Real Estate & Home Selling Question

[melancholywings]

Hi -

I'm hoping one of you home sauvey people can answer this for me. We are considering selling our house with in the next couple of years. It is our first home. The city purchased some of our yard - and by purchased I mean they said 'your selling it and you have no choice in the matter' in order to widen the road. Because of the project they also had to purchase a duplex on one side of us, and part of another neighbors yard. The city has almost finished the road and have part of the duplex boarded up (lucky us) and the other half is rented out. The neighbors next to us are very old and have had some serious health problems. They wouldn't mind selling their home either and I think soon it's going to be to much house for them.

The road we are on is very busy and feeds onto the interstate, and connects up with another busy road. There are no apartments on the road, or any retail buildings. They are building single resident family homes farther down from us.

Is there a way to find out if there's any 'retail' interest in our property? We kind of suspect that it'd be a good place for an apartment complex or something retail like a Starbucks and don't want to invest money into the house fixing it up if it's just going to be torn down.

 

[CowboyCO]

You need to speak with a commercial real estate agent, who can look into zoning, etc. Commercial real state is getting hammered right now, but you said two years, so this is definitely the time to start.

 

[melancholywings]

You need to speak with a commercial real estate agent, who can look into zoning, etc. Commercial real state is getting hammered right now, but you said two years, so this is definitely the time to start.

Thanks! Will they charge a fee for that information?

 

[CowboyCO]

Thanks! Will they charge a fee for that information?

They should not charge a fee to do a property review. They make money selling property, so it' spart of their job. However, they will try to get you to list with them if they feel there is an opportunity to sell your property, so be clear why you are calling and what your plans are.

 

[melancholywings]

They should not charge a fee to do a property review. They make money selling property, so it' spart of their job. However, they will try to get you to list with them if they feel there is an opportunity to sell your property, so be clear why you are calling and what your plans are.

Seriously thank you so much!

 

[arminnie]

Good luck. This happened to a friend of mine. When they built their house it wasn't even in the city. Then the city "acquired" some of their land to widen the road.

She eventually made a FORTUNE off of it when Walmart built across the street, and their land became zoned commercial. It helped that the neighbors bonded together and negotiated as one.