Thursday, April 10, 2014

The Best Home in the Block



When you own a property for sale that is significantly better than the rest of the neighborhood, it requires a special understanding.  While you can upgrade a property that is less than the neighborhood average, a home that stands out requires a different buyer than the rest.

The Detroit News tries to shed some light on this.  My own advice is don't buy this kind of property unless you will accept that it will never sell for what it should.  But if you have such a place, then you should adjust your marketing to reach people who would otherwise be looking in a better neighborhood than yours.

What do Zillow readers say?  Their consensus: don't.

Link:
http://www.detroitnews.com/article/20140331/BIZ03/303310014/0/BIZ03/Selling-nicest-home-block-may-require-varying-pitch

http://www.zillow.com/advice-thread/Why-is-it-bad-to-own-the-most-expensive-house-in-the-neighborhood/307649/