A Malibu Condo's Listing Price Looks More Like The Stock Market.

What was this seller thinking? A condo goes up for sale in Malibu and starts with a listing price of $1,098,000. Many agents that saw it thought it was overpriced. 5 days later the seller drops it to $999,999. A drop of around 10%. 14 days later the seller raises it $1,150,000. An increase of 15%. 3 days after that the seller drops it over 20% and lists it at $899,999 with the following description. SHORT SALE!!!!!!!BRING ALL OFFERS SPECTACULAR MALIBU TOWNHOUSE WITH OCEAN VIEWS AND BALCONIES FROM EVERY ROOM! ENTER INTO AN ELEGANT LIVING SPACE WITH ROMANTIC FIREPLACE, SPACIOUS DINING AREA AND A MAGNIFICENT GOURMET KITCHEN. 2 BEDROOM SUITES UPSTAIRS EACH WITH PRIVATE BATH AND OCEAN VIEW PATIO. CONVENIENTLY LOCATED TO CROSS CREEK COUNTRY MART, MINUTES FROM SANTA MONICA BUT FEELS LIKE YOUR IN ANOTHER WORLD. COME HOME TO MALIBU! It is now in escrow. Sellers who "need to sell" should take note that in this market you really have to price your home at realistic price. Don't play with numbers. Analyze the market and set a realistic asking price. If you don't have offers after 30, or most 60 days, you need to reduce the price before it's too late.