Sold: Recent Home Sales in the Mendota Heights Area

One home has closed in Mendota Heights, Mendota and Lilydale since May 18, selling at more than $25,000 below the list price. This was a short sale and the price difference may indicate that the banks approving negotiations are starting to be flexible.

Buyers should be wary of low-balling on a property they absolutely love and want to live in, but if you’re a buyer and are willing to lose on one short sale offer, offering five to ten percent less than list sometimes works. However, if there are multiple offers, this might not be the best tactic to take. This home closed last week:

1) 26 Somerset Rd., Mendota Heights

Listed by: Lakes Area Realty of Golden Valley

One and one-half single family home

Three bedrooms, three baths

Days on Market: 91

Closed: May 23, 2011

Original List Price: $239,000

List Price at Time of Offer: $239,000

Sold Price: $220,000

Seller Contribution: $6,000