Iconic Neighborhoods And Neighborhood Value

When it comes to location, it always matters. The location of your home makes a difference in the resale value. Of course, you can’t always control how demographics will shift, however, you can look at certain trends to determine whether or not the neighborhood you’re buying in will help with the price appraisal of your home.

For example, being named the top five places for Christmas Lights in the country is a good thing when it comes to selling. Besides being festive, it means that locals will want to keep their title and they will keep their neighborhood in good standing. The same goes for other iconic neighborhoods with a variety of claims to fame. Whether it is a historical event, or a community-based one like Christmas decorating, being noticed as a neighborhood for something positive can help with raising home values.

Seattle-based real estate company Redfin made the picks for country-wide holiday light displays. Their agents visited each neighborhood and picked Dyker Heights in Brooklyn, NY, Miracle on 34th Street in Baltimore, Maryland, Peacock Lane in Portland, Oregon, 37th Street in Austin, Texas, and South 13th Street in Philadelphia, Pennsylvania.

The agents considered the best lights, music, decorations and lawn characters, according to a release published by the Sacramento Bee.

So does this mean that living in a neighborhood with big, sparkling Christmas lights and decorations means that your home will automatically sell for more? No. It does mean, however, that your neighborhood may be on its way to getting iconic status, which will factor into the overall appraisal price.

Neighborhoods with iconic status include Beverly Hills in California, the French Quarter in Louisiana, Greenwich Village in NYC and many others. As we all know, none of the above listed neighborhoods have homes that sell for cheap.

Being neighborly and seeing if your community can contribute something is not only in the holiday spirit, but might get you a great return on your biggest investment: Your home! Happy Holidays and we hope you get a chance to enjoy all of the festivities with your friends and loved ones.

Categorised in: Blog, Tips For Improving Home Value

This post was written by Joseph Castaneda