A Price Reduction and Two Offers Later, 12278 Scotts Mill Drive is Under Contract
When 12278 Scotts Mill Drive hit the market on October 18th, the seller knew that we were pushing the market at the opening list price of $485,000. The home was an older floor plan, but had a new roof, new HVAC, new water heater, new hardwood floors and new appliances. It also had something that many Braemar buyers desire–a cul-de-sac lot that backed to woods. Walking out the back gate, you could take a few steps and be on the well worn path beside the Broad Run stream. So while the home may have been in need of a bit of cosmetic updating, it had great bones and a great location and the major systems were new. The market would let us know in short order if they felt $485,000 was a fair price.
We had twenty-one showings in the first twelve days on the market. Wow! Unfortunately, the feedback kept addressing a need for some windows to be replaced. My diligent seller got quotes on window replacements and we chatted. We decided to lower the price to accommodate window replacements. On October 31st, the price improved to $475,000. The showing traffic increased and only three days after the price change, a buyer’s agent had presented us with an offer.
While negotiations were in progress between the seller and buyer, a second offer came in on November 4th. Negotiations with the first offer really got serious at that point and a deal was struck. All the while, more and more showings and calls from desperate buyer agents looking for a great single family home on a wooded lot in Braemar.
Good things happen when you listen to the market’s message. In this case, the market was not happy about the price and windows needing updating. The price was reduced $10,000 to address that issue and three days later the buyer that landed the home had written an offer.
The final sales price will be revealed when the property goes to settlement in late December, if not sooner. These buyers are anxious to get into their new home. As always, I’ll keep you posted.
In the meantime, if you know of any Braemar home owners that have been thinking of selling, but wanting to wait until spring, I would love to chat with them about the advantages of our fall market, which I call our second spring. High buyer demand with less competition is a great recipe for seller success. Or if you know someone looking for another great Braemar single family home on a wooded lot, here’s one coming up November 9th at 12366 Fife Ness Court. It will be priced at $489,000.
Give me a call at 703-402-0037 and I will be happy to tell you how I can get you the most money in your home sale. Since 2005, No One Knows Braemar Better!
Chris Ann Cleland
Associate Broker-Licensed in VA
Long & Foster REALTORS®