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Why Did My Neighbors Low Sale Price Affect The Value Of My Home?

By March 12, 2012 February 2nd, 2020 2 Comments

Has this ever happened to you?

2 Comments

  • Ivonne says:

    Note Remarks: BEAUTIFUL HARDWOOD FLOORS, CATHEDRAL CEILINGS, GRANITE COUNTER TOPS, TILED BATHS, JACUZI, IMPRESSIVE MAHOGANY FRONT PORCH, LARGE SLATE PATIO, PAVER DRIVEWAY, 30 MIN. TO NYC. “NEXT TO MILLION PLUS HOME ” . I guess that alone made it worth 995K! Anyone who knows this town knows that million plus homes can aften be found next to capes and emsllar colonials. And the lot isn’t that big that a larger house would be appropriate. in fact, that house is about perfect for the lot.The taxes are also in line with a 400-450K house in Livingston, so money must have gone into upgrades fairly recently. Any buyer should note that a reassesment is coming soon and the taxes on that house will increase substantially!

    • jrichter says:

      Very true Ivonne. Of course condition does add value to your house but, I think $500,000 might be a little difficult to justify! The appraiser may have a difficult time finding comparable properties.

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