Worst places to buy: Why you should never buy a home in these locations

<<>> Arterial locations- There are major arterial locations and minor arterial locations. These locations are usually indentified with a yellow line or a double yellow line down the center of the road. Arterial locations are usually the first roads that get plowed in the winter time. These locations are always busy with traffic. For a residential home, this is usually an undesirable trait. If you buy a home with this kind of a location, always make sure you buy the home for a deep discount and make sure you understand the value of homes located on arterial locations v.s. non arterial locations. The reason why you should never buy a home in such a location is because the home may be harder to sell. When you refinance the home, the value will almost always be more difficult to support. In many cases, the comparable sales will be limited and this will result if more fluctuation in home prices with similar locations as homes located on an arterial street.

Railways- If you buy a home next to a railway, you will have trains traveling by your home once to five times depending on the activity of the railway. If you sell your home you will have to price your home correctly as there will be fewer buyers that will want to live next to a railway for the reason listed above. Homes that are located next to a railway will be more difficult to sale and will be more difficult to refinance based on appraised value, finding supportive data to support marketability and limited buyers who want a home that does not have any external influences.

Water towers- Water towers are dotted throughout my market area. There is one home that I’m aware of in Spokane Valley that is still listed after a year. You can see the water tower from the front street. Homes like this are difficult to determine marketability for because the realtors will try to hide these items from the photo and will not talk about them. This makes them difficult to identify listings and closed sales of homes with views and or homes that back to water towers.

But make no mistake, if a buyer has a chance, they will avoid purchasing a home with a large water tower directly behind the home. If it were me, I would avoid this home if you have others to select from. This home will be more difficult to appraise and to provide support for the estimated value. This home will be more difficult to sell because of the eyesore water tower within view of your home, especially if the water tower is within falling range of your home.

Transmission towers- Many times homes back to greenbelt areas with transmission towers and a buzzing sound with view of your back patio. Many times, marketability for these homes can be easier to identify, based on MLS data, but none the less, these homes will be more difficult to support the value. Any kind of property where comparable sales data will be difficult to locate will result in higher fluctuating prices from year to year based on limited data. There will be fewer buyers that may want to back to transmission towers and the home will be more difficult to sell.

There are lots of decisions to make when purchasing a home. If you find a home next to one of these items listed above, look at different properties and don’t let your realtor convince you that this is the best home you’ll ever find. These types of properties will always be more difficult to sell. You will never be able to remove these external influences in the market. These types of properties will have a limited buyers’ appeal, they will be more difficult to appraise and sell for the reasons above. I just looked at another foreclosure. The home backs to some transmission towers. Do you think this is a coincidence?