I'd add that there are a lot of really great apps you can download onto your smart phone to search for homes. If you are out and about and happen past something you are interested in, these apps track where you are and bring the information right to you. Pictures, descriptions, lots of good information. My brokerage First Weber has one, as does Shorewest. You can also download trulia or zillow apps.
In the era of looking for homes on line, (over 80% of home buyers start looking online) when a potential buyer actually takes the time and effort to pull in the driveway of a home for sale, the curb appeal is seen and heard and felt for the first time. We all know that you never get a second chance to make a first impression. So...showing a home at a time when the traffic is minimized is something to consider when scheduling to show a home. The 3 o'clock rush hour when the schools let out, or the obvious 5 o'clock rush hour should be avoided if at all possible.... more
I think the answer to the first part of your question, the 'major factors in value' is -yes-.
You are correct on the second part about putting a specific percentage. If you are referring to how much traffic one has to deal with to get home and the distance/time to get there, there is an impact. It's probably not studied in the way you want but every buyer takes that under consideration. If I have a buyer who is thinking about buying an extra 1/2 hour away from town because the prices are 20K cheaper, I ask them to figure the cost of transport and the time lost and how that money could be put into a home and family time instead of a gas tank and drive. A person can save close $40k purchasing power by saving $200 in gas. If you are asking this because you are considering where to purchase, I would take a simple formula of $5 per $1,000 of purchase price ($40 = $200) and consider what you want to spend the $200 on - a house or gas. If you value a more rural location and the travel does not bother you and you would be happier, the $200 is better spent on travel expenses.... more