Quote:
Originally Posted by djmk
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if anyone has a choice between living on a busy street and not, the busy street will lose. the market should reflect this. I dare you do to the same test for 1st Ave in Vancouver
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Yes because living on E1st avenue will make your house worth way less than say 4th or 7th...
E1st Avenue @ ~Renfrew, approx. $340 per square foot
E4th Avenue @ ~Renfrew, approx. $352 per square foot
E7th Avenue @ ~Renfrew, approx. $346 per square foot
Best I could do going through some properties up for sale right now. Don't have the time to actually pull up assessed values. So with the above using 1000 square foot and 2000 we get:
1st @ 1000 = 340,000 \ @ 2000 = 680,000
4th @ 1000 = 352,000 \ @ 2000 = 708,000
7th @ 1000 = 346,000 \ @ 2000 = 692,000
Keep in mind a few of the 4th ave places were right next to a park. The 1st avenue places are all just that, on 1st avenue. No park, no nothing. So you'd expect just knowing that, that the prices would be less. So is the price difference the busy street? Or the park? And my point against Mr. 84th Avenue is that he and people I listen to constantly complain that widening the road will MAKE A MAJOR HUGE MASSIVE MONSTER DENT OF DOOM in their property values. Since you missed the quote evidently I was debating against:
Quote:
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This road would put a huge dent into our rising property values.
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If that were the case, in the above we should see:
1st Avenue @ 2000 square feet, $350,000
4th Avenue @ 2000 square feet, $750,000
That's the sky is falling attitude people used to block 84th Avenue. The truth is, would it decrease values? No. It wouldn't. Anyone with half a brain would know that. The question is, would their values increase SLOWER than if there was no road? The answer to that would be... doubtful. Why doubtful? Because roads in general don't have as much of an impact than people seem to think but you can't say yes or no with certainty because there are "so many other factors" that create a final property value. Someone can say the road would put a
huge dent in property values just as much as I can say flying to the moon would take money away from curing cancer.
I enjoy living on a busy street. Why? Easier to get around, easier to get to a bus, usually you're closer to ammenities, etc. If I had 5 kids that wanted to play street hockey, then I'd probably not want to live on a busy street. Has nothing to do with price, but has to do with life style. So when people argue against progress saying it is because of an impact on their property values like it's some bullet proof response of principle and social morality, I cringe because the truth is they are just NIMBYing it up. I applaud someone that stands up and says "I just don't want my neighborhood to change." because that person is being honest.
Mr. 84th Avenue is being dishonest was my point. And anyone that says a busy street affects housing prices hugely is making an idiotic statement quite frankly. There are SO many factors that affect housing prices that you can't pin everything on the road. Heck there are houses on River Road which is travelled by huge big rigs all day long in Surrey and Delta that are worth a pile more than houses in the same neighborhood on quiet streets a few blocks away. So if I just looked at them I'd have to conclude big noisy polluted congested roadways = higher housing prices.
But I don't why? Because I know roads aren't the only factor. I want more people in this world that just say "I grew up in this neighborhood and want it to stay the way it is!" rather than make things up. It would still be an idiotic statement in my opinion but at least it would be an honest one I can actually respect.
Case and point, my place is assessed at $300,000 roughly. It is located on Fraser Highway next to a busy mall. Both the main street (Fraser Highway) and cross street would be classified as 'busy'. Now when I look at properties in my neighborhood on quieter streets like say 159th Street, or even 83rd Avenue, for the same size, they are assessed roughly the same. I looked at a townhouse on 159th that is 1700 square feet, it's assessed at $336,000 approx. If I take my square footage and assessed value and inflate it to 1700 square feet, I get to around $328,000. So being on 2 massively busy streets across from a busy mall, has apparently decreased my value by $8000. That's pretty major </sarcasm> and clearly the only factor </sarcasm>.
Anyway this debate could go on until we're blue in the face, the truth is I'm not the one that needs proof for my statements above even though I've provided it. The people arguing against 84th Avenue are the ones that need the proof and sadly they have none. NIMBYs never have any proof. That's the problem.
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