Study: Arizona street is one of the most expensive in the nation

For those living outside of Paradise Valley,
Arizona, the street Cameldale Way might not ring a
bell.

A little-known fact about this neighborhood street is
that it has been named one of the most expensive
streets in the nation, according to Zillow.com.

The roadway, ranked No. 11 out of the top 15, has a
median home value of $10.8 million.

What makes an expensive street? Experts said it is all
in the name.

Spencer Rascoff and Stan Humphries, co-authors of
“Zillow Talk: The New Rules of Real Estate,” said named
streets come with a premium. After exploring the data,
they found numbered streets only have the advantage in
three areas around the nation — Atlanta, New York and
Denver.

Suffixes also matter, according to Rascoff and
Humphries. The most common suffixes — street,
boulevard and avenue — are often the least valuable,
while way and place tend to be home to the most
expensive houses.

Other pricey homes to make the list include Indian
Creek Island Road, Florida ($21.5 million), Beverly
Park Circle, California ($16.2 million), Beverly Park
Terrace, California ($15.8 million), Lazy Lane
Boulevard, Texas ($15.4 million) and Conyers Farm
Drive, Connecticut.