Friday, March 10, 2006

Our "Old" House, For Sale

by Tom Bozzo

Looking for a swell little house in Madison? We lived here from 2000-2004, before decamping down the hill. Were the bedrooms a bit more equally-sized, we might still be there, since we paid $160,000 for it six years ago. The lot is great, and it has a Rare Nakoma Two-Car Garage; I'm currently looking forward to spending big bucks to get the Even Rarer Dudgeon-Monroe Two-Car Garage at the "new" house.

When we sold, we had a contingent offer in on present residence, and so we weren't remotely inclined to push the frontiers of 3 BR, 1 BA house pricing. It'll be interesting to see what our successors end up getting vs. the $285K asking price. It's a little aggressive, maybe, though it's interesting to note that an average 1949 house like that has features (real cedar siding, skim-coat plaster walls) that would be luxuries in new construction. It may still put them in the relatively fast-moving end of the market — and they seem to have taken a cue from neighbors a couple doors down, who priced a similar house similarly without encountering any significant price resistance.
285K seems a bit high to me, but it IS Nakoma. Who knows? For all of the talk of the real estate bubble bursting, homes still seem to be moving.
I'm inclined to agree with you -- the guy two doors down needled me for the "low" price I'd set when we sold.

The under-$300K segment of the market seems to be doing a lot better than the higher-end stuff. In the case of a house like this, it probably benefits from the factoid that there's darn little "starter" housing in the near west, and much of it is in rough shape. For that matter, a lot of it is expensive and in rough shape.
I love Madison houses. When you guys switch to the new place I'll probably just squat over there for a while. So if you find a sleeping bag and empty tuna cans...mine.
MT, my understanding is that our successors at 4170 are aiming to be out sometime in the late Spring. Until then, beware of their doggies.

(Our screen porch at the "new" house does have a cat door, but it might be best to avoid the battle of the fat cats over the tuna.)
I feel like part of me never really leaves the places I've lived. I like driving by them and seeing how they're doing.
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