[mjjudd]

Back story - As with other subdivisions in the area I would guess, the house I bought was in a partially-completed area. My subdivision was about 3/4 built with 20-30 empty lots when the market crashed and construction stopped. House is about 8 years old and have a bit of equity in it and really is too much house for me so was debating on selling in the next year or two.

Question is would I get more if I sold before the new houses are put on the market or would it be better to wait until after construction or does it even matter that much? My fear is when they put the new houses on the market, whatever price they offer them for will dictate how much I will be able to get more so than comps for houses similar to mine in the area (ie. if area comps are $250k and the new houses are selling for $280k-300k I would think buyers would lean towards just spending the extra money for new rather than used).

My house is situated close to the vacant lots (about 2 houses away), so for 'curb appeal' I would guess new construction is better than the kind of riff raff (drug deals, etc) that current patrons are using those areas for on occasion. Construction literally just started (all they have are electrical junction boxes right now), not sure how long it take to go from dirt lot to on the market. Time frame I was thinking of selling was around middle of next year, so may be a mute point if they get built and sold before then but was just curious if it would affect the resale value much. Another option I suppose could be wait until all the new construction is sold and then sell, but not sure how long that will take plus not sure how much a factor house age comes into play, was thinking selling a house 10 yrs old or less is more appealing than a 10+ yr old house.

Any input/ideas would be appreciated, thanks!

[Hotfeet]

I would lean toward putting your home on the market now instead of waiting. Someone may come along that can't wait, or doesn't want to wait until the new homes next to you are finished. Once those new homes are ready to occupy, you will face more competition than you would face now.

[OmegaSupreme]

the question you need to ask yourself is "what price will I be happy with?"

if that price is around current comps, then go ahead and sell

i personally would not want to move to an area where it looks like a partial ghost town and i'm sure there are many buyers that feel the same. also if there's construction noise, that's another turn off. so with that in mind, you could wait