Tinkering Won't Save ItPosted on Thursday, November 12th, 2009 at 5:18am.
One reason is that no one is getting out whole from 2007 acquisitions these days. We're living in 2004 prices all around town. (See "How Resales of '03-'06 Purchases Are Faring.")
Just one recent example of an '07-'09 loss: 2613 Oak sold for $1.199m, down $186k (-13%) from its March 2007 price.
So, we're not betting on the rabbit turning up in El
Then why the little tinkering with the list price?
Whether the change reflected a data entry error or a change of heart doesn't really matter. If this home is going to sell, there are going to be much bigger adjustments in the opposite direction.
The nearby short sale at 201 43rd – a newer home with the same number of bedrooms (3) and a little more square footage at 1800 – isn't going to help at all. It's priced lower now at $1.399m.
And did we mention that the holidays are coming up?
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