A house on Sabino Mountain sold today at the list price of $795,000, after just 26 days on the market.
I guess I should also mention that it was listed for 538 days before that, but listed with another agent and at a real pie-in-the-sky price.
So pie-in-the-sky that though those 538 days are officially part of the tally, I don't think they should count.
The first agent listed the house on January 2, 2007 for $1,200,000. And while the New Year brings cheer and hope of good things to come, they may have set their sights a tad too high.
Coming to their senses, but too slowly, they reduced it, and reduced it again and again and again over the following year and a half, but still no sale. Finally that agent and the sellers withdrew the listing, then priced at $899,000, and parted company.
Then the new agent came along and zippity-do-da listed the house for $795,000, and presto, 26 days later they were in escrow.
And under the worst market/financial conditions we've seen in forever, not to mention all the baggage and stigma attached to having been on the market for 538 days prior to. This agent saved their butt and likely their nest egg.
There's no doubt that if they'd listed it for $899,000 when they started in January of 07 they'd have sold it for $75,000 or more than they did today. But by the time they realized that buyers weren't beating a path to their door, they were chasing a downhill market and not catching up.
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