It’s finally time for a new round of “Guess the Price.” Here’s how the game works. I’ll describe a home that’s currently on the market, giving you as many pros and cons as I can, and you guess what the final sale price will be when/if it sells.
Be sure to enter your real email address into the form when you leave your guess in the comments, because the winner gets a $25 gift card to the restaurant chain of their choosing. Don’t worry, I’m the only one that can see the emails that are entered. The winner is the person whose guess is closest to the final sale price, above or below. If there is a tie, whoever guessed closer to the correct closing date will be declared the winner. Contest closes to entries at midnight the morning of March 17th, or when the home goes pending, whichever comes first.
Today’s “Guess the Price” guest star is 304 NW 74th Street in Seattle’s Phinney Ridge neighborhood.
This round’s home hit the market yesterday with an asking price of $439,950. This is not the first time it has been for sale recently—it was originally listed on October 2, went pending on October 9, but was delisted on October 12. It was relisted on October 29, had a price drop on November 12, went pending again on November 17, but was delisted again on November 28.
The home is neither bank-owned nor a short sale. It is positioned in the northern portion of Seattle’s Phinney Ridge neighborhood, where the median price of single-family homes sold in January was $456,000.
Built in 1912, this 1.5-story home (with basement) sports 5 bedrooms, two full bathrooms, and one three-quarter bathroom. The main floor and the basement each have two bedrooms, while the upper floor has the master suite. The three-quarter bathroom is in the basement. 2,070 of the home’s square feet are above ground, with an additional 540 in the basement.
The exterior of the home looks to have been painted relatively recently. The yard seems reasonably well-manicured. Off the alley in the back there is a small “detached storage shed/small garage” that looks like it would fit one car.
Inside, the paint job looks somewhat new, with simple beige walls and white trim throughout most of the home. The hardwood floors on the main level appear to be in good condition, as does the carpet on the second level. According to a Redfin Tour Insight, the second story is a “converted attic space.” The listing describes it as a “top floor master with office and ensuite bath,” and from the photos you can see that the ceiling height is somewhat short.
The kitchen is relatively plain, with tiled countertops and somewhat dated cabinets. The appliances look decent, though not very fancy, and the dishwasher appears to be rather small. Counter space is also limited.
There’s little yard to speak of on the 3,000 square foot lot, with just a small patch of grass in the front and the back mostly taken up with paved parking for two or three cars.
The basement sports the home’s only fireplace and a second kitchen all in one open room. From the photograph at left, the three-quarter bathroom appears to be somewhat awkwardly located, up half a flight of stairs.
Overall, this home looks like it has been nicely maintained and updated throughout the years. It appears to be priced well for its location, size, and condition, although one does wonder why it has fallen out of pending twice recently. With the ongoing inventory shortage this year (there are just 8 houses for sale in all of Phinney Ridge right now), now may be the time for the sellers of this home to finally close the deal.
Summary of 304 NW 74th St.
- desireable location
- nicely updated historic home
- off-street parking
- detached garage / shed
- tall ceilings on main level
- dated kitchen, small dishwasher
- limited counter space
- short ceilings upstairs
- basement is “non-conforming” (i.e. no egress)
So, what say you? How much will this home sell for, and when will it sell?
[Update – 2013/03/01 @ 4:00 PM]
This contest is already closed to entries, as the home went pending just 10 minutes ago!