11 Months and +10% on 10th

By Dave Fratello | July 7th, 2014

No one buys a house to live in it for a year. Or for 11 months.

And if circumstances require a quick resale shortly after you've unpacked, expect to lose some money. Transaction costs can be killer.

Unless you're lucky, and it's 2014.

That's the happy ending at 1560 10th St. (4br/3ba, 2400 sq. ft.), a dollhouse of a remodel on a half lot in East MB.

This one emerged first last year, back in June 2013, asking $1.389M.

That was just a little high, and it closed in early August for $1.349M.

By April this year, it was back (call it 8 months later), asking $1.479M. 

They made a quick deal, but it flopped and the property dropped off the MLS a while before popping back up. A new deal posted in late May.

Just before July 4, they closed for that asking price: $1.479M.

That's a net markup of 10% year-over-year, more than enough to cover transaction costs – plus, perhaps, enough to have paid the mortgage for most of the time the sellers lived there.

Lucky it was 2014.

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