Expensive semi detached homes

[Anonymous]

Can you explain why there is such a price difference between these houses? Size is a factor, but does it justify the huge price increase?

Thanks

https://redf.in/4NRMcA

https://redf.in/3MKJh5

https://redf.in/rZkyws

[Anonymous]

Locations

[Anonymous]

The one on Porter Street is really cute, but I don't see the appeal of living on such a busy (albeit cute) street. I believe it's got city buses going down the street, and the houses are close to the street.

[Anonymous]

Anonymous wrote:Locations

They are in the same small neighborhood

[Anonymous]

Anonymous wrote:The one on Porter Street is really cute, but I don't see the appeal of living on such a busy (albeit cute) street. I believe it's got city buses going down the street, and the houses are close to the street.

But does it justify the huge price disparity?

[Anonymous]

The most expensive house is almost 2x bigger than the least expensive and considerably bigger than the mid-priced house.

But a big issue is the fact that the least expensive house has only 2 BRs. That's a big problem for many buyers. (Why in the world would you renovate an almost 2k sqft house down to only 2BR? Madness.)

[Anonymous]

The middle listing shows what a difference non-professional photos make. They doing that house an injustice if those are the marketing photos

[Anonymous]

Well, the first one was priced right (which is why it’s already pending).

The second one is overpriced. They bought it for $1.4 in 2021 and think it’s worth $1.925 now? One factor is they do appear to have proof of Airbnb income from renting the basement.

The third is nice but significantly overpriced having price drops with no buyer yet.

[Anonymous]

Anonymous wrote:The middle listing shows what a difference non-professional photos make. They doing that house an injustice if those are the marketing photos

Since that listing is still “Coming Soon” I imagine those are temporary pictures that’ll be replaced when the listing goes active.

Still, it’s a bad look for a house they’re asking almost $2 million for. If the pro photos aren’t ready, you submit one or two good exterior photos for the Coming Soon status and leave it at that.

[Anonymous]

Anonymous wrote:The most expensive house is almost 2x bigger than the least expensive and considerably bigger than the mid-priced house.

But a big issue is the fact that the least expensive house has only 2 BRs. That's a big problem for many buyers. (Why in the world would you renovate an almost 2k sqft house down to only 2BR? Madness.)

Why though? Why are 3 small bedroom better than two large ones?

[Anonymous]

Anonymous wrote:A big issue is the fact that the least expensive house has only 2 BRs. That's a big problem for many buyers. (Why in the world would you renovate an almost 2k sqft house down to only 2BR? Madness.)

Didn’t seem to be a big issue at all as it’s already under contract.

Plenty of buyers in that neighborhood who are DINKs, only one child, or kids are grown, and they may enjoy larger bedrooms and spacious closets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The most expensive house is almost 2x bigger than the least expensive and considerably bigger than the mid-priced house.

But a big issue is the fact that the least expensive house has only 2 BRs. That's a big problem for many buyers. (Why in the world would you renovate an almost 2k sqft house down to only 2BR? Madness.)

Why though? Why are 3 small bedroom better than two large ones?

Because parents don’t want their kids to share a room. And couples can want separate offices. And people like having guest rooms. The market for a 2-BR house is much smaller than a 3-BR house.

[Anonymous]

Anonymous wrote:Well, the first one was priced right (which is why it’s already pending).

The second one is overpriced. They bought it for $1.4 in 2021 and think it’s worth $1.925 now? One factor is they do appear to have proof of Airbnb income from renting the basement.

The third is nice but significantly overpriced having price drops with no buyer yet.

Agree - that neighborhood has marched steadily upward, but I would think $1.75-$1.8M is more realistic (~25% increase). It may have an AirBnB history now, but I don't any improvements (even the rental basement looks the same). This will sit at $1.9M+.

[Anonymous]

The 3 mil one is beautiful, but I doubt it will see for more than 2.5. There are other detached homes in the neighborhood for less than that.

[Anonymous]

The lands are also smallish especially for the 1.9 mil one