Sunday, June 15, 2008
Checking in with and old friend
2 months ago I award the delusional seller of the month award to the owner of 16340 Highgate in Riverside. Even with several comps priced in the mid 500's this dreamer priced his palace at 1.4 million.
So, what's he up to (or down to) now?
Well, after a few days at 1.4M he dropped the price to 1.2M. Of course that didn't help much being that he's still $700k over his competition. After a couple of more weeks he dropped the price another 200K to $999,999. Surprise, surprise, surprise it still didn't sell.
So how much do you think the dreamer whacked the price the next time? He could have taken notice of one of his comps at 17209 First Light, now priced at $449k. Any guesses as to how big his next price cut was?
Ready for this...... it was
He dropped the freakin price from $999,999 to $999,998. Yup, that will get him a buyer for sure.