Feb 28 2008
How to Chop it Right! Big Price Reduction Brings the Buyers.
A lesson for Sellers. There is a really great house for sale in Malibu that went on the market in Feb. of 2007 at $4,775,000. A few months later the owners dropped the price to $4,575,000. On Jan. 24, 2008 the owners went for the big chop and dropped the price almost $800,000! It soon had buyers swarming and the offers came in. That’s a million dollar price reduction in a years time. (There was a sale pending but it is showing as active in the MLS) Bottom Line. If you want to sell and you don’t have offer’s in the first month or two, get aggressive and start chopping.
The home is listed with Wendy Jensen at the Coldwell Banker Malibu. It’s one of the best deals I’ve seen if you want a ~4000 sq. ft. private house with an easy walk to the beach.
