House on Busy Street: What percentage reduction
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Anonymous
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If it's set back [still with large backyard] and fully fenced & gated, probably around 400, otherwise 300.[/quote]
No, under those circumstances, more likely $475k. $425k-$450k if right on the road without a fence. No house is going to take a 40% hit like that in the DC metro area. There are just too many houses on busy roads. It's an urban area.[/quote] That's not enough of a discount for me, PP, but all you need is one willing buyer--maybe a retired couple. Families want to be able to ride bikes on the street.[/quote] People buy houses (or don't buy houses) for all sorts of reasons. Busy road may turn off a few, probably doesn't matter to most. Just like other attributes. A house on a busy road in the 22207 school systems are going to sell just fine, even to a family that wants to ride bikes in the street. A busy road house in Alexandria might be tougher.[/quote] Huh? It's just the opposite. In areas where schools are good a house on a busy street will sit longer because most people buying in the area have kids. A lot of people living in Alexandria and other places with less desirable schools don't have kids and never intend to. It would be a deal breaker for me because I have a child and a dog. |
Anonymous
| Huh? It's just the opposite. In areas where schools are good a house on a busy street will sit longer because most people buying in the area have kids. A lot of people living in Alexandria and other places with less desirable schools don't have kids and never intend to. It would be a deal breaker for me because I have a child and a dog. |
Anonymous
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If it's set back [still with large backyard] and fully fenced & gated, probably around 400, otherwise 300.[/quote]
No, under those circumstances, more likely $475k. $425k-$450k if right on the road without a fence. No house is going to take a 40% hit like that in the DC metro area. There are just too many houses on busy roads. It's an urban area.[/quote] That's not enough of a discount for me, PP, but all you need is one willing buyer--maybe a retired couple. Families want to be able to ride bikes on the street.[/quote] People buy houses (or don't buy houses) for all sorts of reasons. Busy road may turn off a few, probably doesn't matter to most. Just like other attributes. A house on a busy road in the 22207 school systems are going to sell just fine, even to a family that wants to ride bikes in the street. A busy road house in Alexandria might be tougher.[/quote] Huh? It's just the opposite. In areas where schools are good a house on a busy street will sit longer because most people buying in the area have kids. A lot of people living in Alexandria and other places with less desirable schools don't have kids and never intend to. It would be a deal breaker for me because I have a child and a dog.[/quote] There's no inventory right now in places with good schools (like 22207), so I'm right. I see houses on main roads in 22207 sell in days. |
Anonymous
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Too funny - I was just driving on Glebe Rd today and I thought of the Glebe PP who thinks it's not busy (it is) and that busy roads don't bother most families (they do).
Just because you're willing to compromise doesn't mean most other people are. Which house sold recently? To a family? |
Anonymous
I see Under Contract signs on Quincy, Washington Blvd. and Williamsburg. Not sure who the buyers are. |
Anonymous
| Did that new construction house on Dittmar ever sell? I know it sat foreeever. And for sales in the last 6 mo on Glebe - almost all sat long enough to have price reductions. |
Anonymous
| We bought on a busy street because that's what we could afford in a pricey town. Yard is fenced and not once has a kid ever been tempted to wander into traffic. Non-issue. |
Anonymous
Anonymous
Check the history of any of those pending houses. ALL of them have had trouble selling in the past. The only thing working in their favor is the extreme lack of inventory. |
Anonymous
No pp, but I agree with this. |
Anonymous
No way. I lived one street back from a busy road, and I do not miss the sirens at all hours! |
Anonymous
| Redfin has sales history - changes in prices, delisting/relisting. Gives a better feel for homes that have trouble selling. |
Anonymous
I think trouble selling is generally more market driven, then location driven (so looking at a listing that wasn't selling in 2009 may have nothing to do with location and everything to do with the market crash/credit standard tightening). Price cures all ills. The more urban the location, the less proximity to a busy street matters, as busy streets are everywhere. The more desirable the neighborhood/school district, the less the busy street matters. Fencing, size of driveway, degree of barrier from street, all would affect price. |
Anonymous
All true. But the houses hit hardest by the market crash were those in the least desirable locations (e.g. - busy street). |
Anonymous
No it doesn't work that way, least desirable locations mean outside the beltway far commute etc... it's not localized like that. |