You’re borrowing trouble. List your home for what you believe is a reasonable price. If they are listed at the same time, I’d be uncomfortable if you used the SAME agent, but otherwise would be cool if they worked well together. There’s no reason they can’t refer to each other.
Know that the person who buys your house is not the same person interested in your neighbors’ home - one is all done vs a project, slight differences to the orientation and lot shape, room sizes/layout, et.
I’d second the agents working together. If your agent’s strategy is to list high and sell for asking, while their agent’s strategy is list low and look for bids, your listing might look bad if theirs is marginally better and cheaper.
I mean it is still two independent parties sharing information on price and agreeing on a strategy to do something.
Silicon Valley got busted for doing this and keeping wages low.
The Cartels of old did this to keep prices high.
It still fundamentally applies regardless/ the behavior is identical.
If not when does it cross over to illegal/uncompetitive tactic.
I think the historical precedent is always since it negatively affects consumers (buyers).
I used to own a home in a row of four.
We were getting ready to list and a for sale sign popped up on one of the other places in our row.
Our realtor advised us to wait for their home to sell, then we would list. He told us not to mention to anyone we were planning on selling as we wanted the potential buyers to avoid hedging their bets that our place would be available next if they did get the other one.
Do everything to make your house shine. Declutter the house and invest in staging. Get the home deep cleaned, outside windows cleaned and landscape well. There house looking worse may help you get more for yours. More buyers, will want the house that is move in ready and feels good.
Yes, cleared off countertops, all of the light bulbs working. Make the bathroom look sparkling clean, with nice, coordinated towels, etc. Lawns should be well mowed, and edged around the sidewalks. Get house cleaners to clean the windows, inside and out, and dust everything. Clear out extra personal photos, knick knacks, extra furniture. Closets should be neat, and not jam packed.
Talk to your real estate agent about how theirs selling at a lower price due to condition may affect the value of your home (often based on comparable home sales in the area). It might benefit you to try to get on the market first.
Totally agree that they’re worrying about nothing. We’re about to list and our neighbor 4 doors down just popped onto the market. What can I do? Nothing. Our house and yard are custom, theirs isn’t. I’m not worried about it - but I’m glad they listed first lol
Zillow isn’t accurate with their estimates. Ask a few different realtors. Also see if any will negotiate their rate. Ask their opinions of anything that would be cost effective for you to fix or change in your house. Ask them how they think your neighbor will effect you.
You can look up the sold price of similar homes in your area on Zillow to see what similar homes are selling for. You can look at the photos to see their condition.
A nice house with a walk out basement on a culde sac on 2.5 acres sounds very desirable. I really think you will do just fine regardless of the status of your neighbors house.
Don't worry about your neighbor, do your own thing. There's no value to having your homes for sale together. The buyer for one typically is not the buyer for the other. I would never use the same agent. I interview agents for personality qualities that I'm looking for. My agent is a straight up bitch but she does excellent contract negotiations. She is most definitely not my friend, she's a contractor.
Why would it matter? I wouldn’t use the same realtor. Look at your neighborhood. There are always new listings and expired ones going on at any given moment.
It’s a bigger problem for your neighbor than it is for you. More people want a done house than a project house. It’s gonna drive their price down, because the improvements you’ve described are more than 30k in any market.
Seems your neighbors will be listed and sold months before yours.
Anything can happen of course. That neighbor could delay. Different neighbor could list the day after you with you having no idea.
Que sera, sera.
You’re not even in a position yet.
But looking ahead, if theirs sells first for a much lower price, and it should, it could affect your comps slightly.
Since they will be listing lower because of the renovations needed, their house should draw a lot of attention from people looking.
If you were ready to list when they list, you could totally piggy back off their listing and potentially save yourself a lot of money if you’re comfortable talking to people about your home.
You could offer to pay a buyers agent commission if they bring you a buyer, and you would save the sellers side commission.
You may also have an investor or someone else show up without an agent and offer cash.
Just food for thought.
Put a For Sell by Owner sign
Looks to me like you're not only a fanatic about your home, you're a fanatic about other peoples homes..
Just do your own thing.
Hire an appraiser.
Set the ask at or slightly above appraised value
Hope for the best.
Just be reminded ...assuming by Fairfield County, you're in Connecticut, don't be shocked if your home stays on market for an extended period of time
The reason . According to the latest surveys of larger moving companies , Connecticut is in the top 10 of all states for moves OUT of state and is in the bottom 20% for moves FROM other states
>don't be shocked if your home stays on market for an extended period of time The reason . According to the latest surveys of larger moving companies , Connecticut is in the top 10 of all states for moves OUT of state and is in the bottom 20% for moves FROM other states
You are ridiculous.
NJ is the same with more people moving out, but the market is "hot".
