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Old 03-13-2008, 12:11 PM
Noc Noc started this thread
 
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Default corner lots

In this market will a corner lot stand out more than a comp that sits in the middle of a block with less usable yard space? Say both houses had the same sqft and were up to date and well kept.

How much of a price difference do features like this play when comparing comps or are they negligible?

Thanks
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Old 03-13-2008, 12:44 PM
 
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I would never buy a corner lot and to me it has less value since there is more chances of getting buglars, since they can get away easy.

Often bus stops are at corners so that can have a negative thing to it and if there is a bus stop on a corner many time cars are parked and will drive over the easement on corner lots so to me it is something I won't even consider, but that is just me.
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Old 03-13-2008, 12:49 PM
 
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 3,082,135 times
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I have more usable yard than either of my neighbors who both have a corner lot. (Of course, both their homes sit catty-cornered on their lots and reduces their usable yard.)

A corner lot doesn't really make a difference to me if I were looking to buy a house...I wouldn't pay more for a corner lot, if that's what you're asking...
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Old 03-13-2008, 12:56 PM
 
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Default Depends

For me, it depends on the lot. Some corner lots are smaller and some are bigger. It depends if it's in a busy neighborhood or in a pretty quiet neighborhood. My home is on a corner lot and is considered the best lot. Our lot is 3.5 acres while everyone else's lots are 1-2 acres. There are no bus stops and it really wouldn't matter if there was one since I can't even see the road from my house. Like I said, it depends.
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Old 03-13-2008, 01:03 PM
Noc Noc started this thread
 
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This isn't a main thoroughfare it's a secluded neighborhood with about 50 cars max down both streets per day (residents). The corner is a T shape 3 way. No mass transit in the neighborhood school bus maybe. Very quiet and private on the corner (good thing, bad thing /shrug).

I'm just trying to figure out if I base my house on comps should I take the corner lot into consideration. Thats one area that has always shined about my property was the privacy, yard space and lack of neighbors on one side. It tends to have that WOW factor on people especially in the summer when all the plants are filled in
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Old 03-13-2008, 01:05 PM
 
Location: Falling Waters, WV
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I think in most neighborhoods where the lot size is under .25, the corner lots tend to have more side yard than back yard and I wouldn't want that. Also, some HOA and/or county code have restrictions on what can be planted or what type of fencing (as far as set backs and height) that can be put on a corner lot.

Some people do prefer corner lots but I don't know if they would pay extra for it.
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Old 03-13-2008, 01:39 PM
 
1,408 posts, read 5,417,983 times
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Quote:
Originally Posted by Noc View Post
In this market will a corner lot stand out more than a comp that sits in the middle of a block with less usable yard space? Say both houses had the same sqft and were up to date and well kept.

How much of a price difference do features like this play when comparing comps or are they negligible?

Thanks
for me it depends on the overall location. if the corner lot was on 2 side (ie quiet) streets) then a corner lot would have more value to me because you typically get more land with a corner lot (at least in mass you do). BUT if one side was on a main road then it would have less value. I never want to live on a main road, period.
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Old 03-13-2008, 02:23 PM
 
Location: Gilbert - Val Vista Lakes
6,066 posts, read 8,170,594 times
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Quote:
Originally Posted by Noc View Post
This isn't a main thoroughfare it's a secluded neighborhood with about 50 cars max down both streets per day (residents). The corner is a T shape 3 way. No mass transit in the neighborhood school bus maybe. Very quiet and private on the corner (good thing, bad thing /shrug).

I'm just trying to figure out if I base my house on comps should I take the corner lot into consideration. Thats one area that has always shined about my property was the privacy, yard space and lack of neighbors on one side. It tends to have that WOW factor on people especially in the summer when all the plants are filled in
I would price it based on the comps and not give any consideration to it being a corner lot. Many people do not like corner lots because of the security concerns. That will lose you some prospective buyers. If you try to price it higher than the comps, that will lose you more.
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Old 03-13-2008, 02:39 PM
 
Location: Falling Waters, WV
1,500 posts, read 4,929,913 times
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Quote:
Originally Posted by Noc View Post
This isn't a main thoroughfare it's a secluded neighborhood with about 50 cars max down both streets per day (residents). The corner is a T shape 3 way. No mass transit in the neighborhood school bus maybe. Very quiet and private on the corner (good thing, bad thing /shrug).

I'm just trying to figure out if I base my house on comps should I take the corner lot into consideration. Thats one area that has always shined about my property was the privacy, yard space and lack of neighbors on one side. It tends to have that WOW factor on people especially in the summer when all the plants are filled in
If it is private and as nice as you say I wouldn't mention it being a corner lot because you might get someone that wouldn't look at a corner lot but get the "wow" after seeing it.
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Old 03-13-2008, 03:00 PM
 
Location: Salem, OR
10,853 posts, read 18,143,063 times
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Quote:
Originally Posted by Captain Bill View Post
I would price it based on the comps and not give any consideration to it being a corner lot. Many people do not like corner lots because of the security concerns. That will lose you some prospective buyers. If you try to price it higher than the comps, that will lose you more.
I agree with Captain Bill. The fact that it is a corner lot really doesn't add any additional value.
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