Monday, November 14, 2005

Update: 1668 Oak St NW

On October 22, 1668 Oak St NW was blogged about. It was listed at 621K. I t was just reduced to 599K. Sounds familiar.
Posted by David at 3:56 PM

2 comments:

  1. AnonymousNovember 14, 2005 1:43 PM

    I guess I just don't see price reductions like that as very significant. Yes, it's a nice percentage, but overall, you are still pricing as if you are selling to a very elite group. People who can throw $600,000 around probably don't want to live in townhouses.

    The real changes come when this townhouse starts to be marketed to its real customers, i.e., people who want to pay $200-300K at most. Probably will happen in 4-5 years, but this might sell before then to the few remaining die-hards.

    ReplyDelete
  2. DavidNovember 14, 2005 5:00 PM

    "I guess I just don't see price reductions like that as very significant."

    It is very significant bc six months ago price reductions were almost unheard of. Now they are becoming common.

    ReplyDelete

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