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A Million Here, A Million There
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William O'Neill's home in Calvert County has been on the market for more than a year. But he hasn't budged on the $999,999 price because he thinks it's right.
His agent, Michele Rockhill of Long & Foster, advised him to keep the home under $1 million. Buyers tend to group prices in $50,000 increments when organizing their searches. By asking more, she told him, O'Neill would miss potential buyers.
"Besides, doesn't $999,999 sound cheaper than $1 million?" Rockhill asked. "One dollar makes all the difference in the world in the buyer's mind."
O'Neill has lived in the house since his parents moved into it 61 years ago. He inherited the property with his sister when his parents died. O'Neill now wants to downsize.
The 1936 Colonial overlooking the Chesapeake Bay has its own bayfront pier.
Unlike many of the newer and pricier homes in the county, it's not in pristine condition. The kitchen needs major updating. The house lacks air conditioning. There are cracks in some of the walls.
But the house has "good bones," Rockhill said. The walls are plaster. The floors are oak. The roof is slate.
O'Neill figures his home would fetch a higher price if he invested time and money into upgrading it. But he'd rather not.
"I fear I would do all that, and then somebody would just come along and tear it down," O'Neill said. "Frankly, I'd cry if I saw all the money I invested ripped up in a dumpster."
