too Many ‘For-Sale’ Signs on street in Paradise Valley? – can be a good thing!
April 13, 2008
Can a lot of homes for sale in the same neighborhood or same street ever be a good thing??
Sometimes, Yes! Let me explain….
Earlier this morning, I was showing a client a home for sale in Paradise Valley; a wonderful and exclusive township adjacent Scottsdale.
This home was everything the client wanted including a resort style backyard gorgeous views of Camelback Mountain sitting on a Golf Course lot.
However, as we drove the street, the Buyer noticed and commented about the number of homes with for-sale signs in front expressing reticence and an amount of concern. I shared with him that in certain areas, this is not always a bad thing.
Here’s why.
This is one of the most desired areas of Paradise Valley adjoining Camelback Country club. However, this subdivision was built (for the most part in the mid-80’s) As a result; the structure, floor plans, and front elevation of the homes are wonderful. However, the style, interior surfaces, designs are from that wonderful time (the 80’s) of white and gold and wallpaper and 6’inch tile.
What that means is that the other homes for sale, in Paradise Valley, will eventually be purchased and brought up to date, with the modern or current designs, and finishing’s. As a result of these improvements and modern amenities, homes will sell for more; improving home values overall in the neighborhood.
I am not an appraiser. However, part of what is called the ‘Market approach’ to appraising is adding value for modern amenities. Appraisers definitely take into consideration those same homes that have been remodeled and re-designed when assessing value, thus raising ‘Comps’ in the neighborhood.
Don’t be afraid of a lot of for-sale signs. Hidden behind them could be a diamond in the rough.
——————————————————————————–
Copyright © 2008 By James Wexler, All Rights Reserved. *Many ‘For-Sale’ Signs on street – A good thing!*
Contact James Wexler (480) 221-8080 for all your Paradise Valley and Scottsdale area Real Estate needs.
Related Posts
Comments
Got something to say?
MLS search -- Phoenix Area Homes for sale
-
Phoenix Area Homes for Sale
