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Old 10-02-2007, 06:08 AM
 
48 posts, read 156,296 times
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I have a condo that backs up to a major highway. One of the nicest units, we have a sitting room and an extra 1/2 bath. We are trying to determine what price we should be at due to the highway. Any ideas on how to do that?
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Old 10-02-2007, 07:00 AM
 
582 posts, read 1,921,081 times
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You need to talk to an agent and have them do a comparitive market analysis. That way you can see what the different units are selling for. Then you can get in touch with an appraisal company and ask them how much they mark a house up with an extra half bath and how much they would mark it down due to the highway being there. That should give you a starting point. Due to the fact that you are right by the highway if you want to sell you will need to price aggressively. Even though it's got a nicer floor plan and the extra half bath, people might still go for the ones that aren't as nice without the highway view... so you need to make them realize they can't pass up your house. Good Luck!
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Old 10-02-2007, 07:04 AM
 
48 posts, read 156,296 times
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thank you. I thought we would need to be aggressive and it looks like you think so also. We may pull a Crazy Eddie.... Are there still people out there buying?
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Old 10-02-2007, 07:31 AM
 
Location: Virginia Beach, VA
2,124 posts, read 8,380,099 times
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Yes there are folks out there buying, but they are Crazy, too!! They want your home in pristine condition (get a pre-listing inspection), and priced great as well.

Shelly
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Old 10-02-2007, 07:43 AM
 
48 posts, read 156,296 times
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we are ready to lower it all the way down to what we want. Should we do this or give ourselves a little negotiating room still. I want a quick painless sale. The ifference would be $5,000 dollars. We are currently at $195 and are considering $184 or $179,400. not sure what to do. Comps in the area are at $186-$189
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Old 10-02-2007, 08:01 AM
 
33,206 posts, read 52,512,898 times
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I think a lot would have to do with sound intrusion into the condo--looking at something like that is not very attractive but having the sounds from it come into the condo would probably be a deal breaker for most people
what is traffic access like--do you immediately enter the highway when you leave your condo?
Do you have to keep those window covering open to the view in order to have adequate light? that would be a negative on the showing...
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Old 10-02-2007, 08:07 AM
 
Location: Grand Rapids Metro
8,885 posts, read 18,494,984 times
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Quote:
Originally Posted by suemaz12 View Post
we are ready to lower it all the way down to what we want. Should we do this or give ourselves a little negotiating room still. I want a quick painless sale. The ifference would be $5,000 dollars. We are currently at $195 and are considering $184 or $179,400. not sure what to do. Comps in the area are at $186-$189
Much of it depends on local conditions in your area. I don't think anyone here can give you a fair assessment of where you should be priced. Find a good realtor in your area, or you will end up losing much more than $5000, IMO.
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Old 10-02-2007, 08:53 AM
 
109 posts, read 369,546 times
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Magellan is absolutely right.
Having a highway behind you in some cities would be considered the
norm or no big deal. In other places it could be a deal breaker or cause
for price reduction. A good real estate professional will factor in all
of the details when doing a market analysis.
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Old 10-02-2007, 12:02 PM
 
48 posts, read 156,296 times
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You can hear the traffic slightly. We don't have the sound protector shades or anything like that. there is a diner between us and the highway too. If we run a fan you upstairs you can barely hear the traffic. it doesn't keep you up at night or anything like that and i have never been woken up by it. Access to the highway is about 1 mile away. we kind of back up to it. we can open the front door and you don't hear it at all. we just happen to back up to it and we have 2 balconies that back up to it. Who would have thought that years ago when we bought it that everyone would move to PA and travel on this road??? i guess we didn't think we would be here so long:}
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Old 10-02-2007, 06:12 PM
 
Location: NJ
17,960 posts, read 26,210,804 times
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Quote:
Originally Posted by suemaz12 View Post
we are ready to lower it all the way down to what we want. Should we do this or give ourselves a little negotiating room still. I want a quick painless sale. The ifference would be $5,000 dollars. We are currently at $195 and are considering $184 or $179,400. not sure what to do. Comps in the area are at $186-$189
Looking at remax, pricing is $150k, $175k, $200K - unless you can drop to the $175K, I would consider $184.

If you give your zip and the bedroom / bath info, we can look up your competition to get an idea of how people are searching up your way.
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