Expert: Sue Bernstein - 7/6/2008

Question
I'm considering buying a four-year-old former model home that's located on a corner lot at the entrance of a relatively new housing development. The model is being sold at at GREAT price and is in wonderful condition. I've been told that resale value for corner lots is poor.  The property has a small back yard (which I prefer) that backs up to a wooded area. The cross street for this home has no side walk and has a fair amount of traffic, but is not noisy or heavily traveled. The cross street is also separate from this property by landscaping (mostly pine trees and substantial shrubs). Do you think the resale will be a major issue?

Answer
Dear Lynn,

There is differing opinions on whether corner homes are preferable or a negative.  Many people like corner homes as it means you don't have houses on all sides.  When you go to sell everything will depend on your pricing.  The same reasons the property is attractive to you will be attractive to others.  If you like the property and everything else is right just know that you will price it based on how it compares to the other neighboring houses.

Hope this helps.

Sue Bernstein