Author Topic: [IHB] The market value of Irvine home features  (Read 2506 times)

Offline irvinehomeowner

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[IHB] The market value of Irvine home features
« on: July 13, 2011, 08:11:33 AM »
Great data analysis post on the IHB again today:

It measures the premiums based on certain features if added to a home:

Notice which one has the highest percentage value add. That's right... 3-car garages.

Quote from: IHB
A three car garage adds 5.3% to the value of a property, relative to having the baseline 2-car garage.  One can debate the impact of a 3-car garage on the aesthetics of a SFR, but it’s beyond question that the market value of a home is increased with such an attribute.  As an aside, the standard error of that particular measure is just 0.3% -- meaning that it’s very probable that the 5.3% estimate is close to the true incremental value of the 3-car garage.

Too bad TIC doesn't understand that. None of the new homes since the 2010 New Home Collection have had a 3-car garage.
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
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