Parkwyn Village ~ McCartney Residence for Sale

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Kalamazoo
Posts: 14
Joined: Sat Nov 21, 2009 9:07 am
Location: Kalamazoo and Battle Creek, Michigan

McCartney House

Post by Kalamazoo »

Two brief notes:

1) We are currently involved in negotiations for a sale on the home. Without violating any laws regarding disclosure I can only say that I believe members of this blog will be pleased.
2) I have not forgotten about my promise to post the pages of Ms. McCartney's booklet . . . hopefully that will happen in the next two weeks.
Paul McIntyre, Realtor - Jaqua Realtors, Portage, MI

peterm
Posts: 6290
Joined: Thu Mar 13, 2008 10:27 am
Location: Chicago, Il.---Oskaloosa, Ia.

Post by peterm »

Great news!

Kalamazoo
Posts: 14
Joined: Sat Nov 21, 2009 9:07 am
Location: Kalamazoo and Battle Creek, Michigan

Zillow's algorithm for figuring home values is inappropriate

Post by Kalamazoo »

In reviewing some of the comments I'm a little aghast that people are not aware of the foilables of Zillow. The biggest issue is that the algorithm simply pulls from a radius. In this case the McCartney house is in a small neighborhood. About 1/2 mile away is an area of very small, old homes that has a high turnover rate. When Zillow makes a "zestimate" for the Winchell neighborhood, it always pulls in comparables from Oakwood. If you feel that comparing a nicely finished, 2 story brick colonial with 2800 square feet, a full finished walkout basement, 2 car attached garage, 3/4 acre landscaped lot with coving and crown molding, oak flooring, 3 bathrooms and etc. to an 800 sq ft 2 bedroom bungalow with sloped floors, original windows and .12 acre lot makes sense, then listen to Zillow. Otherwise, leave the market analysis to people who do it for a living and know which homes to compare it to. (or if you'd like to use that bungalow as a point of comparison for a Wright home . .. well I'm not sure what you're thinking.).
Paul McIntyre, Realtor - Jaqua Realtors, Portage, MI

peterm
Posts: 6290
Joined: Thu Mar 13, 2008 10:27 am
Location: Chicago, Il.---Oskaloosa, Ia.

Post by peterm »

I think we all take Zillow with a grain of salt...

Paul Ringstrom
Posts: 4400
Joined: Sat Sep 17, 2005 4:53 pm
Location: Mason City, IA

Post by Paul Ringstrom »

I think it is safe to say that the houses the members of this Chat Board are interested in do not have "comparables".

No algorithm can properly value "architecture" as opposed to "shelter".


I would be interested to see statistics on the difference in the sale price vs. Zestimate tracking the same exact houses over a period of a year.

John
Posts: 418
Joined: Fri Mar 25, 2005 12:25 am
Location: Shoreview, MN

McCartney

Post by John »

jhealy wrote:classic form,

That is an interesting comparable. Zillow shows the Sheffield house was listed by the same brokerage company (Jaqua Realtors) that is listing McCartney. The house you point to on Sheffield sold in 15 days. Compare that to McCartney - still sitting after 2 years. Zillow also shows the house on Sheffield to have 2,600 square feet and an estimated "market" price of $214,000. Zillow shows McCartney to have an estimated "market" price of $148,000 with 1,670 square feet. Thus, the Sheffield house sold for 117% of the estimate. If you do the same with with McCartney, you'd get a comparable sale price at $173,000. In another comparison, if you do it on a price per square foot, the Sheffield house was $123/sf (assuming 2025 sf) or $96/sf (assuming 2600 sf), so McCartney, at 1,670 sf would be either $205,000 or $160,000.
To me, the asking price is $50,000 too much. If they priced it at $200,000, they would probably be getting some more offers. I can say that my interest would greatly increase at that point.

Just one man's analysis. But after two years on the market, when other homes in the area are clearly selling . . . As they say, the market speaks.

