What is it in a Street’s Name? Details of Real Estate Matter

Buyers take into consideration a side spectrum of influences while choosing their next home. The amount of natural light inside of a given room, don’t have two sinks inside of the master bathroom, or, in the rarest of admitted cases, the name of the street the home is on is just not right. It is by far not a primary selling or buying point, but new data suggests more weight placed in the name of a street than previously thought.
“Real-estate website Trulia recently examined the correlation between the price of a home and its address suffix (i.e. – “avenue,” “boulevard,” “court,” etc.). The company found that homes on boulevards are generally the most expensive, with a median price of $117 per square foot. Homes on plain old “street” were found to be the cheapest, at $86 a square foot. That’s a difference of 36%.”
This must be taken with a healthy amount of skepticism. Avenue, blvd, and court are oftentimes affiliated with apartments and new development eliciting an obvious rationale for the tendency to be higher priced.
There are other irrational stigmas attached to street names. These are much more difficult to tract since concerns grounded in suspicion are rarely vocalized to realtors. The advice to realtors is that an uncountable number of influences inform a buyer on whether or not they will put in an offer on a home. If not on the forefront of your mind, details as seemingly minute such as the street name ultimately do matter.



Popular Posts