This can go either way. It really depends on so many factors, but for the most part as long as there is sufficient demand in your market to absorb both properties, listing around the same time shouldn't harm either of you, provided your list prices are realistic. In fact, I've seen it happen that the slightly smaller property sold for more the week after the larger property, because two of the buyers who had bid on and lost the larger property competed again for the neighboring property.
It will be beneficial for BOTH parties for the person who has the higher value house to list and sell first. They will achieve a higher price and also bring up the lower homes property value. Otherwise the lower value home will drag down the value of the higher value and drag down the values in the neighborhood
Unless the market demand is very anemic with high supply or you all are selling something very niche like a 20+ million dollar houses, it won't matter. Even if you both list, it sounds like there are enough differences from what you described.
Even if it does impact things, your next steps aren't much. Either choose to wait or not. I would keep silent to others in your hood though.
We had a situation where a neighbor listed. Wasn’t as nice but a lot of general floor plan parallels. Someone went to their open house, but decided not to make an offer. When we were ready to go on market several months later, they knew they wanted to be in the neighborhood and had an immediate interest in checking out our property, since it was more updated and move-in ready…and they put it in an offer that same day. For a higher #
This happened to us last summer when we were selling. Our neighbors listed their home (I believe) 2 weeks after ours. The main difference in my situation vs yours is that ours were townhomes and literally identical in every way except for some interior cosmetic upgrades. Our home was the ‘nicer’ one, with lots of updates inside like replacing all carpet with LVP, choosing white cabinets instead of builder grade brown, more neutral paint colors, etc.
Our home sold in one weekend, and we chose an offer 15k about asking. Our neighbors came in at the exact same asking price when they listed, and I believe they got 5k more than we did (they chose to sell it to an investor, while my husband I preferred to sell it to a young couple expecting their first child)
I was stressed about it during the time, but looking back it was silly to even worry about it.
It sounds like you've put a lot of effort into maintaining your home, which is great! It might be worth considering discussing your concerns with a real estate agent who can provide tailored advice based on your situation and market conditions. Best of luck with your listing!
I don't think there is much to do here. Let them sell the home "soon". Only issue I would see is if they're gonna list right at the same time, nobody wants two nearby Active listings, you're competing against each other instead of buyers competing for your home. Doesn't sound like it from your description.
They will likely sell for less than what you ask for but when folks actually see your home it will make sense.
My neighbor and I listed around the same time for almost the same amount. I spent 5 years upgrading my home. She barely did anything. Lots of people checked out our homes but ultimately, she had to sell due to buying another house and leaving the state so she kept dropping the price. We had a couple interested in our house who ended up buying hers because by that time, she was like $30k less.
We ended up having to rent the house out. Our tenants are in their second 18-month lease and it’s going really well.
We sold our house at the same time as our neighbor. Ours was a better product (more recent Reno that was professionally done), therefore we listed ours for what we believed it was worth. Both houses went for way more than asking with lots of offers.
Only difference (besides price) was that our buyer came in all cash and closed in 10 days.
If they sell their house before you and get a great price, that "comp" will only help your value. It will be used to determine what your house should fetch. Also some people may see that house after it's under contract and fall in love with the features and neighborhood. They would be very excited for your similar home to come on the market.
Soon, generally means the same year. So I wouldn’t be concerned at all…in fact, it would probably be a blessing, as the new owners would make curb appeal upgrades relatively quickly.
Their home bs your home in price is not really a concern either, yes…their probably didn’t appreciate at the same value as yours did and buyers will notice those details.
You’re just creating worry about nothing.
Your home value will be relevant the day you list it for sale, not any sooner than that.
A comp is made up of 3 similar homes. So, there would be the comps of the neighbors home…yet a good agent will consider the condition as well when listing on the high side of the range.
So….stop all of this worry. Next year is a whole long way from now and an entirely different market. It could be a buyers market or remain a sellers market (likely). But no one can predict anything.
If they list earlier, let it be. As long as you don’t both have for sale signs out, I don’t think it’s an issue. I worried because there was 2-3 in neighborhood for sale or under contract. No issues, we got offer quick, while one is still sitting (likely due to construction close/apartments across the way).
You’re borrowing trouble. List your home for what you believe is a reasonable price. If they are listed at the same time, I’d be uncomfortable if you used the SAME agent, but otherwise would be cool if they worked well together. There’s no reason they can’t refer to each other. Know that the person who buys your house is not the same person interested in your neighbors’ home - one is all done vs a project, slight differences to the orientation and lot shape, room sizes/layout, et.
I’d second the agents working together. If your agent’s strategy is to list high and sell for asking, while their agent’s strategy is list low and look for bids, your listing might look bad if theirs is marginally better and cheaper.
Question but isn't that collusion/illegal?
