Lucky? or dumb?

A couple of weeks ago, a For Sale sign went up next door to The Wisdom household. The house, like ours, was built in 2001 and is quite a nice place.

Unlike our house, it”s owned by a man who has a lot of money and who”s made it a showplace. It was already a big house for East Atlanta (2,800 SF), and last year the dude spent a ton of money building out the basement. I”m talking a plush media room / guest suite kind of basement, not a wood-paneling, ping-pong table kind of basement. Now sporting nearly 4,000 sqare feet of beautifully-built space, it”s easily the nicest house on the street.

Dude got married this year, however, and his new wife isn”t an East Atlanta kind of girl. So they”re looking for a house in Buckhead that will be “their house”, as dude told me. I don”t think he”s happy about it.

And, apparently, moving quickly was more important than getting all their money back out of the house. He priced it ridiculously low (probably $40,000 low) to get a quick sale.

This place is such a find, I spent a lot of time the day it went on the market trying to convince friends who might be looking that they had to buy it. For an afternoon, I even entertained the idea of buying it ourselves and moving next door. But with one of our homes already on the market, I figured it wasn”t a good time to buy a fourth house. And, besides, our house was designed and finished out to look more like an older, intown home than the others. The house next door feels pretty suburban, and that ain”t for us.

Last week I saw what appeared to be a home inspector over there, so I figured they got their quick contract. When I saw the wife over the weekend, I asked her if they had sold it.

“Yeah, we got lucky. The first people who looked at it bought it,” she told me.

I thought about telling her that when you list a house on the high end of the neighborhood price range in December when the market is fairly flat and the first jerk who walks in the door buys it – you probably priced it ridiculously low.

But I didn”t. I just silently cursed her for lowering the bar for our resale values. Of course, we”re not going anywhere, and their sale price should help me out when I appeal the ridiculous value the county has put on my assessment next month. So it may work out in our favor.

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