It is a great corner townhouse, with 2,505 square feet and it was on the market for more than two years because even the banks don’t know how to price their foreclosures.\u00a0 Originally it was priced at over $795k in January of 2007\u00a0so when it sold a couple of months ago, I knew it would be a market changer.\u00a0 This house was reduced to $479 by that time so when the sale price was published last week, I wasn’t surprised to see $400k.<\/p>\n
For the buyers, this was a great deal.\u00a0 It needs work, but it has a three year old roof, a good location and is in \u00a0a very pretty development.<\/p>\n
It could have sold for more and sooner, if the banks had known the market, better.\u00a0 When a seller asks a high price, it doesn’t mean that the buyers will pay more, it usually means, they will ignore it until the price is much lower and by then the economy has changed, less money is available, and the price is lower than anyone thought at the beginning of this exercise.<\/p>\n
There are great deals out there.\u00a0 Call me today to find a deal for you!<\/p>\n","protected":false},"excerpt":{"rendered":"
It is a great corner townhouse, with 2,505 square feet and it was on the market for more than two years because even the banks don’t know how to price their foreclosures.\u00a0 Originally it was priced at over $795k in January of 2007\u00a0so when it sold a couple of months ago, I knew it would<\/p>\n