Why is the house across the street, with the pool, $200k less?

[Rockemsock]

So you’re having an open house at 1005 Brightwood Dr. in SEH ($699k), and the people walking in to your house just so happen to look directly across the street at 1008 Brightwood Dr. ($499k). They look interested, but check out your house anyway. As they leave and head over to the other house, you tell them “but for $200k more, you can have an extra 200sf over here…and you won’t have to take care of that custom pool and jacuzzi!”

http://www.redfin.com/stingray/do/printable-listing?listing-id=1361685

[gn]

I think it’s a bit of both:

1. The seller asking $699k is asking too much.
2. The other seller asking $499k is asking below market price simply because he is desperate to generate offers (it’s a short sale). Looks like he ran out of money while working on his back yard 🙂

[Artifact]

Interesting to note on the house across the street:

They bought in April of 2005 for 730K, Listed in December for 549K, Reduced in January down to 499K.

If we assume the 499 is an attempt to get some offers, then we can also assume 549 was not getting them – meaning a 25% reduction from April 2005 did not get any offers – the price now is more than a 30% drop – it will be interesting to see if they get any offers not.

[Artifact]

Interesting to note on the house across the street:

They bought in April of 2005 for 730K, Listed in December for 549K, Reduced in January down to 499K.

If we assume the 499 is an attempt to get some offers, then we can also assume 549 was not getting them – meaning a 25% reduction from April 2005 did not get any offers – the price now is more than a 30% drop – it will be interesting to see if they get any offers not.

[Artifact]

Interesting to note on the house across the street:

They bought in April of 2005 for 730K, Listed in December for 549K, Reduced in January down to 499K.

If we assume the 499 is an attempt to get some offers, then we can also assume 549 was not getting them – meaning a 25% reduction from April 2005 did not get any offers – the price now is more than a 30% drop – it will be interesting to see if they get any offers not.

[Artifact]

Interesting to note on the house across the street:

They bought in April of 2005 for 730K, Listed in December for 549K, Reduced in January down to 499K.

If we assume the 499 is an attempt to get some offers, then we can also assume 549 was not getting them – meaning a 25% reduction from April 2005 did not get any offers – the price now is more than a 30% drop – it will be interesting to see if they get any offers not.

[Artifact]

Interesting to note on the house across the street:

They bought in April of 2005 for 730K, Listed in December for 549K, Reduced in January down to 499K.

If we assume the 499 is an attempt to get some offers, then we can also assume 549 was not getting them – meaning a 25% reduction from April 2005 did not get any offers – the price now is more than a 30% drop – it will be interesting to see if they get any offers not.

[gn]

I think it’s a bit of both:

1. The seller asking $699k is asking too much.
2. The other seller asking $499k is asking below market price simply because he is desperate to generate offers (it’s a short sale). Looks like he ran out of money while working on his back yard 🙂

[gn]

I think it’s a bit of both:

1. The seller asking $699k is asking too much.
2. The other seller asking $499k is asking below market price simply because he is desperate to generate offers (it’s a short sale). Looks like he ran out of money while working on his back yard 🙂

[gn]

I think it’s a bit of both:

1. The seller asking $699k is asking too much.
2. The other seller asking $499k is asking below market price simply because he is desperate to generate offers (it’s a short sale). Looks like he ran out of money while working on his back yard 🙂

[gn]

I think it’s a bit of both:

1. The seller asking $699k is asking too much.
2. The other seller asking $499k is asking below market price simply because he is desperate to generate offers (it’s a short sale). Looks like he ran out of money while working on his back yard 🙂

[Author]

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