Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We dealt with this twice--once in Tampa and once in Cary. We priced our house better than our neighbors and made sure it showed well and were able to sell in two months in markets with 8+ months of inventory. If you want to sell now, I wouldn't let what the neighbors are doing affect my decision because who knows if if/when they sell another neighbor might put their house on the market.
Where we transplanted from we had our house for sale for a bit and then our neighbor put theirs on the market two houses away. We sold our house first and they sold theirs a few days later. Our buyer put down 60% theirs was financed 100% and they had to help out. The irony was their agent was the buyers agent for our house. Guess he showed them theirs and they liked our better. They were none to happy. Their agent was from a different company and since the market had started to slow down would probably had never shown ours if it hadn't been for our neighbor. In this case the two on the market side by side sold our house. Oh yeah we got a lot more from our buyer also, theirs took a long time to settle as their buyer had financing issues.
We dealt with this twice--once in Tampa and once in Cary. We priced our house better than our neighbors and made sure it showed well and were able to sell in two months in markets with 8+ months of inventory. If you want to sell now, I wouldn't let what the neighbors are doing affect my decision because who knows if if/when they sell another neighbor might put their house on the market.
If you need or want to put your house on the market do so. Have your Realtor show you your neighbors house. Price and stage your home attractively compared to your neighbors. You have the advantage now to make your home stand apart unless it is a neighborhood w/ different styles, sizes etc then it may just come down to a matter of needs and personal taste.
If you need or want to put your house on the market do so. Have your Realtor show you your neighbors house. Price and stage your home attractively compared to your neighbors. You have the advantage now to make your home stand apart unless it is a neighborhood w/ different styles, sizes etc then it may just come down to a matter of needs and personal taste.
Exactly. I never felt like it was a negative because I always felt like ours looked better/was priced better so seeing the neighbors' house did nothing but help us.
In the Summer of 2007 our house was one of FOUR homes for sale at the same time on the same street with the same floorplan.
3 of the 4 sold within about 100 days of listing.
One of those four homes is STILL vacant and unsold TODAY.
You read that right. The home went on the market for the first time in January 2007. Still not sold. Listing agents have come and gone. The first asking price was $104,000 higher than the last asking price but still $17,500 above what I sold my house for (at a SUBSTANTIAL profit). The only difference in the two homes was their finished attic with bath. I would say their lot is better than mine was.
The one that has STILL not sold has the least curb appeal and was priced the highest of the four at the outset. I don't know if the owner got bad advice or was just in a coma.
If you are in a situation like that you need to do two things. The first is to make darn well sure that your home shows as well as it can-no apologies. Paint, fix, clean, rake, trim, wash, do it ALL. You NEED to.
The second is to not "take a shot" with price. If you want to sell it, then price it like you want to sell it. That doesn't mean you have to be cheaper than the competition, but if you choose not to be you had better have concrete reasons to ask more.
Don't let the neighbor's listing stop you from putting your house on the market. Make sure your home is priced competitively and shows exceptionally well. If the homes are similar, buyers will compare the two, so do what it takes to make yours stick out. You'll likely benefit from increased showing traffic.
Don't let the neighbor's listing stop you from putting your house on the market. Make sure your home is priced competitively and shows exceptionally well. If the homes are similar, buyers will compare the two, so do what it takes to make yours stick out. You'll likely benefit from increased showing traffic.
Listen to Sandy. She has it right.
Frankpc's car lot analogy is also excellent.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
