Friday, January 15, 2010

The Alley Influence

Minor but still has an affect on appeal & marketability

Here is a nice little split level located in Chicago's Forest Glen neighborhood.

From this MLS photo I did not see any external obsolescence. It was an active listing and I wanted to take a look at it. When I got there I found that it suffered from a minor form of external obsolescence known as "the alley influence"

As can be seen from my photograph this property sides on an alley. A little fact that the MLS photo left out, or tried to hide.

With a location like this there is increased traffic and the home is not as nice as it would be with a location in the middle of the block with no alley. Its minor, no real big deal, but this property is still for sale after 179 days on the market. Right now buyers have a lot of inventory to choose from and even minor obsolescence is given a hard look.

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