How To Price Home?

[Chris Schwartz]

Location/Listing Price Problem:

I have a house that will be renovated and flipped for sale. A good number of homes in the surrounding area have been renovated and are fetching $260k+ in SP....however I'm having a hard time trying to price mine for market. The difference and con is this house is at the end of a street that both backs up to the rear of a commercial store and is very near a busy highway. The state of OH took 90% of the back yard of the house across the street (nearest the highway) for widening - they have since put up a giant ugly metal barrier right in their backyard. Pros of this are noise reduction...cons are obvious. Can't really see the metal wall from my house but you can see the roof to the commercial building as you're driving in and in the winter the trees provide less cover - although there is a very high and nice privacy fence to separate. 

My question: How would you price this home and how much of a hit, if any, would you expect due to location? See photos for reference 

[Giselle Azcona-Lubbock]

What  about the neighborhood? is it a desired location? School system? How long long to homes typically stay on the market for in that area? These questions might play a factor on price as well. 

[Peter Stewart]

Hire an experienced real estate broker to help you price and sell the property. 

[Gregory Wilson]

Some buyers will care, some not. I went through a 750,000 openhouse with sold/pending sign that had a 100 foot 32000 volt high tension tower so close I could hit it with a baseball (in my youth). I kept saying to myself - who would live here.

[Chris Schwartz]

Great to hear - and I needed to hear that I think. I've also walked through homes like that and thought the same thing...then behold, they go under contract sometimes even above ask. It's certainly intimidating when you're weighing whether to put $20-40k into a property or not. 

[Chris Schwartz]

Quote from @Giselle Azcona-Lubbock:

What  about the neighborhood? is it a desired location? School system? How long long to homes typically stay on the market for in that area? These questions might play a factor on price as well. 

 This is an excellent answer, thank you!