Immediately after the sign went up on this new listing we got a call. The agent hadn't even taken inside photos yet to put on the web site because the owners were packing up and moving out and boxes were everywhere.
It's over 4000 sq. ft. and a wonderful Lake Sinclair home on two lots.
A showing was scheduled.
An offer followed.
It was very low.
Now of course we'd done a CMA using recent sales. BUT, the owners knowing what the market is like had also hired a local appraisal firm to give them a current appraisal. So we went with a very close to appraised value listing price. $425,000.
And taking into consideration that the home is also being sold nearly completely furnished we feel it's listed near what it should bring.
The owners did counter the offer we received on the property.
The potential purchaser then sent us an email that said:
I bought my home in Somewhere Else, GA two years ago for $400,000 and now it's only worth $200,000. So I want to buy this home at the "current discounted proeprty price"
Our reply included a couple of things:
1.* Our sales price decrease on lake property was 4.4 % in 2007, 6.3% in 2008 and in 2009 mean sales prices are now higher than the same period last year or January of this year. So the time for falling prices on Lake Sinclair is NOT NOW!
2. Real estate price increases and declines are not the same in different locations. Our market has faired much better than national averages. I lost a lot more of my 401K than I did my home equity.
So if any other potential buyers would be interested in seeing this lovely home... here's a link to lots more information.
*Statisics from data in the Millegeville MLS.
706-485-9668 us on facebook
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Tammy Lankford, Broker/Owner
Broker License # 169695 Lane Realty License # H-11420
Call me today for all your Lake Sinclair real estate needs.
We always have water at lake sinclair Lake Sinclair stays full even during droughts. Click to read why and how.
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