4 Bedrooms, 2.5 Bathrooms
2894 Square Ft
Listing # 651356
Listing courtesy of ERA NORTHWEST PROF REALTY.
Check out this true 4 bedroom + bonus room. Very difficult to find in such a great area for this price! Huge MBR with WIC, jetted tub. Large kitchen with island, abundant counter & cabinet space, storage! Gas fireplace in family room. UG sprinklers with drip system & fenced yard.
Again, another client suffers from denial and the result is an extra $50,000 out of their pocket. I can’t tell you how many times this happens. Our largest challenge today seems to be educating sellers where the current market value of their home is. A typical listing appointment for us goes like this: We visit the seller’s home to review the location, condition and functionality, and amenities of their home. We spend time analyzing the market to find the REAL MARKET VALUE of their home. After presenting the facts to them, you see a shade of pale come over their face. “No way their home could only be worth that much”, they say. “We want to price it a little high to see if we get any bites. Don’t you want us to get the most out of our house?”
Of course we want our clients to get the most out of their house! That is why we give them the right information at the beginning so they can make an informed decision. Unfortunately often times, they don’t take our advice.
After months and months on the market the sellers usually end up chasing the market as it continues to decline. The most recent experience we had just closed at $50,000 under what they could have sold it for over a year and a half ago when they started the sale process. That denial got the best of them when they decided to price their home at $360,000 instead of the $310,000 that we suggested. They couldn’t stop thinking that their home was much better than the comparable comps around their Creekside neighborhood on Poppy Hills. After 19 months of frustration, they finally cut their losses at $260,000. That is a hard pill to swallow; losing over $50,000! However, that is what commonly happens to sellers who do not price their homes effectively.
Zillow had just released some studies that showed that homeowners who bought their home after 2007 are overpricing their homes 14.1% on average. Homeowners who bought prior to 2007 are overpricing their homes by 10.5% on average. Depending on the price point of the home itself; that can significantly price a seller out of the market! Buyers are finding great deals and those great deals are here to stay. The idea of us bouncing back to healthy appreciation anytime soon is a fallacy. This market is here to stay for quite a while; and by that, I mean quite a few years.
If you are planning on selling, don’t price your home too high! It will cost you!
For a Free Professional Market Analaysis call 503-385-1518 or visit http://www.old.paramountoregon.com
Creekside Estates and Golf Club Estates at Creekside make up one of South Salem’s more desirable locations to live. This community of 10 current subdivision phases wraps around one of Salem’s nicest golf courses. Creekside Golf Course was designed by Golf Professional Peter Jacobson in the early nineties. A person can find a pro shop in the clubhouse, an underground swimming pool and the exquisite Lakeview Restaurant and Lounge at Creekside. Creekside is also known for one of the best Fourth of July celebrations in town.
Creekside Estates offers beautiful and peaceful settings nestled just outside of South Salem with many views of the golf course. Many of these homes line the fairways and greens. Convenient to shopping and Interstate 5 access, Creekside is also known for its affluent market. Phase 6 at Creekside offers gorgeous views to the North over the golf course and city of Salem.
Golf Club Estates at Creekside is a group of phases devoted to offer less expensive housing to those who want to establish themselves within the same community. These homes do not generally offer views of the golf course, however; many of these homes are custom built and offer beautiful amenities. Creekside offers a healthy HOA for people who want to have the security of stronger CC&Rs.
Creekside Estates and Golf Club Estates at Creekside have had its share of market corrections. At the height of the market it was very difficult to find a home in this area without paying an arm and a leg. As of this writing, there have been 15 residential sales in this area in 2011 with an average sales price of $298,613. The low price is a 1682 sf home built in 2001 for $200,000. The highest sale is a 2892 sf home on .92 acres overlooking the golf course built in 2004 and sold for $400,000. There are currently 29 homes for sale ranging from $249,990 on up to $849,000 leaving approximately 23 months of inventory on the market in this community.
*MLS information is deemed reliable, but not guaranteed.