51% Off!

I’ve certainly seen price reductions of $77,900 (or more).

But, I don’t recall ever seeing one for that amount (yesterday) off of a home listed for $152,900.

If you’re doing the math, that’s a reduction of almost 51%(!), to a new asking price of $75,000

The home, located in South Minneapolis’ Regina neighborhood, has a 2011 tax assessed value of $166,000, and is billed as “move-in ready”; according to MLS, it’s also a potential short sale.

Hurry Up and Wait

So, did that gargantuan price drop succeed in getting the home sold?

Any bidders will have to cool their heels to find out.

Awhile, in fact.

According to the “Agent Remarks” field on MLS, the owner is “taking offers for this property until midnight 11/8/2012” (almost two weeks from now).

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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