hiya 2b. certainly sounds like we are on similar course in this. (edit: and not only that but i just noticed we are 15 posts away from each other as well. :::::insert twilight zone theme song here:::: ) we got stuck selling in downmarket in part because uncle adviced we'd take too big a cap gains hit to sell while mom was still alive. what's your excuse? i figure we'll wind up about minus $150k from what we might have had otherwise. not that i'm lamenting monetary loss, just a good lesson to stick by my own financial savvy intuition into the future.
ours likely will go to an owner who wants a nice new mini-mansion. seemed about five to eight years ago developers were buying but the last few seemed to have gone to new owners. plus a lot of current residents have torn down their own homes & rebuilt to keep up with the newer joneses. now houses range from over 5,000 sf to about 7,500 sf & even bigger on larger intracoastal lots. the view down mom's canal now is really quite something, if you like that $2.5 to $5mm house ontop of house type of a thing.
that's amazing you got an offer so quickly. bet it makes you wonder if you priced too low. but today probably better too low than too high. on the other hand. i'd be afraid of turning down someone who came within $50k of my asking. i guess stuff in your area must be moving better than here. we are priced directly between two other houses based on respective size of waterfront and therefore corresponding size of the boat that can be docked behind it. but the other two have been for sale for months. the lower one dropped it's price by $200k already. as long as they hold where they are now and the higher doesn't lower, which i don't think she will, we should be ok. it happens to be about the very nicest area of a very nice town and though other areas are increasing in inventory this one has decreased. there are only our three available at this price level in this area.
the only other family involved here is my brother and we are in good agreement. he's still running engineering firm so i'm handling this. the poor guy wants to put three little kids through college so he's gonna be working a lonng lonnnng time. we only became friends once we became mom's co-guardians. hadn't we become friends first, we would have needed lawyers today to represent us to each other. i'm so glad mom got so enjoy her sons being friendly to each other in her last few years. i only found out later while going through her personal papers how much this meant to her. she waited her entire life for us to stop fighting. without knowing it, we finally made her completely happy.