Selling a 7 million-dollar home is more challenging when compared those in the 500k range and it really hasn’t got anything to do with the price tag. The buyers who can afford this price tag have high expectations. Both price points subscribe to the same principles when placed on the market. At the very least the property must have curb appeal, stand out amongst its’ competition, must be priced to sell and have a strong marketing plan. Selling an estate takes more than a few plantings flanking the gate to get a buyer in the door. For the past two years, I’ve passed by a large “For Sale” sign out in the field of a gorgeous estate. I think about what is going on with the sale or lack of one? As a home staging consultant, I wonder what the interior looks like and how is this house presented to the modern-day buyer? From the road on the backside of the property I can see that it large French styled mansion. I could easily imagine this gorgeous, one of a kind home on a Monserrat hillside. In fact my research showed that indeed this home was owned by European business moguls and royalty. The views of the Blue Ridge mountains one can only imagine are breathtaking. The online photos show the formal gardens are exquisite. I have a million other questions racing through my mind like, why was it built here? I digress and perhaps I need to get back the chestnut in the chicken feed. The point is, selling this type of home, in this price range, in this area, is challenging enough. But selling this home to today’s buyers, which is my forte, is the conundrum. Selling this home is like selling a museum not a home and will need “taste specific” buyers. From what I hear around my town, updates have been minimal and there is much work to be done to this 1958 property. Buyers in this price-range can build their own home with custom bells and whistles. When selling any house, there is always money to invest up front to make sure the house shows at its absolute best. This house is beautiful; it has a romantic authenticity and Blue Ridge mountain views. But, to bring in wealthy buyers they must adjust the price or do the renovations. It is the same for any home but especially for those in the luxury category. Even though it is in Charlottesville Virginia, this home will need a global marketing plan. Until that happens, it could be two more years on the market.
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