Home Buying in 93010>Question Details

Monica, Home Buyer in Moorpark, CA

iam buying a house close to old town, schools and a easy freeway acces, it location is a good thing to get a good resale value??

Asked by Monica, Moorpark, CA Fri Jul 30, 2010

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Hi Monica,
I hope your purchase went well for you in Old Town Camarillo CA. In the event you know of someone looking, I will be listing a 3/2 apx 1200 sf in the next few weeks, in Old Town. This mid-Century classic offers a 2-car garage, hard-wood flooring, newer dual-paned windows and a back yard.. . No HOAs, of course!
0 votes Thank Flag Link Mon Mar 25, 2013
Location is very important in resale, whether it's pricing or length of time on market.

Not knowing Moorpark, I can not advise you on your specific location, but in general, Location is one of the first criteria a buyer look at when buying homes.
0 votes Thank Flag Link Sat Jul 31, 2010
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
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Hi Monica,
Close to Old Town and 'in' Old Town are two different neighborhoods. The Kaufman and Broad community is highly impacted by the 24/7 freeway noise, especially since the 2nd floor contains the bedrooms where people eill be sleeping. If you are buying actually an Old Town home, yu'll want to be aware of issues with older wiring, and whether the electrical service was upgraded. Also, look closely at the plumbing - was it upgraded to copper pipes? The hardwood floors from the 50's may have termite and dry-rot issues, so you'll want to especially pay attention to the structural. People don't really buy in Old Town for the resale value, as much as they do for the feeling they get and the proximity to Ventura Blvd. shopping.
0 votes Thank Flag Link Fri Jul 30, 2010
Monica,
Yes it can help resale value. As an agent, I often get requests from clients preferring locations close to good schools and amenities. If a buyer needs to commute a location close to a freeway can be a plus. However, if a home is situated too near a commercial establishment, school, freeway, busy street etc. the resale possibility can actually be diminished. You may pay less for this type of property (with what is considered a "nuisance" nearby), but remember you will also sell for less than other comparable properties away from these nuisances and you will have a longer resale period. So, to best sum up, choose location wisely. Close enough to those items to be inviting, but not so close as to be distracting to the value of the property for resale.
0 votes Thank Flag Link Fri Jul 30, 2010
Yes.

Generally, location is a very good thing.

The drawback sometimes is traffic congestion and noise.

But, generally, the closer you are to transportation (highways, subways, bus routes), shopping (both food and other things), entertainment, and so on, the higher a property's value. As I mentioned, sometimes the trade-off for location is traffic congestion and noise. If a home backs up to a major highway, that's not so good. If it's right across from a school, and you'll have school buses jamming the roads for hours every day--along with lots of screaming kids--that's not so good. If you're right at the end of an airport runway, that's not so good.

You get the idea.

But if you can balance convenience and location with the quiet and security that most people want, that's a good thing.

Hope that helps.
0 votes Thank Flag Link Fri Jul 30, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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