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Mini-Mansions and Other Hard to Price Properties!

By
Real Estate Agent with Long & Foster Real Estate

Less than a year ago, I sold a property that was over-improved for the area... I got the seller the price they wanted, but it was a stretch!  Now, less than a year later, I get a call from the buyers who want to sell it for $50K more than they bought it for... and they improved it more!  The property is gorgeous, so with the Lord's help, open houses EVERY weekend, and lots of marketing, I got a buyer, got the appraisal, and we are going to closing this week.  Getting those sales was a miracle to say the least. Both sales were the highest sales in the area - EVER!  Now I have another one coming up, this one is another toughie.  There are no comps in the area.  I have a call in to zoning, so that I can possibly get some thoughts on how to market it AND get a good appraisal - maybe for a church or school or other property that can be considered commercial.  Does anyone have any stories on how they got one of their mini-mansion listings sold?  You know, those homes that are gigantic, new, and gorgeous, in the middle of little 2 or 3 bedroom, one bathroom, one level ranch homes built in the 20's, 30's, 40's and 50's.  If you have a story - good or bad - please share!

 :)

 

Eva

Vicky Carlton
Cincinnati, OH
Comey & Shepherd, Auctioneer - Greater Cincinnati
Auctions are a great choice for hard to appraise properties! 
Apr 17, 2007 06:02 AM
Eva Wilson
Long & Foster Real Estate - Camp Springs, MD
BS, GRI - DC Metro Area - Home Marketing Specialist: The DVD Lady
I hadn't thought of that!  I am going to look into it... Now, question, if they are getting a loan, doesn't it still have to appraise for the price?
Apr 17, 2007 06:07 AM