Right after Christmas, I was approached by a seller who was trying to flip a house in Ballard. It had been languishing on the market for over three months. After doing a walk-through and looking at comps, I told them to take it off the market for a week, install a set of French doors in one of the first-floor bedrooms (thus turning it into a dining room) and then re-list it for the same price.
Of course, they consulted other agents, who told them to forget about the dining room--just lower the price by 40K. Those agents were following conventional wisdom which states you should never sacrifice a bedroom, but I believe there's an exception to every rule. When you have more than 3 bedrooms in Ballard, go for the dining room.
Fortunately they followed my advice and spent $600 to create this dining room. We re-listed it a week later at 585K and it sold the first day for full price! The moral of this story is: do it right the first time.
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