Newsflash: Reselling a new construction home in a developing neighborhood

Less than a year ago I purchased a brand new home in a neighborhood that is still being fully built out. I am now planning to sell due to relocation and looking for any tips from those who have been in a similar situation.The home I purchased was the builder’s model home in “Phase 1” and I believe I got a really good deal. They were ready to move on to “Phase 2” so I made a lowball offer which was accepted. The house appraised for $15k more than I paid and is one of the cheaper houses in the neighborhood (prices range from $325-$400k, which is slightly on the higher end for the general area).I paid $329k and put down 20% so the current mortgage balance is ~$265k. I’m fully aware that I will likely lose money after closing costs, but I’m more worried about the house sitting for sale for an extended period of time. The most obvious factor working against me is that most people moving into the neighborhood likely want to build something to their liking in the new phase. Is my best bet to just price it aggressively and find a really good listing agent who can help me market?

Read more at https://www.reddit.com/r/RealEstate/comments/6f6tx1/reselling_a_new_construction_home_in_a_developing/?utm_source=ifttt

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