With this blog I hope to convey the fundamentals of real estate for both buyers and sellers. Navigating through the mountains of information out there as well as trying to surf interest rates, inventory, and all kinds of marketing ploys can hide the tried and true principals for successful transactions! So, for my first entry I have picked the mantra of real estate: location, location, location! Here are the major factors I feel that, both desirable and undesirable, make this my #1.
Areas with top-rated school districts: homebuyers with children rate this one of their top concerns.
Recreation and nature: homes adjacent to ocean, rivers, lakes, parks and such hold better value because of this.
Scenic Views: homes with sought-after views of mountains, greenbelts, golf courses, or panoramic cityscapes usually sell quickly and for top dollar.
Entertainment and shopping: many people in cities or town centers will pay more for the proximity to these amenities so they can walk rather than drive.
Economically stable neighborhoods: neighborhoods that have stood the test of time and weathered economic ups and downs are more likely to attract buyers who want to maintain home values.
Public transportation, health care, and jobs: most people don’t relish long commutes to work, medical facilities or airports.
In the center of the street: I’ve heard this more times than you would think! Some buyers prefer corner lots, but more seek the middle of the street—to feel less vulnerable.
Commercial/Industrial areas: unless it’s in a downtown location, commercial building on residential blocks diminish home values. Loitering, noise, traffic all contribute to this.
Railroad tracks, freeways, under flight paths: excessive noise often makes sellers sell quickly, even when their homes are in otherwise desirable areas.
High crime areas: people want to feel safe in their homes. When cars come and go all hours and police visit the neighborhood often, the assumption can be that there is a crime problem.
Close to hazards: nobody wants to live by nuclear plants, power line transformers if they don’t have to.
I’d love to hear what draws or repels you when you house hunt!