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Selling a unique home

We are selling our house soon and are having some difficulty pricing the house. Four realtors have come to assess a value, but the prices ranged from 650-825,000. We have two major drawbacks-we are on a main road, and we have 2 bdrms. However we are across from a beach, have water views, a fabulous free form ingroung pool with waterfall features and every amentity you can think of ( the house was totally renovated two years ago (wiring, plumbing, etc) If we set an asking price lower than we believe it is worth and receive many offers, can we raise the asking price? If someone meets our price, do we have to accept?
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July 18 2007 - US
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It is important to ask the agents how the market is in your area. If it is at steady pace or has picked up you are in good shape. I like to think of the EBAY effect. You post something on EBAY and people interested will bid on it. You could put your house on the market for one dollar and the bidding would begin. You would end up in the range that the realtors gave you. That is fair market value. A scarry thought I know. My point is that you can put it on in the range that you were given and the market will show you the right price by the offers you get. Do you have to take an offer that you don't want to -no. But you may have to pay a commission to a realtor.
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July 22 2007
Profile picture for Gaylie
Zillow - Give more consideration to the unique home. When using Zillow, it would help if the listing would show the 'unique' feature in the lead of the ad right under the address, rather than in sidebar comments about the home, which might not be readily seen by a visitor. My listing has a shop and view that is to die for, but the house is just ordinary. It doesn't warrant the price by the square feet unless you know about the uniqueness of the property.
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July 22 2007
Sammy26, here is the thing. Your house may in fact be unique. One of a kind, best location and floor plan available for the lot size. But, I have seen so many "unique" homes that you don't know to cry or laugh. Gaylie wants a computer program to give special consideration for her "unique" home's value. I can't begin to tell you about some of the sellers unrealistic expectations. And, let's not talk about what the buyers think they should get now that they heard it's a "buyers market".

I once sold a house with a great location and wonderful views. It was updated and ready to enjoy as it was. However, the buyer (who made the seller jump thru hoops) tore the house down a week after closing. Today is a state of the art castle. That buyer was a builder and saw value and potential I had missed. The previous seller got right price for his home, but in retrospect, it was a bungolow.

Now your renovations and improvements may have helped you, or, been a waste of money. Sorry. That's just how it is. Your improvements are "your" improvements. Let's think about the views - will they always be there? Maybe a neighbor will build a big house across the street and all you will see are a set of garage doors. Pools give almost NO increase in property value and you can tell that to the tax assessor -but, he won't listen to you. He wants tax revenue.

My gut says the low price is the right price for your house. But, you would be crazy to listen to me - I have never even seen it. Ask the real estate agents to show you the stats on the office performance of sales in your area and take a look at the list price vs. the sell price.

Good Luck.
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July 22 2007
 
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