Does it Hurt to Live in Murder Heights?

Written by Posted On Thursday, 19 September 2013 14:15

The street name of a neighborhood can affect the asking price on a home, at least according to a new survey by Trulia. Trulia analyzed the median asking price per square foot among various types of address suffixes, like “Lane” and “Park.” Street addresses with the words “Boulevard,” “Place,” and “Road” were found to have higher average asking prices than homes with addresses ending in “Avenue,” “Drive,” or “Street,” according to the Trulia study.

For example, homes that were located on streets with the word “Boulevard” in the address sold on average about $117 per square foot compared to properties located on addresses with “Lane,” which would sell on average for $101 per square feet, or “Street,” which sold for about $86 per square foot. Homes that had “Boulevard” in the address had the highest asking prices of all the street-names Trulia studied.

But slow down…we’ve established again and again that price per square foot is not a reliable way to estimate value. The number of variables are significant and reliance on that alone is not advisable. We do agree that public percetion is important, would you want to live on Stab Street or Bleed Out Avenue?  Residents of Oak Hill might not find the former community name so appealing…Murder Heights. Talk about a major rebranding….Read about it

Hank Miller, SRA
Associate Broker & Certified Appraiser
Atlanta Communities Real Estate
678-428-8276 direct
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Hank Miller, SRA

Hank Miller is an Associate Broker & Certified Appraiser in the north metro Atlanta area. Since 1989, real estate has been his full time profession. Hank´s clients benefit from his appraisal and sales experience; they act upon data, not baseless opinions. He is an outspoken critic of the lax standards in the agent community.

Hank remains an active certified appraiser and completes specialty work for FNMA, lenders and attorneys. He is a well-known blogger and continues to guest write for multiple industry publications as well as national outlets like the WSJ, NYT, RE Magazine, USA Today and others. He is a regular on public Q&A sites on Zillow, Trulia and many others.

Hank consistently ranks in the top 1% of all agents in the metro Atlanta area. He runs the Hank Miller Team and is known as much for his ability as he is for his opinions. He is especially outspoken about the lack of professional standards and expectations in the real estate industry.

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