Property Price Adjustments

I would appreciate your professional opinions on pricing adjustments for residential properties located adjacent to or near a bar/restaurant parking lot operating until 2 am every day. A percentage adjustment or percentage range would be helpful.
  • May 01 2012 - US
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Answers (2)

Before you sell out your equity in your home, price it initially at fair market value and do a price correction(s) agressively. You may find that proximity to an entertainment venue may not be as big of a turn-off as you believe. Factors to consider also include the density of 'like' businesses; meaning if you are close to a commercial district this may be a selling point for nightlife. If it is a lone establishment that is a threat to quality of life, then it will be a detriment.

My main point is that once you start low, you only have one direction to go, your home is an investment. An aggressive marketing strategy that takes into account price corrections is the best way to go.
  • May 01 2012
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Profile picture for wetdawgs
Has the property been constructed so the residents will have 24 h/day enjoyment of their property, or will noise be a factor from the parking lot and bar every day  the establishment is open?  How noisy is the bar/parking lot?

If the latter, I'd price considerably below market value compared to equivalents without this issue - perhaps 30% or more.



  • May 01 2012
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