This house has been listed for a couple of weeks.  I had considered posting it last week because the listing says it is located in Wychwood but it is clearly in Dovercourt Park.

Plus, it was listed at $450,000.  A steal for Wychwood and not bad for Dovercourt.

But I was just a little underwhelmed by the whole thing.

Well, thanks to Jonathan who not only saw the house in person and pointed out that the kitchen on the main floor has no appliances (guess that is why there are no pictures), the bathrooms need to be gutted, and the house is full of knob and tube......but that the house has had a price INCREASE.

That's right. 

It didn't sell after the first Open House and now they have raised the price.

By 62%!!!!!!!!!!!!

That is NUTS!!!!!!!!!!!!!

It is now listed at $730,000.

This doesn't make sense AT ALL.

$550,000 maybe.  At the most, $575,000 (it does have parking...).

NOT $730,000.

Especially if you didn't even sell it at $450,000 on the first go around....

UPDATE:  as to the comments below, I am pretty certain that there is no law that if you get an alleged 9 bids over your asking (if 'anonymous' is right) and stupidly list your house at $450,000 because you or your agent don't know that your house is actually a $575,000 house in this market, or that your are testing out the market to see what you will get (what!?!  just saying...), or that you got 9 bids...

9 BIDS!?!...

 and turned them all down hoping that you could re-list at $730,000 and get $899,000, there is no law that says that you have to re-list at what the highest bid was that you stupidly turned down.

I could be wrong but I am pretty sure this isn't the case.

listing

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