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The Money You "Lost" in Your Price Reduction Wasn't Real
This is an awesome "tongue in cheek" article about pricing your home to sell. Thanks to J. Phillip Farranda in New York for sharing this cute way to look at how the BEST homes are being chosen first and even are being fought over.
Blessings, Jill
With a median home price hovering near $700,000, even a modest price reduction on a Westchester County home can be tens of thousands of dollars. I have to approach a reduction with the diplomacy of a funeral director but be as convincing as a physician imploring his patient to quit smoking. 
No one could predict after the stimulus where prices would go, but it is clear that what few buyers we have are skimming the absolute cream off the top and leaving the rest. They even fight over the good stuff, creating an illusion of urgency in isolated precincts. Overall, sadly, median home price is an illusion; it is a metric of the value of those few, unique sought after homes that people watch even when they weren't on sale. They needed nothing. They were priced to the bone for their category. 
Money lost in a price reduction was never your money. It was an illusion. It didn't exist. ... more

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