Reply to Why is this Lyon Park home not selling?

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[quote=Anonymous][quote=Anonymous]The answer to "Why is this XXX home not selling" is almost always the same...priced too high.

In this case, if you look and the list of similar homes both listings and sold, it is the highest priced home (and only median on square footage) and has by far the highest cost/sq ft.  Yes, it has some nice renovation and interior work, but not enough to justify that much of an upcharge.  The owners are clearly trying to recoup the cost of all of that renovation and trying to make a profit when the market really won't bear that.   Plus, if you are going to charge that much, the entire house needs to be updated and the one 1950's pink and blue bath should be done, and it should have updated light fixtures and frankly, light covers.  The  upstairs uncovered lights make it look like they cut corners before the renovations were finished or they ran out of money.  Plus they haven't taken care of the outside very well, between the dirt on the side where the grass just died and the yard of weeds in the front and back and the poorly cared for landscaping means that buyers will need to put money into the house afterwards to get all these things done besides just personalizing like paint, etc.  If you are buying the most expensive property in the neighborhood, you shouldn't have this much work left to be done on the property.  The sellers need a hard dose of reality.  Frankly, I would expect it to sell for about $50K less than listing and they should not be surprised to get offers starting with a 7 rather than an 8.[/quote]

I wish the sellers could read this- great assessment!  They'd start getting offers, I bet, if they priced it at $789k.[/quote]

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