Previous Purchase: 8/26/10 - $1,395,000
Listing History: 5/31/11 - $1,695,000
Reduced down to - $1,595,000
In my last post I discussed the upgrades that they did to the house post the 2010 purchase. I also said that I didn't think they had a chance of getting their asking price. What they are doing now is the right thing to do and other delusional sellers should take notice. When you don't get bids or if you only generate bids well under your asking price during the first few weeks on market, you need to cut the price ASAP before your listing gets stale. This price cut here may not be big enough on its own but it signals that the sellers are ready to deal. Finally, I don't think this is a flip.
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