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My family and I relocating to Lexington in a couple weeks. We have been searching for homes generally priced around $299,000. I realize there are different areas (some 'hotter' than others) and DOM can also drive down the price too. But can someone give me a ballpark of what I can expect the finally sale price to be? Thank you!
Well, first I must say you need to focus on what the house is worth before thinking about the List-To-Sale-Price percentage. That is the one spot that most people overlook and is the advice I give all my clients. Some houses, if priced right, will sell for 100% of the list price. Others that are over-priced may go for much less. The average around here is 97% of the list price......but please, have your realtor do a CMA (Comparable Market Analysis) to make sure the house is worth whatever you plan to offer!!
You could find an outdated house in Chevy Chase or Ashland Park in your price range and fix it up. For the money you want to spend, most of the neighborhoods are already going to be good ones. You'd be fixing up the eyesore of the street more than you'd be waiting for the neighborhood to improve.
Most of the older neigbhorhoods that I see improving over the next 5-10 years are much cheaper than your price point.
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