A few days ago, I wrote a post about a house in Ortega on Longfellow Street that sold in a day — well, 21 days to be exact, and in this market, that certainly feels like a day! Sales that happen that fast are few and far between.
This morning, I found another house that went under contract almost immediately (21 days) after being listed. Located at 1252 Windsor Place, this is a 1927 renovated home with a pool at the end of a quiet cul de sac in Avondale. It has 3BR, 2.5BA in about 2,600 square feet. Designed by Marsh and Saxelbye, this home features mediterrean architecture with a new tile roof and detached two car garage with bonus room above garage. The list price was $499K and was priced at about $191 per square foot. As soon as it closes, I’ll write a post to let you know what the selling price was.
I emailed this house the day it was listed to a customer who’s looking in the Avondale area but since they have a home to sell, they weren’t in a position to secure this great deal.
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My former neighbor in Coral Gables, FL was an older British gentleman who loved to come over and talk real estate. “What’s my house worth today,” he would chuckle as I opened the front door to let him in. That was, of course, back in the days when house prices were going up almost daily.
I suppose if I were to greet him at the door today, he might still say “what’s my house worth today,” but probably with more of a grimace than a chuckle. Actually, knowing Patrick, he wouldn’t have grimaced and I can tell you why.
Over the course of the eight years that we lived next door to each other, we had many of these conversations but one thing that Patrick said still rings in my ears today. It was one of those “pearls of wisdom” that perhaps we should all consider embracing.
Patrick said, “when we were coming along, we were THRILLED if we sold our house at the end of our mortgage term for the same price that we paid for it — that meant that we had essentially lived in our houses for FREE. At the end of our mortgages, we got our money back”!
We might all be well served to stop obsessing about the values of our homes (unless you NEED to sell which is another story altogether) and hope that by the end of our mortgage term we’ll sell our homes for what we paid for them. I kind of like that idea — what about you?
Thanks for reading – I hope you’ll join me for my next real estate adventure!