Buyers today are often thrown for a loop when they look around a neighborhood and see so many FOR SALE signs. The sign riders advertising foreclosures or short sales don't help. However in the case of some buyers it has nothing to do with the home values in the neighborhood, they can see past the market today and know that in the Northern Virginia area prices do recover. What throws them for a loop is whether the large utility right away, electric poles and water towers will affect the value of their home when they go to sell.
My answer is always YES. Now some may disagree with that answer but if a buyer is asking the question today, then other buyers will ask the same question when the house comes up for sale again in the future. Given a choice to buy a home without the power lines running through the backyard or not then I will always advise a buyer on the side of NOT. Now if the poles can only been seen in the dead of winter perhaps there is another answer but when they are what you will look at 365 days a year. NOPE.
Today while looking through a neighborhood with plenty of options on homes for sale I came across a home that made me stop and wonder, how will they be able sell the property in the future? Perhaps the developer made them a deal they couldn't refuse, perhaps they thought that during the next big drought they would have a secret stash of water or perhaps they didn't have a Realtor® looking out for their best interests. Whatever the reason their resale value has a big red question mark around it.
So buyers if you are out driving around a neighborhood and see a home that catches your attention, stop and look carefully around you. If what you see is something you can fix then keep the home on your must see list. If what you see is something that you can't change like a power line or water tower then you might want to consider another property.
If you aren't currently represented by a Realtor® and are interested in learning more about buying a home in Faifax County, Prince William County or anywhere in Northern Virginia give me a call. I'll help educate you on the home buying process, what to consider when buying your home and protect your interests both for today and into the future.
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As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.
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I always like the homes that sit next to a baseball field; thats gotta make for some interesting nights.
Missy-as long as the basements are dry they are a great selling point. I can usually tell as soon as I start down the stairs whether there has been a water problem or not.
Chelle-it used to all be about location, location, location. Of course now we add price and condition to location as the keys that get your home sold.
The more involved I get in real estate internet marketing, the more I learn about what actually effects the value of a house. I totally agree though there is always going to be a buyer for a property in vicinity of an "eyesore." The sellers just need to pay more attention to their expectations when they try to find the value of their home.