How can you ask $166/sq ft for this home in the condition it's in?

Asked by Dgha, Germantown, MD Mon Oct 27, 2008

Your neighborhood would appreciate you cleaning up this property and lowering your price/sq ft to a reasonable number so you can sell it. It has become a real eyesore for Dogwood Grove and Germantown. Thank you for your attention to this matter.
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Suzanne White, Agent, Memphis, TN
Sun Dec 14, 2008

In case you had not become aware yet, this home is in preforeclosure and according to the Memphis Daily News is scheduled to be auctioned :

Sale at public auction will be on January 2, 2009 at 11:00 a.m. Central Standard Time, at the southwest door, the Adams Street entrance of the Shelby County Courthouse, Memphis, Tennessee pursuant to Deed of Trust.

I guess this answers your concerns about why it was not being kept up to the neighborhood standards.
1 vote
Bill Eckler, Agent, Venice, FL
Tue Dec 30, 2008

Can't disagree with your point.....but, do you have an active home owner's association? This may be the best avenue to find a long term solution. Our recommendation is to include this general topic on the agenda for the next HOA meeting.
0 votes
Grace Uhlhorn, Agent, Memphis, TN
Tue Dec 30, 2008
Updates done in the kitchen - plus the large lot - and maybe the listing agent is giving some room for negotiation or allowing for closing costs. This is a great neighborhood though.
0 votes
Scott Godzyk, Agent, Manchester, NH
Mon Oct 27, 2008
i do agree that a cleaned up house is more appealing than a rundown property. the seller may not be in a position finacially to see any less as most home owners now owe more than the house is worth. either way it is no excuse for not cleaning up the property, contact your local building department to do an inspection for any violations. good luck
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0 votes
Jo Shaner, Agent, Memphis, TN
Mon Oct 27, 2008
Hello Dgha,

I personally have not been inside this home, however, the tax assessor believes it to be worth 1.1 mil. Not every price is solely based upon square footage either - a trailer has square footage. Germantown's dirt does command more dollars than most areas, then you take into consideration things like oversized lot or a corner lot, a inground pool, 4 car get the picture - things that don't show up in sqaure footage.

From what you say about it being an eyesore, more than likely the owners have already moved out. It has not been foreclosed on from my quick check, so hopefully this is only a temporal thing. If it really gets up down, call the City of Germantown and they will crack the whip on getting it cleaned up.

Best of luck,

Jo Shaner
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0 votes
Josh Schless…, , 23456
Mon Oct 27, 2008
Your right Dgha, the owners would do much better with a clean and show ready home. It would help justify their price and ultimately make it more showable which equates to sellable.
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