This afternoon, I got an email from an agent inviting me to a broker's lunch tomorrow afternoon so I could preview his listing, which is being offered with a hefty coop commission to the buyer broker who sells the place.
But here's the catch.
It's priced for more money than it was worth on the best day in 2007! And it is in one of the few neighborhoods in DC with short sales and foreclosures.
I'm familiar with the house, because I sold it in the 1990's. It's changed hands once since then, and it doesn't look like it's had a huge amount of work done since it last sold in 2004 - for a whole bunch less than the current asking price.
It's not a bad house. It's what you'd call a "starter" home, but the asking price in the mid-$500's is beyond the budget of most starter buyers.
Now, I will acknowledge the listing agent for his marketing efforts. But sorry, kid. The best marketing plan in the world, complete with a big feed for your colleagues, a big commission to the selling agent and anything else you can come up with, cannot overcome a price that is just way beyond the current market value.
Alas. Sad, but true!
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