If you want great views, then a street like McJannett is fabulous.  The one in today’s list should sell for significantly more than $449k.  A few months ago, we sold one that wasn’t even as upgraded in the higher-$400’s.  I might even guess that it could crack $500k… but you never really know.  On offer night, anything can happen and usually does.

One quick decision – a buyer getting fed up or frustrated or excited – can mean the difference of MANY thousands of dollars extra to a seller.  The listing agent also has a role.  The right words at the right time can sway a decision by the same amount (or more).  There have been times this year where knowing what to say (and when to say it) has made our clients a boatload of money.

It’s a game of inches, for sure.  Just like Al Pacino says in today’s video.  In hot markets, the little things matter just as much as they do in a regular market.  Maybe more.

Also, do you like how they mentioned “Exterior Caulking” in the Hutchinson listing?  Never mind that being a regular maintenance requirement of a home… in this case, let’s call it an EXTRA!  But besides that, it’s 1,600 square feet and one of my favourite semi-detached layouts.

The history of sales for the same floor plan as Ruhl is very interesting.  And completely indicative of today’s crazy real estate market.

The model is a Plan 5 Corner, just over 1,600 square feet.  It’s small for a double garage, but the layout is very efficient with not much wasted space.  There were a few sales over the summer in the $640-650k range, with a nicely upgraded one selling on Leiterman for $665k.  So then… the home across the street from that sale listed about a month ago for $699k, and sold for $700k!  And it wasn’t as nice as ANY of the others, including the ones selling below $650k.  And definitely not better than the $665k one.

One of two things will happen with Ruhl:  either they will get something at or above the $700k mark, which will validate that recent sale… or the market will look at the entire history and see $700k as a BIG outlier when it comes to value.

And as much as we can rely on oodles and oodles of market experience and our “gut feel”, sometimes the market follows a Machiavellian trend towards irrationality, with a delicate battle between self-interest and virtue.  Now THAT’S a thought to start a weekend!  Enjoy and be sure to check out the video about the “Game of Inches” if you need some inspiration.  See you again on Monday!

 

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