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!