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Hidden Factors That Affect "Identical" Properties

By
Real Estate Agent with Silicon Valley Real Estate

The personalities of the two properties here were completely different.  This property was bright and sunny with the daylight shining through the enclosed patio of the condominium and reflecting off the entryway mirror: the polar opposite of the one we had just visited.

It wasn't a long drive and, actually, I felt a little guilty about driving the less-than-two blocks inside the same complex to get to this other townhome, but it had been a pretty long day --- this being our fifth out of eight properties today --- and I wanted my client to take a load off his feet, even for a couple minutes.

But it's funny how light is like a breath of fresh air.  We'd just waded through the darkness of a brightly lit Sunday afternoon cloistered away by a property that just didn't know better.  The carpet wasn't doing anything to help what little light managed to meander its way through the overcast sky of trees.

No, these weren't comparable properties.  Yes, they're in the same complex and you would put the two side-by-side on a competitive market analysis (CMA), going over the features that each one had line-by-line and probably drawing an identical pricing strategy.  But after visiting during two points in the day and seeing the properties' personalities, there was no apples-to-apples comparison.  

Light you can see.  There are a number of other hidden factors you need to ask about which change the character of "identical" properties.

Hidden Factors That Affect "Identical" Properties

1/  Plumbing.  One property we saw was the lead in to the primary water mane, so every time someone ran their washer, the roar of a burst of water would fill the living room.  To make living in this unit more tolerable, the HOA limits the times washing machines are allowed to be used.

2/  Neighbors.  Another property had a unit upstairs with hardwood floors and lots of young children.  They're fun and friendly but the ensuing stampede during the mad rush for school in the mornings was inevitable.

3/  Garbage Pick-Up.  An earthquake.  The crash of bottles during hours normally reserved for slumber.  The two are surprisingly similar but one happens every week.

4/  Service and Delivery Entrances.  The beep large delivery trucks make as they back into the delivery entrances is designed to get as much attention as possible. 

5/  Gated Entrance Traffic.  The beeping of dial tones.  The ring and ring and ring followed by a casual exchange of greetings and the buzz which grants entrance.  The crash of the gate as it closes.  Bam.  They're not all visiting you.

(c) Steve Leung for the Silicon Valley Real Estate Blog at 1SiliconValley.com

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