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Questions about selling my rezoned house.

I own my home in Washington state along the I-5 corridor. The area I live in is fairly urban and a couple of years ago the city rezoned it to make it an economic development area. I am within walking distance of where the sounder train runs and where the light rail will likely be run. Last year a developer bought up the next block over and spent in excess of 30 million building a nice apartment and townhouse complex.

I have always gotten some calls off and on about buying my house but in the last 6 months I think I average at least 2 a week between texts and letters from people looking to buy the place.

I am not opposed to selling but my requirement is that on the back end I must make enough that I can buy another place and not end up with a higher mortgage payment. This is made more complicated by the raise in housing prices in the past 5 years and the fact that mortgage rates are more than double the rate I have right now.

So my questions,

Does being rezoned like I outlined make the place more valuable? Obviously the 1950s house isn't what a developer would want the land is.

Houses in my area similar to mine but not in the rezoned area are selling for 425k-ish. Can I expect my house to be worth more because of the zoning opportunity?

Should I be looking to sell to a broker? or maybe directly to a developer?

What should I watch-out for in the selling process?

What kind of fees or other unexpected costs should I expect?

submitted by /u/Savoir_faire81
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1ryc73o/questions_about_selling_my_rezoned_house/
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