Thoughts about a house

[cute fuzzy bunny]

So, we still have to get everything signed-around, but it looks like we sold the place less than a week after putting it on the market.

Does that leave you any thoughts that you listed it too low?

 

[wabmester]

Does that leave you any thoughts that you listed it too low?

The real estate market isn't very efficient (especially our local market with almost no tract homes), so it's certainly possible that we sold too low.    It's just as possible that the buyer paid too much.    But, based on what I know (comps, land value, cost to build from scratch), I think we got a fair price.    Almost all of the interest came from California and Boston, so I'm sure the place seemed like a bargain given their local comps.

As far as emotions go, we're sad to see it go, but relieved to move on.    We moved out over a year ago after we gravitated to another house we purchased for investment.   So, it was that gravitational pull that we accepted as a deciding factor in selling the place.

Basically, we traded a great house with an OK view for an OK house with a great view.    This is our consolation prize:

 

[Brat]

Congratulations on a full price offer in such a short time.

I haven't seen a bidding frenzy in the NW.  On one hand it is important that potential buyers have a chance to see it, but no one likes to be in a meat market.  It is important to know comps so that it is priced right for that reason. 

My daughter got in a bidding war in the South Bay last week on a great house.  In her area home prices are impacted by stock options, not salaries, so for many a mortgage isn't a big issue.  She isn't buying with Google options, so couldn't compete. 

 

[wabmester]

She isn't buying with Google options, so couldn't compete. 

I miss the days of old when Microsoft millionaires and local dot-com optionaires would bid stuff up. But Microsoft options have been worthless for five years now. Maybe they'll come back after Vista ships.

 

[gtmeouttahere]

Basically, we traded a great house with an OK view for an OK house with a great view.    This is our consolation prize:

Where are you from?  Can't be far from me.  I live in the Keyport/Poulsbo area.  All I know is I've seen that view before.  I'm guessing Bainbridge Island.

 

[Outtahere]

Congratulations on the quick sale, I'm sure you're sad to see it go, I would be too.

 

[KB]

Congratulations on the quick sale, and the house going to good people.

 

[wabmester]

Where are you from?  Can't be far from me.  I live in the Keyport/Poulsbo area.  All I know is I've seen that view before.  I'm guessing Bainbridge Island.

Good guess, my fellow Kitsapian. This board has a bunch of people from both sides of the Sound. Must be something in the water than makes us want to retire early.