Home Buying in 02780>Question Details

Cheryl, Other/Just Looking in 02780

my house is listed residental its going to change to highway business will it be worth more money and ifd so how much?

Asked by Cheryl, 02780 Sun Nov 7, 2010

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Cheryl, I see many answers from all sorts of agents from all sorts of locations throughout the country, myself included. Taunton is typically a tougher market as most of your major retailers are on the Raynham side coming into town. So much has to do with your exact location and the amount of land you have. The commercial market is not hurting right now, there is still very little well located commercial property available for sale. I can give you an experts opinion if you want.

Louis

617-799-3326
Web Reference: http://www.LouisWolfson.com
0 votes Thank Flag Link Mon Nov 8, 2010
That depends on your market and supply/demand in your area. Is the property in good shape? Would it need a tremendous overhaul to turn it from a single family into a business location. The price could go down in the demand is low in your area.
0 votes Thank Flag Link Mon Nov 8, 2010
Cheryl:

Totally depends on your market place. Commercial is hurting right now and it may be devalued. You really need to have a firm understanding of the market you live in. All the best.
Web Reference: http://www.TomandJoanneTeam
0 votes Thank Flag Link Mon Nov 8, 2010
Hi Cheryl,

What is the location? The best way to tell is to do a Comparative Market Analysis both ways. If you email me the location, I would be happy to do that for you. As a side note, be prepared for a tax increase!!!
0 votes Thank Flag Link Sun Nov 7, 2010
Depends on what is around you, the size of your lot and what size building could be built and if there is a demand for that new building. Give me more specifics and I can give you more information.
Web Reference: http://www.louiswolfson.com
0 votes Thank Flag Link Sun Nov 7, 2010
Hi Cheryl,

I had a similar situation here in New Jersey. I had a home, zoned residential that was re-zoned to light industrial. I thought the property, about 7 acres, would be worth more, however, I was only slightly correct. It is all a matter of supply and demand. If there is a lack of highway business, perhaps the value of your land may go up, but if business/retail space in your area is sitting empty, probably not. Your best source of information would be a local realtor who has experience and knowledge of the commercial market.

Good Luck
0 votes Thank Flag Link Sun Nov 7, 2010
As to a property increase--really depends on the exact location, property size, etc.; and to establish a value consider hiring a licensed appraiser or ask a few local agents for a CMA- comparative market analysis--then go from there.
0 votes Thank Flag Link Sun Nov 7, 2010
Cheryl that would probabily be a question that should be directed towards a local broker or appraiser. In most cases commercial properties are worth more than a residnetial property if it has a commercial viability. Some residential homes have nio commercial viabilit due to a smalll lot size, no parking or lay out of the house itself.
0 votes Thank Flag Link Sun Nov 7, 2010
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