How can two, ten-year-old homes with the same square footage, nearly identical floor plans and only a few blocks from each other vary in price by more than $10,000?
Forgetting, for a moment, the interior improvements that set one home apart from another, there are exterior factors that also influence price. For instance, homes on primary ingress and egress streets (that is, the main streets that lead in and out of a tract) generally appreciate more slowly than those within the tract that are not on primary streets. Primary ingress/egress streets generate more traffic and are therefore, generally less desirable. Thus, they have lower prices. Within a tract, a home on a cul-de-sac may generate a higher price for the same reason-less traffic. Cul-de-sacs are frequently like a maze and they discourage drive-throughs, which is, of course, a definite benefit to residential privacy. Even properties on one side of a street can be worth more than a similar property across from it. Why? Certain communities, because of their name, are more prestigious than others. Beverly Hills, California, of course, is one. It is known worldwide for its high-end shopping,
