The $13,000 Phone Call

I was just leaving for lunch when my agent called me. She checked out some active listings in the area and she thinks I can get more than $167,000 for the place. She suggested $180,000. There are 3 active listings in the subdivision and, even at $180,000, mine would still be the lowest priced one. I was a bit concerned because, although I did do a lot to improve the place, the bathroom showers are still a bit, well, not the best. But one house in the neighborhood is a pending sale for slightly more than $180,000 and it is tenant occupied, so you can be sure that house isn't in the best of shape either. So what the heck! I told her to list it for $180,000! She thinks it'll sell fairly quickly too. That was a great phone call!

Of course, this leads me to reassess my valuation skills. I had seen some higher priced homes show up on the comps list, including one that sold for $225,000. Some had pools. I figured a pool added $20,000 to the price. My agent said it only adds about $10,000. A two car garage adds a bit (my property just has a 2 car carport) too, but not a huge amount. I think, in my mind, I had assumed the higher priced homes were in immaculate condition or had some other features that I couldn't tell from looking at the comp list. I guess I need to change my thinking a bit.