Trying to sell since 2017?! What’s wrong?

[Anonymous]

Anonymous wrote:I just can’t figure out why the current owners didn’t tear down and rebuild when they bought the place. A new, proper McCraftsman, even on a busy street, would fetch at least $1.4 in this neighborhood. Instead they dumped money into putting lipstick on this pig.

Because they bought it from the bank in 2017 for ~$890K and to do a tear down and rebuild would have cost at least $1M. And then they can't sell it for $1.9M (and that would be with no profit). The guy who bought this house in 2017 is a Middle Eastern-ish kinda guy and it shows in the way they fixed up the place and their choice in finishes.

And they put it on the market for $2.2M initially and here we are...at $1.35M, and in my opinion, it is still overpriced.

See, that's the thing. You wanna be a "real estate developer"? Put emotions and your personal viewpoints aside and build the generic grey box. It'll sell. This guy renovated it based on what he likes, and here we are 4 years later and it's not selling.