$50,000 Price ReductionWhat's the big deal about a $50,000 price reduction?
They're practically run-of-the mill these days, especially in the upper price brackets.
What you don't often see is a $50,000 price reduction off of a home listed for $250,000, like the one shown above.
For the math impaired, that's a whopping 20% (vs. the more typical 3% to 5%).
Located at 20xx Laurel in Minneapolis' Bryn Mawr neighborhood, this 6 BR/4 BA Victorian with over 4,500 square feet is now listed for $200,000, after being reduced $50k on Wednesday.
Compounding the Seller's misery: they paid $560,000 for it just over three years ago (and, no surprise, the Seller discloses that it's a possible short sale).
P.S.: I discuss price reductions in much greater detail in a post titled, "Nurse! I need a price reduction, stat!!"
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