Buying a house is like finding someone to marry. You only need one, but the possibilities are limited to those available at the moment. And it often seems like all the good ones are taken. You could wait your entire adult life for some to become available. Others are out there again every few years. Here are current examples of each type (houses).
Update: The house was sold for $420,000 on September 12, 2018.
There are grand, beautiful houses that have been sold three or four times in the past 20 years. This kind of turnover typically says nothing about the house; we just live in a restless time. That’s especially true for the upwardly mobile types who can afford to pay, say, $400,000, $500,000 or more for a house. People who are in a position to make big money tend to go where it leads them.
And then there are houses like 1820 Madison Avenue. It went up for sale this week for the first time in 43 years. It’s easy to see why the owner has lived there so long. Continue reading “Classic House of the Week: 1820 Madison Avenue, a Timeless Gem in Sunset Hills, $475,000”
BB&T has bought Edgewood, the mansion and 2.26-acre property at 111 Arden Place. It paid $770,000 in an auction at the Guilford County Courthouse on Tuesday. Their plans for the property are unknown; their representative at the auction works for a law firm and didn’t know. I’ve asked the bank and hope to hear back soon.
Note, January 11, 2018: This post has been revised with comments and an additional photo from Benjamin Briggs, executive director of Preservation Greensboro.
When you look at auction.com, you can expect most of the listings to be foreclosed subdivision homes, condos and townhouses. Pretty mundane places. The last thing you might expect would be a house like 111 Arden Place, a 5,200 square-foot stone mansion on 2.26 acres in Sunset Hills. The tax value of the property is just over $1 million. In 1999, the last time it was sold before foreclosure last year, the price was $845,000. This could be an interesting auction.
Update: The house sold for $215,000 on February 22, 2018.
There aren’t too many Spanish Revival homes in Greensboro, so the few we have tend to stand out. That’s especially true for 307 S. Tremont Drive, a beautifully restored Sunset Hills home that went on the market last week for $224,900. The market is strong for houses in the older neighborhoods west of downtown; I’m a little surprised this house is still for sale after a week. That could change after an open house on Sunday.
Update: The house sold for $225,000 in September 2017, and then for $429,000 in July 2018 after it was renovated..
If you want a real steal on a classic home, Sunset Hills isn’t usually the place to look. 2412 Sylvan Road may be an exception. It’s on the market for $249,900; at 2,020 square feet, the price comes to $124 per square foot. That’s the lowest price per square foot among the five vintage houses now for sale in the neighborhood (ranging from $139 to $178) and among the 12 that have sold this year (which have ranged up to $187).
Update: The house sold for its asking price, $429,900, on August 30, 2017. It had been for sale for seven days when the owners accepted the offer.
Owners of classic homes in Lindley Park, Sunset Hills and Westerwood are getting the message that this is a good year to sell their homes. Five have gone up for sale in the three neighborhoods this month, and there have been 11 closings since June 1. Fast deals are common. Offers were accepted in a week or less on five houses currently under contract.
One of the latest to come onto the market is 1907 Madison Avenue in Sunset Hills, a distinctive 1928 brick bungalow. The exterior features arched brickwork over the windows and a low brick wall around a front patio. It’s roomier than it may look from the street — 3,118 square feet with five bedrooms and three full bathrooms. It sits on a quarter-acre lot that easily accommodates the detached two-car garage.
The spring home-buying season has gotten off to a fast start, particularly in Irving Park, Lindley Park and Sunset Hills. Two Irving Park homeowners have accepted very quick offers. 607 Woodland had been on the market for three days; the asking price of $999,000 works out to an impressive $312 per square foot. 1104 Sunset Drive (asking $569,000) had been on the market just four days before an offer was accepted.
In Sunset Hills, we have eight current pre-1950 listings, and six of them went under contract in March. 309 Woodbine Court ($394,900) accepted an offer in two days; 1808 Rolling Road ($400,000), seven days; 2206 W. Market ($618,000), nine days.
In Lindley Park, we have six current listings; four went under contract in March. 2611 Sherwood Street ($164,900) had been on the market two days; 803 Longview Street ($264,000), three days; and 2514 Walker Avenue ($225,000), 34 days.
- The hot item in College Hill has been townhomes in the Wafco area. Four came on the market between February 22 and March 16; all four were under contract by March 27.
- Listings are at premium in the historic districts. Aside from the townhouses under contract, College Hill has only two houses and a Wafco Mills condo on the market. Just four Fisher Park houses are listed, and two are under contract. An offer was accepted on 700 Magnolia Street ($195,000) after two days on the market. In the newly renamed Dunleath Historic District, only four houses are the market, all smaller homes priced $175,000 or lower.
- The market for classic mansions in Sedgefield is tight and moving at a pace as stately as the homes themselves. Only three older homes are on the market, all at least 4,000 square feet and on the market at least nine months. Prices range from $425,000 to $2.9 million.