I have phenomenal news for 29205 Neighborhood homeowners! At 4:00 Friday afternoon, One Myrtle Court closed for $652,500. The house is 2,334 square feet with 3 bedrooms and 2.1 baths. What’s the big whoop? Well, if you do some quick math, the property closed for $280/foot, and that’s a thing.
Am I asking, or do we deserve credit for this? That’s not what I’m getting at, at all. Sure, we provide best in class marketing, supplied tact and finesse during the deal, got along wonderfully with the other co-broking REALTOR, and had the guts to go for it. That said, some of the credit goes to the current real estate marketplace, but most of the credit goes to the seller. The house is sharp.
Interesting side note – The seller completely remodeled the home under strict historical guidelines that apply in this incredibly popular neighborhood. You know Wales Garden, just up from 5-Points where all of the streets are named for rivers. 1 Myrtle Court is just up the hill from the iconic horse fountain (that is still in working order). All that said, the new buyer will enjoy the tax benefits of “The Bailey Bill” for almost 20 years.
Now, TO BE CLEAR, not every Shandon home will fetch such a number. Why, then, is this a big whoop for the neighborhood? Answer; Beginning Monday, 3/1/2021, every listing that fetches an offer/contract within a like price range or similar features will be able to use this sale as a comparable sale. In short, for 12 months, appraisers will be able to use this “comp” to help other sales.
Over the years I’ve been criticized a few times for listing a house for too much money. Insert the theory of, “If you don’t try to raise the bar, then how can home values ever rise?” Translation – I’m not scared to ‘go for it’ (and neither was this seller).
Congratulations to the buyer, our seller, and Wales Garden, Hollywood/Rose Hill, Shandon Neighborhoods.
If you or anyone you know would like to know more about 29205 or other Downtown Columbia real estate values, please call 803-447-8683 or email Franklin@TheNeighborhoodRE.com. We would love to be in contact with you!
Remember, Don’t buy the house; Buy the neighborhood. (Proverb)
Thank you!
Franklin Jones – The Neighborhood Company
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