There is a home in the Seaview area just up the hill from the beach via Jacobsen Road SW. It sits one home in from the 4 way stop at the corner of 49th Ave SW and SW Hudson Streets. This modular home was built in 1987. The house needed lots of remodeling and updating when it sold for $265,000 back on August 26, 2011. The buyers bought it to flip it. And flip it they did! The oversized double garage was redone and part of it was converted to living space still allowing room for 2 cars. They also built an enclosed walkway from the house to the room in the garage. The county records show 1,430 sq. ft. and the listing shows 1,910 which includes the room in the garage.
I saw the listing in the mls for $549,950. I thought to myself why it was listed so high and that all things considered, the market values, the location at a 4 way stop on an arterial, the size and style of the home this will be on the market a long time. What a surprise to see it had a sale pending within a couple days. Surely the appraisal will be lower. That is something we will never know because the home sold for $575,000 cash! That is $300/sq. ft. while the other comparable homes closed for $200/sq. ft. A bigger and new craftsman home a block away sold for $215/sq. ft. I phoned the listing agent and had to ask about it. He said there were 4 offers.
After scratching my head I thought of why it went for so much more than other homes. I concluded the main reason was because it had a lot of sq. ft. and all on one level. Secondarily it appeared to be a quality remodel in a good neighborhood. Why do you think it sold for so much?
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