I have good news for Shandon Neighborhood homeowners! At 3:00 Monday afternoon 3405 Yale Avenue closed for $320,000. The house is 1,453 square feet with 3 bedrooms and 2 baths. What’s the big whoop? Well, if you do some quick math, the property closed for $220.23/foot, and that’s a thing.
Further, the listing fetched four offers in about five/six hours time, two of which were over original asking price.
Am I asking, or do we deserve credit for this? That’s not what I’m getting at. Sure, we provide good photos, supplied tact and finesse during the deal, and had the guts to go for it. That said, some of the credit goes to the current real estate marketplace, but most of the credit goes to the seller. The house is sharp.
Now, TO BE CLEAR, not every Shandon home will fetch such a number. Why, then, is this a big whoop for the neighborhood? Answer; Beginning Monday, 6/25/18, every listing that fetches an offer/contract within a like price range or similar features will be able to use this sale as a comparable sale. In short, for 12 months appraisers will be able to use this “comp” to help other sales.
Some folks get on to me for listing a house for too much money. Insert the theory of, “If you don’t try to raise the bar, then how can home values ever rise?” Translation – I’m not scared to ‘go for it’ (and neither was this seller).
Congratulations to the buyer, our seller, and Shandon Neighborhood.
If you or anyone you know would like to know more about Shandon or other Downtown Columbia real estate values, please call 803-447-8683 or email Franklin@TheNeighborhoodRE.com. We would love to be in contact with you!
Remember, Don’t buy the house; Buy the neighborhood. (Proverb)
Thank you!
Franklin Jones – The Neighborhood Co.
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