We're going to put an offer in on an excellent Alabama river house in the next day or two. It's way cool. I posted the view from the dock a while back. Here's a view of the excellent kitchen, complete with a gas stove. Yay!
The house is lovely, but overpriced. Our realtor, at the request of my real estate expert wife, sent us the comps for the area. The average time on market is about 70 days. This one has been on the market for over 200 days. Clearly, the market is signaling the price is wrong.
Yesterday, we had a phone conversation with our Alabama realtor about what and how we wanted to offer for the property. I've bought and sold houses as well as built and remodeled houses, but I know when I'm totally outclassed. I didn't intend on doing much more than listening to the two experts discuss the place. Still, I wanted some amount of analysis prior to the conversation.
I handed the comps PDF document to AI* and asked it to analyze the situation. It did a reasonably thorough job and pointed out some things I'd missed. At the conclusion of our phone call with the realtor, the girls decided on a price to offer for the house. It was within a percent or two of AI's recommendation and for the exact same reasons AI had given me.
Not bad.
* - For AI, read ChatGPT.
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