October 9, 2006
“Priced To Sell” Is So Last Month
It’s so hard to keep up with these damn fads. While “Priced to sell” was our catchphrase of the month this past August, it’s looking like “Motivated” is giving it a run for its money in October:
1. "Very motivated seller....Bring offers now!" (On the market for a little over two months, and already reduced four times, 225 26th Ave #3 is now being offered at $130,000 (12%) below its original list price)
2. "Price reduced $120000..Owner motivated" (2186 Sutter has been on the market for 70 days and reduced twice – now 10% below original list)
3. "Seller motivated!" (After just two weeks on the market the list price for 647 29th Ave was reduced $100,000 or 8%.)
UPDATE (9/10/06): Right after we published this post the listing for 225 26th Ave #3 was withdrawn and relisted under a new MLS number and price ($975,000). Gone are the references to the “Motivated Seller” and past reductions. Now about that so-called MLS policy on "refreshing"...
∙ Catchphrase Of The Month: “Priced To Sell” [SocketSite]
∙ Listing: 225 26th Ave #3 (3/2) - $970,000 [Vanguard] [MLS]
∙ Listing: 2186 Sutter Street (4/2.5) - $1,075,000 [MLS]
∙ Listing: 647 29th Ave (2/2.5) – $1,090,000 [MLS]
First Published: October 9, 2006 12:00 AM
Comments from "Plugged In" Readers
Why oh why wont they put any pic's of the sutter street listing. There was also a comercial listing for the bldg's retail space out there too. Anyway, the listing sounded good, but I didn't go because I didn't see any pic's. If they were at all "motivated" maybe they would have snapped a few photo's and posted them on MLS!
Posted by: eddy at October 9, 2006 11:54 AM
How about, "Catch the falling knife!"
Or, "Must sell ASAP: need to make a six figure profit before the next fool gets stuck with 3-5 years of negative equity!"
Coincidentally, isn't it an oxymoron for something over $1 million to be labeled as "Priced to sell?" In this city, I think you need to go under $600/sq. ft. before it's really priced to sell.
Posted by: Dude at October 9, 2006 1:47 PM
Looks like the reduction on the sutter street listing did the trick. Amazing what a 10% haircut will do to a stagnate lisitng! Good move by the agent and/or seller. Wonder if they got a bidding war or accepted a lower than asking price???
Posted by: eddy at October 16, 2006 10:28 AM
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