Busy street penalty
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Anonymous
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We are considering a house on a busy double yellow street.
A nearby home of similar size but at the quieter street recently sold for 1,100,000. How much do you think a busy street one should be worth? |
Anonymous
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Whatever someone is willing to pay.
What street? |
Anonymous
You need to provide more information. How busy is the street? Is it busy outside of rush hour? Are trucks banned? Speed limit? Are there sidewalks? Off-street parking? Is the home near a stoplight where traffic can back up? What is the size of home’s lot? Stuff like that. |
Anonymous
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A lot of factors to consider.
How close are the houses to the street? Are there fences, trees, other natural barriers between the house and the street to block out sound and prying eyes? Is it busy all the time? Just at rush hour? How fast does traffic move? What are sidewalks like? Are there bike lanes, parking lanes, or other barriers between the yard and traffic? Does the busy street also mean proximity to certain useful/desirable resources? Like does the busy street mean you can walk a block to the grocery store (and how pleasant is that walk)? Does it mean you are right across the street from a great park, so that older kids could go play in the park and you could see them from the living room window (and how safe would it be for kids to cross the busy street on their own -- are their lights? do people obey them?). And so on. It's just very dependent on the actual location. There is no standard "busy street penalty." |
Anonymous
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the busy street feeds into a much bigger 3 lane road. there is a traffic light at that cross-section and the house is less than 2 blocks away from that.
speed limit is 30, trucks are forbidden, there are sidewalks on both sides. groceries etc are 20 minute away on foot, partly shaded walk that is ok but not beautiful or anything. |
Anonymous
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In a sellers market not a huge amount In a buyers market a big chunk |