Noise Data Used In Valuation, Need Opinions Please

[Meandering]

You would still need the correlating data between the noise levels and prices. Just because someone else says so is not good enough, someone else could say differently. Data, data, data

 

[Deleted member 128537]

It's a hard thing to determine. Example: I did an appraisal of a house that backed up to a busy highway. I couldn't believe the noise from the highway when I was there in the backyard. I sure wouldn't like it. But the home's purchase price was a really quite high and in fact I came in under value. This person really liked it and paid a premium. So apparently that person didn't mind the noise. And I really had no data that said it was a problem for people. Maybe because you really couldn't hear the noise in the house, just off the back deck.

On the other hand when I was selling lake front property that was along the highway, you couldn't see the highway, but you could hear the highway in the background. And those homes sold for less. Buyers actually mentioned the noise. That's because when people get out of the city they want to be out of the city (no traffic noise).

So yes and no on road noise. Very market dependent. Depends upon expectations, etc.

As to flight paths, again that depends on how busy he airport is. My son had a home in a flight path and it really wasn't that noticeable in what homes were selling for in the vicinity. But it could be different once the planes get lower to the ground.

 

[Terrel L. Shields]

What if there was data out there that said not only what the local noises are and how loud they are at any given property, but also how those noises affected housing pricing in that area? Is that something you could base as reasoning for your valuation?

You mean compiled data? Sure. But when you only encounter it say, 1 time in a year or maybe only 3 or 4 times, you cannot pay much for it. Easier to "do it yourself". The problem with buying any and all data is that you are broke before you start and until appraisal fees start reaching $1,000 - $1,500 for a dwelling, I don't see many appraisers wanting to buy the data.

Software
Mapping service
Flood service
Neighborhood data
county assessor records data
county deeds and mortgages data
MLS
Environmental data
etc etc.... pretty soon you've ate your entire year's income.

 

[Tom D]

i'll go with the underwriters quote, you better have some comps with the same external influences. works for me, that is when you have those similar comps. might turn it down to avoid not being able to prove the difference. my experience as a real estate broker long ago when i asked the buyer, big urban area, why they were buying a house with a 12 lane highway in front of them. her answer, which i remember to this day " there are no kids playing in the street".

 

[Meandering]

If noise was an issue.

They would not build houses up against highways, railroads and stadiums.

Acceptable by existence.

 

[Tim The Enchanter]

If noise was an issue.

They would not build houses up against highways, railroads and stadiums.

Acceptable by existence.

Noise is an issue I don't want to live with.
But this kind of location beats a cardboard box under a bridge by several miles.

 

[Meandering]

Oh Lee,

I'd bet your cardboard box would be sexy with picture windows and corner spot lights.

,

 

[glenn walker]

Today we have dual pane windows , my father lives near the 210 freeway which is a positive for LA commuters , and there is virtually no noise inside his house , nobody sits in their back yard in LA County thinking about noise , in some markets it may be a factor but in others it's not only a non-event the properties closest to the freeway sell for higher prices because time is money and a 5 minute entry to the freeway versus a 30 minute entry is worth a lot of money and in some cases $200,000 or more. The appraiser really has to know his-her market area , Just like train tracks in LA if you can walk or bike to the metro-rail it's a real positive. Nobody lives in Los Angeles or New York City who is looking for a nice quite Country Life. Speed and access to public transportation is everything because the measurement is how long does it take to get to work . 20 minutes or 2 hours ?