"Motivated Seller" — The Update

Latest Price Cut: Right on Time

Want to guess when — and how much — the next price cut will be, if it still hasn’t sold?

–“What Does a Motivated Seller Look Like?“; City Lakes Blog (9/3/09)

A week ago, I posed the question above after noting this series of price reductions on a Minnetonka home currently on the market:

7/17/09: old price – $595k; new price – $585k
8/7/09: old price – $585k; new price – $575k
8/19/09: old price- $575k; new price – $565k
8/26/09: old price – $565k; new price – $555k
9/3/09: old price – $555k; new price – $545k

Sure enough, the listing history has a new entry as of this afternoon:

9/9/09: old price – $545k; new price –$535k

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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