Home Buying in Seattle>Question Details

Foo, Other/Just Looking in Seattle, WA

Does corner lot sell slower and for less value?

Asked by Foo, Seattle, WA Fri Jul 19, 2013

Hi all, I am considering buying a corner lot house in Sammamish WA. Everything (school district, walking score, floor plan, neighborhood, natural light, ok-size backyard, etc.) is good except 1) it is a corner lot next to a major road (no through traffic) inside the community, 2) the master bedroom is just 6 meters to the speed bump (15mph) on that major road. Shall I stay away from such corner lot house? Do you folks see any risk in reselling this property? Is corner lot a red flag to most buyers? Is corner lot of less value than non-corner lots (if comparable) in the same neighborhood? Thanks a lot!!

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Answers

4
Some people like corner lots and some people don't.

I'd worry more about living in a neighborhood with speed bumps. Those are a clear negative, but you're also probably getting some price advantage because of it.
0 votes Thank Flag Link Fri Jul 19, 2013
Why is speed bump a clear negative? Thanks!
Flag Sun Jul 21, 2013
The rule is, a corner lot is usually a good thing. However, a busy street is a busy street and busy streets are not a good thing. You are wise to be concerned about the close proximity to traffic. At night, with your bedroom window open, you'll hear each car that slows, then accelerates over the speed bump. I'd say pass on this property. Of course, if you're not bothered by traffic noise, and if the price is right, then it's really up to you. Danny (below) makes an important point. Someday you'll sell this property. Will future buyers be concerned about the close proximity to the street? Good luck with your decision.
0 votes Thank Flag Link Fri Jul 19, 2013
The house address is 3107 235th Ave SE, Sammamish WA 98075 (listing price $650K). 235 PL SE is one of the three major roads in/out the community. It is definitely not a busy street like in commercial area. I believe the traffic are the residents in the community (no pass-through traffic, I guess), busy times are to/from work hours. Further opinion? thanks.
Flag Fri Jul 19, 2013
If you're having concerns about the property for these reasons it's safe to assume another buyer will too, right? Per Steven's comments below, he's right. A corner lot will offer lots of perks and benefits to value others won't. However, if it's close to a major road and has other imperfections that even you're noticing, it's safe to assume others will have those same concerns down the road when you decide to sell. Ultimately, it will depend on if the price of the home is within your value range to look past those imperfections. Hope that helps.
0 votes Thank Flag Link Fri Jul 19, 2013
A corner lot is generally a good thing. It offers more privacy, access and often, more light. In most circumstances it would offer more value at the time of Sale, and should in not be considered a less desirable location than a centrally located one.
YMMV, among things that would affect value and desirability are the location of the lot, and where the home sits on the parcel.
0 votes Thank Flag Link Fri Jul 19, 2013
Thanks, Steven. the fenced backyard is next to the front/left yard of another house, and also next to that major road. I think the privacy is ok, but not great. Could that speed bump noise be annoying?
Flag Fri Jul 19, 2013
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