Who knew. It takes a tree
Started by Riversider
over 12 years ago
Posts: 13572
Member since: Apr 2009
Discussion about
http://online.wsj.com/article/SB10001424052702303722604579113230353966564.html?mod=e2tw In an analysis of 2,608 real-estate transactions over 10 months, researchers found that homes with "street trees," those planted between the sidewalk and street, sold for $7,130 more, on average, than homes without street trees. What's more, homes with street trees sold 1.7 days more quickly than homes without... [more]
http://online.wsj.com/article/SB10001424052702303722604579113230353966564.html?mod=e2tw In an analysis of 2,608 real-estate transactions over 10 months, researchers found that homes with "street trees," those planted between the sidewalk and street, sold for $7,130 more, on average, than homes without street trees. What's more, homes with street trees sold 1.7 days more quickly than homes without street trees, says Geoffrey Donovan, an economist at the U.S. Forest Service's Pacific Northwest Research Station in Portland, Ore. Neighbors can reap the benefits as well. Homeowners who live within 100 feet of street trees enjoy a sale premium of $1,688, on average, even though the trees aren't on their property. [less]
They also make good firewood between contract and closing
You'll need the extra $7,130 to pay for damages the tree might cause to the roof, gutter, windows, walls, sidewalk, sewage, water main, etc...
Another way to look at it is, perhaps these homes are getting the extra $7,130 because they advertised to have new roof, new windows, new sidewalk, new sewage, new water main, new renovations (required due to water damage), etc...
This is not NYC, this is a national study.
Houses in developments or areas with Belgian block curbs also have higher value than those made of asphalt.
http://gothamist.com/2013/10/21/new_website_tracks_how_many_people.php
one good thing about new construction...