Home Buying in Shrewsbury>Question Details

megatron, Home Buyer in 01545

Shrewsbury Home Value Question

Asked by megatron, 01545 Sun Jan 22, 2012

If your home is next to "SHREWSBURY TOWN OF HOUSING AUTHORITY" property, is it going to decrease the value of your property ? looks like it is the only property in the neighborhood that is owned by them.

I think the housing authority provides an affordable housing for section 8, disable or elderly individuals.

Thanks

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BEST ANSWER
Hi Megatron,

It all depends on the area. Many towns, Shrewsbury included, designate some properties as "affordable" to assist the consumer who might not otherwise be able to afford to buy a home. It does not necessarily mean there is anything wrong with the house...and in many cases...it might be in better condition because the Housing Authority owns it.

If you have further questions, I'd be glad to answer them as I know Shrewsbury well.

Best wishes!
0 votes Thank Flag Link Mon Jan 23, 2012
In short, there are multiple answers. If you're talking about the tower on North Quinsigamond Ave, that would be one issue...if it's Francis Gardens, that could be different.

In the end, it has nothing to do with who lives there, or whether or not it's owned by the town. Rather it has to do with whether you can see "apartment buildings" from the home. Whether they are luxury apartments or subsidized housing, less people want to live overlooking apartments, which means fewer buyers, which means lower values.

At a time when there are many choices for great homes without that issue, that's something to keep in mind.

Steve Levine
REMAX Prestige
Shrewsbury's Top Realtor since 1992
http://www.shrewsbury-massachusetts.com

For more information on the Shrewsbury Real Estate market, please view my free Shrewsbury Real Estate video at the link below.
0 votes Thank Flag Link Mon Sep 10, 2012
Thank you so very much for the "Best Answer" Megatron! I appreciate that and hope you have found the answer you were looking for!

Warm regards,

Judy Boyle
RE/MAX Signature Properties
Serving the Boroughs and Beyond!
0 votes Thank Flag Link Fri Jan 27, 2012
There are many reasons why a home may have negative feedback. Being near an airport, apt complex with lots of foot traffic, main rd ect. It depends on the buyer's preferences.
0 votes Thank Flag Link Mon Jan 23, 2012
Best way to find out would be to look at the average sales of comparable properties on the street in question and compare it to the average sales on surrounding streets. Hard data will give you the facts :) You can also see if the days on market are longer compared to other streets.

http://goo.gl/rfd1x

Happy to pull the data for you:
http://territory.com/about_us/management
Web Reference: http://territory.com
0 votes Thank Flag Link Sun Jan 22, 2012
Megatron,

A local realtor who knows Shrewsbury would be your best source... but I can confirm that a property adjacent to affordable housing will limit market appeal... and therefore re-sale will be more difficult. Having said that, if you love the house and you can get an excellent deal on it... then it may be the property for you.

If you don't already have a buyer's agent working for you, I would encourage you to ask friends and colleagues to recommend a good agent in the Shrewsbury area.

Good luck in your search.

Tom Lynch
Associate Broker, Massachusetts, New York and Connecticut
Berkshire Property Agents
12 Railroad Street
Great Barrington, Massachusetts 01230
0 votes Thank Flag Link Sun Jan 22, 2012
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