[quote=UCGal]I’m pretty sure this is the house that Jim the Realtor featured on bubbleinfo.com… If I recall correctly CAR was out of town when it listed and it was already under contract when she got back to town a few days later.[/quote]
Good memory, UCGal. 🙂
[quote=pemeliza]Yes UCGal, I remember when JTR did that piece. It was interesting that many people thought that it would sell for way over list price but it didn’t. Even if CAR missed that one it is a comparable and so something like that house in that price range could easily come up again. The fact that a buyer didn’t step up and overpay for the place should be encouraging to a buyer looking for a similar property and location. Thus, I think there is some opportunity even in the best locations and most competitive price ranges if you don’t mind a project.[/quote]
To be honest, I think it sold to someone familiar with the owner or agent. There were multiple offers on that property, and I’m pretty sure some were all-cash. Maybe it had some serious structural problems or???? We drove by there multiple times while it was in escrow (hoping it would fall out), and they were doing a lot of work to it before escrow closed. It might have been the sellers doing requested work, but it might have been the buyers, too. It was hard to tell.
The houses in that area are almost all custom, so comps don’t really affect prices as much as in tract neighborhoods. You can easily have a $600K house sitting next to a $2,000,000 house — it all depends on the location, lot size, and layout/size/upgrades of the home. Still comps are comps, and if something similar to that were to come on the market at that price, you can bet we’ll put a bid on it (as will many other buyers, unfortunately).
