We had a bank approval at 121,900, a buyer (not ours) and an inspection. The inspection read "recommend further testing for chines drywall". There were pictures. The buyer walked. He had young children. We believed there was no Chinese drywall and had 2 inspections done to our satisfaction indicating there was none. The cause of the "appearance of Chinese drywall........ was sulfur in the water.
We were told to relist it at 115,000. (denied now by the negotiator) In the meantime the air conditioner was stolen. (5000) We have a new buyer at 100,000. The negotiator wanted their highest and best offer. They said 103,000. the negotiator said no and wants to shred the file.
We did the following analysis and sent it to the negotiator. Our analysis is based on common sense. We aren't making the point 'There is Chinese drywall' Our point is who's going to buy it when they see the pictures and are told the first inspection indicated the presence of Chinese drywall?
If it has it, it's worth 62,340. If it doesn't it's worth 103,000. The negotaitor wants as close to 121,900 as she can get. That is our case. We have only the court of public opinion. What do you think?
OUR ANALYSIS
In zip code 34286 on our mls ,there are 7 homes that showed up when Chinese Drywall is mentioned in the public remarks. The stats are listed below. The average sp/ftac is $34.13 The subject property has 1845 ftac. = $62,969
All homes without Chinese Drywall were $63.98 x 1845 ftac = $118,043
S |
Address |
LDATE |
LPRICE |
LP/SqFt |
ADOM |
S DATE |
SPRICE |
SP/SqFt |
HTD |
P |
BR |
BA |
GAR |
ACT |
3172 PARADE TER |
6/24/2010 |
79,000 |
38.76 |
16 |
|
|
|
2038 |
N |
4 |
2 |
2 CAR |
PNC |
1749 NORVELL AVE |
11/6/2009 |
59,000 |
38.29 |
178 |
|
|
|
1541 |
N |
3 |
2 |
2 CAR |
PNC |
2511 VALKARIA AVE |
11/6/2009 |
59,000 |
37.56 |
193 |
|
|
|
1571 |
N |
3 |
2 |
2 CAR |
SLD |
2342 BEEVILLE AVE |
9/25/2009 |
44,550 |
26.33 |
54 |
12/21/2009 |
55,000 |
32.51 |
1692 |
N |
3 |
2 |
2 CAR |
SLD |
3143 TUCSON RD |
12/16/2009 |
79,950 |
39.35 |
86 |
3/31/2010 |
60,000 |
29.53 |
2032 |
N |
3 |
2 |
2 CAR |
SLD |
4228 BIRNAM TER |
9/30/2009 |
88,100 |
38.74 |
10 |
10/27/2009 |
84,000 |
36.94 |
2274 |
Y |
3 |
2 |
2 CAR |
SLD |
1541 GERONA TER |
12/10/2009 |
79,000 |
37.57 |
56 |
2/8/2010 |
79,000 |
37.57 |
2103 |
N |
3 |
2 |
2 CAR |
|
AVERAGES |
|
69,800 |
256.60 |
85 |
|
69,500 |
34.13 |
1893 |
|
|
|
|
We searched the same zip code without using Chinese Drywall in the public remarks. There were 743 records. The average lp/ft was 67.41. The average sp/ftac was 63.98.= $118,043 for the subject property.
With Chinese Drywall in the public remarks, the average sp/ftac was 34.13 = $62,969 for the subject property
|
Search Criteria |
|
Status |
ACT , PNC , SLD |
MLS Area - Zip |
34286 |
Property Style |
Single Family Home |
Beds |
between 3 - |
Full Baths |
between 2 - |
Garage/Carport |
2 Car Garage |
Year Built |
between 2004 - |
Sold Date |
24 months back |
S |
Address |
LDATE |
LPRICE |
LP/SqFt |
ADOM |
S DATE |
SPRICE |
SP/SqFt |
HTD |
P |
BR |
BA |
GAR |
ACT |
3172 PARADE TER |
6/24/2010 |
79,000 |
38.76 |
16 |
|
|
|
2038 |
N |
4 |
2 |
2 CAR |
PNC |
1749 NORVELL AVE |
11/6/2009 |
59,000 |
38.29 |
178 |
|
|
|
1541 |
N |
3 |
2 |
2 CAR |
PNC |
2511 VALKARIA AVE |
11/6/2009 |
59,000 |
37.56 |
193 |
|
|
|
1571 |
N |
3 |
2 |
2 CAR |
SLD |
2342 BEEVILLE AVE |
9/25/2009 |
44,550 |
26.33 |
54 |
12/21/2009 |
55,000 |
32.51 |
1692 |
N |
3 |
2 |
2 CAR |
SLD |
3143 TUCSON RD |
12/16/2009 |
79,950 |
39.35 |
86 |
3/31/2010 |
60,000 |
29.53 |
2032 |
N |
3 |
2 |
2 CAR |
SLD |
4228 BIRNAM TER |
9/30/2009 |
88,100 |
38.74 |
10 |
10/27/2009 |
84,000 |
36.94 |
2274 |
Y |
3 |
2 |
2 CAR |
SLD |
1541 GERONA TER |
12/10/2009 |
79,000 |
37.57 |
56 |
2/8/2010 |
79,000 |
37.57 |
2103 |
N |
3 |
2 |
2 CAR |
|
AVERAGES |
|
69,800 |
256.60 |
85 |
|
69,500 |
34.13 |
1893 |
|
|
|
|
We searched the same zip code without using Chinese Drywall in the public remarks. There were 743 records. The average lp/ft was 67.41. The average sp/ftac was 63.98.= $118,043 for the subject property.
With Chinese Drywall in the public remarks, the average sp/ftac was 34.13 = $62,969 for the subject property
|
Search Criteria |
|
Status |
ACT , PNC , SLD |
MLS Area - Zip |
34286 |
Property Style |
Single Family Home |
Beds |
between 3 - |
Full Baths |
between 2 - |
Garage/Carport |
2 Car Garage |
Year Built |
between 2004 - |
Sold Date |
24 months back |
Kieran and Cecelia loughman
Exit Platinum Realty
Comments(5)