Anytime you own a property on a busy street, you have the road noise to deal with. To sell a home on a busy street, you have to discount just for the busy street. The reverse is, when you buy a property on a busy street you have to buy at a discount.
So, if your comparables are the same size, quality, etc. but they are a block or two off the busy street, far enouph away that the road noise is no longer a factor, then you discount $25,000 to $75,000 for a road the size of Bothell Way NE. The amount of discount depends on your prices range and the current market conditions..
When the market is a Buyer's market, such as now, there is more inventory and the buyer has the advantage, so the discount is steeper. When the market is a Seller's market and there is less inventory from which the buyers can choose, the discount is less.
On my website, http://www.karenmcknight.com , you can find some graphs that show you Market Trends by clicking on "Market Statistics". You can also do a search for comparable properties in the Lake Forest Park area.
The "no show".
People see the house on the internet. It looks fabulous. They make an appointment to see it. You clean for two hours making everything perfect and leave your home during the showing.
The agent pulls up with the clients and the clients say "I don't want to go in" or the agent forces them to go in and pretend they are "looking at the house" even though they decided from out front that they don't want it.
It's a heartbreaker and a huge inconvenience, especially for a family with children. The Mom is usually crying that she made her children not touch anything for two hours, cleaned her house to showing condition, took the kids and the dog around the block 50 times waiting for the people to "come"...and they don't even come inside.
If you are a single person who travels a lot...not such a big deal when it comes time to sell the house. But if you are a family with a dog and 2 small children when it comes time to sell...the Mom is usually on the verge of a nervous breakdown by that time it sells. That's the hard reality that agents see time and again over the years. It's a heartbreaker. Lots of stress and tears usually by The Mom vs the man of the house.
Every property represents some sort of compromise, marketwise. You can get a bigger house for the same money on a busy street, or you can get a smaller house for the same money on a quiet street.
The truth is, when you drive by at night, there are lights on in the busy street houses as well as the quiet street houses. It really comes down to whether you need the space or can get by with less.
Then, the secret comes from remembering, when you go to sell, why you bought it in the first place, and then price it accordingly.
Often that is that you can't afford a house off of a busy road. For instance, I know many parents who want the very best schools for their children, but can't afford to live in the school boundaries. Often the house on the busy road accomplishes their primary objective, which for them is to live in that school boundary.
What is your primary objective and can it be achieved without living on a busy road? If the answer is no, then maybe house on a busy road is for you.
As to living on a busy road, I will add dirt in the house. The road traffic kicks up more dirt into the air and you will need to clean and dust more and change your heater filters more often, etc...
Once in awhile a house on a busy road is a spectacular home with a lot of character, built in the days when it was the only home on a very large lot. Over the years the land was sold to developers, leaving the gem of a house on a busy road. There was one like this in Kirkland recently that sold for over a million dollars. There was a "compelling reason to buy" that house on a busy road...it was awesome and could not be duplicated in a quieter location.
What is your compelling reason to buy a house on a busy road? You may have a good one. If you don't, then the answer is don't do it.