Hot Property
“Home needs some cleaning, painting and small repairs. Nice neighborhood and backyard.”
–Agent Remarks; MLS
Does a “For Sale” home’s condition matter?
The short answer: yes — but price matters even more.
Exhbit A
Witness this 3 Bedroom/2 Bath Bloomington rambler, listed last week for $130,000.
That compares with a 2011 tax assessed value of $205,700.
The home had 41(!) showings in only six days of market time — and the owner is weighing multiple offers now (note: the average Twin Cities home sells after 3-4 months and approximately 15 showings).
Bank Veto
That Buyer frenzy was even though the home is a short sale, i.e., once the Seller and Buyer agree to terms, the deal will happen only if the bank(s) holding the mortgage(s) agree to take a haircut.
Edna Herlitz and Alexander Bauer, in Edina Realty’s City Lakes office, are representing the Seller.
