Quote:
Originally Posted by jazzman
Yup, the lattice palace we call it... No septic system and it's priced like it has one. Alton island sales pretty closely track the town's appraised value right now (actually the only sales so far this year have been under appraised value). This one is way off the curve. Too bad because we like the decks, the southern exposure and the house is nicely done. Verizon internet access was a little dicey there though.
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It's probably worth the $315k asking price with the septic installed.
The people a couple of houses up from us recently bought at over that amount, and the house needed a TON of work - really, lots of work. Otherwise though, the lot is good and the key factor - the septic - is new and installed. I think the property was priced appropriately and the folks got a very reasonable deal in my opinion.
Another house a few up from us sold for $450k last year (or thereabouts), but the house is really beautiful and very well done and didn't need a thing. Again, the septic was new and already installed.
These are some of the comps that can help determine the selling price.
If I were making an offer on the "Lattice Palace" (I like the name!), I'd probably go in the higher 200s, keeping in mind the cost of installing a proper septic system. If it had the septic already in place, as you said, the $315 would definitely be in line with other properties which have sold, and are not far from this one, and recently.
I'm guessing you made such an offer ($270k, maybe?) and it was rejected...
The place has been for sale for a while (at least 2 years, I believe), so one would think they would be more willing to be reasonable.