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Real Estate Appraisers: Age and makeup of your neighborhood can determine home value loss!

http://www.realestateappraisertips.info/ – Real Estate Appraisers: Age and makeup of your neighborhood can determine home value loss!

staff photo by kathy moore

This home at 10305 Welbeck Court. In Westchase, some home values have dropped a little – and some a lot.

Shannon Behnken, with the Tampa Tribune, discusses how “Age and makeup of your neighborhood can determine home value loss”. The article is located here. Here’s a snippet:

Data show that home values can vary widely, depending on the neighborhood, the age of the home and the economic stability of neighbors.

No Tampa Bay area neighborhood is immune to this housing downturn, but some neighborhoods are suffering more, housing professionals say.

“In general, areas that had minimal decreases have been around for some time and were not as susceptible to investors,” said David Teacher, a property appraiser with Superior Residential Appraisal Services Inc.

Even in those neighborhoods, however, there are exceptions.”

REAL ESTATE APPRAISERS…..WHAT’S YOUR EXPERIENCE WITH THIS ISSUE?

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