Sellers Competing Against Themselves: Exhibit A
I’ve certainly seen plenty of listed homes that seem to be stuck in a time warp: seasons come and go, Presidential administrations change — and yet the list price stays the same.
And then there’s this house in St. Paul’s Highland Park neighborhood.
Since debuting on the market scarcely one month ago, it’s had the following price history:
May 4: listed at $699,900
May 10: reduced to $674,900
May 15: reduced to $649,900
May 18: reduced to $624,900
May 21: reduced to $599,900
May 29: reduced to $574,900
June 1: reduced to $564,900
June 4: reduced to $549,900
June 6: reduced to $524,900
Someone who’s interested in this house — and isn’t afraid it will sell first — might plausibly sit tight a few more weeks (days??), and see how much lower the Seller will go.
P.S.: I’m sure there are some Realtors out there who’d say that an overpriced-but-motivated Seller is an oxymoron, i.e., if your home is overpriced . . . you’re not motivated.