A Tale of Two Houses

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On Sunday afternoon, Barnaby Street in Chevy Chase had two Open Houses. Both are listed at $849,000

House Number One looks a lot like the other houses that have sold for $849,000. House Number Two looks a lot better than some of the stuff that’s gone for over a million.

So it looks to me like the second house is priced to foment a bloody bidding war. Is that really the best strategy in this market? It will obviously sell for more than the first house, but will it sell for what it’s really worth?

A lot of buyers, not to mention the agents who represent them, have already seen one too many bidding wars. Agents are walking around with contract writing arms in slings!

I’m on my way to show these houses in a few minutes, along with a few others. This client has been beaten up by several bidding wars. Will she want to enter the fray once again? If she does, will I try to talk her out of it?

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