After Pope Leo XIV was elected leader of the Catholic Church, his childhood home was quickly taken off the market, likely due to a spike in interest driving a potential price increase. The property, initially listed at $199,000, will now be sold via sealed auction starting at $250,000. The article discusses how viral listing trends can impact real estate pricing, emphasizing the importance of aligning market fundamentals like location and comparable sales, and the role of a knowledgeable agent in navigating these opportunities.
Going viral brings attention-but it doesn't guarantee value. When pricing a famous home, I always start with the fundamentals: location, condition, and comparable sales.
The buzz the home has generated suggests that it will sell for well above market value, with the opening bid at $250,000-a full 25% more than its estimated value.
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