Kensington short sale...SOLD after 653 days on the market!

A Kensington model on Houlton Circle that had been on the market since April of 2008 has finally sold for $345,000.

The original agent placed it on the market at $549,000, eventually reducing it to $410,000. After 269 days on the market, the owner switched agents. The new agent priced it at $400,000, had it on the market for over a year, and eventually sold it for $345,000. A selling price over $200,000 less than the original asking price...think someone made a pricing error here?

I see this too often, where wrong pricing, whomever is at fault (agent, owner, or both) ends up costing the seller tens of thousands..and in this case hundreds of thousands of dollars...as well as a great deal of time and stress.

Another short sale offer falls through

A short sale Kensington with a 2 story guest house, that was under contract, has just come back on the market. The home was under contract back in September, then again in October.

The home has been on the market now for a total of 229 days.

I am sure this is tough on the seller to have 2 buyers back out, walk away or be turned down, but this is the state of short sales today. I have found that it is usually because the banks are so slow in making and/or reporting ANY progress on a file to the parties involved that many buyers just move on...The banks are either understaffed, innefficient, unmotivated or stalling until the President gives them some more of our tax dollars. It should be clear that it is a fiscally more prudent decision to short sell an occupied home than to try to forclose on and sell a home that may become vacant  and be vacant for months. One can only hope...

Kensington sale

A Kensington with a 2 story guest house (instead of the 3rd garage), that had been on the market for 634 days was reported sold. The property was listed at $525,000 at the time of contract and was sold for $455,000.

Back in October of 2007 the home was listed for $674,900. The sellers were the originall owners and purchased the property in March of 2002 for $328,000.

Kensington short sale, price reduction

A Kensington model that has been on the market a total of 557 days now just reduced their price from $390,000 to $375,000.

This home was originally placed on the market in April, 2008 at $549,000.

The current owners purchased the home in September of 2006 for $613,000.

Kensington short sale...sold

A Kensington (courtyard) model that had been on the market at one point for $699,990 just sold for $317,000 as a short sale.

It appears that the original owners, who purchased the home in November of 2002 for $339,4000, were the sellers.

Kensington short sale, Grande Estates

A Kensington short sale, pool/lake has just reduced their price from $400,000 to $390,000. This home has been on the market a total of 541 days. It was under contract 3 times while listed at $400,000 and fell through each time for 1 reason or another.

It was originally placed on the market back in Apriol of '08 at $549,000.

The current owners purchased the home in September of '06 for $613,000.

Under contract...Kensington

A Kensington on Houlton has gone under contract. This home is currently priced at $399,000 and was priced as high as $450,000 at one point. It is being sold by the original owner who paid $370,300 for it in December of 2001. 

The home was marketed as a short sale.

Kensington...back on the market.

A Kensington that last sold for $613,000 in September of 2006 just came back on the market.

This home was placed on the market by the current owner in April of 2006 at an asking price of $549,000. As of today, the asking price is $400,000. This home has been on the market for 520 days. The home is a short sale and has gone under contract (and fallen through) three times since January of this year.

Journeys End-Grande Estates...price reduction

A Kensington model, pool, lake, on Houlton Cir., with a 2 level guest house, just reduced their asking price from $450,000 to $399,000. This home has been on the market for 137 days.

Journeys End...off the market...again!

A Kensington model (courtyard) that has been on and off the market with its curent owner since 12/2007 is off the market again. There is a bit of a story here...the home was foreclosed on by the lender in December of 2006. It's current owner bought it from the bank in September of 2007...the home was rehabbed and placed back on the market in December of 2007 with an asking price of $609,900.

Since then, the home has been listed by 4 different agents, most recently in July/2009 for $479,900...but today, 8/18, the home was placed "temporarily" off the market.

We'll keep you updated!