Back to Results
I'm going to post what a comparable home sold for last month on my road less than 1/2 mile from my property. I will post the differences in the properties. Any opinions on how my home is priced based on this comparison.Comparable/My home:Sold: $185,000 (List: $189,900)/List: $259,9001735 sq ft, slab/2196 sq ft plus 966 sq ft unfinished, walkout basement9 ft ceilings/10.5 ft ceilings kitchen and living, cathedral master, the rest 9 ftSunroom, separate dining room, tiny kitchen/No sun room, huge eat-in kitchen, no dining room5 acres, partially wooded flat lot/5 acres, rolling wooded lotBuilt 2003/Built 20022007 Taxes: $1520/2007 Taxes: $2066Everything else between them is pretty comparable.
Please enter a valid email address.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
Your home is priced about $70,000 too high. The only real difference is in square footage and since the majority of it is unfinished it doesn't give you that much of an advantage.
On the emotional, non-rational side...once you break a 6th-figure barrier (that is, going over $199,999) it looks like WAAAAAAAYYY more and you are going to lose out on a large chunk of buyers who "can't go over $200,000".
Oh well, then I guess it will never sell because we aren't giving it away.
Well prepare to sit on the market and give away, or should I say give back some of that bubble equity you feel so entitled to. Learn form others mistakes on here.
Maybe I should have my home independently appraised before making any hasty decisions? Would that be worth my while? Do others get an appraisal before setting the price?
Have you asked for CMAs? They are free, and even if you are going FSBO, there is nothing wrong with asking a couple local agents to do one for you.
Actually, we are already listed and I realize the appraisal maybe should have been done first. Our realtor did a CMA, but still it was our best guess based on the information we had. If the appraisal comes out above what we listed, this could be a marketing tool. If below, we would need to drop the price.
If the appraisal comes out above what we listed
Dude, please share what you are smoking! I could use some today.
Fresh catnip : )
Bad bowl of weed. Oregano most likely.
Always before i've sold, the agents I've interviewed have done a CMA using 3 to 15 properties that have sold relatively recently. I tend to price on the low end of their ranges so that I can sell quickly.
If you have only the one property for a competitive market analysis (and hopefully there are more), I'd put yours at about $199,000 - $210,000.
If you are just testing the waters, I wouldn't waste my time at the moment. If you have to move now and won't come down, you may have to hunker down for a long wait.
And the crack smoking continues.
If you don't live in one of the areas not affected by the housing crash, you are in for some hard times. I feel bad for you!
Andy, I can't sell my home for 25% less than it appraised for in 2000. And that's after 120K cash paid in upgrades. I wish you better luck.
I also think the comp has a more desirable lot...yes, you both have 5 acres. But the fact that your comp has 5 flat , partially wooded acres, where you have 5 *rolling* *wooded* acres is a big difference.
Their lot is more useable, yours is not. What's the value of useable land?
I live in a mountain area...and I can tell you a rolling acre filled with trees (my neighbor has 150 trees on their one acre (I kid you not), but it is flat is not going to be as appealing to a buyer as an acre that's been thinned out a bit and has some useable property. There's upkeep on a big property too, even if you don't use it all. If the lot is hilly (rolling), often there's a level of work and expense involved to make some of it useable.
It sounds like you have about one extra bedroom and a basement (unfinished)...is that worth $75,000?
Our agent said $250 - $265K and to expect 90 - 120 days on the market. We priced at $259,900 and now I wish I had listed at the low end due to the fact that houses that are $250K and less in our area are noticed more right now than those that are $250K and above.
One glimmer of hope is that I just found out 2 of the comps just sold. One was on 5 acres and the other on 6 acres and were priced about the same as our home. Also, both were in the same school district. One was even slightly less square footage so I don't think we need to lower our price $70K. We have extra square footage and the quality of our home is above and beyond. A basement is valued in an area that has tornadoes.
As for the lots, actually we looked at their flat lot when we bought ours. Their lot was listed at a slightly lower price. Our lot was considered more desirable since you could build a walkout on it. Honestly, there is no upkeep on our property other than removing any dead trees close to the house. Any other out in the woods, who really cares?
I will see what the appraiser says and maybe I can say some of you were were right, but I doubt it.
What was the selling price of the two comps that just sold?
I don't know yet, but they were priced at $220,000 and $265,000.
Hopefully you can get those numbers sooner than later so you can put them into their calculations. Of course, they aren't final until the sales have actually closed. keep your fingers crossed that they are in your favor.
I discussed price with realtor today and she agrees dropping to 250K for the reasons that I stated and others on here recommended. I have an appointment an appraiser on Tuesday so maybe that will be a reality check and maybe not. There are other recent sales in our favor, but I am not doing anything on the price until the appraisal is finished. I may seem like I'm obsessing (maybe I am). I just want to make sure the home is priced at a fair value or otherwise why waste my time listing it for sale only to have someone make an offer and then it doesn't appraise for what they are willing to pay.
Currently, we live out of the city limits and I am wanting to move into a specfic subdivision near work. It is less than 2 miles from where I work and my spouse works. We could bike to work go home over lunch and just save a lot of commuting time. There are 2 houses for sale there in our price range. One is a FSBO custom built home and the other is new and never occupied. The FSBO home looks to be the better deal but can't buy it if we dont' sell our home.
Rather than stress about whether these 2 homes are still on the market if/when we sell, I decided we can always buy a lot here and build. I'm sure the builders would be pretty anxious for some business in this slow market. We've built before and could do it again. It is just a slight pain trying to find a place to live with pets and moving twice.
Please enter text in the "Enter the text to display" field.
Please enter text in the "Enter URL" field.
Please enter a valid URL.
Please insert a video embed only
Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.