I know that it is a buyers market but what makes them think they can steal a house? Here it goes my example of what is a buyer thinking.
About 4 months ago I had a listing in my development in Georgetown priced in the low 600k. It was a beautiful home but it had an easement that was horrendous. A shared driveway that you had to drive by someones garage to get to your house. And when went inside the home and looked out the front door all you saw was your neighbor watching T.V.There was about 1.5 acres but 1 acre was not useable and was a huge hill of rocks. consisting of 2828 sq ft. 8 rooms 2.5 baths You only had enough parking for 4 cars and if you had company they had to park in the cul-da-sac and walk up a hill to get to the home.
Well that home finally sold for 585K
.
Now back in November I sold a 3600 sq ft home same development in Georgetown, 9 rooms 2.5 baths with a 1 acre useable lot that was flat and could possible house a pool. Sold for $712,500
Now I have a current listing in Georgetown 9 rooms 2.5 baths 1.04 acres 1/4 acre not useable NO EASEMENT, 3000 sq ft, Fenced in yard, great location in the development and is currently priced at $634,900. We just reduced it $30,000 because the seller is relocating. We just got and offer for $585,000 they compared it to the listing with the EASEMENT, No Parking, and less rooms. What is with that? The agent even told me they were similar homes and I did agree but noted there were many issues as far as easement etc. I told the seller what the offer was and he was beside himself and insulted. I was also insulted
About 1 month ago another home sold for $625,000 and was 500 sq ft smaller. And NO BACK YARD
Well I guess I can't figure it out. You price a home for less than it's worth because the seller needs to go to Philly and $50,000 less than the current asking price is insain. Am I wrong or do I need reality check?
Well the ending was very funny. My seller counter offer the buyers $640,000 that is $5100. over the current listing price. I thought that was great.
Just wanted to share and let some of my frustration out by Blogging... Let me know what you think...
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