Price-cut-a-palooza one last time
Homes targeted to the lower and middle parts of the market sell quickly once it hits that "sweet spot" price. Wilson/Press.
A neighborhood in Post Falls. Keep an eye out daily for new listings and price cuts in your desired neighborhood. Wilson/Press.
Even spectacular homes nestled on the Spokane River can attract buyers with price cuts. Wilson/Press.
Some want Price-cut-a-palooza to go on forever. Sadly, Price-cut-a-palooza is stepping down for the season. For the Price-cut devotees, we’re going to teach them how to say goodbye.
We’ll do that by doing Price-cut-a-palooza One Last Time. We’re going to use this unique position to help move them along. One Last Time.
This fall-centric sub-genre of Neighborhood of the Week takes a snapshot of area home prices after the flurry of summer activity. As with most years, the North Idaho real estate market sees a handful of price cuts on the market for homes that didn’t move during the warmer months.
Price cuts happen for many, not-at-all nefarious reasons. It might be a simple case of a home being originally listed slightly above its market value. Some real estate agents do this purposefully - they start high to gauge a market, then utilize price drops to reinvigorate the listing until the perfect buyer comes along. As winter approaches, you might also see price cuts from sellers who want to get a deal done before the end of the year.
Previous price-cut-a-paloozas have covered Hayden and segments of Coeur d’Alene, including the waterfront. We haven’t discussed Post Falls or Rathdrum yet! Wait, does that mean we have time for TWO more Price-cut-a-paloozas?!
No. ONE LAST TIME!
So Post Falls then? Great. One of the reasons we do this column is to point out how effective price cuts can be in making sales happen. Case in point, three homes in and around the Tullamore area of Post Falls quickly went pending after recent price drops. The homes ranged in sizes between 1,500 and 2,000 sq. ft. with reduced price listings between $410,000 to $480,000, after price drops of $15-20K. Another welcoming abode went pending in Fieldstone after an $8K drop to a listed price just under $530,000.
South of the freeway and close to the Spokane River are a few other notable drops. A manufactured home in Lucky Pines dropped a few grand to $138,000. A four-bedroom, 1,700 sq. ft. home near the river and just around the corner from Black Bay Park is down $10K just last week to $475,000. Meanwhile, a much larger home closeby (3,800 sq. ft.) with secondary waterfront just went pending after a more than $25,000 price drop to the listed price of $699,000.
South of the river and ON the river is a property with more than 150 feet of river frontage, dock, spacious deck, great views and a sprawling 3,300+ sq. ft. home for just under $2.3 million, down $75,000 last month.
Back into the realm of affordability for most people, there are a few attractive price cuts heading deeper west into Post Falls, including a 2,200 sq. ft. four-bedroom home just off Idaho Road with a $9K price cut to $450,000. Another attractive three-bedroom just off Spokane St. dropped $30K to $499,000. Oops, both of those listings have gone pending.
Okay, but if we go to Chase Road, north of Poleline, we’ll find four more attractive price drops on … wait … those are pending too?
Fine, more north we go! Near Prairie Ave. and the golf course is an almost 3,000 sq. ft., four-bedroom home down $30K to just under $700,000. Another new construction home near Prairie with four bedrooms and almost 2,600 sq. ft. dropped $24K to $675,000. Those remain active listings as of press time, as homes of that size and price tend to take a little longer to sell compared to smaller homes. Not everyone needs that much space.
Geez, with all these pending listings in Post Falls, maybe we should have devoted the final Price-cut-a-palooza of the season to Rathdrum. What if next week we… NO. This was ONE LAST TIME! We just taught you how to say goodbye!
Don’t fret about Price-cut-a-palooza. It’ll be living out the rest of the year, sitting its own vine and fig tree, having a moment alone in the shade. Price-cut-a-palooza, is at home in the nation it made. One Last Time.
Let us know about the standout neighborhoods around North Idaho you want to see featured in Neighborhood of the Week, especially if you have an idea of how to incorporate more “Hamilton” lyrics into the descriptions.
Realtors! Reach out to us with updates on new developments and established neighborhoods in Coeur d’Alene, Post Falls, Hayden, Rathdrum and beyond. Contact Tyler Wilson at twilson@cdapress.com.
