Desperate Times Call for Motivated (Desperate) Sellers

Study enough real estate listings and you’ll eventually come upon one marked “motivated seller.” A motivated seller is someone who considers a quick sale more important than a highest possible price sale. There are numerous reasons why a person wants to sell quickly and you always want to ask your agent as to why (if the answer is, the house could slide into the Hudson River during the next big rainstorm, you may want to consider other homes). Following are four properties with “motivated sellers.” Do any of them motivate you into making an offer?

Seller is Motivated Because: The house is an estate and the family is anxious to settle all affairs
List Price: $575,000
Original List Price: $599,000
On Market Since: July 1, 2008
Address: 1 Grissom Dr, Bronxville
Style: Raised Ranch
Exterior: Shingle, brick
4 BR, 3 full baths, approximately 2,400 sq ft
Acres: .20
Year Built: 1967
Taxes: $15,800 (taxes are being reviewed and lowered to market value)
School System: Tuckahoe
Pluses: fireplace and terrazzo floors in family room, two-car attached garage, on cul-de-sac, Lake Isle membership available for golf, swimming, and tennis
Agent: Deborah Maxwell, Sotheby's International Realty, Scarsdale (914) 882-3699/(914) 725-3305; DeborahMaxwell.com

Seller Is Motivated Because: The sellers want to move to Armonk into a house that’s for sale next door to relatives. But the purchase of the Armonk home is dependent upon selling their current property. Says agent Michael F Levy, “This house is a good deal. It's in a great neighborhood, close to downtown and shopping, nicely renovated, and priced below the competition.”
List Price: $675,000
Original List Price: $695,000
On Market Since: June 3, 2008
Address: 88 Holbrooke Rd, White Plains
Style: Ranch
Exterior: Vinyl
3 BR, 2 full baths 2,000 sq ft
Acres: .18
Year Built: 1955
Taxes: $7,332
School System: White Plains
Pluses: living room with cathedral ceilings, dining room has French doors to brick patio, master bedroom with skylight, finished basement with laundry, office, and family room
Agent: Michael F Levy, Grand Lux Realty, Armonk (914) 273-9688/(914) 393-1577

Seller Is Motivated Because: The home is not being used; the mother of the seller used to live there but has moved out. The seller lives in Carmel, New York. “He is being smothered by the high taxes,” says agent Michael F Levy. “This home is priced fairly in comparison to its competition.”
List Price: $699,000
Original List Price: $789,000 (6/4/08); $749,000 (7/5/08)
On Market Since: June 4, 2008
Address: 78 Briary Rd, Dobbs Ferry
Style: Split-Level
Exterior: Brick
3 BR, 2 full baths, approximately 2,496 sq ft
Acres: .26
Year Built: 1958
Taxes: $17,500
School System: Dobbs Ferry
Pluses: oak floors throughout, copper gutters and leaders, two-car attached garage, adjacent 5,000-square-foot lot available
Agent: Agent: Michael F Levy, Grand Lux Realty, Armonk (914) 273-9688/(914) 393-1577

Seller Is Motivated Because: The house was purchased as new construction for $2.6 million by a New York City couple to be used as a winter weekend home. (They also have a beach home they go to in the summer.) Since it was new construction, it had no extras: landscaping, stonework, fencing, deer fencing, interior upgrades, etc, so significant money (about $400K) went into improvements both inside and out. The couple hasn’t used it as much as they thought they would so they have no need for the property. The owners are considered highly motivated. “All the comparable homes in the area have sold for much more money,” says agent Barbara G Harris. “This is truly a bargain. The seller just wants to be out of the property, even if he is taking a huge loss.”
List Price: $2,500,000
Original List Prices: $3,295,000 (7/30/07); $2,895,000 (2/20/08); 2,695,000 (6/19/08)
On Market Since: July 30, 2007
Address: 16 John Cross Rd, Bedford Corners
Style: Colonial
Exterior: Shingle, stone
5 BR, 6 full baths, 1 half bath, 6,500 sq ft
Acres: 4.5
Year Built: 2003
Taxes: $47,435
School System: Bedford (Fox Lane)
Pluses: high ceilings, detailed moldings, gourmet kitchen, hardwood floors, portico over front door, circular drive, meandering stone walls, first floor maid’s room and bath, three-car garage, finished basement with potting room
Agent: Barbara G Harris Houlihan Lawrence Inc, Bedford (914) 234-9099; bharris@houlihanlawrence.com