Six Hundred Six Homes Located On Streets With Less Explicit Western Names Were Sold

Category: Finance, Real Estate.

We re buying some lots in Oak Hill, and I just realized that other people who are purchasing lots on my street don t like the name of the street on which our lots are located and have asked the developer to rename it.

Sisquoc is a Chumash Indian( from California) name that loosely means" stopping place. " There is a California river that they call Sisquoc River. The name of the street is" Sisquoc, " which I think is a cool name. The other buyers are having a hard time saying and spelling it. The city is having the name of the street changed to" San Lucas. " So this has gotten me into thinking of the various names of Austin s streets especially those that are more adverse than Sisquoc. Jeez, give me a break! Some streets in Shady Hollow which is a subdivision in South Austin have names such as" Ammunition, " "Gun Fight, " "Six Gun, " "Shotgun, " and" Shoot Out. " I asked Sylvia if she would live on a street named" Gun Fight" or" Shoot Out" and she answered" No way! " Somebody on the liberal party would probably give up his dreamhouse on" George W. Will a loyal Christian Conservative not buy a house on Devil s Cove?

Bush Blvd. " Brisket Ln. would probably not be a good home for a vegan. And therefore, would street names have an effect on the desirability and marketability of homes if the name is one in which a person could be offended? Using an MLS search, I was able to get data about the homes in Shady Hollow sold since 2000 that have gun- related street names. I went on to study more about this. There have been 71 sales on those streets. The next research was done with homes that were not built after 1993 because they were costly to build.

The average sales price is$ 179, which is equivalent, 677 to$ 98 per square foot. Six hundred six homes located on streets with less explicit western names were sold. It seems that the homes with politically incorrect names do not sell for as much compared to other homes in the same area. The average sales price is$ 225, which is equivalent, 713 to$ 103 per square foot. What is interesting is that homes on politically incorrect street names are sold at an average of 37 days and the other homes at only 50 days. The politically incorrect homes were an average of 1811 square feet while the others averaged only 2144 square feet, which would explain the sales price gap. This seems contrary to what one would intuitively expect if we base it on the price gap.

But there is something not right because the smaller homes sell at a higher per- square- foot price but they do not in this particular case. Nevertheless, among the other factors a buyer should consider when deciding on a house is whether or not the name of the street might have an effect on the future marketability of the house. This isn t exactly a very scientific test.

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