What does it mean when three model-matches go pending the same week?
- Casual observers might think, “the market’s picking up!”
- It makes people wonder if they sold too cheap.
- It’ll make sellers think they should adopt the “wait it out” program.
But those paying attention will notice how unpredictable home sales can be.
We only know the list prices of the other two, so they could close for considerably less. The first house shown in this video had been on the market 70 days, though they did start at $820,000. It had the dark hardwood floors but was also on the T-intersection. The other was a short sale, which nobody cherishes.
Yet when we made our offer on the REO, listed for $699,900, there was only one other offer, and it was lower.
We offered $650,000, the bank countered $680,000, and we countered $660,000 – and they took it.
How do you explain the other two selling the same week? Was there that much difference between them?
The “market” tends to be a random, roving swarm of marginally-related events.
I must be getting jaded. My first thought was that a bank must have been in a hurry to get some problem REOs off its books.
Nice purchase for your buyer!
“$2000 stairs to look at a $59 water feature”
Precious – I am still laughing.
Definitely bears out your statement that most buyers only want perfect properties, and that the real gems are buried a bit.
Someone needs to save those poor palm trees!
Jim, Don’t forget the definite moneymaker angle: The water feature may well qualify as a salmon research station with its own fish ladder. You may qualify for grants under the National Marine Fisheries Act. Hey, they’re blowing money on everyone else!
That pillar is great. Really ties in the whole “grecian formula” for the water feature. Nice one JtR.