Thursday, 26 May 2011

Million Dollar Listing - 4.5 million for a construction site

I think that Million Dollars Listing is quickly becoming my new favour real estate show. I think that it done in more of a realty show style flair, similiar to The Hills or The City. The real estate agents are the main characters in the show and the MLS homes they are selling are more of a supporting cast.

Anyways in this weeks show we have one REALTOR taking a listing of a home that was under construction which has now stopped leaving this home a construction site. I was amazed to learn that it would require another 8 months to complete but once you see the size of the property you can see why. In any event the difference between spending another million to complete the work or sell it now would double the value of the home from $4.5 million to $9.0 million.

If that was me I would want the $9.0 million but didn't seem to be the issue to the current home owners so it went on the market for $4.5 million.

The other interesting property was an amazing beach front home for $13,995,000. What was interesting here is that the seller wanted to use two REALTORs and did not tell either of them before they both arrived at the same appointment. It was fun to watch!

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