Definition Of Corner Lot

[Bobby Bucks]

Charlotte let me guess, you appraised Little Jimmy Dickens house??? he could get by with 6' ceilings.

 

[Alison Swain]

Originally posted by Ron Seylhouwer@Oct 17 2005, 05:58 PM
I go along with the street intersection definition. Not any value only twice the traffic noise and twice the snow shuffling in the winter months.

Ron
AppraiserPlus.com

Snow??? What's that?

:rainfro:

 

[icisic7]

Cynthia and TC, I agree! IMHO, I'd never want to live on a corner lot! But then again, if I had my way, I'd be surrounded by national forest with no chance of any neighbors anywhere near (damn barking dogs outside my bedroom window, and free-roaming cats walking on my car and pooping in my flower beds).

 

[Tim The Enchanter]

I'd rather not have the corner lot for the reason mentioned. But others might like it for other reasons mentioned.

I don't want an alley, some of the same reasons. Others might like it because they can use it for RV access.

Sidewalks and street lights. They have their pros and cons too. Anyone adjust for those? Or even worry about it? Hopefully your comps have similar situations at least.

How about 1 story vs 2 or more?

There seems to be enough buyer demand for either one or the other in each example, that it makes no difference to value.

 

[Couch Potato]

Originally posted by Cindy Elam@Oct 18 2005, 10:08 PM
Cynthia and TC, I agree! IMHO, I'd never want to live on a corner lot! But then again, if I had my way, I'd be surrounded by national forest with no chance of any neighbors anywhere near (damn barking dogs outside my bedroom window, and free-roaming cats walking on my car and pooping in my flower beds).

So you would rather hear the wolves howl, the deer eat your garden and the bears walking on your car. :rofl:

 

[Steve Owen]

In spite of the lack of identifiable, measurable value issues in most cases, I've always found this subject interesting. So, for example, assuming you could find a measurable difference, would a corner lot created by a "T" intersection be worth more than a corner lot created by a cross intersection? Same access, fewer traffic problems. When you start asking those questions, you are usually getting down to the individual buyer rather than the market.

In spite of the fact that few appraisers feel there is a difference in value, realtors continue to tout corner lots as being superior. There's an interesting divergence of market perception - those who have to deal with the market as a whole usually see no difference, those who have to deal with individuals do.

One other interesting thing I've noticed. In the Shawnee Mission/Overland Park area of Kansas City, most houses built on corner lots were built at a 45 degree angle. This is in subdivisions built about thirty to forty years ago. Why? When you do that, you obliterate most of the advantages of the corner lot for access from either street, but do nothing to alleviate the problems caused by extra traffic, etc. It's always amazed me - is it a case of dumb-bell builders, or is there something I'm missing.