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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (48456)3/22/2006 3:45:52 PM
From: Tradelite  Read Replies (1) of 116555
 
<<It took a list price of $5k less than we thought to get plenty of traffic through. We are now under contract for $12k under our list price...again, more than we thought>>

Stories like this make me grind my teeth. Nowhere in the story (as published here) does it indicate what the original list price was, and nowhere does it indicate the original list price's relation to recent comparable sales, and nowhere does it indicate whether the eventual selling price paid by the buyer was within a reasonable 95-percent-or-so of apparent market value per a reasonable and timely comparative market analysis. All the seller knows is that the sale took place for less than the seller expected and wanted. Yeah.....happens all the time.

I've met about a bazillion sellers just like this person. Notice the quote from the seller about pricing the house where the seller "thought" it would move. People who "think" what their homes are worth are the very same people who keep real estate agents employed, instead of being able to sell their own homes quickly and efficiently to the buying public.

Just a thought. Not trying to start an argument.

There is such a thing as pricing for the current market, and there is another thing called following the current market down...steadily, grindingly and over a lengthy period of time. If ever there was a case of a seller following the market down, this one appears to have done that, self-admittedly.
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