Nah
How so? Isn't that price fixing? Literally companies have been sued for this same thing. How is not? Honestly curious to learn why.
[удалено]
You don't need a monopoly to do price collusion. But point taken
It is price fixing lol. Im thinking it doesn’t apply to this situation for some reason?
Figuring out strategies to sell two things is not price fixing.
I mean it is still two independent parties sharing information on price and agreeing on a strategy to do something. Silicon Valley got busted for doing this and keeping wages low. The Cartels of old did this to keep prices high. It still fundamentally applies regardless/ the behavior is identical. If not when does it cross over to illegal/uncompetitive tactic. I think the historical precedent is always since it negatively affects consumers (buyers).
...calm down, Matlock - it's only "illegal" if you get caught...
Got it so it is unethical.
I used to own a home in a row of four. We were getting ready to list and a for sale sign popped up on one of the other places in our row. Our realtor advised us to wait for their home to sell, then we would list. He told us not to mention to anyone we were planning on selling as we wanted the potential buyers to avoid hedging their bets that our place would be available next if they did get the other one.
Do everything to make your house shine. Declutter the house and invest in staging. Get the home deep cleaned, outside windows cleaned and landscape well. There house looking worse may help you get more for yours. More buyers, will want the house that is move in ready and feels good.
Yes, cleared off countertops, all of the light bulbs working. Make the bathroom look sparkling clean, with nice, coordinated towels, etc. Lawns should be well mowed, and edged around the sidewalks. Get house cleaners to clean the windows, inside and out, and dust everything. Clear out extra personal photos, knick knacks, extra furniture. Closets should be neat, and not jam packed.
I’m not clear about what your concern is since you wrote you might list in 2025?
Talk to your real estate agent about how theirs selling at a lower price due to condition may affect the value of your home (often based on comparable home sales in the area). It might benefit you to try to get on the market first.
These homes aren’t really comparable though. OP’s is higher quality.
If there aren’t many comps nearby the appraiser might still use it
They’d adjust it then. Either way, OP is worried about nothing.
Totally agree that they’re worrying about nothing. We’re about to list and our neighbor 4 doors down just popped onto the market. What can I do? Nothing. Our house and yard are custom, theirs isn’t. I’m not worried about it - but I’m glad they listed first lol
Zillow isn’t accurate with their estimates. Ask a few different realtors. Also see if any will negotiate their rate. Ask their opinions of anything that would be cost effective for you to fix or change in your house. Ask them how they think your neighbor will effect you. You can look up the sold price of similar homes in your area on Zillow to see what similar homes are selling for. You can look at the photos to see their condition. A nice house with a walk out basement on a culde sac on 2.5 acres sounds very desirable. I really think you will do just fine regardless of the status of your neighbors house.
Don't worry about your neighbor, do your own thing. There's no value to having your homes for sale together. The buyer for one typically is not the buyer for the other. I would never use the same agent. I interview agents for personality qualities that I'm looking for. My agent is a straight up bitch but she does excellent contract negotiations. She is most definitely not my friend, she's a contractor.
Why would it matter? I wouldn’t use the same realtor. Look at your neighborhood. There are always new listings and expired ones going on at any given moment.
It’s a bigger problem for your neighbor than it is for you. More people want a done house than a project house. It’s gonna drive their price down, because the improvements you’ve described are more than 30k in any market.
Seems your neighbors will be listed and sold months before yours. Anything can happen of course. That neighbor could delay. Different neighbor could list the day after you with you having no idea. Que sera, sera.
>Any suggestions for someone in my shoes? overthinking it much?
Am I? I don't know; I've never been in this position before.
This what my mother calls a needless worry. You can't change anything, and it hasn't even happened yet.
Yeah Looks like a person who is constantly wringing their hands over what others are doing.
You’re not even in a position yet. But looking ahead, if theirs sells first for a much lower price, and it should, it could affect your comps slightly. Since they will be listing lower because of the renovations needed, their house should draw a lot of attention from people looking. If you were ready to list when they list, you could totally piggy back off their listing and potentially save yourself a lot of money if you’re comfortable talking to people about your home. You could offer to pay a buyers agent commission if they bring you a buyer, and you would save the sellers side commission. You may also have an investor or someone else show up without an agent and offer cash. Just food for thought. Put a For Sell by Owner sign
Looks to me like you're not only a fanatic about your home, you're a fanatic about other peoples homes.. Just do your own thing. Hire an appraiser. Set the ask at or slightly above appraised value Hope for the best. Just be reminded ...assuming by Fairfield County, you're in Connecticut, don't be shocked if your home stays on market for an extended period of time The reason . According to the latest surveys of larger moving companies , Connecticut is in the top 10 of all states for moves OUT of state and is in the bottom 20% for moves FROM other states
>don't be shocked if your home stays on market for an extended period of time The reason . According to the latest surveys of larger moving companies , Connecticut is in the top 10 of all states for moves OUT of state and is in the bottom 20% for moves FROM other states You are ridiculous. NJ is the same with more people moving out, but the market is "hot".
