Expert: Dottie Worthington - 7/9/2005

Question
I'm trying to find out whether the value of a home decreases significantly when a home sits vacant. My mothers passed away two years ago and we have been unable to sell the home. We now have an offer much less than we were asking but we are wondering if the value of the home has dropped so much and will continue to do so, that we should take the offer. We go to the house weekly and run water, turn things on etc... it is not in disrepair at all. Thanks-  

Answer
Usually letting a house sit is not a good thing. But if you haven't had nay offers, there may be other factors involved. Price, location, and market mainly. If you have it listed with a Realtor, get an updated CMA and if it is within the area of the offer, go ahead and sell.