Thisway_jewel, Home Seller in Grafton, MA

how can I make our neighborhood more desirable to buyers;we've had 18 showings in a month; the feedback:great house but hate the apt across the?

Asked by Thisway_jewel, Grafton, MA Tue Oct 25, 2011

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You are faced with "economic obsolescence" - also known as external, location, or environmental obsolescence. This is a type of depreciation that occurs outside of your own home.

Examples of "economic obsolescence" include airport noise, toxic waste, nuclear power plants, freeway noise, dust and air pollens, changes in zoning, and more. In your case, it's the apartment building across the street.

Properties such as yours that are faced with "economic obsolescence" will experience reductions in value. As such, given that you already had 18 showings in a month, you should consider reducing the price to help induce someone to overlook the issue and buy your home.
1 vote Thank Flag Link Tue Oct 25, 2011
There is nothing you can do. Unfortunately that is an objection that can't be fixed or can only be fixed by a price reduction. There becomes a point where the price is attractive and the objection goes away. I had a home that had a major highway in its backyard. 60 showings with everyone complaining about the highway noise. $15,000 reduction and the house became attractive and sold with-in a few showings. If you have had 18 showings in a month with an overwhelming response to the apartment across the street it is probaly time to address a price change. Sorry!!

The only other thing I can suggest is point out positives to the neighborhood that would not be available in other neighborhoods...... walk to train, walk to park, walk to downtown.... whatever it may be.
1 vote Thank Flag Link Tue Oct 25, 2011
Price is often the only thing that can overcome a problem like yours.
0 votes Thank Flag Link Wed Nov 9, 2011
You can only control what you own so perhaps you need to express how and why it has never bothered you or do something drastic to reflect the eye sore across the street.

Sorry, I wish we had a better answer but unless you can convince the owners of the place across the street to fix up their home to benefit the neighborhood you are going to have to get more creative.

http://territory.com/
Web Reference: http://territory.com/
0 votes Thank Flag Link Tue Oct 25, 2011
You can't unfortunately - just keep stressing the strong points of your place and find out what the buyers objections were - sometimes it's easier to meet an objection head on instead of going up against the whole area.

Amy
0 votes Thank Flag Link Tue Oct 25, 2011
This is like trying to hide the cemetery across the street from the luxury house. It's going to be hard to make it not noticeable. There is a saying in real estate, objections you can fix you fix but the objections you can't fix need a price reduction to make go away. Unless there are code violations or laws being broken you might have a hard time.
0 votes Thank Flag Link Tue Oct 25, 2011
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