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up-down-up: thoughts on this house?

pumpkinpumpkin
edited October 2007 in Seattle Real Estate
Hi everyone- so I thought it wise to take a look at our target area without price limits, hopefully to renew my big-view of the Greenlake/Wallingford area, and I noticed this listing:

MLS #: 26182627

Ziprealty has three price changes noted:

Price Increased: 12/26/06 -- $895,000 to $915,000
Price Reduced: 02/12/07 -- $915,000 to $895,000
Price Increased: 06/17/07 -- $895,000 to $985,000 :shock:

They bought the house (or just the property since the build date is 98 ) for $176K in 92.

So what are your thoughts on the strange pricing fluctuations? I'm not interested in the house - I max out at $650K (not that I want to pay that, mind you). This is really out of curiousity -- enquiring minds wanna know! :P

Comments

  • EconEEconE
    well...as close as my crystal ball will tell me...it looks as if they would be happy with 895k...probably would have been happy with less also. So...raise the price almost 100k...let some buyer think that he/she is getting a great deal when the offer is accepted at 100k below asking...owner makes out like a bandit.

    There are good deals and there are "perceived" good deals. Kind of like a retailer doubling the price and then having a 50% off sale.

    Just my wild guess.

    Why don't you stop by the house and ask? :lol:
  • georgegeorge
    Did they have the same realtor this entire time?
  • pumpkinpumpkin
    Hi George- I don't know, I'm not a realtor, so I don't have access to info realtors have. I would suspect it's the same realtor since the MLS listing has not been "renewed" -- looks like it's been on the market with this MLS # since 11/06/06. Everything I know about it is what ziprealty reveals. I love ziprealty now -- thanks to whoever it was who recommended it a few months ago on the blog. I feel so much better prepared for buying than I was in 2004 the first time we bought. Luckily we got out of that house last summer unscathed (tried commuting from Kitsap co, yuck!).

    Again, I'm just very curious as to why a seller/agent would make these price changes, especially if it's been on the market for so long.
  • deejayohdeejayoh
    Two pieces of data 1) on the market 348 days. 2) listed with "Task Properties Inc." - that's probably all you need to know.

    I've seen the type before. Here's my bet:
    - Built the house for themselves, Probably did half of the finish work themselves.
    - Probably did not do quality job on same, but that is another issue...
    - maybe wife wants to sell, husband doesn't, or vice versa

    Solution: Find a 3rd tier realty company that will take any listing (especially one like this from lake stevens that probably doesn't know the market), price the property insanely - and if you even get a whiff, jack the price up, cuz you must have underpriced it!

    Edit: Oh, I missed this gem - just adds to my theory!
    Quiet Street 3 blocks to Green Lake & Woodland pk. New Craftsman style house nearly finished 4500 sqre ft Full light open floor plan 9.5 foot 1st floor ceilings, 5500 sqft lot, 15 rooms, 4bed. 3 large baths, Maplecabs in kitch graniteslabs, wolfstove 60 windows, radiators+radiant . Eastcoast wide plank cherry wood floor 2000sq ft. 40ft gallery 17vault ceilings 2nd floor, 6skylights, large 2nd floor deck. secure syst, too many extras, offerd at 25% below appr. by appt only call 11am to 1pm m-fri
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