Want to guess when -- and how much -- the next price cut will be, if it still hasn't sold?
--"What Does a Motivated Seller Look Like?"; City Lakes Blog (9/3/09)
A week ago, I posed the question above after noting this series of price reductions on a Minnetonka home currently on the market:
7/17/09: old price - $595k; new price - $585k
8/7/09: old price - $585k; new price - $575k
8/19/09: old price- $575k; new price - $565k
8/26/09: old price - $565k; new price - $555k
9/3/09: old price - $555k; new price - $545k
Sure enough, the listing history has a new entry as of this afternoon:
9/9/09: old price - $545k; new price --$535k
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