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Atlanta Homes and Resale Value… Power lines are a definite NO
Categories: Atlanta Neighborhoods, Atlanta Real Estate News, Buying Your Home, Resale Value, Selling Your Home
As Atlanta Real Estate Agents, we represent Buyers. We help them find their home of choice. And manage all the details of buying their new home in Atlanta. One item that we always consult our clients on is resale value. According to the national averages, single family home sells every 5 to 7 years; thus, resale is an important consideration My husband and I were discussing this topic the other day and decided to make a list of the top 3 items that hurt the resale value of homes in Atlanta. They are as follows:
- POWER LINES, especially in the back yard or front yard but we even have clients that don’t want to drive past them on the way to their new home.
- BUSY ROADS, from streets that are on a highway to pass through streets in neighborhood. The main reason is fear of safety and the second being the noise from traffic.
- LOT TOPOGRAPHY, no backyard, a backyard that drops off, a below street level driveway, or a driveway that is so steep that the car bottoms out.
Our advice to Buyers considering purchasing a home with these characteristics: Make sure you are paying at least 15% below market value of the neighborhood.
And our advice to Sellers considering selling their home with these characteristics: The home surely had the same characteristics as when you purchased it. Chances are that the reason you decided to buy it was because the price was right. Given this logic, be willing to accept that your property is going to sell at least 15% less than the market value of the neighborhood and price accordingly.
If you can think of any other items that hurt resale, please comment. Or, if you disagree with our top 3 reasons as to what hurts resale, please let me know.
Here in Asheville North Carolina, we have a fairly large rural area. Where there are rural areas you will invariably find mobile homes. As beautiful as this area is, rarely does one want to build a $500,000 home next to a mobile home. This is one of the top reasons for buyers eliminating a home and deciding on deed restricted communities. Buyers want to be assured their property values won’t be impacted by what is essentially an incurable defect.
Your advice on being prepared to price below the competition by 15% is sound advice!
Sandy Sibley