How a next-door eyesore can hurt your sale

There is a new article on MSN about “Dealing with an eyesore next door“, and it is quite interesting. I have always known that living next door to homes that look bad is not desireable, and can hurt your resale value, but I didn’t realize it could shave 10% off your sales price. It seems that there is a house like that in every neighborhood, the weeds have overtaken the entire yard, the grass hasnt been cut in weeks, or they have 13 lawn ornaments in the yard, “ugly” houses are almost as bad as forclosures in the neighborhood.

So what can you do if you want to sell your house, but your neighbor’s house is ugly? Many neighborhoods now have HOA Boards that may be able to intervene. If your covenents and restrictions cover lawn care and issues of curb appeal, try calling the management company. They will be much more likely to help you if your dues are piad on time and you are friendly about your requests. You may consider asking the neighbor to clean up his act, or offering to help them. You can pretend to assume they haven’t been able to get to it yet because they are too busy, maybe their lawnmower is broken, or they have been ill. Local town or city ordinances may be able to help you too.

Honestly, if your neighbor is not willing to see your side, there may not be much you can do about it. You can’t force someone to care about the appearance of their home. In this case, the only thing to do is make sure your home is priced well, to bring more people to see it. Especially in todays tight Indianapolis real estate market, it is important to price your home as competitively as you can.

A good REALTOR will be honest about the right price for your hoome from the beginning, rather than pricing it higher to begin with and then constantly asking you to lower it as it sits on the market. Some Realtors will give you an inflated listing price just to “buy” your business, and then beg you to lower it while it gets stale on the market. Of course, sometimes even when it is priced right, reductions are necessary, but your Realtor should show you recent sales in your neighborhood and explain how they came to the listing price they suggest. It is very important for you to be realistic about your price, keeping in mind the recent sales and market conditions.


What'cha Say?

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s