SOLD UPDATE: This property was sold quickly because of the reason of how we positioned it. Most houses that go under contract in the first 1-2 weeks, typically have many showings.
This one had 4 total in 2 weeks….
So what did we do? Original list price was $409,900. This was done on purpose. The way people search online is done in $25,000-$50,000 increments. This means that ALL buyers and Realtors who were searching up to $400,000 were missing our listing on their radars. When we list properties we do so with an EXIT strategy in mind. We knew if we didn’t get enough traction early on that we would reposition price to $399,900 if initial traction should not be enough.
You might want to read this article here:
Repositioning your listing is a way to kick it in the butt if initial price offering is not gaining enough traction.
So here’s what happened here…
We were going to reduce price to $399,900 when one of our four showings indicated that they had interest. I was able to negotiate from a position of leverage letting the other side know that if I reduced price they would be most likely facing a multiple offer situation etc…
That motivated the potential buyer to put in an strong offer where we ended up with a sales price of $395,000. The main lesson to learn here is that the market will always tell you what it’s going to do. You just need to listen to it and make adjustments. I knew well enough we had to reduce price, but I also knew that I was able to leverage our position to getting near a full price offer.
At the end of the day my clients were very happy and we also helped them buy a house simultaneously in a seamless transaction. If you are in the position of buying and selling a house at the same time you may want to check this out.
We are marketers and real estate is what we market. Who do you want to hire? Please share with your friends and family!
Welcome to America’s hottest neighborhood, the Ukranian Village. If you are looking for that rooftop deck, I think you found it. A very rare and in high demand penthouse unit with a HUGE private rooftop deck with interior access for additional summer entertaining. Unit in true move in condition with all the upgrades(see pictures and video). Looking for a large open floor plan that’s upgraded with room with separate dining room table? You’ll love the crown molding and dark mocha colored hardwood floors throughout and both baths fully upgraded with a separate shower/tub and double vanity in the master bathroom. Both bedrooms are LARGE and functional (none of that 2nd bedroom den size going on here). Master bedroom also features a LARGE walk in closet. Additional deck off the back entrance in addition to the huge rooftop deck that features gorgeous skyline views of downtown. Just 3-4 blocks east and this unit would sell near $500,000. Save the money and walk there instead. Unit comes with a parking spot, but plenty of street parking in case you have second car or like having guests over to entertain on your rooftop. Need storage? The upper level has a LARGE built out storage room for all your extras! If you need public transportation catch the bus on Chicago or Western to get you to and from work. These don’t last long so hurry if you are looking for that roof top deck!
From The Seller:
“It was a family based community that was friendly and felt very safe. It was close enough to all the great restaurants on division where we could walk with our dog and baby, but far enough to not deal with all the commotion. Easy parking for visitors. And the most amazing thing was the private rooftop – like having your own little getaway with the amazing view of the city ”
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|Address:||2427 W. Rice, #3|