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Answers (3)
- Mack McCoy
- Contributions:1111
You know, I don't have a problem with people buying the most expensive home on the block or in the neighborhood - it's a trade-off; you get more home in a (no offense) less "popular" neighborhood.
So the thing you have to look at is how much of an incentive there is for someone to buy a home in your neighborhood than in a higher-valued one. Basically, the same decision tree you used - you could have bought in another neighborhood, but you bought here. You've done a good job in describing the features and benefits, now - why should they spend their money on your house rather than on a block where the house wouldn't stand out so much?
So the thing you have to look at is how much of an incentive there is for someone to buy a home in your neighborhood than in a higher-valued one. Basically, the same decision tree you used - you could have bought in another neighborhood, but you bought here. You've done a good job in describing the features and benefits, now - why should they spend their money on your house rather than on a block where the house wouldn't stand out so much?
Address is on zillow with pictures. [address removed for owner privacy]
We are located in the foothills, not in the city of Oakridge.
We are county, not city. We back to forest land that will never be developed.
We are rural. Have almost 2 acres. We did some upgrades and made sure not to over do anything. We gated, and paved the driveways and fenced all around the property.
There are new homes being built in the area, and there are the older homes that have been here like our home. There is a newer development that went in just before the housing market dropped. Lots are selling, however slowly. They are buying the lots and building their new homes on them. Retired people coming here from Calfornia and other areas. Big biking and fishing mecca. Beautiful views, and a golf course. We are across the way. The golf course is our front view along with the mountain ranges. The developement across the way is to the far left of us across the road. They are lots that people buy and build on. We have acreage.
Some of the older homes in the area have been upgraded, and some have not.
There are also two properties on this road with a house and a double wide on the same property. Some people have pools.
People move here due to the location. Beautiful mountains, rivers, lakes. A lot of recreation here. Some properties have horses. This is also a wild life area.
This area is beautiful. Great place to live for privacy, yet close to Eugene Or, the coast, and mountains when you want to venture.
- SoCal_Engr
- Contributions:5661
It will be interesting to hear what the RE pros have to say.
The common advice I have always heard is "never buy the most expensive house on the block". Why? Because the value can only be pulled down by those around it.
The other cautionary advice has been "be careful not to overbuild" when doing remodels (or, don't improve your house so much that the neighborhood can't support the price needed to get out without a loss).
If the above advice is correct (and I see no reason to believe it isn't), then you may be waiting for that-one-special-buyer, or you may be in for some disappointment when it comes to an actual sales price.
Just curious. Why is your house worth "much more" than the nearby homes, and can you quantify "much more"? 25%? 50%? 100%?
Cheers, and good luck.
The common advice I have always heard is "never buy the most expensive house on the block". Why? Because the value can only be pulled down by those around it.
The other cautionary advice has been "be careful not to overbuild" when doing remodels (or, don't improve your house so much that the neighborhood can't support the price needed to get out without a loss).
If the above advice is correct (and I see no reason to believe it isn't), then you may be waiting for that-one-special-buyer, or you may be in for some disappointment when it comes to an actual sales price.
Just curious. Why is your house worth "much more" than the nearby homes, and can you quantify "much more"? 25%? 50%? 100%?
Cheers, and good luck.
What do you recommend about selling a home that is worth much more than what the nearby homes are s
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