There Have Been 71 Sales On Those Kind Of Streets

Category: Finance, Real Estate.

We are purchasing some acreage lots in Oak Hill, and I just realized that other buyers on my street don t like the street s name on which our lots are situated and have requested the developer to rename it.

Sisquoc is a Chumash Indian( from California) name that loosely means" stopping place. " There is a river called Sisquoc River in California. The name of the street is" Sisquoc, " which I think is a good name. The developer mentioned to me that some of the other buyers believe it is too hard to say and spell. Some streets in Shady Hollow which is a subdivision in South Austin have names such as" Gun Fight, " "Ammunition, " "Shoot Out, " "Shotgun, " and" Six Gun. " Who would want to get a house on Shoot Out Street or Gun Fight Street? The city is changing the street s name to" San Lucas. " At any rate, this got me thinking about Austin s street names, and the reality that plenty of streets have names that are more disagreeable than Sisquoc. Someone on the liberal party would probably give up her dreamhouse on" George W.

Would a loyal Christian Conservative not purchase a house on Devil s Cove? Bush Blvd. " Would a vegetarian pass up a house on Brisket Lane? Therefore, can the name of a street play a big role when deciding on buying or selling a house? I performed a multiple listing search for houses in Shady Hollow that were sold since 2000 that are found on the previously mentioned streets with gun- related names. I decided to look further. There have been 71 sales on those kind of streets.

The next search was done with houses that were not built after 1993 since they were expensive to build. In dollars, 677 is the, 179 sales price on the average with$ 98 per square foot. Six hundred six houses situated on streets with less explicit western names were sold. Based on this research, homes on streets with names that are politically incorrect are not selling well as compared to other homes on other streets. The sales price on the average is$ 225, which is equivalent, 713 to$ 103 per square foot. The interesting fact though is that the politically incorrect homes sold at an average of 37 days while the others took an average of 50 days to sell. The politically incorrect homes were an average of 1811 square feet while the others averaged 2144 square feet, which would account for the sales price gap.

This seems contrary to what one would expect based on the price gap. But homes with smaller lot size, sell for a, in general higher per- square- foot price, and in this case they dont, which means something is out of balance. Anyway, the buyer has to consider whether the name of the street which may or may not affect the marketability of the home in the future. This may not seem to be an exact science.

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