As I post to my blogs from my little piece of paradise here on the coast of Florida, more than once I have lamented about the poor pricing practices that are dragging down the market. You can go back through my posts to find these Case Studies of seller's who did not understand, no matter how educated or intelligent, the proper pricing of homes. This is exacerbated by real estate agents who go along with this pricing in hopes of finding an uninformed buyer. Sure, there are plenty of them out there!
So here is today's take on the pricing issue: The oceanfront manse pictured above at 1370 S. Ocean Blvd. in Manalapan just sold for $12 million.
The property last sold in June 2009 for $22.45 million. The seller was Germantown-Seneca Joint Venture of Maryland, the buyer MGM Design LLC of Illinois.
So, even though this is an oceanfront mansion, they had to drop the price nearly $ 5 million or 20% to make the sale. If your home is not selling, it is positioned wrong....period!
So, even though this is an oceanfront mansion, they had to drop the price nearly $ 5 million or 20% to make the sale. If your home is not selling, it is positioned wrong....period!
Check out: http://www.coastalfloridarealestate.net/
Then, send along to your friends.
