U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > North Carolina
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-04-2021, 09:49 PM
 
Location: Gaston County, N.C.
159 posts, read 70,757 times
Reputation: 215

Advertisements

Appraisal riddle...

Several years ago, coming out of the recession, I picked up a vacant lot in a NC town as a cheap gamble. I never got around to clearing and building there, since I had other priorities with my rentals and my personal residence. The taxes were low to hold it, so ... no rush.

I just learned there will be a greenway extension in that neighborhood, the new entrance would be about 1200 feet away. Not super close, but not a stretch either to advertise the property as "near the greenway" when I finally develop it.

I'm just curious if anyone has done some paired sales analysis locally, to see how far from a greenway entrance makes a difference in value?

I would think most people would see that as a nice amenity. Although I could also imagine an entrance immediately adjacent to a property could be a negative, with it inviting so many strangers to walk nearby.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 01-08-2021, 04:23 PM
 
Location: Beautiful and sanitary DC
1,761 posts, read 2,474,680 times
Reputation: 1954
Most surveys show a small premium, but more so in more urban areas.
https://www.nrpa.org/parks-recreatio...operty-values/

Most of the research is older and survey-based, since there was a lot of worry in the 1990s that trails would lower property values. But recent surveys of homebuyers consistently find that trails are among the most popular amenities that homebuyers want nearby.
3 Community Amenities That Top All Home Buyers' Wish Lists | NAHB Now | The News Blog of the National Association of Home Builders
https://www.rclco.com/publication/20...erence-survey/
Rate this post positively Reply With Quote Quick reply to this message
Reply

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top