Dear Grumpy Realtor,
If there are a bunch of foreclosure properties in my neighborhood, will that drag down the selling price of my home?
-I Pay All MY Bills
Your concerns are very real when you’re surrounded by a bunch of deadbeats that didn’t pay their bills. If a buyer sees that there are several lower-priced homes in your area, due to foreclosure or otherwise, it stands to reason that they’ll try to use that as a bargaining chip to get you to come down in price. Now, there’s no one saying you MUST lower your own price; you can still ask for whatever you feel is fair. But after your home sits on the market for several months, thoughts of lowering your price are bound to creep in.