Results Realty Buzz: Location! Why I think it is so important!

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Location! Why I think it is so important!

I just read a post that Robert Monk wrote about Location, Location, Location.  His premise was that we need to remind our clients of three little things location, location, location.  I could not agree more.

Why location is so important!We learned this lesson the hard way over the years.  Our first home was at a lake in Kansas 30 minutes from Wichita.  We were using an FmHA loan as we had little or no money at the time so it had to be in a rural area.  We bought next to a bar at the lake; young and dumb is all I can tell you.  At the time we were told there was a permanent injunction against the bar and it would never be opened again.  Two months after moving in the Dry Dock Inn opened for business.  That was 30 year ago so I don't know they would get by with telling us something that was not true like that today.  That was not an easy home to sell but we moved to Colorado and left my Mother in charge of selling it (again I can say young and dumb).

Our next home purchase was in Colorado.  We bought a factory built home.  They would build these homes in factories and then plop them on a slab.  This home backed up to a pasture with a great view of the Colorado front range.  The problem here was the land that was behind us was zoned light commercial.  The entire time we lived there we were wondering what it would become.  Years later it did become a church; which would not have been so bad.  I was envisioning all kinds of things.  My husband loved that view and to this day would tell you that was the best home we ever had.  My reply to that is, "we did not have our own master bathroom"Be careful what your home backs to..  I guess it is all a matter of perspective.

From there we moved to a larger home (with our own master bathroom).  The problem with this home was that it backed up to a road and as it turned out a very busy road.  We went from this incredible view of the Front Range to a nice big noisy back yard.  We had a wonderful rock garden but I would tell the kids not to go clear to the back as I was always afraid that someone on the road would not pay attention and plow in to the fence.  We have always been outside people and we got to where we never went in to our back yard because it was like living in Grand Central Station with all the noise.

We do learn by our mistakes.  O Home backing to a lake.ur next home was in Greensboro North Carolina.  This time we bought backing to a little lake, on ¾ acre and we owned part of the lake.  This was a wise move as my husband's company only kept us there a little over 2 years and by having such a dynamite location I was able to sell the house myself.  This was actually my first foray in to real estate.  I knew we had a great location and with 15 years of sales experience behind my belt I made selling that home my career for a couple of months.  This was one of those life changing moments as I found I loved real estate and when we moved to Texas I immediately became a Realtor.  Being a FSBO was definitely more complicated than what I thought and I don't know if I could have done it myself without my dynamite location and the fact that I made it my full time job.

As I said we do learn by our mistakes and when we moved to Texas we were the first to build in our subdivision.  We picked a lot at the end of a long cul-de-sac as we knew we wanted something quiet.  We had the option of the two lots at the very end that backed up to a vacant field but been there done that; we picked the lot next to the one that backed to the vacant field.  Oved the years I have heard those two neighbors who bought backing up to the vacant field wondering what it was going to be.  Everytime I hear them I am glad we made that decision.  The land is owned by the Woodlands and it appears from the maps we have been seeing that it is going to be homes going in behind them; so that is good.  It however looks to be patio homes and we have big lots so they could have several back yard neighbors. 

This is my history of why I think location, location, location is so important!  If you are going to buy a house that backs up to something whether it be a road, strip center, vacant field or whatever you just need to keep in mind that you might be getting your home for a good deal now but when it comes times to sale you will probably have to sale for less than other homes that don't back up to whatever.  Since we don't have zoning in the Houston area that even makes it more imperative to watch what you back up to!

For all your real estate needs, contact me today!
Marchel Peterson
Results Realty
Cell: 832-721-8332

 

Comment balloon 29 commentsMarchel Peterson • October 01 2007 01:23PM

Comments

Location has always been a factor.   Even in the United States of TX.  :-)
Posted by Daryn Gleghorn (Old Republic Title) almost 11 years ago
Its paramount. Good example, there was a home for sale, built in the 40's, one bathroom, two bedrooms and not much else. Oh, and just over 1,000 square feet. Asking price: $1 million dollars. Why?  It was located in Downtown Las Vegas, adjacent to a high rise project. Location is king.- Charles
Posted by Jacqulyn Richey, Las Vegas Real Estate (Prominent Realty Group) almost 11 years ago
Daryn, you are right it is a big factor, even in the United States of TX.  Since this part does not have zoning that makes it even more critical.  Thanks for stopping by.
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago
This blog stresses the importance of knowledgeable agents.  If someone tells you something about a property... you are bound to "check twice" for your client's sake. 
Posted by Martinelli Caputi, & Associates, Ltd. (Martinelli Caputi & Associates, Ltd.) almost 11 years ago
Jacqulyn, WOW, that's a great example of location being king.  My husbands family has 400 acres in Kansas that is not worth much because there are NO PEOPLE around it.  You are right location is king!
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago
Richard, you are right I learned that lesson the hard way.  Young and dumb, but I do learn by my mistakes and always check out the source the information comes from now.  Since we don't have zoning that if incredibly important here.  Thanks for your comment!
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago
Marchel - The value of location is often understimated by the seller and the buyer. Even something as simple as the lot location within a neighborhood can amount to a difference of $1,000's of dollars.
Posted by Paula Henry, Realtor - Indianapolis Real Estate - 317-605-4174 (Home to Indy Team @ HomeSmart Realty Group) almost 11 years ago
I have a client that thinks her lead line should be Location, Location, Location - she does have a great location -however - does the buyer really need to know that.
Posted by Thesa Chambers, Principal Broker - Licensed in Oregon (Fred Real Estate Group) almost 11 years ago
Paula, you are so right.  We have so many homes that back to streets and some of them busy streets and those homes usually sell for less than the one across the street that doesn't back to a street.
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago
Marchel I think you are quite right about location and that is why I felt so fortunate to have Candy Henthornes help in purchasing my first home. I was clueless, but ended up in a great spot because of her. I recommend people to listen to the advice of a good Realtor such as yourself. It really makes a huge difference in a number of areas!
Posted by Shellee Ashmore (The Inner Iris Photography) almost 11 years ago
Marchel--Location is always important but critical in a buyers market with so many options to buyers. In a sellers market someone might buy that home on a busy interstate or near a factory. But when you have 50 homes for every buyer, they go right on past it. Funny how you have to learn from experience. But your clients can learn from your experiences now that you are a Realtor! :)
Posted by Teri Eckholm, REALTOR Serving Mpls/St Paul North & East Metro (Boardman Realty) almost 11 years ago
Teri, it was a difficult experience to learn as I did it the hard way but you are right now I can pass that experience on to my clients so hopefully they won't have the same experiences.  That is if they will listen!  Most do but I had a young couple several years ago that bought backing up to a busy road even though I told them what I went through and sure enough they had trouble when it came to resale.
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago
Marchel, that was really fun to read. So true too. We try to keep our buyers from making fatal mistakes like no basements, busy roads etc. I enjoyed your post down memory lane.
Posted by Missy Caulk, Savvy Realtor - Ann Arbor Real Estate (Missy Caulk TEAM) almost 11 years ago
Missy, we made quite a few blunders along the way but the first one was our biggest, buying next to a bar!  I too try to keep my buyers from making those some fatal errors that I made.
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago

