Renovated 1950’s Rambler by Cedar Lake Asking $825k(!)
[Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.]
No one would be happier than me if 2518 Joppa — new on the market yesterday — fetches its $825k (really) asking price: I’ve got numerous clients in the neighborhood, who’ll be delighted to learn that their homes just appreciated.
A lot.
But, here’s guessing that — as tight as inventory in high-demand Fern Hill is now — that price is just a tad aggressive for a 3BR rambler on a 1,558 square foot foundation with only a tandem garage (one stall in front of the other).
That’s true even though the home has recently undergone a gut renovation (to the studs).
Am I right?
Stay tuned . . .
P.S.: Some unsolicited advice to the owner: if you’re going to ask top dollar for your home, you may want to consider having it professionally photographed . . . or use a Realtor who will (the listing agent — at an unnamed, competing broker, as they say — appears to have skimped on that. Amount saved: < $250.).
See also, “The Fallacy of ‘Leaving Room to Negotiate’ (aka Overpricing)“; “Perils of Overpricing Even (Especially) in a Rising Market“; “Perils of Overpricing“; and “Nurse! I Need a Price Reduction, Stat!!“
