Reply to House on Busy Street: What percentage reduction

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Redfin has sales history - changes in prices, delisting/relisting. Gives a better feel for homes that have trouble selling. [/quote]

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.[/quote]

All true. But the houses hit hardest by the market crash were those in the least desirable locations (e.g. - busy street). [/quote]

No it doesn't work that way, least desirable locations mean outside the beltway far commute etc... it's not localized like that.[/quote]

Ok - undesirable attribute if you prefer that language? I do think location matters though - both on the macro and micro level. [/quote]

And houses that had some "undesirable attributes" definitely had a tougher time when the market dropped. The house on the the busy street far from amenities sat longer and had a few more price drops than the house on the ideal quiet street near lots of stuff. All within same zip code. [/quote]

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