Selling this home a block north of Westheimer in Royden Oaks has been a long slog — and it’s not over yet! Longtime Swamplot readers will recognize the hulking 4,303 sq. ft. stucco mansion, sitting patiently like a lion with garage-apartment paws, from its Neighborhood Guessing Game appearance last June. (Well, at least the reader who won a steak dinner off of it will.) By that time, the property had been on the market for 4 months, and wasn’t budging from its 1,495,000 asking price.
But it’s done some budging since. By January of this year, the 3-bedroom, 4-1/2 bath 1987 property was up with a new listing — for $1,449,000. And just last weekend, there was a bigger price cut:
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It’s down to $1.35 million now. Does that sound any better?
- 3710 Wickersham Ln. [HAR]
- Neighborhood Guessing Game Over: The Full Pave [Swamplot]
From $1.5 million to $1.35 million is a 10% reduction. Might look good to the listing agent. And the seller. But either someone really wants what is really just a “plain vanilla” house or they don’t. But you never know. Fools and their money do part company.
Almost everything over $1 million at this point is relatively overpriced. In Los Angeles, it has been everything over $10 million. The sellers in Los Angeles finally realized there aren’t that many fools. Same thing in New York. Although they don’t reduce things in New York. They just don’t always reveal what the sales price was.
Generalize much there, Matt? Everything over a $1,000,000 is overpriced right now?
The Houston MLS lists 68 closed single family home sales over $1,000,000 in the month of April 2010 alone. Plus two townhouses and one condo sold for over $1,000,000 in same month.
The Houston MLS lists 68 closed single family home sales over $1,000,000 in the month of April 2010 alone. Plus two townhouses and one condo sold for over $1,000,000 in same month.
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What were they listed for? And what were they worth a year ago, two years ago?
That aside, well, I didn’t say there weren’t fools about. Some may have gotten good deals. Some may not have.