Steve, I agree, they priced it way too high to start with.
Yes, the one that sold for $515,000 had much more curb appeal, was landscaped well, with a well manicured healthy green lawn. I never was able to see the inside, so I can’t comment on that.
The $415,000 house really wasn’t in bad shape, it wasn’t in disrepair, but it could use some updating. I’d say it was about average, but it did not appear as appealing as the other one (that’s why I don’t understand why the realtor and/or seller didn’t immediately drop their price alot when they saw the other nicer house sell for $515,000). It needs some landscaping work, mostly some clearing away of stuff. It is a corner lot. Inside, it was clean, had just been painted, seemed to be in decent shape. Can’t remember what condition the carpet or floors were in. The kitchen was in OK shape, but had the original cabinets, it could be updated (it was built in the early 70’s). Everything in the bathroom was original too. I seem to recall that the seller said her aunt had lived in it since it was new. I don’t know if there were any other problems, such as a cracked slab. The realtor didn’t mention any, and I never saw anything mentioned in the MLS descriptions.
I think the much lower sales price they ended up with is a combination of factors. One, timing, they should have lowered their price earlier, the market was changing, and not in their favor. Two, in the market we have now, with less buyers and more inventory to choose from, it seems that the homes that are in the best shape will sell quicker and easier. Three, it’s a two bed/two bath, only about 1100 sq feet.
