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Just Sold: Four Bedroom Carriage Home in Morris Farm

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Real Estate Agent with Long and Foster Real Estate VA License # 0225089470

Just Sold:  Four Bedroom Carriage Home in Morris Farm

Earlier this week I was telling you about the three bedroom carriage home I sold in Morris Farm at 14346 Broadwinged Drive.  Today I sold the four bedroom carriage across the street at 14347 Broadwinged Drive.  You can imagine how confusing it might be when you have two files open, both listing around the same time, going under contract close to one another, closing the same week and with similar address with only one number off.  Thankfully, they were friendly neighbors.  In fact the 14347 Broadwinged Drive in Gainesville sold for $435,000 on June 30, 2017.neighbor at 14347 Broadwinged recommended me to the neighbor at 14346 Broadwinged.  Still remember how easy it was to walk from one listing appointment right across the street to the other.

Of course, while these homes were right across the street from one another, they had entirely different sales experiences.  That has to do with price point and size.  The three bedroom sold quickly and had multiple offers.  Tough to find a three bedroom home in Gainesville, VA.  When it comes to four bedroom homes, not so much.

When the owners of 14347 Broadwinged and I first met, there wasn't much on the market.  That was about a month or two before they hit the market.  We picked a price of $448,000, which would be doable assuming inventory in the four bedroom homes remained low.  Wouldn't you know as soon as we listed on April 5th (2017), all kinds of four bedroom homes in the price range started popping up.

KitchenAfter a little over a month on the market with lots of showings and no offers, but competitors snatching up the buyers, it was time to re-evaluate the list price.  What was realistic with no competition was no longer realistic.  The sellers lowered their price to $439,000, hoping one of the two buyers tire kicking would jump off the fence and make an offer.

On May 22nd, they went under contract with buyers who were driving by and happened to see the yard sign.  Accompanied by their agent, they knocked on the door and requested a last minute showing Thank goodness my sellers accommodated.  

Today, June 30th, those very thankful buyers closed the deal with my sellers at $435,000 and all of the closing costs paid by the seller. 

When you list your home, it's important to keep an eye on the surrounding market.  What was true when you first listed, may no longer be so.  In this case, increasing competition made it very clear that $448,000 not acceptable to buyers.   Maybe our market has crested with values.  Maybe not.  Only time will tell.  If you want your own free market analysis of your Gainesville, Virginia home, call me at 703-402-0037.  We'll check the market when we first meet, and again before you list.  And we'll continue to do so until you are under contract.  

 

Comments (12)

Tanya Van Blake-Coleman
Van Blake-Coleman Realty, St. Thomas/www.talk-to-Tanya.com - St Thomas, VI
Improving the Quality of Your Life

Congrats on your recent sale! Good luck keeping the momentum going.

Jun 30, 2017 12:49 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Congratulations on another great sale, Chris Ann. Here's wishing you many more this summer!

Jun 30, 2017 12:49 PM
Matthew Klinowski, PA
Downing Frye Realty - Naples, FL
Naples Golf Guy | Find Your Dream Lifestyle

Chris Ann congrats on your closing! Hope you have many more this year.

Jun 30, 2017 01:12 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Chris Ann Cleland ,

Congratulations to you and your sellers!! Good job and am glad it all worked out!

Jun 30, 2017 01:15 PM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Congratulations Chris Ann!  Don't you love when your commute time to the next listing is across the street.  Fabulous story!

Jun 30, 2017 01:30 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Chris Ann,

Congratulations on the sale of this carriage home.   We are delighted for you, and wish you many more.  A

Jun 30, 2017 02:25 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

That's awesome Chris Ann! I don't think I've ever heard of selling two homes right across the street from one another. Kudos to you and your sellers!

Jun 30, 2017 07:14 PM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

That's called "selling the farms"!  Congrats on selling those two properties.

Jul 01, 2017 12:19 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Chris Ann

Congratulations on the sale of the carriage home located at 14346 Brodwigned Morris Farm Gainesville Virgina.

Good luck and success.

Lou Ludwig

Jul 02, 2017 07:30 PM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

I find this situation so odd, Chris Ann. Why are 4 bedrooms not as desirable as a 3 bedroom? I would think it would be the other way around, because a family who needs a 4 bedroom, can't buy a 3 bedroom.

Jul 03, 2017 11:58 AM
Chris Ann Cleland

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents --There is a lot more choose from in four bedroom homes.  Add hesitant buyers to the mix because they aren't used to having things to choose from and you end up having to attract them by lowering the price.  The three bedroom was the only detached three bedroom in the zip code when she listed.  It was priced lower of course, but the buyer demand for that home was much higher.  I'm sure those three bedroom home buyers would love a four bedroom, but they are often priced out of that market.


 

Jul 03, 2017 01:34 PM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

Real estate markets can change overnight. We constantly have to re-evaluate and sometimes make adjustments.

Jul 06, 2017 02:24 PM
Chris Ann Cleland

The smart sellers never hesitate when the market is speaking.

Jul 06, 2017 05:27 PM
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Chria Ann

A belated congrats, cheers cvc

Jul 07, 2017 07:02 PM