A $400k Price Increase on John

Posted by Dave Fratello on Sunday, July 15th, 2007 at 4:29pm.

Do the people who bought 512 John St. earlier this year really mean to sell it?

They paid $4.075m. As soon as their purchase closed, the home was on the market (2/16/07) for $4.449m (+375k).

It lingered, and the price dropped $100k. Print ads started pitching the house as a rental ($20k/mo.), which MBC discussed here.

Last Tuesday, after 144 DOM, the price shot up $400,000 to $4.75m. No kidding.

Two suggestions for potential buyers: They'll take $4.35m! And that's not a 10% discount.

Also, the flippers' bottom line might be closer to 5% over their purchase price: $4.275m.
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