A Loss at 2 Yrs.?

Posted by Dave Fratello on Thursday, April 10th, 2008 at 12:33am.

A terrific, large home hit the market in the Tree Section today at $51k below its purchase price from almost exactly 2 years ago.

3011 Valley is a true charmer with 4br/4ba and 3250 sq. ft. (Sadly, the listing currently has only one pic.) It starts at $1.849m, a tick below the $1.9m purchase price from April 11, 2006.

Of course, the home is on Valley, and buyers aren't generally swarming to homes with location issues these days. That's a reason to be aggressive on price. Whatever the sellers' reasons for getting out now, they appear to recognize that shooting for a big payday would only delay the process.

Don't get us wrong, that's still a lot of scratch for a home on a fairly busy street. It could sit despite the sellers' willingness to take a loss (or perhaps to stick a relo company with one).

But the start price reflects a realistic assessment of the state of things in MB today – flat to negative appreciation over 2 years for homes with issues, such as the issue location presents here.
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