Our nearest neighbor has put his home on the market for the umpteenth time. He had a crew of realtors/photographers out to take pictures of his property the other day. They used a drone outside to take pictures from above. We were impressed by the affect when we checked his Zillow listing (which of course we did, because we’re nosy). We were also impressed by the new-fangled ways they have of photographing and mapping interior spaces. All the rooms of his house look so much bigger on the listing than they can realistically be. Perspective is an amazing thing!
But we laughed, as we always do, when we saw the interior of his house. He has done a lot of work, and kudos to him. But, our two houses had the same builder, so we recognize many of the things he hasn’t fixed. He’s got the same drafty windows we used to have, the same ill-fitting doors, the same ugly bathroom elements, the same beat-up baseboards, the same utterly inadequate roof supports in the great room. We’ve fixed a lot of these issues, so we know. In the aerial view, you can see how much the roof of the great room sags and how it looks like the wall is bowing out (and probably is). Why he hasn’t fixed the problems is beyond us. He’s had so much more time to do so.
This is at least the third time he has listed his property in the last four years. As someone who has sold property before, I understand how hard selling is. You’ve got to list your home higher than the price you want, but not so high that you turn off potential buyers. And if it doesn’t sell right away, you’ve got to lower your price, even if it hurts. The first offer you get is probably the best you’re going to get, so you’re better off just taking it, even if it’s not close to what you want.
He either did not get offers previously or he decided not to accept him. Unfortunately for him, his Zillow listing now counts against him big-time. Everyone can see how much he paid for the home, as well as how many times he’s listed it, and at what prices. It doesn’t do him any credit that he’s trying to sell for more than four times what he paid or that he listed it previously for less.
Personally, I do not think he’s made wise decisions. He’s paid property taxes for four years on a property he would have preferred to sell. If he’d just dropped his price and sold four years ago, I can nearly guarantee that he would have done better for himself. Now, with the threat of hyperinflation looming, I suspect he’d be better off owning property than having excess cash. I cannot say I hold his financial decisions in high esteem. But I am an admittedly no expert. I’ve made a lot of bad decisions myself.
We hope he sells this time around, though, and as close to the listing price as possible. First, it only does us good for his home to sell at a high price. It makes ours more valuable. Also, his home is large, suitable for a family with children, and if we could get next-door playmates for our children, we’d be thrilled
So good luck, neighbor. You’re going to need it!