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The Hagley G…, Real Estate Pro in Pleasanton, CA

Does being across rom a park add value to a home?

Asked by The Hagley Group, Pleasanton, CA Sat Aug 18, 2007

I've heard both sides of this question. Curious as to your thoughts.....

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Buying a property close or near a park or school is usually a positive thing. Accross the street can have problems....i.e. parking, traffic, noise, potential problems with drugs. Close but not across the street can have several deterrants. Good luck.
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0 votes Thank Flag Link Sat Aug 18, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
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If it's CENTRAL PARK, yes! If it's the local crack park, no! :) But as another poster said, you know this. I guess if the readers don't ask the questions we ask them ourselves?
3 votes Thank Flag Link Sun Aug 19, 2007
Quiet parks that are well maintained are a plus. The pleasant park that is host to too many parties and ball games becomes a drawback for a seller and eliminates potential buyers from his/her pool, and detracts from the value of the home.

Does the park compliment the desired lifestyle of the buyer? The work at home professional who needs quiet for concentration or business phone calls will not find the boisterous laughter of children pleasant. to another, that sound may be music for the soul.

This is but only one perfect example of why Zillow and the like can never accurately define vaule from a computer thousands of miles away.
2 votes Thank Flag Link Sun Aug 19, 2007
Deborah Madey, Real Estate Pro in Brick, NJ
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You know better, Cindi! It depends! Depends on the type of park, size of the park, the target buyer, etc. If you have a property geared towards families, it will most likely be a plus. Provided that the swing sets and jungle gyms are not right next to your master bedroom window! And, of course, provided that it is not a run down drug infested cesspool of a park. If you have a 1 bedroom/ 1 bath condo that is geared to the single professional, I'm not thinking that a park will be a positive. Everyone likes buffer space from their neighbors, but sometimes it's not really a buffer (i.e. kids playing in the park). In AZ, lots that back to natural washes and open common area generally command higher values because there is not a lot of pedestrian activity. Pretty to look at too. Parks are a wildcard.
1 vote Thank Flag Link Sat Aug 18, 2007
Depends on the park? Is it a place where drug dealers and gangsters hang out. If so, there's a downside. What are the hours of the park? Is it open all night? Are there lights on the fields that might keep people awake? Is there any noise from the park? Some of those might be the downside.
Of course if it is well kept, low traffic, and a peaceful place to walk or play, then it could be a bonus.
0 votes Thank Flag Link Mon Aug 20, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
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Hi Cindi:
I agree that it depends on the neighborhood. Before I became a home owner, I thought it would be an idealic setting for raising children etc.

However, I opt for a little distance now rather than closer. Picnics, events, and parties (big ones with megaphones & lots of vehicular traffice) are not my cup of tea. I don't mind attending - I just don't want all that activity in my front yard...

So - I would say in the long run, when it comes time to sell your home years down the road and these problems manifest over time to be "major" I believe the value to the home would be in the negative.
0 votes Thank Flag Link Sun Aug 19, 2007
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