My, How You've Grown!



As time passes, our memories fade. True in life, and true in real estate. So, I thought it would be fun to take a walk down memory lane. Today, I want to recall the life of a modest home in Scripps Ranch. We happenened to be the listing agents for this home the first time it began it’s resale life. Since it is located in the Willows subdivision and because I am so incredibly clever (let the hilarity ensue), we will call this home “Willie”.

Willie was born on May 24, 1999. He was an average home, weighing in at 3 bedrooms plus an office, 2.5 baths, and 2540 square feet. His first parents bought him from the builder for $333,000. They were so proud!

When Willie was three years old, his parents needed a bigger home, but they had loved him and taken very good care of him. Here is the first entry on his growth chart:
Sale Date: May 8, 2002
List Price: $534,900
Sale Price: $534,900
Market Time: 4 Days

Poor Willie. In just 7 short months, his new parents had to move because of a job transfer. Next entry:
Sale Date: December 21, 2002
List Price: $535,000 – $585,000
Sale Price: $555,000
Market Time: 10 Days

Wow! Everybody loves Willie! Several years went by, during which time Wille again transformed from house to home. And my, how he was growing… on paper. You see, Willie was (for our purposes here) a triplet. His identical sister (or as we call her, his model match) measured in as follows:
Sale Date: January 22, 2004
List Price: $700,000 – $745,000
Sale Price: $735,000
Market Time: 19 Days

A little later, his identical brother had grown even more:
Sale Date: March 17, 2005
List Price: $799,000 – $849,000
Sale Price: $834,000
Market Time: 3 Days

Willie’s newest parents were so pleased! As they had been closely tracking the progress of the family, they were quite sure that Willie had grown much more when they decided to relocate earlier this year. Afterall, he was “special”. Imagine their surprise when they found the following:
List Price: $829,000 – $879,000
Market Time: 88 Days
Status: Cancelled

List Price: $819,000
Market Time: 120 Days
Status: Active

Poor Willie. His current parents couldn’t wait any longer, and he is now in foster care (tenant occupied) pending adoption. But they couldn’t help but wonder: What stunted his growth? Was he the victim of a “bubble” bath? You see, from the perspective of his current parents, he was not performing up to standards. But, if they would only take the time to reflect on his life in total, and remember the early years, they would see that he has been quite an overachiever. He is young, and setbacks are common in ones development. Willie’s next entry will likely reflect the following:
Growth since birth (7.5 years): 130%
Growth in past four years: 40%
Return on “Investment”: Huge

I suppose it is just all “relative”. 

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