Why Buy a Home on a Busy Street? Number One Reason...BETTER Price!
By Michelle Carr-Crowe, San Jose Lynbrook High Home Expert Selling Homes in Cupertino Schools
Part 1 of 8 in a Series
Why Buy a Home on a Busy Street? Not surprisingly, the Number One Reason is Price!
Did you know even know (or guess) there are multiple benefits to buying a home on a busy street? With the advent of the Internet, many buyers make the mistake of outright rejecting a home on a busy street before even visiting the virtual tour or an open house to see how a home possibly meets their needs, including financial affordability.
The First Reason to consider buying a home on a busy street is price: it’s almost always less costly than a similar home on an inside street. This can translate into owning a significantly larger, nicer and/or even better quality home. For example, it can mean the difference between living in a townhome or owning a single family home, especially when you factor in the cost of HOA dues. For example, in the West San Jose, Calif. Lynbrook High area a large, ~1790-sf townhome is asking $850K while the ~1363-sf 4 Bedroom, Fully Remodeled Storybook Cottage on a Huge ~7370-sf Lot at 6312 Bollinger is asking $835K.
In looking at the West San Jose, Calif. Lynbrook High sales data for the year, on average, it’s about 10% less costly to buy a home on a busy street. In other areas, the range is often less, more like five to seven percent. At these prices, that’s about a $95,000 difference in price paid.
ALL San Jose Lynbrook High Homes 1500-sf or less sold January to September 2011
# LISTINGS: 28 AVG VALUES: 15 30 1,300 $745.55 6,412 $931,119 52 $962,935
Inside Streets San Jose Lynbrook High Homes 1500-sf sold January to September 2011
# LISTINGS: 21 AVG VALUES: 15 30 1,291 $772.20 6,287 $957,121 52 $992,418
Streets with Traffic San Jose Lynbrook High Homes 1500-sf or less sold January to September 2011
SOLD
Address City Beds Bath DOM LOE SqFt $/SqFt Lot (SF) List Price Age Sale Price
1112 Johnson Avenue San Jose 3 2|0 31 27 1,379 $667.15 6,060 $943,888 53 $920,000
1132 Miller Avenue San Jose 3 2|0 7 22 1,226 $750.41 6,264 $918,000 50 $920,000
6448 Rainbow Drive San Jose 4 2|0 20 28 1,484 $647.57 6,800 $899,000 51 $961,000
6404 Bollinger Road San Jose 4 2|0 12 30 1,441 $633.44 7,700 $883,000 53 $912,790
1046 Johnson Avenue San Jose 3 2|0 15 42 1,040 $819.81 6,660 $799,000 54 $852,600
1047 Miller Avenue San Jose 4 2|1 10 11 1,363 $564.93 6,656 $780,000 52 $770,000
6312 Bollinger Road San Jose 4 3|0 15 41 1,363 $575.94 7,370 $748,888 52 $785,000
# LISTINGS: 7 AVG VALUES: 16 29 1,328 $665.61 6,787 $853,111 52 $874,484
In the example above, homes on low-traffic streets sold for about $118,000 more than those on streets with traffic. At these prices, on average, that represents over a ten percent difference in price paid.
Before bypassing what could be your dream home because it’s located on a busy street, why not take a look at homes like 6312 Bollinger, San Jose at next weekend’s open house? Consider working with a real estate consultant like me who helps you examine all of your options, including buying a home on a busy street, before choosing the perfect home for your family.
Look for the next article in the series of Why Buy a Home on a Busy Street? Less Crime.
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Overview Maps Photos Description Open House Market Stats |
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Michelle Carr-Crowe Just Call (408) 252-8900 Michelle Carr Crowe at Keller Williams Cupertino (408) 252-8900 [email protected]// http://www.michellejudycarr.com        |
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