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Friday, April 16, 2010

Edina's Country Club for $200/sq. ft.

Discounting for an Achilles Heel

Normally, homes in Edina's tony Country Club neighborhood fetch anywhere from $300 - $400-plus per square feet.

The home pictured above, located at 49xx Sunnyside, is selling for $200 a square foot (divide the $850k asking price by 4,233 square feet).

What gives?

It's located just east of Highway 100, and has a highway sound barrier wall running the length of the (back of the) lot.

Enticing Discount

While that's certainly a drawback, the 40% discount also represents an opportunity for the right Buyer (I was just in the home, and the freeway actually isn't much of a factor).

The fact is, every home is a trade-off between multiple, competing factors: price, location, size, condition, and floor plan.

Someone who wants a bigger home in Country Club -- on a cul-de-sac yet! -- but doesn't have $1.5M just might find it intriguing.

Amy Deckas and MaryBeth Goulett of Edina Realty have the listing.

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