Home Selling in 23703>Question Details

Angela, Home Seller in Portsmoth VA

What percentage of asking price are homes in 23703 selling for?

Asked by Angela, Portsmoth VA Sat Aug 11, 2007

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The difference in listing and selling price may differ by neighborhood and also by price range. You'll probably see a larger difference in higher price ranges. Foreclosure and short sale listings will also weight that difference.

In my opinion, how a home shows means alot in terms of market time and the gap in listed/selling price. If an owner has priced it right to begin with (which is a possibility) and it shows very well, it'll probably have a better record of selling to asking price.

It does depend on area, and I've seen home pricing to be much more competitive than in recent years. Incentives being offered will also greatly affect the gap (more incentives, usually means a smaller gap).

Good luck,
Mark Edwards, East West Realty
0 votes Thank Flag Link Sun Jan 29, 2012
Market Snapshot offers an ongoing answer to this question. This new technology provides an interactive map and extensive data on the asking prices of homes on the market and also the prices of recently sold homes in any neighborhood in Hampton Roads (except possibly for very newly constructed neighborhoods).

Go the http://www.SandySoldMyHouse.com and click on Market Snapshot (about 1/2 way down the home page) to learn more or to sign up to receive free email reports for as long as you desire -- and with no need to talk with an agent! However, if you want more information, just email of call the sponsoring agent.
0 votes Thank Flag Link Thu May 8, 2008
If it would be easier (since I think we are the only people in this question) you can email me directly at timothy.jenkins@nancychandler.com. Also, I was looking in that area for what has currently sold and, other than finding what I believe is your home, I can tell you what has sold in that area and what is currently selling and the prices they are listed for. You are larger than most of the others in that area so the numbers may be a bit skewed. Toss me an email while I keep looking and let me see what I can find for you.
0 votes Thank Flag Link Sat Aug 11, 2007
It can be either a 4 or 3 bedroom. We use it as a 4 bedroom. There are two baths. The downstairs bath has granite counter-tops and granite tile floors. The upstairs bathroom has marble tile floors. We just purchased a new outside and inside central air conditioning unit. We have also just replaced six of the windows with Anderson windows. Most of the floors have been replaced in the past six months. The backyard is also fenced in.
0 votes Thank Flag Link Sat Aug 11, 2007
Did your addition add an additional bedroom, bathroom, or expand the kitchen? How many bedrooms and bathrooms do you have?
0 votes Thank Flag Link Sat Aug 11, 2007
The subdivision is Nottingham. The only difference between my townhouse and the others in the subdivision is that it has an addition bringing the square footage up to 1820.
0 votes Thank Flag Link Sat Aug 11, 2007
Angela, I don't want to pry too much. What subdivision are you in? I'll run a search for that specific area so you'll know what your "competition" is, as well as know what roughly your home may be worth. If you want to give your actual address, it would make it that much easier, but I don't want to pretend that its the only way to get you the information you would like. :)
0 votes Thank Flag Link Sat Aug 11, 2007
Hi Angela,
Let me state that I am not in your area, so I cannot attest to your local market. Just saw your question, and wanted to point out what I think is a common misconception. You are wise to ask this question as a seller to be prepared for what a buyer's expectation will be. The media, and unfortunately many agents as well, have implanted such figures in their heads. "Homes selling for 10% off of list price!" The problem with such sweeping figures is that the basis for the assumption is that all list prices are created equal. There will be properly priced homes which sell much closer to list price, and not-so-well priced homes that will sell for substantially less. So while it is a good idea to have that data available when negotiating with a prospective buyer, be aware that the amount of negotiating you will ultimately have to do should be based on how your specific list price relates to the actual market value of your home. Not market averages. Best of luck getting it sold!
0 votes Thank Flag Link Sat Aug 11, 2007
Just that area. I am interested in selling my townhouse and was wondering how the market is doing.
0 votes Thank Flag Link Sat Aug 11, 2007
Interesting question. I'm looking at sales that closed in July in the 23703 zip and for the most part they are closing for slightly less than list price. What I can't see is what king of closing cost assistance was offered by the seller, if any. That affects what I consider to be the "Actual" sales price. In some cases the final sales price is higher than list. When that is the case than typically the buyer has incorporated closing costs into the sales price, thus artificially raising it. Is there a particular neighborhood you were wondering about, or just that area of Portsmouth?
0 votes Thank Flag Link Sat Aug 11, 2007
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