House Hunting Tip of the Week: Don't buy the Nicest House in
the Neighborhood
The other week a new listing came on the market. While the exterior
was rather blah, the interior appeared quite lovely. New kitchen with GE Profile appliances, lots
of wood floors, big open floor plan with an additional office space on the main
floor, and I was thinking "hey, this could be it." Then I did my homework and searched for what
was going on in the rest of the neighborhood.
Well, this is odd...this listing is 35% higher than all the other
listings. Now in this market there's a
lot of variance within neighborhoods depending on when the people bought, how
much they owe, did they take out a second mortgage to finance that
renovation? However there was one other
odd factor in play here - all the other homes were less than 2000 square feet,
while this one was over 3000! Whaaat?!
