We had listed my house (on NE 10th) for $240,000, and sold it five days later for $281,000. I was shocked. The roof was shot, the single-paned windows leaked every ounce of heat that the old oil furnace provided, and the interior was in need of a new paint job. The buyers had great plans; to sub-divide the large lot, and build a 2-story home next door.
My mom called me today to say that they drove by my old house, and it’s for sale. It had sold for $281K — it’s now on the market for $196K. Realistically, it’s probably worth $120K.
They chopped down all of the large trees on the lot, and tore down the attached carport and studio apartment in the back (to make room for the new house). Grandiose plans that erupted into a $100,000+ loss… if she’s able to sell it, that is.
This is truly a reality check for us.