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Tull Realty Group's Blog

By Vicki Tull | Agent in Rehoboth Beach, DE

Anatomy of a Sale

Anatomy of a Sale

 

There are two consistent questions we are regularly asked:  “How’s the market?” and “What does it take to get a home sold today?”  Regular readers of this newsletter know we have begun to answer the first question by looking at the statistics.  The answer to the second question is not simple.  Many times the key to selling a home is asking the right price.  But, it can also
be condition, location and other factors. 

 

We thought we would take a look at a few recent transactions to see what we might discover.

 

 

1. Properties that are hard-to-show are hard-to-sell.  Take for example the recent sale on Fleming Circle which sold for $340,000.  It was originally
purchased as a second home and then converted into a yearly rental in 2007.  With four bedrooms, three and one-half baths, a first floor master, lots of upgrades and a close-to-beach location, we thought it would go quickly.

 

However, the tenants were not always co-operative about showings.  The house wasn’t always in “showing” condition.  It’s difficult to say how many prospective buyers did not get in.  In addition, there was a legal action against the builder, and that didn’t help (but it did get cleared up and dropped).

 

So after losing potential showings and with time marching on, the owners—now more motivated than ever—dropped the price to reflect all this.  An offer came in and the sale closed almost as the tenants were moving out.

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