If your neighbor is selling off their house in the real estate market, then it might be a good chance for you to see and learn from their experience. While you might not yet be looking to list your house for sale, doing this can serve as a good preparation for when the right time comes.
Determining the saleability of your house in the real estate market depends on a number of factors. As previously discussed here on Realty Today, certain factors such as location and features can definitely affect the house value. Houses listed on the real estate market, which are located near good schools, are often priced higher and are faster to sell in the real estate market.
While you can discuss this, including house value, with your real estate agent, you can get a good idea of the market from your neighbor's home sale. According to Realtor.com, ask for your neighbor's experience during their sale. You can ask for feedback from buyers who attend their open houses in order to find out which features attract buyers and which ones do not.
You may also attend your neighbor's open house (with their permission) in order for you to hear first-hand others' opinions and thoughts. If you hear buyers say they aren't as fond of your neighbor's bathroom and yours the same features as theirs, then it might be a better choice to do some renovations when the time comes for you to sell your house.
Aside from this, you can also find out about the house's stay in the market in order to see if you can quickly and easily sell your home as well. It may also be wise to find out more about the sold price from the agent themselves.
"The closing price info should be verified by either a professional or by public record. Homeowners can sometimes inflate the value when boasting to their neighbors," said real estate agent Bill Golden.
