Tuesday, October 10, 2017

Most Homebuyers Do Not Understand How Location Impacts Home Values

(Click on the image to enlarge)


Housing market is primarily about "location, location, location." Most homebuyers do not understand the impact of location on home values; instead, they tend to get carried away by size, age and condition, ignoring the biggest contributor to the value, i.e., location.

In the first graphic above, all others factors remaining constant, a $4.425M home in inland Santa Monica (Zip 90403) becomes $850K in LA South (Zip 90047).

Similarly, in the second graphic, if a house is moved from Zip 32789 to 32810 - across the I-4 freeway - its value goes down from $200K to $82K due to change in location.

I picked the above graphic from LocValu.com as I own and operate it, to avoid having to deal with any copyright issues. My LocValu site is totally self-directed (no modeled values), totally free (no strings), and requires no login or registration whatsoever.



No comments:

Post a Comment