Also, her comps were on Shelby, Logan, and Oak near Jackson. I just didn't think that was right, at all. I live on Winter, between Baxter and Barret, so the homes aren't as expensive as some nearby areas in 40205 or even 40204 (e.g., Tyler Park or Cherokee Triangle), but it's not as low as Smoketown. I've seen houses in comparable or worse condition just north and south of me sell for $130-$170K, easily, in the last year. I wasn't expecting anything unrealistic, I didn't think.
One last thing, when pricing your home for sale, keep in mind that once you get a contract, it must appraise, if it doesn't, the whole transaction is in jeopardy of falling apart. I recommend you price your home a few thousand dollars above market value with the idea that you are going to negotiate the price down into the top end of the market value. If any, try to keep Buyers Closing Costs coverage to a minimum if possible.
carpet changed to laminate
linoleum to Tile
energy efficient insulation
sump pump installed(previous did not have one)
however my difference was a appasial to refinance compared to selling. I have heard that an apprasier will go on the low end for refinancing and high end when selling.
Not knowing your address or having seen the house, its impossible to give an accurate analysis. But here's what I did: I used zip 40205 for comps. Total living space between 1900 and 2500 sq ft. Sold in past 12 months. There are lots of ways to improve accuracy with more knowledge, but here is the very rough result:
Status Total Avg Price Avg $ per Sqft Median Low High Avg DOM
SLD 50 $212,290 $121.37 $216,000 $135,000 $258,900 40
Here is a list of all actives in the Highlands, in map form
Here is a map of all recent sales in the Highlands
These maps can be manipulated to deliver VERY accurate information. If you'd like me to walk you through the process, please feel free to call. 502-254-9600.
Best of luck.
Email me and I will send you some comps to use if you wish to dispute.
Look at these properties carefully when doing comparisons. Apples to apples.
RITA A. WALKER
REALTOR, ABR, GRI, SFR
ELINE REALTY COMPANY
111 S. HUBBARDS LANE
LOUISVILLE, KY 40207
The fact that a smaller property around the corner is listed at $144k really means nothing, since it hasn't sold. Once it's under contract the lender will have it appraised. At that time, the buyer and seller may be in for a big surprise, just like you have experienced. Unfortunately, the market has dropped considerably since 2008 and is just starting to recover. I suggest you visit my website/blog, as I've written numerous articles about what has happened since 2008. Visit http://homeslouisvilleky.com. Feel free to contact me with any questions! Rick