River Breeze Western Branch South

[Kristine F.]

Does anybody know why property values have not gone up as much as the properties in other neighborhoods? I was looking at Redfin and saw that some of the houses in Riverbreeze sold in the high $280s in 2007; however, the most recent 4 bedroom property just sold for only $220,000. I just bought a foreclosure in that neighborhood and renovated it. I haven't decided yet if I will keep it as a rental or if I will sell it. If I sell it, I will likely lose money since I spent more money for renovations than I originally planned. However, if the value will not appreciate or will decline, I am thinking I might be better off selling now at a loss and investing somewhere else that have more potential for growth than keeping it as a rental. Thanks in advance for the response.