Just Sold in Crest Ridge Estates, Woodbridge, VA
On October 4th (2015,) I had the pleasure of listing 11648 Crest Maple Drive in the community of Crest Ridge Estates in Woodbridge. The market analysis I had run at the listing appointment just a month prior revealed not too many comparable sales in the actual community. Not unusual since there are only 100 homes in the neighborhood. However, based on what had sold, what we were competing with and the upgrades the sellers had done to the home, we picked a list price of $540,000. We knew we were reaching a bit because we had one of the smallest homes in the neighborhood and were competing with a larger home priced at $550,000.
When that neighboring property went under contract, we knew it was time for an adjustment in price. On October 25th, the list price was lowered to $525,000. Activity picked up, but still no offers. The Sellers actually made a reverse offer to a buyer on the fence before reducing their price again. Unfortunately, that buyer really wasn't as interested as they thought. The reverse offer revealed that. On December 10th, another price adjustment was made, this time to $515,000. That did the trick.
On December 13th, they received an offer. A very low offer, but an offer. Negotiations quickly revealed an unrealistic buyer. Next! On December 20th, another buyer appeared, but another low offer. To go higher, they had to bring in family on the loan. And their lender didn't want to work the weekend of Christmas. That ended up costing them.
While no one else wanted to work that weekend, I sure did. We had an open house on December 26th and two days later, got a much better offer. Unfortunately, the second buyers improved offer didn't yield enough for the seller, compared to third buyer. The contract with the third buyer was ratified on December 29th.
Settlement occurred on February 12th (2016) for full list price of $515,000. The sellers gave closing cost assistance to the buyer. After three offers, it was obvious there was no getting away from it.
This sale proves that no time of year is a bad time to list your Crest Ridge Estates home. Multiple offers the week between Christmas and New Year's proves that.
When you are ready to sell your Crest Ridge Estates home, go with experience. With over eleven years experience in full time Prince William County real estate sales, I know the ropes and will make sure you get the most you can for your Crest Ridge Estates home.