Tuesday, January 15, 2008

Sign of the Times

This is a "modest" project, as these things go; the price is high executive. At its original price of 1.25 million or so, it was CEO. There is a whole lot of house tucked into this .26 acre lot. This price drop is in the same range as the other recent sales on Anderson Drive. Informal research shows that the morethanamillion dollar houses have lay vacant for months and months (and years in some cases) and sell when they have reached a substantial price drop. The current penalty is about $300,000 below asking price after about 6 months.

Ironically, some of the nicer belowamillion dollar houses have sat empty a long time too. Their starting prices are around $750-850K, which makes them moderate in this neck of the woods. With the Oaks up the way in the same price point, there is much competition.

Note to builders: that river-house style home is not cutting it. All three are still empty. Who knew?

But if I see one more faux stone clad traditional transitional with a 3 car garage in the front yard going up, I will swoon.


Jeff said...

Is this a river-house style home? If so, then I would have to agree. It is horrendous.

Fallonia Parker said...

Actually this is a 3500 square-foot cottage. The river house is a throw back to the deeper south -- Savannah, Charleston, the Gulf, the Sewanee River -- from where it is way down upon. It features a 2 or 3 story front porch with large square columns. You can find examples on the newly created Non-indigenous Species category.

Fallonia Parker said...

My bad, yes, your THIS links to the river-style house. The post is not an example.