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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.
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.
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.
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.
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.
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!
Paul McIntyre <email@example.com>
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.
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?