Each day I drive my son to or from school, I drive up Thornton Road. There has been a For Sale sign outside this one house for a very long time.
To my delight yesterday, I saw the UNDER CONTRACT sign rider up — YAY!
On January 30th I wrote about the great pricing strategy of the townhouse in Timonium that sold in a few days. Well, this is just a mile & 1/2 down the road!
A cute cape cod, single family home with a great addition off the back, and fantastic curb appeal, this home was for sale much longer than expected. Yes, it has its drawbacks, namely the busy road, but it is also very conveniently located in close walking distance to Riderwood Elementary School, which is a blue ribbon school with tennis courts, playgrounds and lots of open park-like space. So why was this house on the market for 248 days? You can’t change location. Its’ condition is wonderful. The only thing you can change in price. They began up near $500,000 and re-listed at $475,000. The asking price at time of contract was $469,000, which does not mean that is the contract price.
So what does this all mean?
It means sellers have to get serious when it comes to pricing their houses if they want them to sell more quickly. This is a learning experience & market for all of us right now, and we agents are learning the curve as well. We can track data and work to predict where the price should be. And though that information may be hard for some sellers to hear, it is a necessity in order to get your home sold. Let’s get it done!