March 20, 2006
Update: 2257 Green Sells (Spoiler Alert…)
Our previous coverage of 2257 Green Street generated a fair amount of buzz, intrigue, and speculation. You might remember that this house was originally listed at $5.2M, was later reduced to $3.495M, and was finally reduced to $2.595M.
We also reported that according to Zillow, the house last changed hands on 5/15/2000 for $3.0M. And that Zillow estimated that the house should be worth approximately $3.77M.
Well, according to our sources, the actual contract price appears to be…$2.9M. And while it’s sure to be reported as ‘12% Over Asking!’, it’s also $100K below what the sellers paid in 2000, 44% below it’s original asking price, and approximately $870K, or 23%, below Zillow’s estimate.
Somebody A lot of people have got some a lot of explaining to do. [Note to buyer: don't forget to invite us to the housewarming.]
First Published: March 20, 2006 1:30 PM
Comments from "Plugged In" Readers
This is why all the criticism of Zillow is lame. Even the people who are actually buying and selling the property don't have a clue what it's value is!!
Posted by: pwb at March 20, 2006 3:53 PM