Blog Stories The Christmas Miracle

The Christmas Miracle

By Drew Burchette, December 19, 2018

Whenever a client calls me to sell a house that they just purchase a year or two prior, my heart always skips a beat. Unless you are in a rapidly appreciating market, it is a tall order to recover all of your costs in such a short period of time. On a 5 to 7 year horizon, the seller is much more likely to make a tidy profit.

When the owners of NW Rockwell decided to sell the house that they had just purchased a little over a year ago, we were mostly pricing to mitigate loss. In this situation, the best comp is your own purchase; since it is so recent it is really the best indication or market interest. We ended up pricing a little more than they paid and all of the initial feedback from the showing agents was that it was significantly nicer than the active inventory and the price was competitive. We momentarily considered pricing at a higher bracket, but with the holidays and rising rates looming…they decided not to dilly-dally. And the carrying costs month-to-month were a big consideration too; every month on the market would bring down the bottom line substantially.

After a week on the market, there was a minor-miracle: a solid cash offer that could close in 10 days! We had a few speed bumps through inspections, but we all kept it together to get through closing. All things considered…the outcome couldn’t have been much better for everyone involved.

Drew Burchette

Principal Broker

I arrived in the real estate business over a decade ago and have since helped scores of people buy and sell their homes. The groundswell that I created in my practice is rooted in the relationships that I have nurtured over the years. My style is educational, and I see myself as the coach and leader of your real estate transaction. My coaching is geared towards empowering you to make informed decisions that will lead to your best possible outcome. I excel at asking the questions that get to the heart of the matter which in turn enables a smooth sale process. Away from the office I am passionate about so many things, but it all begins and ends with my family. My boys are both in elementary school and parenting is an ongoing challenge and joy for my wife and I. We love to travel around Oregon, the East Coast, Mexico and beyond. My passion for surfing, kiteboarding, and fishing help to keep me grounded in life. Read more reviews
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