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December 15, 2009

Upper Market Vic Sells for $775,000 Under Asking


Does that kitchen scream $2M+ house? 3224-3224A Market first came on the market in April, thinking it was. The 3BR/2BA heavily Victorian home also had a rear studio cottage. List price was $2,450,000.

The incremental price reductions started in June. After five reductions throughout the year, the sale closed last week for $1,675,000.

Are the buyers getting a deal? I’m thinking this is a unique property that was priced way too high to begin with. The property is a bit of an oasis, and the cottage is cute:

So if you see a property you and your agent think is unrealistically priced—and you like it—take a shot. Sellers may be much more open to being flexible, especially at this time of year.

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