thus if the 3xx3 property goes on the market now, it will not command the same price as it did a year ago. 3xx3 is the property with the traffic noise. 6xx7 is selling at a lower price and it doesn’t have the traffic noise. A year ago the market was a lot stronger, the traffic noise issue was most likely ignored, hence the seller got away with the higher price. Would buyers still ignore the traffic noise today and pay that price?
As for the view, here’s the problem with that “premium”. #1, for the noise to be decreased, tall/thick trees would have to be planted on the slope between the rear of the property and Melrose Dr. #2, if there’s noise reducing trees, there goes your 180 degree panoramic view. If there are no trees, the view is saved, but the noise would be deafening.
I don’t think the two properties are apple vs. orange. I think it is more like an apple vs. an apple with a worm.
