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Old 05-17-2008, 06:56 AM   #21
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One of my concerns was the buyer's appraisal. That is why I talked with the local appraiser. He said it would appraise at the higher figure.

One of the benefits, and there are many drawbacks, to living a long time in a small town is that you gain a nodding relationship with many people. This town is small enough that when I went to see the appraiser, nobody was in the office, as he was out taking care of business. However, the door was open, and I went in and waited. After a bit, I decided to walk downtown and see the sights such as they may be. I returned to the appraiser's office about an hour to an hour and a half later and he had not returned.

Last summer I left for a few days. I closed the screen door, but locked nothing. The keys sit in the ignition of the car most days. In such an atmosphere, it is easy to ask someone their unofficial opinion and expect an honest answer.
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Old 05-17-2008, 08:07 AM   #22
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I had an experience selling my last house (Oregon) that confirmed my view of many realtors -- that they are looking for a quick buck and could care less about the client. After firmly suggesting that I list my house at a lower price than I thought the house was worth, I insisted on setting the price ($20,000 higher than the realtor's number). My house sold at the higher listing price in 4 days so I expect it was still priced a little low. If you have a good feel for local values, set the price yourself (get another realtor if required). Now that I am retired, I will likely sell the next one myself.
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Old 05-17-2008, 10:17 AM   #23
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I think you are going to have to find someone that wants your shop (takes up valuable space, blocks views, etc.) so you might as well try to recoup some of your investment. In the end, it will be the market that decides.

But I listed one place 20% higher than any place had sold in our neighborhood (many were bigger) and we sold it the day we listed it for our asking price! Reducing price is easy. Increasing it is costly.
For the fun of it...Keith
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Old 05-18-2008, 08:23 AM   #24
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A shop in the back yard is a unique feature to have, however, it's more like a hobby than a necessity. Just add whatever cost of the shop built to the house and go from there. Sometime it's extremely to let go of what you love, on the other hand, other people might see "what you love" as headache instead of treasure.

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Old 05-18-2008, 08:34 AM   #25
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Maybe I will get lucky and find a plumber, electrican, or etc., that works out of a service truck from his home. Or a serious hobbiest, who knows, certainly not me.

Yesterday I went to an auction. The place was up for sale too. I was the third one to make an offer, and each offer was the asking price without dickering. I called the realtor and made an offer shortly after stopping. I'd say that place was underpriced by about 75K. It included 85 acres, two houses and two shops, a large barn in good condition and was fenced and cross fenced. In an area where bare land in 5 acre lots goes for about 10K per acre, this was priced at 305K. The land in larger parcels generally goes for about 5K per. A medium sized piece like this should have been about 6K per. The realtor did these people no favors.
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