Evaluating Properties - Tip 5 - Double Yellow Lines
Do you want to live next to a highway , a coal mine or industrial factory? Most likely the answer is no. If you are trying to sell your property near one of these places, chances are other people will not want to live there either. We call these "double yellow lines". These are factors that alter the sale of a property due to their lack of desirability to live near them. This does not mean that the property will never sell, but it does mean you have to take into account the fact that the property isolated in a quiet neighborhood will sell for more than the one bumped up against a major highway. This is considering they are in the same condition. It is hard to say exactly how much the double yellow lines impact the sales price but it is better to be on the side of conservative with these. Ideally you will be able to find another comparable property that is backed up to the same double yellow line and then have a strong idea of the value.
Ian Walsh
215.839.3271
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