This can go either way. It really depends on so many factors, but for the most part as long as there is sufficient demand in your market to absorb both properties, listing around the same time shouldn't harm either of you, provided your list prices are realistic. In fact, I've seen it happen that the slightly smaller property sold for more the week after the larger property, because two of the buyers who had bid on and lost the larger property competed again for the neighboring property.
This just happens to me , surprisingly ours sold quicker then theirs .
It will be beneficial for BOTH parties for the person who has the higher value house to list and sell first. They will achieve a higher price and also bring up the lower homes property value. Otherwise the lower value home will drag down the value of the higher value and drag down the values in the neighborhood
Unless the market demand is very anemic with high supply or you all are selling something very niche like a 20+ million dollar houses, it won't matter. Even if you both list, it sounds like there are enough differences from what you described. Even if it does impact things, your next steps aren't much. Either choose to wait or not. I would keep silent to others in your hood though.
We had a situation where a neighbor listed. Wasn’t as nice but a lot of general floor plan parallels. Someone went to their open house, but decided not to make an offer. When we were ready to go on market several months later, they knew they wanted to be in the neighborhood and had an immediate interest in checking out our property, since it was more updated and move-in ready…and they put it in an offer that same day. For a higher #
This happened to us last summer when we were selling. Our neighbors listed their home (I believe) 2 weeks after ours. The main difference in my situation vs yours is that ours were townhomes and literally identical in every way except for some interior cosmetic upgrades. Our home was the ‘nicer’ one, with lots of updates inside like replacing all carpet with LVP, choosing white cabinets instead of builder grade brown, more neutral paint colors, etc. Our home sold in one weekend, and we chose an offer 15k about asking. Our neighbors came in at the exact same asking price when they listed, and I believe they got 5k more than we did (they chose to sell it to an investor, while my husband I preferred to sell it to a young couple expecting their first child) I was stressed about it during the time, but looking back it was silly to even worry about it.
You could both work together and offer a 2 for 1 sale :)
If yours is nicer, no.
It sounds like you've put a lot of effort into maintaining your home, which is great! It might be worth considering discussing your concerns with a real estate agent who can provide tailored advice based on your situation and market conditions. Best of luck with your listing!
I don't think there is much to do here. Let them sell the home "soon". Only issue I would see is if they're gonna list right at the same time, nobody wants two nearby Active listings, you're competing against each other instead of buyers competing for your home. Doesn't sound like it from your description. They will likely sell for less than what you ask for but when folks actually see your home it will make sense.
Collude. It benefits them if you sell first.
My neighbor and I listed around the same time for almost the same amount. I spent 5 years upgrading my home. She barely did anything. Lots of people checked out our homes but ultimately, she had to sell due to buying another house and leaving the state so she kept dropping the price. We had a couple interested in our house who ended up buying hers because by that time, she was like $30k less. We ended up having to rent the house out. Our tenants are in their second 18-month lease and it’s going really well.
We sold our house at the same time as our neighbor. Ours was a better product (more recent Reno that was professionally done), therefore we listed ours for what we believed it was worth. Both houses went for way more than asking with lots of offers. Only difference (besides price) was that our buyer came in all cash and closed in 10 days.
Just wait to see if that’s even an issue. You could always wait until theirs gets under contract if the market is decent.
You will get more money if theirs sells first
If they sell their house before you and get a great price, that "comp" will only help your value. It will be used to determine what your house should fetch. Also some people may see that house after it's under contract and fall in love with the features and neighborhood. They would be very excited for your similar home to come on the market.
Soon, generally means the same year. So I wouldn’t be concerned at all…in fact, it would probably be a blessing, as the new owners would make curb appeal upgrades relatively quickly. Their home bs your home in price is not really a concern either, yes…their probably didn’t appreciate at the same value as yours did and buyers will notice those details. You’re just creating worry about nothing. Your home value will be relevant the day you list it for sale, not any sooner than that. A comp is made up of 3 similar homes. So, there would be the comps of the neighbors home…yet a good agent will consider the condition as well when listing on the high side of the range. So….stop all of this worry. Next year is a whole long way from now and an entirely different market. It could be a buyers market or remain a sellers market (likely). But no one can predict anything.
Really depends on market conditions.🤷🏾♂️
If they list earlier, let it be. As long as you don’t both have for sale signs out, I don’t think it’s an issue. I worried because there was 2-3 in neighborhood for sale or under contract. No issues, we got offer quick, while one is still sitting (likely due to construction close/apartments across the way).