Noises that hurt home prices
Airplanes buzzing overhead, trains roaring by, or that bustling 24-hour supermarket can all take a toll on your property value. But, by how much?
The study sounded the alarm on airports as the worst offender. Sellers within a 2-mile radius of an airport likely will see a 13.2 percent hit to their sales price, the study says. Railway tracks are close behind, with a 12.3 percent decrease to a home’s sales price.
Indeed, noise-cancelation headphones may make the perfect closing gift if your buyers opt to live next to one of these places.
Here’s how certain noise disturbances are chipping away at property values:
- Airport (within 2 miles): 13.2% (average discount)
- Railway track (within 0.1 mile): 12.3%
- Highway (within 0.1 mile): 11.3%
- Busy road (within 0.1 mile): 9.5%
- Hospital emergency room (within 0.5 mile): 7.6%
- Busy church (with weekly attendance of 2,000 or more and within 0.5 mile): 5.2%
- 24-hour supermarket (within 0.1 mile): 5.1%
Source: “Decibel Hell: The Ear-Splitting Things That Will Disturb Your Home’s Value,” realtor.com®
About Empire Appraisal Group, Inc.
Establish in 2005, Empire Appraisal Group, Inc., is Broward County’s leading residential appraisal company as a result of their accurate and reliable appraisals, excellent customer service, and quick turn times. When working with an appraiser, integrity and professionalism are essential, and Empire Appraisal Group has a well-established reputation for providing the best appraisal experience. Daniel Lindeman, the Chief Appraiser, is considered one of the top property appraisers in Florida, with nearly 15 years of expertise and 7,000+ appraisals to his credit.
We ‘specialize’ in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO’s and more.
We also work closely with realtors to help establish listing prices, these pre-listing appraisals ensures sellers get top dollar for their home.
In addition, to homes of all shapes and sizes, we also appraise condos, multifamily homes, boat docks, land, as well as specialty properties. No job is too big or too small, from manufactured homes to mansions.
Call Empire Appraisal Group directly with any questions concerning your real estate values at 561-441-9298. Also, check out our ‘Reviews’ page and see what others are saying about Daniel Lindeman and Empire Appraisal Group, Inc.
We provide residential appraisal services to all cities in Broward County: Parkland, Coral Springs, Coconut Creek, Dania Beach, Cooper City, Davie, Deerfield Beach, Fort Lauderdale, Sunrise, Hallandale Beach, Hillsboro Beach, Hollywood, Lauderdale by the Sea, Lauderdale Lakes, Lauderhill, Lighthouse Point, Margate, Miramar, North Lauderdale, Oakland Park, Pembroke Pines, Plantation, Pompano Beach, Sea Ranch Lakes, Tamarac, Weston, Wilton Manors