A Bad Street Name Is Costing You Money
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When we bought our first house it was on the corner of Saltlick Trace and Bay Point. The street and mailing address was on Saltlick Trace which neither my wife or I were too thrilled about. We spent a little time with the postal service and the city and presto, the home had a Bay Point address.
Now I am seeing a study that shows my few hours of effort probably paid off when we sold the home. Street names with a weird or negative connotation depress home values compared to those on streets that have a more positive name.
When we sold our home it went for a bit more than the Realtor expected. I wonder how much the name change had to do with it? If the study is correct, more than a little bit.
Industry experts report a small but noteworthy negative effect between a badly named street and the perceived market value of the homes or businesses on it: When identical properties were simultaneously listed in the same neighborhood, the dwelling whose address evoked prestige was likely to fetch a higher price than the one that sounded like a punchline.
Good news for residents of Country Club Drive in Kingston, Ont. Not so much for those in nearby Bastard Ward. People attach values (to addresses) and pay a premium,” explains Murtaza Haider, a business professor and director of Ryerson University’s Institute of Housing and Mobility.
Haider recently analyzed the property values of 300 homes either directly on or within 100 metres of Toronto’s posh Bloor Street. Controlling for size, he found that having Bloor in the physical address added a statistically significant premium to a property’s market worth.
Research by Texas realtors Sylvia and Steve Crossland in 2006 similarly found that properties in the same subdivision whose addresses had overtly violent names — among them Gun Fight, Ammunition and Six Gun — sold for less than those on neutrally named streets. via the Edmonton Journal
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
ECONOMIC REPORT
'Prolonged' recession, higher joblessness seen likely
NABE survey indicates most economists now believe U.S. recession's started
By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
Comment by Doug Quance on 14 May 2007:
I’ve never had the evidence to prove it… but I’ve always known that a bad street name will cost you money and time on the market.
Good snag, Tom.
Comment by Sock Puppet on 14 May 2007:
I remember Chris Rock did a routine about how in every city in America the street named after Martin Luther King was the most dangerous one.
-Athol
Comment by Rhea on 14 May 2007:
I don’t doubt the validity of this at all. If the stock market goes up and down based on fear (and other human emotions), then strange/freaky names can affect folks searching for a house.