The Real Estate Value of Trees
We once had to do a lot of talking to convince a client that he didn’t want to chop down a healthy live oak that was just beginning to develop the kind of dramatic architecture that can’t be purchased with anything other than time. Since then, I’ve been wanting a dollar value for what a tree can add to a property, a number that’s easily cited and perhaps easily dismissed, but undeniably monetary and specific. A number like $8,870, the number that a recent study came up with after looking at how the presence or absence of street trees affected the sale prices for homes sold in east Portland during 2006-7. (The houses with trees also sold an average of 1.7 days quicker.) It’s obviously one of those statistics which can’t be applied too literally, but the researchers seem to have made an effort to account for some of the other variables that might surround the real estate sales. And though it is somewhat mercenary and doesn’t account for the many environmental and aesthetic benefits of trees and there probably isn’t a direct causal relationship, it might help people appreciate their trees more. What homeowner could hear that stat and not go right out to get a street tree? Personally, I’m sure I’ll cite the number at some point in the future, possibly to our landlord who knows that Anita and I are responsible for adding six street trees to our block. Shouldn’t that get us $53,220 credit towards our rent?
In a somewhat related note, I’ve always liked this planting of birches in my neighborhood and this post seems like the most reasonable time to mention it. The planting has an impressive total of 22 birches, which is 19 more than anyone else ever has. I’m pretty sure the birches count as ‘good overall tree cover,’ rather than as individual $8,870 trees, but there’s no question they make the house more valuable and desirable. The trees do the sun-in-winter, shade-in-summer thing for the house, and the planting always looks remarkably good, even when the understory needs maintenance. Designers talk about being bold or committed; 22 birches shows a serious level of commitment. Props to whoever planted them.
And in an unrelated note, the New York Times did a feature on Humphrey Slocombe, the ice cream store I mentioned a couple of posts back. The article’s a little heavy on the ‘wacky San Francisco’ angle, but then the ice cream parlor is actually pretty wacky and it’s hard to imagine it existing somewhere other than San Francisco. As an explanation for the unusual flavors, the proprietor says, “I just got to the point that I felt I’d have to kill myself if I ever made another crème brûlée or warm chocolate cake again.” Haven’t we all.
This entry was posted on Tuesday, July 6th, 2010 at 7:52 am and is filed under plants, richmond, california, trees. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.