As the real estate season nears a slow period, we're actually seeing a good number of listings finding buyers.
Some are those that have been out there for a while, trolling unsuccessfully for buyers.
(Fun word fact: "trolling" implies the use of rod & reel, while "trawling" suggests use of a net... most…
As the real estate season nears a slow period, we're actually seeing a good number of listings finding buyers.
Some are those that have been out there for a while, trolling unsuccessfully for buyers.
(Fun word fact: "trolling" implies the use of rod & reel, while "trawling" suggests use of a net... most sellers don't have the real estate equivalent of a net, and are casting out looking for one buyer, hence... trolling.)
It was just last week that we observed of this time of year, for sellers: "the best options are to (1) make price cuts and (2) try to work out the best deal possible when you've got a buyer on the line." (Dave, why, pray tell, is your head full of fishing analogies? - Ed.)
Here are the newest escrows coming out of listings that had run for a while before making it work:
235 4th (4br/6ba, 4135 sqft.) is new construction on Highland and fronting a walkstreet.
The modern-style spec construction had a unique challenge during the build, accidentally going over the 30' height limit, requiring a partial rebuild.
The issues were fixed, though, and it was just a matter of finding the market level.
The listing ran 8+ months, starting in prime time in February this year, but cutting nearly $1M during marketing before inking a deal yesterday while listed at $7.399M.
The timing and price cuts somewhat mirrored the last modern-style new construction on Highland to sell.
That was 232 6th (5br/7ba, 4300 sqft.), which launched in Feb. '16 and needed about 6 months to make a deal. Launched at $9.000M, the listing took cuts down to about $7.6M before closing at $7.385M in Oct. '16.
Also new construction that hung around...
210 S. Poinsettia (6br/6ba, 5500 sqft.), in the southern part of the Hill Section, needed more than 5 months to bring an acceptable offer.
And this one needed a full $1M off the initial asking price to make it work.
The start in May was $8.500M, but it cut to $7.500M (its second cut) about 10 days ago. That's what triggered the final bit of action.
An offer was accepted yesterday on this one, also.
A walkstreet remodel at 229 19th (5br/4ba, 4540 sqft.) first appeared on the market in November last year at $5.975M, took the holiday season off, and returned this Spring at $5.875M.
After a bit more than 7 months this year, the price was down to $5.250M and remodeling plans for the former duplex were made part of the listing. (Good to see, as the floorplan was a bit choppy, though interesting.)
They made a deal late last week.
More new construction: A south end modern-style new construction alley TH at 218 1st Place (3br/4ba, 2000 sqft.) began in May 2018 (pre-completion) asking $3.999M.
That listing dwindled down to $3.549M over the Summer this year.
They rebooted (with fresh, new DOM) in mid-September at $3.399M, the price where it stood when they accepted an offer over this past weekend.
The front unit of the same building, 217 1st St. (3br/4ba, 2000 sqft.), closed in May this year at $3.912M.
And we'll credit 709 Larsson (4br/4ba, 3400 sqft.) for its quick sale (6 DOM) last week, but that came after 3 months of the Spring and Summer where the home went unsold.
The prior listing was at $3.299M and then $3.199M.
The recent listing, which was snapped up quickly, was at $2.999M, or $101K below the acquisition price from just over a year ago, in July 2018 ($3.100M).
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.