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What Did It Sell For?

By Carol Zingone

Real Estate Agent with Berkshire Hathaway Home Services Florida Network Realty BK 3030920

March 28, 2014 05:41 AM

I know there are skeptics in the world. They don't believe that house isn't for sale, they don't believe it will sell for more than list price, they don't belive in offering full price.

I thought it might be interesting to occasionally go back and post about a house that sold.

We had the following listing in our local MLS:

Property needs to be demolished has extensive fire damage however does include detached garage and inground pool. Buyer accepts all liability of any violations. Do not trespass on the property anyone that trespasses will accept all liabilities of any violations. Pictures can be sent upon request. Property being auctioned for a limited time being sold as is where is. PROPERTY TOO DANGEROUS TO SHOW. ASK FOR PICTURES.

There was only one picture on the MLS, of the front, but given the description above, I guess pictures aren't that vital to this property sale.

This house was in a good part of Jacksonville Beach, about 6 blocks from the beach and was a 3 bedroom/3 bathroom, 2794 SF, built in 1955 on a lot that was 3/10 of an acre. Listing price $70,000 cash.

SO, what would you think it sold for??

Would you believe it sold in 18 days for $180,039?

That is completely in line with vacant land prices in Jacksonville Beach, and actually BETTER than some vacant land prices.

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Larry Johnston

Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN

Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Carol, It looks like someone had a CMA

Mar 28, 2014 10:19 AM

Kathy Streib

Cypress, TX

Home Stager/Redesign

Carol- wow.. "property too dangterous to show." Now that is amazing.

Mar 28, 2014 10:41 AM

Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

Amazing. I can't imagine something like that would sell with that description in our area.

Mar 28, 2014 12:25 PM

Conrad Allen

Re/Max Professional Associates - Webster, MA

Webster, Ma, Realtor

Wow Carol. That agent is guilty of malpractice. What if it sold for $70,000 and the seller lost all that money.

Mar 28, 2014 08:55 PM

Wayne Martin

Wayne M Martin - Chicago, IL

Real Estate Broker - Retired

Carol, absent any other facts have to agree with Conrad! Enjoy your day!

Mar 28, 2014 09:21 PM

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

I have had a couple REO listings like that, the land was worth more than the home. What a great idea to go back and look. Have a good Saturday

Mar 28, 2014 10:29 PM

AJ Heidmann ~ CRS

McEnearney Associates, Inc. - Alexandria, VA

YOUR Alexandria & Arlington, VA Real Estate Expert

Carol - I have seen a few listings like this here in Northern VA where a fire took place and the listing agent told people not to even walk the property. Though I haven't seen such a large difference between the list & sales prices... I wonder if the strategy was to price it low so that a bidding war would follow?

Mar 28, 2014 10:34 PM

Joe Petrowsky

Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT

Your Mortgage Consultant for Life

Good morning Carol. Wow, that is a sad story, but one that we have all heard before. Stories like this gives everyone in the industry a black eye.

Make it a great weekend!

Mar 28, 2014 11:24 PM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Hi Carol -- we've all seen examples like this and it's good to be able to relay the final sales price to the naysayers who said "that's overpriced!" because of condition. It's all about location. Hopefully, this property was fully exposed to the market to maximize the sales price and terms for the seller.

Mar 28, 2014 11:58 PM

Dianne Goode

Raleigh Cary Realty - Raleigh, NC

Realtor/Broker

Hi Carol. An interesting story. Sounds to me like the agent decided to let the market determine the price. As you say, it's all about location.

Mar 29, 2014 11:29 AM

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400

The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY

Long Island Condo and Home Specialists

Hey, you just never know. Yes, we have had buyers that were interested in a property, but thought the price was too high and passed on it...only to find out later it sold for more!

Mar 29, 2014 10:17 PM

Ron and Alexandra Seigel

Napa Consultants - Carpinteria, CA

Luxury Real Estate Branding, Marketing & Strategy

Carol,

Good post, and the location makes a huge difference in the outcome of a sale such as this. A

Mar 30, 2014 01:12 AM

Andrew Mooers | 207.532.6573

MOOERS REALTY - Houlton, ME

Northern Maine Real Estate-Aroostook County Broker

Attitude, tone, the approach is everything. Negative is a wet blanket. Maybe the lister wanted to buy and put the ten foot pole marks around the remark fields to detonate. But it was a dud and the truth shall set your property listing free of the information highway loaded with over priced, bloated valued real estate! Neat approach to talk about the one that sold... not just new to the market. The three L's, today's blog post sponsor.

Mar 30, 2014 09:00 PM

Chandler Real Estate Liz Harris, MBA

Liz Harris Realty - Chandler, AZ

#ChandlerRealEstateAgent

Great news!

Mar 31, 2014 12:11 AM

Sharon Parisi

United Real Estate Dallas - Dallas, TX

Dallas Homes

Carol, I'm impressed! Dallas appraisers are being cautious with appraisals for those applying for a mortgage. Was this a cash sale? Are you seeing appraisals for less than the sales price in your area?

Mar 31, 2014 12:21 AM

Connie Harvey

Pilkerton Realtors - Brentwood, TN

Realtor - Nashville TN Real Estate

Carol, I'm not surprised it sold for that. I'm surprised that they listed it so low!

Mar 31, 2014 05:51 AM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Carol, we get asked that question OFTEN, and buyers are surprised when they find out the home went for more than they wanted to offer!

Mar 31, 2014 05:53 AM

Diana Zaccaro Broker Associate

ZOOM Realty Group - Cocoa Beach, FL

"The Accidental Blogger" Cocoa Beach, Florida

Carol, Based on the MLS narrative you quoted, the value was obviously in the land and well located vacant land is at a premium on the beaches so someone did very well for themselves.

Mar 31, 2014 12:52 PM

Joni Bailey

101 Main St. Realty - Huntsville, TX

Your Huntsville / Lake Livingston Area REALTOR®

I love it! We hear similar things about waterfront properties. "You'll never get that much for THAT!" ☺

Jul 02, 2015 03:42 AM

What Did It Sell For?

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