Similar Houses, ~100K apart.
Loudoun County
14844 BANKFIELD DR WATERFORD, VA 20197 [Toll Brothers Quick Delivery Home]
List Price: $ 849,975
Year Built: 2007
Subdivision: WATERFORD RIDGE
BR: 4, FB: 4, HB: 1
Lot Acreage: 3.97
14925 BANKFIELD DR WATERFORD, VA 20197
List Price: $1,199,900
Year Built: 2004
Subdivision: WATERFORD RIDGE
BR: 4, FB: 3, HB: 1
Lot Acreage: 3.38
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Prince William County
10507 WHARFDALE PL GAINESVILLE, VA 20155 [Under Contract]
List Price: $535,000
Year Built: 2003
BR: 4, FB: 3, HB: 1
County Tax Assessment: $532,300
10500 WHARFDALE PL GAINESVILLE, VA 20155
List Price: $648,887
03/23/07 (Reduced) $648,887 to $624,887
Year Built: 2003
BR: 4, FB: 3, HB: 1
County Tax Assessment: $555,500
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6084 OMEGA LN MANASSAS, VA 20112
List Price: $389,900
Year Built: 2005
BR: 4, FB: 2, HB: 2
County Tax Assessment: $441,300
6103 OMEGA LN MANASSAS, VA 20112
LIST PRICE: $499,900
Year Built: 2005
BR: 4, FB: 2, HB: 1
County Tax Assessment: $458,000
Fauquier County
7261 WINDSOR CT WARRENTON, VA 20186
List Price: $539,900
Year Built: 1988
BR: 5, FB: 3, HB: 1
County Tax Assessment: $578,400
7254 WINDSOR CT WARRENTON, VA 20186
List Price: $639,900
Year Built: 1989
BR: 4, FB: 3, HB: 1
County Tax Assessment: $609,000
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7566 BALD EAGLE DR WARRENTON, VA 20187
LIST PRICE: $599,900
BR: 4, FB: 3, HB: 1
County Tax Assessment: 705,300
6359 BOB WHITE DR WARRENTON, VA 20187
LIST PRICE: $675,000
BR: 4, FB: 3, HB: 1
County Tax Assessment: 703,500
Tuesday, March 27, 2007
Desultory Prices
Posted by Harriet at 11:14 AM
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9 comments:
7254 Windsor Ct was purchased for $585,000 in Dec 04
6359 bob white was bought for over $700K.
Harriet,
This is excellent information. I'm curious, what criteria do you use to select homes to highlight? Are you on top of all recent sales or do you select the ones that are most distressed?
Thank you,
My $0.02
harboz,
Yes -- those sellers are having difficulty competing with the sellers who have more equity or more tolerance for accepting a "loss".
mytwocents,
Thank you. I mainly select foreclosure properties, because those are likely indicative of where the rest of the resale market might be heading. Resellers in a neighborhood can stick together for a long time and hold the line on their prices, but once one goes to the bank, it gets sold. The banks won't want to hold onto them forever and are thus more "realistic" in their pricing.
Nice blog, very helpful.
The Toll Brothers price difference is explained by the base home (or quick delivery) not having any options. It is bare bones so no electronic themostat and no automatic garage openers. The other home for sale probable was purchased with all options and is already built. They're both screwed really.
madmonkey,
"This spacious QUICK DELIVERY HOME includes a 3-car side entry garage; gourmet kitchen w/granite countertops and ceramic backsplash; walk-out basement, electrical and security upgrade, lighted brick driveway monuments, many more uppgrades. Must See."
That was from the listing.
I agree, though, that with quick delivery homes one never knows. Builders ads are often inaccurate.
Harriet,
I request you include the listing date for the pairs of properties being compared. That additional information would help establish if the newer listings are listed at lower price than the older (yet comparable) listings. This would help decipher the market direction.
Additionally, where do you get the data for the same property sales and similar property listings. I am intereted in data for Alexandria city.
Thanks and keep up the good work.
V
@vikas,
I can do that (listing dates). Of course, that data is sometimes not accurate on the MLS. I've tried to go easy on the MLS data because it's proprietary.
I do all my own research on this data. It takes a bit of time. Someday hopefully this stuff will all be transparent to buyers.
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