Overhyping a Token Cut

By Dave Fratello | August 9th, 2007
We know listing language is ad copy.

We know buyers must beware.

But you can still insult your readers with hype and overstatement.

There's a new reduction on "232 30th Place" (not so long ago, 3009 Highlandbefore a mid-listing address change). It's down from $1.369m to $1.349m. To celebrate, the listing now screams:
JUST REDUCED!!! 20,000 smackers!!
Yes, but, it's really just 10,000, er, "smackers." Because as of July 10, the same home was listed at $1.359m. The price was bumped up to $1.369m when it was re-listed with the new address.

There's also this:
This the best deal going so make a move on this quick or it will be gone.
Today, the listing is almost 4 months old. (It began April 10.) Evidence suggests you don't have to move that quickly.

We have to go back to our first post on this home. MBC noted that the owners paid $1.225m two years ago, but it had wildly appreciated in the prior years:
3009 Highland sold for $510k in Oct. 1999, then for $789k in July 2003. Precisely 2 years later (July 1 '03-July 1 '05), it went for $1.225m to the current owners.
It doesn't look like it will go for much more this time.

At $1.349m and 6% cost of sale, the sellers will barely profit ($<45k).

With each dollar below $1.349m, the owners are threated with a net loss.
Does that sort of thing happen in the Sand Section?

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