Too long on the Market-Luxury Newton Home can give the impression that something is wrong with the home. This may not be true. I got a call from an appraiser today. She was doing an appraisal on a home near 114 Shornecliffe Road, Newton MA 02458 MLS #: 71746470 and needed to understand why our home is priced so well in comparison to the other properties. In this case professionals will know there is more of a story to the sale and why a property is on the market for too long. In Newton there are many luxury homes for sale. Today there are 57 Active homes on the market above the Luxury threshold of $2,100,000. There are 5 Under Agreement up from 1 last month and that one sold this month.
NAR (National Association of Realtors) who monitors this activity closely is predicting a big end of the year in Sales just as their was last year at this time. Houses are quite often on the market too long because it was priced too high to begin with and they chased the market by coming down too slowly and not strategically. When you chase the market you are being reactive and not proactive. A great agent can tell a Seller the price the house will sell for in the current market within a very small margin of price, perhaps $10,000 of the final market value. Market value is what the Buyer agrees to pay for the property.
With 114 Shornecliffe when I took this listing on last month we decided to price this house to Sell. We priced the house lower per square foot than any Luxury home in Newton MA. We know the house has beeter light throughout the home. The design, classical revivalist, is one of the best examples of this architecture in all of Newton. The location on the South side of Farlow hill puts it in a very nice neighborhood with great properties all around. We know our property has more garage spaces than it's competion and space to park more cars in the driveway. Open House this Sunday 1-3. This property will not be Too Long on the Market-Luxury Newton Home.
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