Sunday, January 30, 2011

House for Sale!

I looked in the Sunday Newspaper today.  Here's what I see:
There are only 4 houses currently on the market that compare to our house.
4 bedrooms/4baths.  Similar size lots.  Our house has a separate 2-story 1 bedroom/1bath guest cottage that is 900 square feet.  Our house is also in a quiet neighborhood while the other 3 houses are in more rural settings.

House #1 - $133 sq. ft
House #2 -      94.50 sq. ft  I've "heard" this is a fixer upper
House #3 -    113.00 sq ft.  This house has dropped in price this week
My House -    117.00 sq ft and that does not include the cottage.  If you did include the extra 900 square feet it would come out to $98.00 square foot.

Also, in the last 2 years (or longer, I've lost track)  here are the stats of houses in our neighborhood that have sold:

House #1 - $121.56 sq. foot
House #2 -    103.38 sq. foot
House #3 -    113.68 sq. foot
House #4 -       83.80 sq. foot - this was a divorce situation.  The husband basically dropped the price low enough that there would not even be a penny left after closing.
House #5 -      88.94 sq. foot - Foreclosure.  New construction.  Bank sold it.

We have had buyers who want to go by those last 2 houses.  I'm sure that when the time comes to sell their own house they do not want the sale price based upon an ugly divorce and a foreclosure.

Should we lower the price?  If we lowered it just $5,099.00 it would make the house (minus the cottage sq. footage)  $115.50 a square foot.

Will the house sell in the spring?  I keep hearing the market is going to pick up.  It always picks up in the spring.

Meanwhile, life keeps moving.  Tennis season is starting.  Weddings and Birthdays and busy-ness.  Maybe all the traveling will make the time pass quickly.

No comments:

Post a Comment