From The ValuVault: Beyond the Zip - Why Prices Differ
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From The ValuVault: Beyond the Zip - Why Prices Differ
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Charlie Johnson explains why two homes just steps apart can have five-figure price gaps—even inside the same area.
– Not just city/ZIP: school district boundaries, traffic/noise exposure, proximity to amenities, lot orientation, and nearby influences (e.g., power corridors, commercial) – Backing a major road vs. a tucked-away interior placement can shift what buyers will pay—convenience, quiet, and aesthetics matter – Parents often value school zones more than city lines – Appraisers convert these differences into value with matched-pair sales, bracketing, and clear market-supported adjustments
📌 Appraisers: Group comps by boundary/exposure/amenity context; support adjustments with paired sales and explain the reconciliation. 📌 Agents/Buyers/Sellers: Comp against truly similar placement and surroundings; disclose exposures and highlight positives (parks, trails, convenient retail).
Bottom line: Beyond the ZIP, surroundings and placement drive price.
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