I have good news for King’s Grant sellers and/or potential sellers, and many other Downtown Columbia homeowners for that matter. At 2:30ish Monday afternoon 14 Foot Point closed for $1,000,000. The house is 4,516 square feet with 4 bedrooms and 4.5 baths. What’s the good news? The property closed for $221.43/foot, and that’s a thing.
Am I typing about it for a medal? Shoot no. Sure, we try hard, supplied some good finesse, and had the guts to go for it, but location and school popularity notwithstanding, the real credit goes to the homeowners. The seller picked an amazing floor plan, and didn’t spare on awesomeness. Premium and/or custom stuff all the way.
Now, TO BE CLEAR, don’t whip out your calculator app and start multiplying, as not every King’s Grant home will fetch such a number. Why, then, is this a big whoop for the neighborhood? Answer; As of a few days ago, 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 (adjusted accordingly). In short, for 12 months appraisers will be able to use this comp (comparable sale) to help other sales along. I’ve already had two appraisers call, and one Realtor.
Here’s another reason for the post. Some folks get on to me for listing a house for too much money. Well, (and this isn’t the case for 14 Foot Point) some homeowners bought during the boom, and as their life moves along, don’t have a choice but to go for a bar raising number. 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). Well, here is an example of going for it that is now sold & closed, and others can use it accordingly, including refinancing opportunities.
The last time we raised the seven figure/foot bar was on Radcliffe, in the Greenbriar neighborhood.
Congratulations to the buyer, the seller, and King’s Grant. This may be a record for the neighborhood. The only other house I can think of that fetched this was a property on Cotton Hope that was actually two finished homes (Main house & complete pool house/cottage).
If you or anyone you know would like to know more about what’s happening with Downtown Columbia real estate values, please call 803-447-8683 or email franklin.company@gmail.com . We would love to speak with you.
Thank you!
Franklin Jones
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