. . . Capitulation? Here’s the latest pricing activity at what I’ll call “Motivated in Minnetonka”: 7/17/09: old price – $595k; new price – $585k8/7/09: old price – $585k; new price – $575k8/19/09: old price- $575k; new price – $565k8/26/09: old price – $565k; new price – $555k9/3/09: old price – $555k; new price –...Read More
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...Read More
Weekly Price Reductions . . Till it Sells What does a motivated seller look like? This pattern of price reductions comes about as close as anything you’re likely to see: 7/17/09: old price – $595k; new price – $585k8/7/09: old price – $585k; new price – $575k8/19/09: old price- $575k; new price – $565k8/26/09: old...Read More
Cheaper — Not Necessarily Cheap In a recession, everyone’s looking for a sale. So it stands to reason that a home that has just had a big mark-down is a deal, right? Not necessarily. Simply knowing that a home that used to be “X” is now $10,000 less — or $50,000 — really tells you...Read More
A Price Cut By Any Other Name When is a home price cut not a price cut? When it’s billed as “Seller financing” (or other creative Buyer inducements). In a soft rental market, landlords will do practically anything to entice prospective renters without actually lowering their nominal rental rates. By far the most popular gambit...Read More
Resuscitating a Cold ListingClients may not always appreciate it (or even know), but there’s a big difference between what an attentive, skillful Realtor does in the course of marketing a home (a “listing” in Realtor-speak), and what someone less capable or motivated does. To take just one example, consider what happens when a home fails...Read More