Jay

[/u]

The McCartney house is not overpriced. Have you priced other Wright houses? And this is in a neighborhood with other Wright houses.
On the other hand, I wouldn't want you to buy it and then rent it out until you retired. Not the "right" destiny for a Wright house.
And, most importantly, this house needs at least $200,000 of repair and upgrades in my opinion. That, I believe, is why it has not sold. I'd buy it in a minute if I lived nearby.
Incidently, I saw the house in person. Recently.
John

BBuck
Posts: 229
Joined: Thu Nov 13, 2008 6:48 pm
Location: Fort Worth

Post by BBuck »

I see my saved link to the McCartney home sale is no longer valid.

Kalamazoo, has a possible new owner stepped up? I do hope so.

My best-

BBuck

IndianaWright
Posts: 39
Joined: Thu Mar 05, 2009 12:06 pm

Post by IndianaWright »

I found the link to the home on the realtor's website:

http://www.jaquarealtors.com/p/14/12003 ... eLinks%3D6

Realtor.com shows that the house was listed on January 16, 2012. It looks like maybe it was taken off the market and then re-listed. I think this makes a listing look new, perhaps generating more interest. A house perhaps gains some stigma if sitting on the market too long. That's what I've been told by our real estate agent.

Maybe I'm wrong. Kalamazoo can correct me.

Paul Ringstrom
Posts: 4400
Joined: Sat Sep 17, 2005 4:53 pm
Location: Mason City, IA

Post by Paul Ringstrom »

I believe the issue is that the listing expired, so it now has a new listing number.

There is currently an offer on the home, however we are still in negotiations. If you are interested in taking a look and/or writing an offer, let me know and I'll be happy to assist you with both!

Best Regards,
Paul McIntyre <paul.is.my.realtor@gmail.com>
aka Kalamazoo

J Meyers
Posts: 1
Joined: Fri Feb 10, 2012 4:10 pm

McCartney house has found new owners

Post by J Meyers »

This afternoon, we became the newest stewards of the McCartney house. We have known and loved the house for years. We knew Ward and Helen, and can hang several of Helen's warercolors back on the walls.

More updates will follow, if you are interested. Careful, historically-accurate restoration will commence soon, in accordance with original designs and intentions.

The snow looked beautiful from the living room this afternoon.

Wrightgeek
Posts: 1548
Joined: Fri Jan 07, 2005 5:21 pm
Location: Westerville, Ohio

Post by Wrightgeek »

Fantastic news, and congrats to you and yours. Welcome here to our group, and thanks for letting us know. Please do keep us in the loop with your plans, as well as your triumphs and tribulations. Here's wishing you many more of the former.

BBuck
Posts: 229
Joined: Thu Nov 13, 2008 6:48 pm
Location: Fort Worth

Post by BBuck »

This is indeed great news. It's a lovely design and a good example of a Usonian modular concept, expanding as the original clients needs changed.

I think even better that you knew Ward and Helen. What a relief. It's too great a space to not be lived in and enjoyed. Helen's watercolors belong there.

Please keep us updated.

Snow? What is that?

My best!

KevinW
Posts: 1287
Joined: Sun Feb 06, 2005 6:41 pm

Post by KevinW »

It's snowing here......Oh...wait.....it's just the delicate fragrant almond blossoms blowing in the gentle warm California breeze...

Great news, many congrats. What a gem!
KevinW

Paul Ringstrom
Posts: 4400
Joined: Sat Sep 17, 2005 4:53 pm
Location: Mason City, IA

Post by Paul Ringstrom »

Congratulations!

Please post before and after photos of your various restoration efforts as they unfold.

classic form
Posts: 182
Joined: Tue Dec 05, 2006 6:44 pm
Location: Kalamazoo, Mich.

Post by classic form »

Soooo happy to hear about this. Congratulations from a fellow Michiganian and old home owner. (and before you get a chance to ask...both...me and the house)

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