Check out this Craigs list ad.
now at $404 and dropping $1000 every single day!!!!
Beautiful 4 bedroom 2 and a half bath home with heated pool, wood floors. In gated, prestigous Sawgrass Preserve near bank atlantic center and sawgrass mills mall.
fully heated pool and jaccuzzi........ master suite downstairs... 2 walk in closets in master....house faces lake ......2 minutes to 595 and sawgrass expy......2100 square ft.... new 5 ton ac unit.....gas appliances..... 2 car garage.......neutral colors.....gated community..... very low maintenance(about $600 a year).....
Lower and lower it goes. the vultures are circling. Lots of calls and lookers waiting until it goes a little bit lower. Someone will get a steal, why not you. Don't wait too long.
This is what they call "Mark to Market" and you have to hand it to the guy for being creative. The price will eventually fall from his fantasy wish price of 404K to whatever its real market value (The price someone wants to pay) and the house will eventually sell.
I think we will be seeing a lot more of this in the future.
2 comments:
Classic. In fact, that should be a law. Every listing should have to be slashed $1000 for every day it doesn't sell. And no fair starting at some kajillion dollar price. Like on Ebay where you pay a listing fee dependent on your opening bid, listing agents should take such a chunk of a high priced listing, just to list it, that people would start lower. This is great. I hope they all start slashing daily like this.
I think the problem is that many houses are now worth less than the mortgage.
With most Americans having little or no down payment, there is not much room to slash prices without getting into a negative equity or short sale situation.
I do agree with you though. People would find out how much their house is really "worth" if you had your way :)
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