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What Can Negatively Affect House Values in My Area?

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What Can Negatively Affect House Values in My Area?

Plenty of things can lower home values in any given neighborhood:

Condition of the houses. Do your neighbors maintain their homes well, or are their lawns overgrown with weeds and their yards full of junk cars and decrepit appliances?

Condition of the streets. Does your city/county/homeowners association maintain your streets well, or are they pocked with potholes? Do they drain well during spring rains? Are they plowed frequently enough in the winter? Are there sidewalks or bike paths?

Crime. How does crime in your neighborhood stack up with rates around the city? Are the police responsive to problems? Do you have a Neighborhood Watch in place, showing that neighbors work together and take crime seriously?

Schools. How are test scores in the schools where your neighborhood’s kids go? (Remember, with constant school redistricting, sometimes the school around the corner is NOT the one where kids in your area go; they may have to go to another school.) Are the schools overcrowded? Are they old and in need of repair or expansion or updating? Are there discipline problems?

Zoning. Will all the neighborhood streets remain quiet, or does the city or county have plans to widen streets to accommodate more traffic – using your neighborhood as a path from one side of town to another? Will that block of decrepit homes nearby be redeveloped into pretty new houses, or will your city put a strip mall or convention center or low-income apartments there?

The Wood Team

Wood & Associates Real Estate, Inc.   /    Wood Builder, Inc

1001 S Bloomington Street, Suite 201, Greencastle, IN 46135

765-653-6774 (office) * 888-710-WOOD (toll free) * 765-653-4140 (fax)