Steven Keefe, Broker/Owner
Coldwell Banker Sky Ridge Realty 
www.mountainmoves.com
steve@mountainupdate.com
909.336.2131
This last week, David Vail with CAPRE a local competitor of ours reported a sale as closed that sold for $4.150 million dollars less than the original asking price.
In November of 2008 David listed 27818 Palisades Dr. in Lake Arrowhead, a lakefront property for $6,450,000 according to the Rim O' the World Association of Realtors. During the 12 months or so he had it listed, he had reduced it one time to $3,995,000 which was the last published asking price when it was reported as "under contract" a month or so ago. Last week it was reported as sold and closed escrow at $2,300,000.
Often sellers will list high hoping for a miracle. In most instances, sellers with this strategy fail to accomplish their goal, and move from agent to agent gradually reducing the price until it either sells, or they quit trying. It isn't often that an agent (in fact probably never) has successfully reduced a list price by over $4,000,000 and closed the deal. Congratulations David, somebody call Guinness, we might have a world record.
Comments