I encountered a home for sale that was significantly overimproved. It was originally listed 90% higher than the median sales price in the area. It eventually sold after 3 months but for only 35% above the median sales price. This was during a red-hot market where homes were going under contract in just a few days.

The size of the home was comparable with its immediate market area, but a home of similar quality was nowhere to be found. They put SO MUCH into this home. It was gorgeous and insanely well done!

Here is the real question: Would you rather sell a home for $275,000 less than expected and save $50,000 on the lot, or sell it within $100,000 of your target and pay that extra $50,000 for the lot? There are so many things to learn from this scenario, but here in lies the biggest one: Location. Location. Location.

These are not easy conversations to have after the improvements have been made, especially when the problems could have been avoided with a simple consultation. I wish I could say these conversations were rare.