7455 Blossomwood came on the market today as a short sale at $375k. They need an accepted offer by monday to stop the foreclosure (No dual tracking any more). This is a 1980 built 3494 Sq Ft home on .24 acres.4Br,4Ba. It’s a good in town location and reasonably walkable. Blossomwood parallels Jewell and the lot backs on to Jewell, which is pretty busy at some times of the day. This is one heck of an asking price and I suspect it will go for $100k more, although it will take a cash buyer. It’s priced to generate quick offers and it’s definitely worth a look at $475K.

Update: The price of this home has been raised to $425K. It needs a good deal of work, but it’s still a very good buy at this price.

Further update: This home went into escrow at 1:33 PM today for $425K.

When I look at the homes sitting on the market here I wonder how long it will take the sellers to realize that price is the problem. If you price just a little below where you think the market price is, you are very likely to get multiple offers and a higher sales price. And that’s without considering the carrying costs.