usctrojanman29_IHB
New member
[quote author="CapitalismWorks" date=1213681224]The question is what do you think the relationship between the price on detached vs. attached units should be? The Linden tract, detached w/ small yards are going for ~$375-$400 a square. It appears the current listings in Ambridge reflect a belief that there is no discount for being an attached unit without a yard. They are wrong.
One man's upgrade is another man's eyesore. You are assuming that your upgrades are going to appeal to all buyers. They won't. You are also assuming that upgrades are going to allow you to price your place in line with comparable units, but fare better. That is probably true, however faring better may mean nothing. It is worth considering that every other 1823 sq.ft Ambridge unit is overpriced. However, since there are so few of these units, it is hard to tell.
Again, I just sold a Condo in QH is Q12008. It was painful. The final price was 24% off our original ask, and it took 7 MONTHS to sell. I dropped the price aggressively in that time, and watced 2 similar units sell below my ask at the time, yet 8-10% higher than my final price. That is called chasing the market down.
My adominition to you is to avoid chasing the market down, as it will only cost you more in the end. Perhaps your experience will be different, however based on the continued price declines and backup in mortgage rates, I am led to believe things have not gotten easier.
If you like the place and are comfortable with the thought of owning it indefenitely (either as a primary residence or a rental), then price on the high side and see what happens. If, on the other hand, you are serious about selling then you have to consider how to make that happen.</blockquote>
I agree that the listing prices of the other 1,800 sf units in the Ambridge sub-division are priced a bit high and there needs to be a discount to the detached condos. The condo is my primary residence and the updated were all done in mind of selling in the near future so the paint colors and other updgrades were picked to be somewhat neutral to appeal to a wide audiance. I'll be listing it this week so I post up the link to the listing for you guy to see.
One man's upgrade is another man's eyesore. You are assuming that your upgrades are going to appeal to all buyers. They won't. You are also assuming that upgrades are going to allow you to price your place in line with comparable units, but fare better. That is probably true, however faring better may mean nothing. It is worth considering that every other 1823 sq.ft Ambridge unit is overpriced. However, since there are so few of these units, it is hard to tell.
Again, I just sold a Condo in QH is Q12008. It was painful. The final price was 24% off our original ask, and it took 7 MONTHS to sell. I dropped the price aggressively in that time, and watced 2 similar units sell below my ask at the time, yet 8-10% higher than my final price. That is called chasing the market down.
My adominition to you is to avoid chasing the market down, as it will only cost you more in the end. Perhaps your experience will be different, however based on the continued price declines and backup in mortgage rates, I am led to believe things have not gotten easier.
If you like the place and are comfortable with the thought of owning it indefenitely (either as a primary residence or a rental), then price on the high side and see what happens. If, on the other hand, you are serious about selling then you have to consider how to make that happen.</blockquote>
I agree that the listing prices of the other 1,800 sf units in the Ambridge sub-division are priced a bit high and there needs to be a discount to the detached condos. The condo is my primary residence and the updated were all done in mind of selling in the near future so the paint colors and other updgrades were picked to be somewhat neutral to appeal to a wide audiance. I'll be listing it this week so I post up the link to the listing for you guy to see.
