Another WTF listing.
I decided to write about 754 Hillcrest because I noticed the sign out front and a year ago had toured the house. To my dismay they listing was just removed a few days ago. I guess the sign is still the last vestiges of hope?
We looked at that house back in the spring of 2015. It was listed at $1.5 on 1/1/15 and sat there for an entire year before they decided no one wants to buy our house at that price. The house is weird, Giant great room, ugly stairs that seem to be the focal point of the house and an overall weird layout.
So it sits there for an entire year with no price change and then they take a break. The watch as the bubble continues to inflate and a few months later in May 2016, they figure that the market has matured enough to appreciate the house at $1.5 so they list it AGAIN. No change in price back on for $1.5.
After few months they drop a whopping $11,000 to $1.49. It sits for another four months until last week they decided that no one can truly appreciate their home and they better stay put.
17 months and no sale. Zillow says it was purchased in 1973 for $33K. What is going through the mind of the seller? Not motivated is an understatement.
Despite two years of bubble inflation the market has spoken loud and clear. Your house is not worth $1.5 million to anyone. Too bad we don’t see more examples like that. Yet.