Marchel...it's adorable how we stumble around when we're young and dumb. As recent as 8 years ago we were living in a one bedroom cottage on a dirt road with my baby boy's wagon as our couch.

With your experience it gives you compassion and first-hand knowledge that your clients can rely on. Thanks for being a friend and trusted professional.

Posted by Jolynne Photography, Creative Wedding Photography, Family Portraits, Bar Mitzvahs, Bat Mitzvahs, Senior Pictures, Event Photography (Jolynne Photography) almost 11 years ago

Location, location, location...we rented our first house...it was on a busy street...not a great place for little ones.  I was always pretty conscious of location since, and even more so since I've been in RE.  I've warned buyers to be careful along these lines...I had buyers who bought new...the salesperson in the office was trying to convince them to buy a 'standing-inventory' that backed to a busy street...I kept telling my buyers not to, all the while getting nasty stares and facials expressions from the development's salesperson.  Buyers opted to take my opinion...and thank me to this day for it!

Posted by Mary Warren almost 11 years ago

Joey, your baby's wagon as a couch, that doesn't sound very comfortable. 

You are right our buying and selling of houses and the mistakes we made along the way has come in quite handy as a Realtor. 

I have also enjoyed getting to know you and look at you as a trusted professional.

Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago
Mary, isn't it amazing the things we did when we were young and dumb.  Good for you in telling your clients not to buy backing to the road and good for them that they listened to you. 
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago
Marchel, I loved your story!  We do some crazy things when young.  I have sold a couple homes to people that back up to a street, and would mention it several times to them...Later one I relisted.  It is about all we can do.  I wish we could say, "Do not buy this house!"  lol 
Posted by Candy Henthorne, Spring Texas Real Estate (Results Realty) almost 11 years ago
Marchel, Oh how true.  Your story does have a humorous tone, but it is a lesson you learned that, over the years, has enabled you to better serve your clients.  We have been fortunate in that we have generally purchased existing homes in fully developed neighborhoods, Karen
Posted by Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS" (RE/MAX Executives) almost 11 years ago
Karen, I'm hopeful that my clients will learn from my mistakes.  Not all listen, especially to that backing up to the road, but most have.  I drive by a strip center that went in recently and I can't tell you how often I think thank God my clients listened to me.  It was a beautiful treed area which has now been clear cut and has a strip center.  A home in a fully developed neighborhood that backs to other houses is the way to go.
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago

Hi Marchel,

Experience is Education,  which goes hand in hand in Real Estate.  Your experience will educate many a buyer.

Posted by Patrick Canavan, Orange County Real Estate Voice (Keller Williams Realty) almost 11 years ago
Patrick, you are right experience is education and I learned this lesson the hard way, so hopefully my clients can benefit.
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago
Thank you, Marchel, for your kind mention.  I see you moved around quite a bit.  You do learn a lot when you move so much, but it comes with a price.  There is something good about that sedentary way of life that many people enjoy, and hardly ever move away from their birthplace.  If I had it all to do again, I think I'd travel more, not less.  
Posted by Robert Monk, Florida Real Estate (100% Realty, Inc.) almost 11 years ago
Marchel - You gave compelling reasons why location is so important.  Sometimes I have clients looking at a house next to a vacant lot and factoring the lot  into the decision to buy, I usually tell them if you want it to remain vacant you better buy it because if you don't own it, it is  likely something will be put on it some day.
Posted by Jennifer Fivelsdal, Mid Hudson Valley real estate connection ( JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571) almost 11 years ago
Robert, we learned by our mistakes (LOL).  I think it is called the road of hard knocks.  I have enjoyed moving around the country but must say I have been happy to stay put over the last 10 years.
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago
Jennifer, you give very wise advice about the vacant lot next door.  Here in our land of "NO ZONING" anything could be put up also.
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago

Marchel,

Location is one of the things you cannot change about a home (at least not easily).  We have made some similar mistakes over the years and have learned each time.  If you are new to the area,a good buyers agent can be an invaluable resource to help educate you about the little details. 

Posted by Rita Taylor, Sanford NC Real Estate - Homes for Sale in Sanford North Carolina (None) almost 11 years ago
Rita, you are so right about a good buyer's agent helping to know the quirks of a neighborhood.  That can solve a lot of grief later on.
Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) almost 11 years ago

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