Is it absolutely stupid to buy a house off a busy street? The inside of the house is the nicest i've seen, and i've seen 100's over

Asked by Jyl, Portland, OR Sun Sep 27, 2009

the last 8 months

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Carla Muss-J…, , Portland, OR
Mon Sep 28, 2009
BEST ANSWER
Jyl -- seems as if you've received some good responses. I wrote a blog about this VERY thing. Please feel free to read it, but most important . . . read the great comments received.

Carla Muss-Jacobs, Broker/Owner
EBA Portland, LLC
Exclusive Buyers' Agent
Assisting Buyers in Metro Portland since 1999
http://www.EBAPortland.com
2 votes
Wayne Pruner, Agent, Beaverton, OR
Sun Sep 27, 2009
After 8 months and hundreds of houses, you know thw market as well as anyone. I'm assuming this is your first house and there is always a compromise to be made on your first house. I'd say, "Buy the house." Analyze time on market and push for an even better deal.
2 votes
Jyl, Home Buyer, Portland, OR
Sun Sep 27, 2009
Thank you all so much for your time and expertise! I think I'm going to go ahead with the sale...I really do love the house and I think the fence and water feature are great ideas. I feel very lucky to have found a house i love for my first home!
1 vote
The Stephen…, Agent, Portland, OR
Sun Sep 27, 2009
A busy street lowers the price by 10 to 20K per surrounding comparable homes. If it is worth it to you and makes sense in neighborhood comparisons, go for it. Also, it may be a good idea to invest in a good fence or landscaping to block out the noise, and or danger.
1 vote
Kazuko Kat A…, Agent, Beaverton, OR
Sun Sep 27, 2009
Hi Jyl,
If that's the case, I would say go for it! If the bedrooms are not on the street side, it probably won't bother you so much. Just know that when it is time for you to sell, it may take you a little longer and you may have to sell it for a little less than a nearby house that's not on a busy street. Take that into consideration when you negotiate to buy this house.
You may find that adding a water feature will mask the street noise nicely.
Good luck!
Kat
1 vote
Deb Counts-T…, Agent, Portland, OR
Sun Sep 27, 2009
Jyl, if you love it, that's the first hurdle over with. Street noise will always be an issue in resale, but when you are ready to sell, you will find someone who loves it also - it just may take you longer to sell than the house a few blocks in.
Web Reference:  http://www.welcometopdx.com
1 vote
Joe Salcedo, , San Jose, CA
Sun Sep 27, 2009
Hi Jyl,

Well it depends on the value of the property and also the buyers necessity may
be close the bus stop or school might be good for the buyer. I have a buyers
before that he want a busy street. Again the value of the property should value at
the fair market minus approximately around $ 10,000. for the busy street. Again it
depends of the buyers...
0 votes
Janeese Jack…, Agent, Portland, OR
Sun Sep 27, 2009
Jyl: there's no right or wrong in real estate and homes are bought and sold on busy streets all the time. If you've seen that many homes and have had no luck securing one of your own, then you know the market very well. It's "location, location, location" followed by "pricing, pricing, pricing", so make sure the price reflects the location!! Otherwise, follow your gut and your heart. You need to be happy in your home....
Janeese Jackson, Principal Broker
Real Estate Resource
503-709-0802
0 votes
Patrick Thies, Agent, Anytown, IL
Sun Sep 27, 2009
If you plan on buying the house as investment and making a killing when you sell, then it's probably not the best choice. If however you really like the house, it suits your needs and you can get it for a good price, then maybe it is a good choice. It's what the house is worth to you that matters.

The house should be priced accordingly for it's location against the rest of the market and will be priced accordingly when you go to sell.
0 votes
Jyl, Home Buyer, Portland, OR
Sun Sep 27, 2009
Follow up: I've looked for a house close-in NE Portland for the last 8 months. I've made several offers but was either outbid or was not fast enough and the house went under contract (sometime in a number of hours!). I realize that I cannot afford what i want in NE, and stumbled across a great house in SE off Holgate. The side of the house is on a busy street. The house has new windows and all of the bedrooms are not on the "street side" of the house. The noise really doesn't bother me, but i'm concerned about resale value. Otherwise, the house is 100% my dream home and i absolutely love everything about it. I'm getting it for a great deal. What do you think? THANKS!!!
0 votes
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