The highest- and lowest-priced single-family home sales from April 16 to 22
Published: April 27, 2012
Time posted: 10:10 am
Tags: Commission Accomplished
HIGHEST-PRICED SINGLE FAMILY HOME SALE
Sold price: $1.32 million
Square feet: 5,486
Listing agent: Lori Fuqua, Helen Adams Realty
Selling agent: Binny Orrell, Prudential Carolinas Realty
In the past three to four years, demand for homes selling for $1 million or more has been low, said Lori Fuqua, a broker with Charlotte-based Helen Adams Realty.
But demand hasn’t completely dried up for such homes, as evidenced by the sale last week of a $1.32 million, nearly 6,000-square-foot home at 3901 Foxcroft Road in Charlotte.
“In talking with other Realtors around the area I know that more interest is there and these homes are starting to sell again,” said Fuqua, the listing agent for the Foxcroft Road house.
The two-story, brick home was built in the 1960s.
Fuqua said its remodeled kitchen and a broker breakfast helped with the sale.
For the breakfast, she invited a dozen or so brokers to meet and discuss the home. Two open houses for the public were also held, she said.
“Both of those events had a good turnout, so I think that helped draw attention to the home,” she said. “And a lot of people commented about that kitchen.”
The kitchen was remodeled two years ago. It features dual islands, granite countertops, dual ovens, a vegetable sink and a new, natural gas stove.
“I tried very hard to bring attention to those features,” Fuqua said.
Also, the buyer was attracted to the home’s spacious rooms, moldings and hardwood floors, she said.
“Those things are very attractive in the Foxcroft neighborhood,” she said.
Selling agent Binny Orrell at Prudential Carolinas Realty did not return calls for comment.
Fuqua, who said she has been selling real estate in the Charlotte area for 12 years, gave a lot of credit for the sale to her husband, Kenny, who is her partner at Helen Adams.
LOWEST-PRICED SINGLE FAMILY HOME SALE
Sold price: $5,150
Square feet: 930
Listing agent: Phil Liles, Coldwell Banker-Black & Whisnant
Selling agent: Suzanne Fernandez, Re/Max Real Estate Experts
Phil Liles has no qualms about selling a home in terrible condition like the one at 621 Clyde St. in Gastonia.
In the past, he said, he might have balked at the thought of taking a listing for a home that would need to be completely rehabilitated. But in today’s market, well, agents sometimes have to take what they can get.
The house sold for $5,000.
“The only thing good about this house is the frame,” said Liles, a broker with Gastonia-based Coldwell Banker-Black & Whisnant.
The buyer knew it would be a “total rehab,” Liles said.
“But I don’t feel like I’m ripping him off or anything,” he said. “With the water and sewer taps already installed on the lot, and the frame of the house itself on top of that, they’re getting a bargain. He’ll make a good amount of money on this deal.”
Liles said the home needs about $30,000 in repairs on the heating and air conditioning system, roof and walls.
The buyer should be able to get about $600 a month in rent once it’s fixed up, Liles said.
“So he’ll make his money back,” he said. “On any of these foreclosed homes, all it really takes is a little bit of money and a lot of hard work and you can have a very nice rental property.”
Suzanne Fernandez, a broker with Charlotte-based Re/Max Real Estate Experts, was the selling agent. She said it was a cash sale.
“I do about two of these each month now,” she said, adding that it’s good for the market whenever a foreclosed home such as this one sells.
“The faster we can get this inventory of distressed properties off the market, the faster we’ll see a real recovery,” she said.
A look at the highest-priced sales in other Charlotte-area counties
92 Mountain Laurel Drive, Taylorsville
Sold price: $18,615
Square feet: 1,086
1014 Stuart Drive, Wadesboro
Sold price: $90,000
Square feet: 1,253
9607 Camden Town Drive, Concord
Sold price: $560,000
Square feet: 3,570
4523 Brentwood Drive, Belmont
Sold price: $297,000
Square feet: 2,977
125 Milford Circle, Mooresville
Sold price: $950,000
Square feet: 5,25
3566 Governors Island Drive, Denver
Sold price: $890,000
Square feet: 4,039
401 Shamrock Drive, Badin Lake
Sold price: $350,000
Square feet: 1,503
216 Whispering Hills Drive, Locust
Sold price: $146,000
Square feet: 2,100
1205 Parkhill Court, Matthews
Sold price: $1.265 million
Square feet: 5,804