As it relates to St. Cloud residential properties, the “location, location, location” homily is usually thought of as referring to neighborhoods. Homes in superior St. Cloud
“Double Yellow Line Value Killer” Not Obvious from its Listing
Dated: October 23 2020
As it relates to St. Cloud residential properties, the “location, location, location” homily is usually thought of as referring to neighborhoods. Homes in superior St. Cloud neighborhoods are visibly well cared for, usually have larger footprints, appealing architecture, etc. Their higher resale values are self-sustaining because their buyers can afford attentive maintenance.
But the locationX3 adage can also be valid for how a property is sited. St. Cloud listings that read like absolute steals online can sometimes prove the point (one that remote buyers without local representation can learn to regret).
A fabulous home situated in the wrong place can be a mistake waiting to happen.
1. An otherwise exceptional St. Cloud home sited on a busy thoroughfare (AKA, a “double yellow line value killer”) doesn’t lose appeal simply because of road noise or the hassle of getting in and out of the driveway—there is also prospective buyers’ apprehension about what will happen when it’s time to resell. The same home on a cul-de-sac automatically commands a higher price and swifter resale.
2. The value impact of a major road within sight is a matter of degree. A faraway freeway can be value-neutral, especially if the nighttime view of streams of head- and taillights can be viewed as sparkling, jewel-like ribbons of color. But too close by—especially within earshot—buyers are more likely to find it off-putting.
3. Longtime St. Cloud residents may remember when a corner lot was the preferred neighborhood configuration, but that assessment has been declining for years—partially because corner lots create greater side yards and smaller backyards, and partially because they create twice as much street exposure.
4. A nearby airport can be promoted as a major convenience for frequent travelers—but one that’s close enough to constitute ear pollution can have the exact opposite impact.
5. More equivocal are homes located on a dirt road. Sure, the car will get dirty—that and the possibility of wintertime travails can be negatives. But, depending on the property and neighborhood (and the buyer’s mindset), the same factor can also be seen as emblematic of an appealing lifestyle choice.
Almost without exception, situations like these will be glaringly obvious upon a prospective buyer’s first visit. Exceptions do happen, though—especially when prospective buyers fall in love with something about a property. In that case, it’s only important that the buyer be fully apprised about what to realistically expect from the market if and when it’s time to resell. When you are a client of mine, that is absolutely certain to be the case!
Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:
Five Office Locations To Serve YOU!
Premier Real Estate specializes MANY areas around Central MN including Saint Cloud, Waite Park, Rice, Royalton, Sartell, Royalton, Little Falls, Cold Spring, Saint Joseph, Elk River, Monticello, Ramsey, Saint Michael, Andover, Ham Lake, Anoka, Champlin, Buffalo, Glencoe, Brownton, Silver Lake, Kandiyohi, Dassel, Minneapolis, Maple Grove, Saint Louis Park, Saint Paul, Robbinsdale, Crystal, New Hope, Brooklyn Center and more!
Passion for investing in real estate brought me to create Premier Real Estate Services in 2002. Years of purchasing, developing, and managing several rental properties, while assisting friends & cli....
Latest Blog Posts
You can forgive those responsible for the St. Cloud family shopping if they tend to be suspicious when we go for long without hearing much about inflation. Last Wednesday’s Associated Press
St. Cloud readers may have come across a worrisome prospect being suggested by some prominent real estate pundits: the likelihood that the steady rise in residential real estate values will trigger
Last week’s announcement came as gloomy news for local filmgoers who’d been counting on a field trip to see the new James Bond release (it’s been delayed again, this time, until