NUMBERS COUNT AND CAN COST

NUMBERS COUNT AND CAN COST

Many buildings do not have a 13^th floor. It is twelve and then fourteen. Where did that “unlucky” 13^th floor go?  In Nevada the number “7” is very popular in residential  real estate listings. When my wife and I visited Shanghai, our hotel, the Meridien, did not have a 4^th or 13^th floor. Try to find a number “13” in an Arcadia street address.

In real estate superstition can play a large and costly role. Number “considerations” are very strong in high demand Asian neighborhoods.  Eight is a very popular number because its Chinese pronunciation is very similar to the word that means “wealth” and “prosperity”. The Chinese word for “death” sounds similar to the word for “four”. Consequently, the “eight” shows up in many Asian neighborhood property listing prices. The number “four” is avoided in listings.

More importantly, street address numbers can significantly affect property marketability and values/prices. In an address “4’s” are a negative and “8’s” are “good”. Addresses ending in “44” are really “bad”.

Brent Chang, a successful real estate agent in Coldwell Banker’s San Marino office was reported by the Wall Street Journal to have stated about 85% of his Asian clients use numerology when buying or selling.

On my street block in SW Arcadia, four homes which were subsequently torn down (to accommodate new construction) were purchased between July 2011 and March 2012. All of the lots were rectangular in shape and contained 16,909 to 19,451 sq. ft. All of the properties were within 200 feet of each other. The three lots with no numerology issues (street address nos. 21, 37, & 52 sold for $66.83 to $89.25 per lot square foot. It does not appear to be chance the fourth property with a “44” street address  number sold for $60.48 per lot square foot, a $100,000 plus reduced price/discount.  Prior to the sale, the seller of the “44’ property, a long time Arcadia resident and retired nurse requested the City to allow an address change. The request was rejected by City Council and this policy is still in effect. It could be argued an address change from “44”” to “50” would have added tens of thousands of dollars to the selling price.

The cities of Sierra Madre, Pasadena, Azusa, Bradbury, Duarte, Alhambra, Temple City, Monterey Park and Rosemead permit address number changes. The process usually involves a completion of a request application, field inspection to confirm the requested number change is in sequence and after approval  notification of change to approx.. 13 city or county agencies/departments. Fees charged to cover the cost of processing ranged from $106 to $806, depending on the city. None of the cities voiced “problems” with the process.

In Arcadia, there are 350 homes with address numbers ending in “4”. Of those 350, 110 homes have addresses ending in “44”. When the owners of these homes decide to sell, they will be subject to a numerology discount costing them tens of thousands of dollars. I think it is time for the City of Arcadia to entertain and permit address number change requests. Costs incurred during the process can be offset by fees charged which the homeowners would enthusiastically pay.

The home directly across the street from our home has an “88”” address.  When the property sold in 2000, the new owner requested the address be changed  from “84” to lucky “88”. At that time the City of Arcadia approved the request. Over the years I kind of believe our family has received good fortune by being so close to lucky “88”.