Neighborhood Features that Devalue Your Home

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May
12

Neighborhood Features that Devalue Your Home

May 12th, 2016 by Ruhl Marketing Team

Realtor.com recently identified the neighborhood features near a home that could have the biggest impact on a home's price. To calculate, realtor.com analyzed home prices and appreciation rates in zip codes of the 100 largest metro areas across the country where a "drag-me-down" facility, such as cemeteries and power plants, was present. The research team then calculated the potential impact on a home's price by comparing the median home price of the zip codes with that facility with the median price for all homes in the same country. The following neighborhood features impact home values by the greatest amounts:

Bad school	-22.2%
Strip club	-14.7%
High renter concentration	-13.8%
Homeless shelter	-12.7%
Cemetery	-12.3%
Funeral home	-6.5%
Power plant	-5.3%
Shooting range	-3.7%

Translation: Home-owners near a bad school received 22.2 percent less than an average home in the same county could get. Do these factors impact your home-buying decision? If schools are impacting your decision to move, check out our specific schools page at ruhlhomes.com. Source

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