Profile picture for cass310

Great home, unreasonable price. Why so high?

Sold in 2000 for $158K and valued in 2008 for $205k (all publicly available information).  Average home in Ardmore is worth $180k-225k.

Is there something else about this property that justifies this exceptionally high price?
  • Question refers to 2376 Maplewood Ave, Winston Salem, NC 27103
  • September 23 2009
  • 0Yes

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Answers (2)

Profile picture for seaalice
Thank you for your reply and input.  Those that know Ardmore know that it is indeed an eclectic historic neighborhood with offerings from the complete fixer uppers to those that have been masterfully renovated and updated over the years.  The large range of house sizes, layouts, updates or lack there of, lot sizes, street appeal, ect lend itself to a similary wide price range.  To simply look at the average price range for a neighborhood such as Ardmore is not always an appropriate means of establishing what a "reasonable" price is.  I would refer you to the aerial map that Zillow provides.  In looking at Maplewood Avenue alone it can be seen that the prices vary significantly and several houses are valued/sold in excess of $280,000 and beyond (some over $300k).  This is an 84 year old home that has had structual, mechanical and cosmetic renovations (many of which are detailed in the listing)  since purchased in 2000.  I would invite you to schedule an appointment for a viewing, if there is interest, so that you can see all this listing has to offer first hand.
  • September 24 2009
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Profile picture for real estate mike
Freedom, any seller can ask any price they want. cash buyers can then pay that price if they wish. Mortgaged buyers on the other hand are limited by appraised value and therefore are limited in price.
  • September 23 2009
  • 0Yes

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