Sold price: $1.42 million
When Larissa Crawford began showing this massive home in 2011, she wasn’t expecting it to be on the market for very long.
The home sits on Lake Norman, and last year Forbes.com featured it among U.S. homes with “amazing and outrageous” garages.
But it would take more than a year to sell the house, which features three stories, five bedrooms and five bathrooms.
Oh, and it comes with an elevator.
The property was listed with Reed Jackson, of Cornelius-based Ivester Jackson Properties. Crawford, the selling agent, also works for Ivester.
“Reed had it listed for a year and almost three months,” Crawford said. “He first listed it on Jan. 7, 2011. I had several buyers who showed interest over the course of last year and the beginning of 2012. I took one buyer out there three times, but they just never were ready to purchase.”
The buyer toured the home twice, Crawford said, adding that it took her two attempts with different potential buyers to sell the home, which was was built in 2007 and sits on 0.65 acres.
“This is the kind of home that requires a specific buyer,” she said. “The price and the location meant that a certain kind of buyer would have to be interested. When you look at this location, at the $1.4 million mark there is not a lot to choose from.”
The home’s main selling point – other than Lake Norman – is the modern kitchen, she said.
In November, Forbes highlighted the fact that the home had one two-car garage and one three-car garage complete with kitchen, bar, lounge, overstuffed couches and big-screen TVs.
At that time, the property was on the market for $2.1 million. A few months later, the asking price dropped to $1.9 million.
Sold price: $5,000
In today’s market, it’s not unusual for a home to sit on the market for a year or more. But the three-bedroom, one-bath home in Statesville took – get this – 899 days to sell.
Perhaps the state the house was in had something to do with it taking more than two years to sell.
“To be honest the house was in poor condition,” said listing agent Vicky Vaughan, a broker with Charlotte-based Coldwell Banker United.
“I was very pleased when the property sold.”
Vaughan, who was the listing and selling agent, said she had little interest from buyers thanks to the home at 226 Fayetteville Ave. needing so many repairs.
“Really, we ended up doing this sale for the 0.3 acre of land that came with the property,” she said. “It wasn’t about the house much at all. In order to get the sale we had to be honest about what price we were asking and what price we were willing to accept.”
Vaughan said that when she started selling real estate 17 years ago she never thought homes would sell for prices this low. But this was not the lowest priced home she’s sold, she said.
“Last year I sold a home in Iredell County for $3,000. I never would have expected that. Ever. I think that might be a record of some kind in the CMLS for lowest-priced home ever sold in Iredell County.”
Today’s interest rates are also lower than Vaughan said she ever imagined.
“When I first started selling real estate, focusing on the Rowan County area and the area in north Mecklenburg County, interest rates were around 7 or 8 percent. But when I bought my first home, a few years before I started selling real estate, we had a double-digit interest rate. And this was even with us having a large down payment and good credit.”
A look at the highest-priced sales in other Charlotte-area counties:
480 Falcon Drive, Concord
Sold price: $349,900
Square feet: 3,381
500 Stonewater Bay Lane, Mount Holly
Sold price: $365,000
Square feet: 4,600
114 Sienna Pace Court, Mooresville
Sold price: $1.26 million
Square feet: 6,280
7867 Golf Course Drive, Denver
Sold price: $259,900
Square feet: 2,141
2054 Queens Road, Charlotte
Sold price: $1.41 million
Square feet: 4,587
713 Paint Circle, Oakboro
Sold price: $123,000
Square feet: 1,364
217 Plymouth Drive, Matthews
Sold price: $370,000
Square feet: 4,884
Home sales data and photos are copyright 2012 Carolina Multiple Listing Services Inc.