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Increasing Property Values |
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I live in the metro Atlanta area (Stone Mountain) and have recently prepared my home to sell. I know the area, the comps, etc. One new hitch, a new development is now being added between the two entrances of my subdivision joining their new street to our existing neighborhood streets giving us a third entrance. There will be 8 new houses with a price range of over $200,000 more then any house in this area.
The street has been added, the lots are prepared for building. It seems to me that this might increase my property value. Due to this and the current seller’s market situation, would it be in my best interest to wait a year or so to sell?
Thank you,
Terri
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Terri, I don't know your market. What you say is true -- it's possible that more expensive houses in the area will raise the value of yours a bit. On the other hand, by then people who want to live in your neighborhood will have more new houses to choose from. If you sell today, you won't have the competition and it may be easier to find a buyer than it would be later. |
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Edith
Originally published on September 30, 2007 |
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