Wednesday, September 24, 2008

Funny thing happened a few weeks ago

Funny thing happens when you price a property close to the market (and what happens when you chase the market down). My listing at www.840NorthMichigan.com has been on the market for about 7 months. For the first 6 months I had no offers. But I had an open house every single weekend, a ton of marketing, and price reductions here and there. The property is beautiful, I just couldn't get anyone to give us an offer. Funny thing, we dropped it from $775k to $764k and about 2 weeks later I got 4 offers in 3 days, and 3 were at asking price. Anyways, it's set to close in a few days with a cash buyer. Pretty wild.