External Factors that can have a positive impact on a neighborhood?

 

I was up in the Mid-City area of Los Angeles today doing an appraisal.  The subject house was located close off a major east west street. I pulled a few comps from different neighborhoods. I knew the range was different but I wanted to see the other areas that had higher values. Once I got to the other neighborhood, it was quiclky obvoius that the homes here are of higher value. The homes had curb appeal, all nicely landscaped and maintained. But what really let me know when I was in a higher priced area was the street. All the streets were recently repaved and or slurry sealed. This had me stop and think about how something out of the homeowners control can possibly influence the perception of buyers and how this might contribute to higher values in the long run.

What do you think?

If you  need have and real estate appraisal needs in the greater Los Angeles and Long Beach Area, contact me at 562-673-1138, www.wallaceres.com

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