Do You Know How Vacancy Rates Effect Home Values In Bothell, Mill Creek, & Woodinville?

Do you know: "The effect of vacancies on nearby home prices is strong: one academic study estimates that a vacant home can lower the price of nearby homes within 500 feet by as little as 0.7% and as much as 10% — depending on whether the vacant home is a foreclosure or just neglected."  Jovan Hackley for Trulia

Bothell has a home vacancy rate of approximately .032%  based on demographics from National Relocation

Mill Creek has a vacancy rate of approximately .029%, again based on demographics from National Relocation

Woodinville has a vacancy rate of approximately .023% National Relocation

These rates are very favorable on the effect they have on home prices in our area..

As a homeowner if you do have a vacant home near your home it would behoove you and your neighbors to do what you can maintain the exterior in terms of keeping it clean and neat to maintain your own home values.  Having said that-  There is a risk of liability for doing any remodeling, repairs or re-landscaping on a property that doesn't belong to you.  The idea is to maintain the front of the property, ie, removing debris such as leaves, and weeds, mowing if necessary. When in doubt try to reach out to the current owner.  If you have a problem reaching them contact me, I may be able to help.