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Old 06-25-2007, 02:22 PM
 
3 posts, read 6,544 times
Reputation: 13

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I'm really confused about whether or not to sell my home. It's a beautiful home. 4 bedroom, 1.5 bath Colonial -made by hand with so much character and charm - (can't find a lot of that today). It needs a little cosmetic work like paint and a nice interior designer. I would LOVE to move into this home myself and work it into a dream home but I would want to make the unneccesary personal touches that don't necessarily return in value. I've been renting it out since I purchased it (in hopes of later moving in). Now that the time is here to move in. i am very perplexed about the location. It is located not in but near downtown.

Since I don't actually live in this neighborhood I'm afraid that downtown (despite that homes are cleaning up and businesses are moving in) is still getting a bad rap. Is this true? And do you think that with the crazy re-vitalization of Derby and re-development of Bridgeport Avenue that the values will go up again in the area?

I assumed my house would be worth 375- 395k based on comp sales and sqft. but I'm willing to lower my price significantly and sell if the market stays low. Or rent to a nice family. I grew up in this neighborhood and 20 years later- I'm wondering what the existing residents and newcomers' impressions are of this area.

Does anyone have any opinion on this?
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Old 06-25-2007, 02:39 PM
 
Location: Connecticut
34,937 posts, read 56,945,109 times
Reputation: 11228
It takes many years for people's perception of an area to change. Shelton has been on the rise for a long time and downtown really is just starting to improve. You do not say how long you would want to live there but if you are willing to stick it out for several years and really love the house, why not move in. You sound like you would be a welcome addition to the area.

As for Derby, I think they made a big mistake knocking down half of its historic downtown. That type of redevelopment went out in the 60's thankfully and the value of old beautiful buildings are being recognized everywhere (just look at downtown Bridgeport). We will see if the Mayor's pie-in-the-sky plans work or not, but they do have a good developer on board. JMHO Jay
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