Wow! I listed a property in the MLS via a flat fee listing service (housepad.com). The flat fee services are a post on their own, for this post, I wanted to discuss the very active market that we are seeing.
The listing went into the ML on 3/24. This project turned out very well and has a fantastic location. The property for sale is at 30 Lombardy St, Lancaster, NY. We have an asking price of $154,900 which compares favorably to other properties in Lancaster that are on the market. There are couple of other renovations within a mile that are in the $169,000 – $180,000 range. This is a complete renovation that we started last spring. We were going to try to knock it out quickly but decided to take our time and bring it to market in the spring once it was clear that we would miss an August / September date.
In the first 3 days of the listing we had 7 showings with 2 more scheduled. The feedback has been terrific and we have received multiple offers (verbal at this point, paperwork in process). What surprised me is the level of activity given my perception of the mortgage market. I suppose that there is always a qualified buyer. Whether it be a cash buyer, or a well qualified buyer with a mortgage from one of the local banks.
In any case, we will be selling this terrific renovation at a fair price to someone who is looking to be in the Village of Lancaster. More than half of the showings are from those who stated that they absolutely want to be in this part of the village.