When we last checked in on the Wonder of Woodwork in Woodbridge, the home was in an attempt to rent (for $1,175/month). But this week we learned that the 1,884 square foot home has been sold for $94 K. Built in 1911 and remodeled in 2007, the house has three bedrooms and two full bathrooms. And it is yet another case where the sellers had trouble with the appraisal before getting to the sale. The home had been under contract twice in a year, but the owners gave up trying to sell and listed the place for rent when low appraisals killed those deals. While it was listed as a rental another buyer fell in love with it and managed to get a deal together for $94,000 with an appraisal that supported that. Perseverance! Patience! Luck! No doubt, the owners of this nearby listing are likely hoping that appraisal will help their attempt to sell a Woodbridge home for $87,500.
· $1,175/month for A Wonder of Woodwork in Woodbridge [Curbed Detroit]
· How One Appraiser Can Ruin A Deal: Magnificently Renovated Stone House Fails To Sell (But Is Accepting Offers) [Curbed Detroit]
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