As of about two weeks ago (?), now I am not the only one on my block with a For Sale sign! Another townhouse, with a garage, across from the one that sold for 200,000 is on the market. This one is listing for $239,000....are they crazy? Just because their neighbor got 200 for theirs, do they think they'll get that for their house? What about realtors advising them on price in regards to other town-homes in the area?
House sales in my neighborhood for review:
(Note all these townhouses are the same: about 1400-1600 sq. ft.; 3 BR; 2.5 baths; may have a garage or not)
#112 (no garage) sold after 11 months empty for $181,000 in early August 2009
#115 (garage) listed for $225,00, sold in 2 weeks for $200,000 in mid August (Budwieser relocation)
[sidebar: he bought the house for $218,00 3-4 years ago; he lost money!]
#114 (garage) listing for $239,000, went on the market 2 weeks ago.
My house, #109, no garage, went on the market August 1 for $189,000. We (my realtor's recommendation) priced it this way because other comparable townhouses (not the ones in my neighborhood) are selling for this price; and the one that sold for $181,000 ruined it for my pricing. I have been reassured that my house will appraise ok.
It's frustrating. But I've also "given up" that I'm moving this fall. The kids are in school, and military (we have a VERY transient force around here) doesn't really move it's folks till spring. However, one can hope someone would take advantage of the $8000 tax incentive that expires 11/30; it's not just new homebuyers, it's also for folks who have not owned a home in 3 years!!! I have been told Spring is an active house selling/buying time around here.
The saga continues.....
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