Do you have a problem with your location that may make it difficult to sell your home?
Let's get right to the point, everyone has heard "location, location, location" when it comes to buying and selling real estate. Let's talk about things that make a location less desirable and reduce home values, particularly in Minnesota but most apply nationally. I think they speak for themselves but please call me if you need more insight or would like to know how your location specifically affects your home value.
- On a busy road
- In a poor school district
- High taxes and/or assessments
- Neighborhood quality
- Lack of local amenities
- Lack of privacy
- Adjacent to factories or industry
- Traffic and highway accessibility
- Limited or poor city services - from parks to trash to snow plowing, not all cities have equal services.
While these are mostly permanent issues, there are some issues that may be temporary. These could be:
- Many forclosed homes near your
- Road construction
- A poorly kept neighboring house
All of these items can cause your home to sit on the market longer and sell for less than exactly the same home in a different location.
So now you know some of the nitty gritty about "location, location, location" take a moment to check out the market stats in your neighborhood and see how your home may compare!
As a buyer, remember, you can always fix a house (even if you have to tear it down) but you can never fix it's location!
