Jim Valentine: Location and real estate

Everyone knows that the three most important factors of value in real estate are location, location and location. How to measure the value of location is another matter.

Certain characteristics are obvious value enhancers, i.e., most waterfront properties. The exception being a flood prone property without flood mitigation capabilities. Ocean, river, lake-front – all have great appeal as Americans are water-based recreation folks.

Easy access to recreation enhances value. In Northern Nevada locations near public lands for recreation is a value enhancer. Riding your horse, motorcycle, quad, or hiking out the back of your property is very desirable.

There are other location value factors that come in to play. Work and school wants/needs often affect value when people want their children attending one school over another.

Sometimes people have to live within a certain distance of their work but want to be in a different community for an assortment of reasons. The house located closest to their work that affords compliance will have added value to buyers with that need.

Hobbies and recreational pursuits other than the aforementioned often drive decision making. Do you ski and/or golf and want to be near the slopes and/or course(s)? Do you want pasture for your horses? Do you meet with groups to quilt, exercise or share another common interest? The drive of love of recreational pursuits is a big one and has a large effect on real estate desirability. Family and friends, too, can affect your location decision.

This works two ways – you might want to be close to them… or not. Some want to walk back and forth and see one another often while other times just being in the region is enough for those occasional times when you get together. When you make that decision the preferred location of homes you like will be established.

The majestic beauty of Northern Nevada can drive a buyer to a location where the breathtaking views make them feel good every day. Those are strewn about the countryside as there are so many good views to be had so the view property location decision is often combined with another locator factor, i.e., close to shopping, doctors, movie theater, etc.

When the right combination is found the joy is apparent in the buyer and the value of the property solidly confirmed. Be sure to clearly identify your real estate wants and needs and the location factors will bubble to the surface.

Your agent can help you match your “list” to the market and neighborhoods that will be best suited for you. As you learn the neighborhoods that work well for you the home search can begin in earnest. You’ll appreciate the “location tariff” you’ll pay for the ideally located home and you’ll understand how it stacks up against the balance of the market.

When you understand the nuances of the locations in the region you want to move to, you’ll very quickly narrow your search down to those that are possibilities with the understanding of how each will impact you emotionally and financially.

As you make the decision on your house to buy you will find yourself weighing location against home features and working that three-dimensional puzzle to the close of escrow.

It is important that you remember that your location will also be a large factor in the success of the sale of your property when you are ready to move on. Quality always sells – buy the best location that you can.

When it comes to choosing professionals to assist you with your Real Estate needs… Experience is Priceless! Jim Valentine, RE/MAX Gold Carson Valley, 775-781-3704. dpwtigers@hotmail.com.