There are a few possible conclusions here.
- The sellers inherited the property in 2011, so they still had plenty of capital-gains taxes to pay if they didn’t live here. Don’t want to pay so much in tax? Sell for less!
- The sellers were happy for a fairly quick sale, and having to take less wasn’t an imposition. The same could be said for all long-timers – if they had to take less, they could…..unlike at the last peak when so many were financed 100% or more.
- The buyers paid $25,550 in costs on behalf of the sellers – a nice sweetener.
- Maybe the original condition was such a turnoff that the sellers knew they needed to budge.
Recent history would suggest that multiple offers might have been in order. But not here, and certainly not everywhere now…..and the fixers are the first to be taking the hit.
This is a nice house. For one where that is move in ready, fully remodeled (not special imported finishes but just regular updated finishes) and they take the wall down to open the floorplan though, how much would it cost roughly you think?
$200,000 will get a remodel started.
It would be very tempting to add a second story/roof deck to pick up a bigger ocean view. $500,000?