Boca Raton, FL · Member since 2015 · 135 posts · 132 votes
What is the general criteria people are using to define a type of neighborhood? I get the idea that A properties are in nice areas and D properties are in not nice areas.....but is anything else determined just by the neighborhood classification?
If you have a really old house, but if its in a nice area, is it still an A?
Does the condition of the home matter or is it just the actual neighborhood?
How do you even determine what is a nice area and what isn't and therefore assign a classification to it if you are looking outside your local market and are unsure?
Does the condition of the home matter or is it just the actual neighborhood?
IMO the old saying, location, location, location is overrated. It is a big one, but once buyers are in your home, they determine if it is a place they can work with and call home. It has never paid off for me when I tried to leverage a home based on the neighbors home. Well, unless you have a home next to a dump with 6 trucks and a excavator in the front yard. Than you can be sure the neighborhood will have an impact;)