If you're selling your home, you might get more than the median price if your address has a tree in the name.
According to Trulia.com, five percent of current listings in 100 metro areas have streets named for varieties of trees. And those homes list for slightly more money than homes on other streets.
The reasons vary, according to Jed Kolko, chief economist and vice president of analytics at Trulia. Oftentimes streets bearing the name of a tree are tree-lined now, were tree-lined in the past, or are new and will have trees lining it in the future.
The other reason for the bump in price on homes with tree addresses is because it takes a larger lot to hold a tree than other, smaller house lots.
The tree specimen commanding the highest median list price in the markets studied by Trulia is Oak, with a median list price of $187,000. That is followed by Pine, Maple and Cedar.
In Hyannis, Massachusetts on Cape Cod, just south of the famous airport rotary is a tidy neighborhood with several varieties of trees for street names: walnut, spruce, mulberry, maple, linden, elm, chestnut, oak, locust and birch. Other Cape Cod towns are populated with Oak Street as well.
Trulia found the greatest concentration of streets with tree names in Florida with Orlando and Tampa-St. Petersburg owning the top two spots. Those were followed by Memphis, Tennessee.
The Urban Tree Foundation lists the most popular tree specimens for planting.
When planting trees --on streets of any name, keep in mind the root spread near sidewalks and driveways and the height of the tree when fully grown. If the tree interferes with power lines, utility crews will do a number on the tree to keep the lines cleared.
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