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Why is it priced higher than the others in the neighborhood? How long are you planning on living there? Is the neighborhood in transition?Personally, I renovated a 2 bed cape into a 5 bed colonial 2006. This resulted in definitely having the biggest, newest house on the block. I knew this is a real estate no no but I had lived in this neighborhood for years and wanted to raise our kids there. I just recently sold it for about what it was worth as a 2 bed cape before the renovation, with the price hit being a direct result of the market. We had a ton of showings and a lot of positive feedback about the house but it was obvious that it was not in line with the neighborhood and many potential buyers passed for that reason.If I hadn't been forced to sell, I wouldn't have cared. But that wasn't the case. Of course, if it had been in a neighborhood more in line with the house, we would have been able to expect significantly more for it.For investment purposes, RE's not so great right now and may not be for many years but if recouping your money somewhere down the line is important to you, unless the neighborhood is improving and on the upswing, I would say to keep looking.If this house rings all your bells and you can easily afford it and know that you will be happy in this location for years to come, it may be worth going for. I would definitely pinpoint why the house is priced so high compared to others and maybe talk to some neighbors to find out if this is really the place for you to live.
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For Sale: $574,500
For Sale: $264,900
For Sale: $18,900