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09-23-2010, 03:17 AM #1
Renter
- Join Date
- Sep 2010
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- 1
Schools and Pricing
It's possible I have to move in 6 mos and would like some input. I live in suburban Nashville. We have a growing neighborhood with 2 pools, common areas, shopping and residents club. 850 homes in there now, projected at one time to be 2500. They are still building and selling, just a bit slower than before. It's very family oriented. There is a very good private school about 4 miles away.
Our county schools are generally very good but this year are being rezoned. It negatively impacts 3 neighborhoods, ours and two others. The two others are built out and only one has common amenities (a pool and a lake/pond). We are being moved from a great high school 4 mi away to a really good high school 11.5 mi (roads can get pretty congested) away. We are being moved from an excellent middle school to a k-8 that the county seems to have forgotten. We hope we can help turn around that school but it'll never have the offerings of a traditional middle school.
The other two neighborhoods stay at the same high school, which is our future one and get moved from the k-8 to a better middle school 13 miles away. The new schools are in the opposite direction of Nashville. They have new development around them and the commute is about 15-20 min longer into nashville than ours. Their develoment slowed a bit b/c of GM and some builders went under. There isn't any new development around our current schools except in our neighborhood. New buyers would buy existing homes.
Any way to give a ballpark figure as to how big a hit this is on our home prices?
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Are you asking how your schools' rezoning may effect your listing price?
There's no real answer because "negatively" is subjective. If you see a mass
exodus then your taxes will skyrocket and that will effect the value of your home
and subsequently your listing price. If you don't see a mass exodus, wait a year.
Wait for things to get into the fold then ask a local Realtor for a Statistical
Comparitive Market Analysis. This will show you what people are paying for
total finished square feet.
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Market analysis
The only way to see how it will impact the value of your home is to do a market analysis over time to watch what it does to the value of homes selling before and after the change. No one can really say how the future value will be effected for sure.
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