Pricing Your Property Too High – Sellers’ Slippery Slope…

If you think that pricing your home over the market, in the hopes of catching the big one – forget it – it’s like salmon swimming upstream.

If you haven’t read the memo, or your realtor just takes orders, you should know that buyers want a value, or they just want to move in. They are not settling for anything less. If it’s not relevant inside, the price will have to be attractive…with a few cheap fixes, you’ll get better photography, more showings, and at lest the odds will stack up a bit better for the seller.

TO SEE THE FULL LISTING CLICK HERE:

http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=86612&display_page=1&lpp=20&index=1&total_listings=1&from=results

Take 27 Khakum Wood Rd – lovely location, with prices that support the asking price – just got a million dollar reduction. Starting at $5,900,000 in April 2013, it sat at this price for 6 months. The biggest problem with this house as I remember, is that the floor plan is not ideal…the kitchen if I remember is off to the left  –  on the other side of the stairway – and it’s a small space…..so you’re looking at a major renovation without even going upstairs, or having to remove wallpaper everywhere….then upstairs is typical of many older homes, with small bedrooms. In this case the master is a suite, but not in the scale that buyers expect at this price.

27 Khakum Wood Rear
27 Khakum Wood Rd – Reduced $1M – Now $4.6M

As handsome as the exterior is, and as lovely as the lot is (oversized in RA2)…I predict that this will sell for something closer to $4m even slightly under that. Buyers are factoring in the cost of renovation when making an offer…with consideration of course to the location. If it had started closer to $4,595,000, it perhaps could have fetched $4.3. As you can see from the interior, every room tells a story, albeit an old one…

27 Khakum Wood Entrance
27 Khakum Wood Entrance
27 Khakum Wood Liivng
Living Area – This Would be the Perfect Room to Feature Comfortable Tonal Furniture
27 Khakum Kitchen
A Stretch at the Original Asking Price of $5,900,000
27 Khakum Bedroom
Get Rid of ANYTHING Floral – Wall to Wall unless its natural…
27 Khakum Wood Dining
Modern Chairs Surrounding this Table – Get rid of All the Little Pieces
27 Khakum Whatever Room
Too Much Furniture Makes a Room Look Small
27 Khakum Master
Get Rid of the Flowers – Swags, Canopy, Wallpaper Border – Again too Much Furniture – Clear the Mantle
27 Khakum Bedroom 3
Clear the Radiator Covers – The Images are too Large for the Wall Scale – Makes the Room Look Even Smaller than it is.
27 Khakum Bedroom 2
Again – the Floral on Floral, reads Old on Old….Clear the Collections from the Dresser. and Old Electronics Date a House….that TV in the corner…

 

 

 

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.