Late Fall Buying Opportunities, or,
“Perils of Overpricing”
This Cape Cod-style 1 1/2 story in St. Louis Park’s Fern Hill neighborhood originally came on the market almost six months ago, at $539,900.
Now?
The price just dropped again (yesterday) to $329,900 — down over $200k(!) from June, and a substantial discount from the tax assessed value of $371,300.
What’s wrong with it?
My guess(es): a too-high initial asking price that has prospective Buyers overly skeptical; and the fact that it’s now a potential short sale.
Add the two together, and — for the right Buyer — they spell an opportunity . . .
