Here at MBC we don't wish anyone ill will. If you want to, or have to, sell your house, we hope for the best for you in your situation.
We might mock the dreamers, those who seek excess fortunes for nothing, but then, dreamers are always mocked.
Sometimes people have to sell and it just doesn't work. Take this house…
Here at MBC we don't wish anyone ill will. If you want to, or have to, sell your house, we hope for the best for you in your situation.
We might mock the dreamers, those who seek excess fortunes for nothing, but then, dreamers are always mocked.
Sometimes people have to sell and it just doesn't work. Take this house on 17th St. for example.
This was a large, somewhat typical East Manhattan mega-mansion. 5br/3.5ba, 3,500 sq. feet, flowing kitchen w/ granite, smooth stucco, OK, by now you know the drill.
Purchased in April 2005 for $1,675,000.
Put up for sale in April 2006 for
$2,075,000.
Who sells a house a year after moving in? Let's assume this was not a flip, but someone who got transferred. Taking that new job meant leaving home, but a $400,000 profit would have been nice, eh? (Taxable because it was < 2 yrs.)
This one really
did not work out.
The list price dropped over and over throughout last summer and fall. The house was vacant shortly after it went on the market. The agents re-listed it fresh and new a few times (an annoying new convention in the market) and brought the price down to $1.699m.
It finally sold, closing Jan. 2007 for $1,650,000.
That's $25k less on the face of it than the purchase price in April '05. Now deduct commissions (near $100k) plus carrying costs for 9+ months after the owners moved out. The sellers lost a lot of money on this house, and might well have needed to bring a check to escrow.
We wish you well in your new job. Back in your old hometown, your experience is a cautionary tale.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 30th, 2023 at 10:32am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
