I may need some help here.
Yesterday, I showed a listing that is the biggest kid on the block, meaning, it's not only much bigger and sitting on a bigger lot than anything else in the neighborhood, but it's also unique and has features few of the homes around it share. It's surrounded by National park land, was designed by a well-known architect, has an indoor pool and a bunch of other things. Yet it fits very well into the landscape.
The list price is about two and a half times that of last year's average sales price in the neighborhood.
Make no mistake--the price is justified by the trend of the neighborhood's values, by the neighborhood's typical sale price-to-tax assessment ratio, by relative (to the location) comparison to other unique and striking houses in the surrounding areas. We have approached this in every possible way and have come up with a price that objectively makes sense.
But--it's still more expensive than anything else that has sold here, and it always has been (at least for the previous two times it was on the market).
How much do buyers really care about that? Or do they? If they love the house and the location, how many of your clients would be bothered by the fact that, to approach their home, they will have to pass a bunch of more moderate and, perhaps, boring places?? How many of them who might love it will never consider looking at it for that reason?
Opening the floor.
© 2012, Catarina Bannier