Profile picture for mia76

How can I sell my home in a bad location?

No one will buy our home.We have a nice starter,but have apartments across the street from us. The street looks bad with the tenants cars parked everywhere.
We live in a safe upscale suburb,but that is not enough. We can't change the location,so what do we do. We are simply trying to break even to get out.
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October 23 2009 - West Linn
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Answers (8)

Best Answer
Address condition and presentation.  But, carefully to avoid spending money you will probably not get back.  On the science and art of staging on my website I offer a lot of advice about offering a house for sale.  Including ways to showcase a location - spotlight the positives buyers might miss.

Actually, in your circumstances, I would seek out established & successful RE agent/s and look into alternate zoning.  Depending on location, your house might be more salable as something other than residental.

Look at your situation very carefully.  Breaking even may take a long time given the economy.  Good luck.
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October 24 2009
Price it accordingly.

If the apartments were there when you purchased, then you know you bought it at a discount from a house in a solely residential area. So, now it's time to offer that discount to the buying public.

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December 16 2009
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Another thing to consider is how you, or your agent, can fix or spin those negatives to make buyers realize that they aren't as negative as you might think.  For example:

--you said street parking is an issue.  do you have a garage or driveway?  if so, play that feature up so buyers will realize that they don't have to fight for spots on the street

--is the view across the street less than ideal?  Consider planting some trees/shrubs to screen the view and improve privacy, or install decorative fencing/landscaping near the front of the property to draw attention away from the apartments beyond your property line.

--do the apartments have a bus stop nearby? (most do).  If so, advertise that as a positive that you're within steps of public transportation.

You can turn almost any negative into a positive, or at least neutralize it, with a little work and creativity.
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December 15 2009
Don't believe the hype about location, location, location! Location is part of the equation. What you primarily need to focus on is staging and presentation. Feel free to contact me through my link to discuss this further and good luck.
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December 15 2009
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Thanks for all of your input. Just to give you all a little more info. We've owned our home for 6 years and owe 167k. 
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October 24 2009
I agree with Jkonstant.  The issue isn't that anyone won't buy your home. They won't buy your home at the price you want.  It is very possible that the price you want to break even isn't the price that buyers are willing to pay.
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October 24 2009
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Think of what attracted to you to the house in the first place and emphasize those features.   If you are attempting to break even and purchased in the last few years, you may not be able to even if the apartments etc were not in the neighborhood.

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October 24 2009
Without knowing true value, actual location and what you owe, there is no way for the typical Zillow member to know whether you have a realistic chance to break even given the location deficiency. You should contact several real estate agents and have a frank discussion with them about it. They should be able to offer advice so you can be better prepared. Bad homes in bad locations and dangerous ghettos sell all the time. A good home in a nice nighborhood but bad location will too. For how much is another issue.
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October 24 2009
 
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