How to Get Best Price on Landfall Real Estate in Wilmington – Part 1

Running the Numbers and Submitting an Offer in Landfall

Awhile back I created a video on the best buyers agent for Landfall homes for sale.

Those who are in the top 1% of buyer agents are unbelievably passionate about service and representation and helping them WIN at real estate. What is a “win”?  It depends on the buyer. A couple of scenarios are just landing in the house against a competing offer, or getting the home 2-3% below market value, etc.  Every transaction is case by case and so is the definition of “win”.  Whatever a win is to their client is what the buyer agent aims for.

typical landfall home in the $500-600,000 range
typical landfall home in the $500-600,000 range

 

 

 

 

 

 

 

 

Example of Running the numbers and a Landfall offer price

So here is an example of running the numbers and assessing the comps on a home for sale in the neighborhood.  I’ll leave the address blank but suffice it to say the average sold price to list price ratio is 98% in Landfall real estate Wilmington.  My clients got the home for 95% on the home and it appraised $25,000 than our sales price.  It was a very challenging transaction all the way around in terms of the life circumstances of parties involved, stress and relational tensions, etc.  One of those transactions that is a blessing to close on and move on from emotionally for sure.   Sometimes real estate is 24/7 even in your sleep with intense transactions and closure is a relief.  I’ll leave it at that; it’s an INTENSE job at times working with people in challenging transitions 🙂

 

List price was $580,000:

  • 2034 Bay Colony Ln,Wilmington, NC  28405  — good comp.  Curb appeal not as good not as grand closed $521,000 Price up from here.  Also had 3 full baths instead of 4 like
  • 2118 Bay Colony Ln, good comp closed $514,000 but is on lot less than HALF the size of  2122 harborway.  price up big from here.  Also did not have 4 full baths
  • 2013 Graywalsh Dr,Wilmington, NC  28 closed $525,000 and lot is half the size as Harborway.  Price up due to lot size and only 3 full baths
  • 2408 Ocean Point Place Original kitchen but a small view of golf course closed $590,000 few days ago
  • 1820 Pembroke Jones Dr,Wilmington  good comp is under contract now listed after price dropped to $535,000
  • 1447 Quadrant Cir,Wilmington, NC  home is so different in style that perhaps it shouldn’t be in this list.  Closed 515K
  • 1317 Regatta Dr,Wilmington, NC  much smaller home closed $520K in Feb.
  • 2009 Spanish Wells Dr,Wil  a smaller home but on similar acreage.  however not an updated kitchen, but backs to nature reserve so some variables cancel each out.  Closed $565,000
  • 1105 Turnberry Ln,W  Closed $565,000 but is bigger.  Price back from this one.
so I think we have to offer net $520,000 (530,000 sales price and $10,000 seller subsidy) to be taken seriously.”

Part 2 is coming soon….You’ve never seen anything like it!

[DispletListing orientation=”vertical” map=”yes” listings=”yes” minListPrice=”500″ maxListPrice=”600″ subdivision=”landfall”]

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Jay Seville

REALTOR ®

One of the nation’s first 2.0 realtors…after hitting the highest levels of achievement at RE/MAX, Jay Seville left and formed his own brokerage in 2007 creating much business that he shared with his agents to help them make a great living. He has been principal broker and team leader of a buyer agent team since 2005.