Six Hundred Six Homes Located On Streets With Less Obvious Western Names Were Bought

Category: Finance, Real Estate.

We are in the process of purchasing some lots in Oak Hill with a few other buyers but they don t like the name of the street and want the developer to change it.

Sisquoc is Chumash Indian for" stopping place. " There is a California river which they call Sisquoc River. The street has a really great name- -Sisquoc. The other buyers are having a hard time saying and spelling it. The street is currently being renamed to" San Lucas. " Anyway, this made me think about names of the streets in Austin, and the reality that many streets have names far more disagreeable than Sisquoc. Jeez, give me a break! Some streets in Shady Hollow which is a subdivision in South Austin have names such as" Gun Fight, " "Ammunition, " "Shoot Out, " "Shotgun, " and" Six Gun. " I asked Sylvia whether she would live on a street named" Shoot Out" or" Gun Fight" and she said" No way! " I wonder whether a left wing liberal would pass up his dream home if it was located on" George W. Brisket Lane might scare the wits out of a vegan.

Bush Boulevard" ? Will a loyal Christian Conservative not purchase a home on Devil s Cove? I went on to learn more about this. Therefore, can street names play a major role when planning on purchasing or selling a home? I performed a multiple listing search for homes in Shady Hollow that were bought since 2000 which are found on the previously mentioned streets with gun- related names. In dollars, 677 is the, 179 sales price on the average with$ 98 per square foot. There were 71 sales on those streets.

The next search was done with homes that were not built after 1993 since they were expensive to build. In dollars, 713 is the, 225 sales price on the average with$ 103 per square foot. Six hundred six homes located on streets with less obvious western names were bought. From this research, homes on streets with politically incorrect names are not a hit in comparison other homes on other streets. This seems contrary to what one would most likely expect if we base it on the gap in their prices. What is interesting to note here is that homes on politically incorrect street names are sold at an average of 37 days and the other homes at an average of 50 days.

One thousand eight hundred eleven square feet is the average lot size of the homes with politically incorrect street names while 2144 square feet is the average for the other homes which explains the gap in prices. This is not exactly a very scientific test. But there is something not right since the smaller homes sell at a higher per- square- foot price but they do not in this particular case. Nevertheless, a buyer should put into consideration whether or not the name of the street might have an effect on the future marketability of the home.

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