Profile picture for JoseBenitez4

Does a house in front of an elemenary school entrance normally sell for less than market value?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 13 2013 - Los Angeles
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (11)

Jose
These answers are poor. First of all, I'm not selling so I don't want a promise or an ego response of, I can get you market value.

You are asking a question to Realtors across the United States.  Real Estate is local - not national..

There is no black or white answer.  It depends on a lot of factors and none of us are there to see it.

Ask a professional who is familiar with your market.  Don't chide us because we can't tell you what you want to hear.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 15 2013
I think the answer is both yes and no, it will be a factor to all .
I think there will be those who like it for that reason.
I think there will be those that don't for that reason.

That probably is a good rental point, but not a good selling point.
Buy it to rent yes, buy it to flip no.

A renter does think they are going to be there forever so they will view it different.

A buyer wouldn't want any business type building in their face...even a school.
My opinion is the value would be less than market because it is to close.
-Joseph-
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 15 2013
Profile picture for Pasadenan
It is not just "the entrance"; it typically is the entire street face that does bus-drop-offs and pickups, unless there are no busses.. but still parent drop-off and pickups, unless all families "walk" to school.

And it is not just the entrance face... if cars or buses are going around the block to do the pickups and drop-offs.

And even then, there is the issue of homes across from the sports fields and playground, due to increased noise, and increased risk of a ball going through a window.

But "how much"?  Most agents don't factor that condition into their CMA's.  Machine estimates may factor it in slightly by factoring in the last sold price adjusted for sold date, which would indicate some possible change in perceived value by the buyer.

As mentioned, for rentals, it typically isn't a factor.

As for reducing the time to walk to school?  Walking straight across the street in the middle of the block is "jay walking", could get you a ticket, and could be a safety hazard if lots of vehicles are dropping off students.

The next block over would usually be less walking time, as well as less impacts on getting to and from one's home during school start and end times.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 14 2013
Yes, Sometimes they do.

There is quite a bit of traffic and noise with schools and unless the potential buyer has school age children, it is considered a defect. Any property that has a potential problem should have this "disclosed" by the owner of the property. Even if it is more then obvious that a school is across the street.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 14 2013
Traffic impacts market value.

Renters are less picky than buyers, though, so the impact on rental income would be nominal.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 14 2013
Good morning, The honest answer to this is simply..maybe it will and maybe it won't. It doesn't automatically reduce the value. It's whatever the buyer is willing to pay. Different situations effect different people. I have had buyers stating they don't want to be anywhere near schools, church's, freeways, etc.. And, others that prefer near their child's school..some people like to walk their children to school and those who are a bit over protected, and would love to be that close. After all, it clearly doesn't bother many people, or we'd have a lot of vacant homes around schools. In our market, homes for sale are scarce, buyers are paying over asking market. So, I don't feel it would lower the value. Without knowing the property, I don't know if there may be other factors. You may want to contact a local realtor with a specific address. Best, Susa Bo'ur Realtor/Coldwell Banker
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 14 2013
Profile picture for sunnyview
Houses that are not in strictly residential Leave it to Beaver settings often sell for less. How much less depends on the perceived impact of the neighboring property with buyers. Some people see proximity to schools a weak plus, others will pass due to increased graffiti, trash or traffic.

Being across from a school would probably not lower the rent much though unless the property is high end or the school is a thug magnet. You have to make your own evaluation. Proximity to a school is not a significant disclosure item for sale.

A good school adds value, but being in front of the entrance does not.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 14 2013
Profile picture for JoseBenitez4
I'm looking for an honest answer to property value in front of a school entrance.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 14 2013
Profile picture for JoseBenitez4
These answers are poor. First of all, I'm not selling so I don't want a promise or an ego response of, I can get you market value. Second, rental value of a property will be less because no one wants to deal with a nuisance and the owner has to disclose this.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 14 2013
Hi Jose,

Traffic will be one of the factors that normally influence value and desirability, therefore if the house is in front of an elementary school And on a busy street in general, it may influence how buyers react to the property, and therefore the price they are willing to offer, unless they pass on it altogether. An investor may look at this house differently though, and buy it as a rental.

All the best,

Arpad

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 13 2013
No sometimes it could be desirable depending on the buyer having kids and its the elementary school of choice - I believe in my experience as a seller you will still achieve market value- And in today's market there are many 1st time home buyers. If you have any further questions please do. It hesitate to contact us.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 13 2013
 
Related Questions
First time buyers, where do we start?
Profile picture for Maria Cipollone
Latest answer by Maria Cipollone
March 20 | 14 answers
First Time Home Buyer?
Profile picture for UpNest
Latest answer by UpNest
March 11 | 7 answers
Is there a way to see the property even though they do want to be disturbed at all times?
Profile picture for Kevin Dibben
Latest answer by Kevin Dibben
March 11 | 1 answers
buyer's agreement with agent/broker doesnt response at all
Profile picture for Cyndi Lesinski
Latest answer by Cyndi Lesinski
February 11 | 7 answers
Any financial advantages or disadvantages to buying a townhouse vs. a stand alone house?
Profile picture for Cyndi Lesinski
Latest answer by Cyndi Lesinski
February 11 | 6 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 2315 Adriatic Ave, Long Beach, CA Home For Sale
    2315 Adriatic Ave, Long Beach, CA 90810

     For Sale: $305,000

    • Beds: 2
    • Sqft: 773
    • Baths: 1.0
    • Lot: 5159
  2. 605 S Gertruda Ave, Redondo Beach, CA Home For Sale
    605 S Gertruda Ave, Redondo Beach, CA 90277

     For Sale: $2,450,000

    • Beds: 4
    • Sqft: 4642
    • Baths: 4.0
    • Lot: 6624
  3. 2611 W 74th St, Los Angeles, CA Home For Sale
    2611 W 74th St, Los Angeles, CA 90043

     For Sale: $369,000

    • Beds: 3
    • Sqft: 1388
    • Baths: 2.0
    • Lot: 6708