With it being somewhat of a quiet Monday morning, it soon turned into a busy one after the afternoon arrived. Once again, if it were not so windy, it would’ve been an exceptionally pleasant day.
The closing of one of my sales went very well and glad for it because both the buyer and sellers have been more wonderful to work with. If I had a dozen of those homes on the market right now, I’d say every one of them would be sold.
Just to make a comparison, the home I just closed was a 4 bedroom 1 1/2 story home that was spotlessly clean and exceptionally well cared for. It also had a double garage, and a semi-finished basement and across the street from a playground on the southwest side of our City. It sold for $71,000.00 and went sailing thru with its financing.
Now on the flip side, there was an extremely small two bedroom home listed today which appears to need some cosmetics. It also has a semi-finished basement, but has a rickety one stall garage, and located on a relatively busy street on the southeast side. It was just listed for $76,500. Do you now see how the pricing of real estate is all over the map this year? Price per square-footage would tell you there’s something radically wrong when comparing those two properties.
Another shocker I noticed today was seeing a “flipped” home that was built in 1959, having only two bedrooms, a partial basement, and no garage selling for $119,000. I shook my head when seeing that because it must’ve been some poor soul who fell in love with all the recent cosmetics that were made. Oh well, I hope they plan on staying there for a very long time while waiting for the average market prices to catch up with what they paid for it. I would sure like to have been a mouse in the corner and able to see what comparable sales were used by the appraiser who substantiated that value.
Later this afternoon I did get a radical price reduction on 434 – 23rd St. SW. It is now priced at $93,000 which I believe is a steal. If someone would go in and spend $10K on cosmetics, that roomy 3 bedroom home would easily sell for $125K. It has a newer roof, newer siding, a single attached garage with opener, and a huge kitchen that has room for a washer/dryer closet. For sure, if I were looking for a home to “flip”, I’d have that one under contract tomorrow.
I did manage to get a home rented today which is owned by one of my clients, and all the happier for it due to the excessive number of phone calls and emails I received on it. With the weather getting warmer, it appears there are quite a few tenants looking for a change in housing. The gentleman who rented it just happened to catch me at a time I had free to show it to him. I believe he’ll take care of it and be responsible about paying his rent on time.
I was sickened today when hearing that Notre Dame Cathedral in Paris was burning down. It really creeped me out when hearing it from a client today because it was just two days ago that I watched a short video on it which was talking about the planned exterior repairs that were needed due to the amount of pollution that’s been eating away at its stonework. Just for your information, Notre Dame means “Our Lady” in English.
To think that cathedral survived 800 years, and when tomorrow morning arrives, it’ll be a pile of ashes. I’m sure the people of France are beside themselves knowing that a historic religious landmark has been destroyed. I’m going to continue praying that the fire wasn’t started by an arsonist or terrorist because that’ll create all the more hatred towards those evildoers. There are times when something catastrophic like that happens, it either drives people farther apart, or pulls them closer together because it’s almost like a death in the family, and you never know which way it’s going to turn until it happens.
Tonight’s one-liner is: We have two ears and one mouth so that we can listen twice as much as we speak.