Genius pricing

15 Peters Road, a bungalow in Riverside conveniently located next to the Thruway, was purchased at the height of the market in 2007 for $1.125 million and put back up for sale in April 2010 at $1.440. Five price cuts later, it was pulled from the market this fall, unsold despite its lowered price of $1.295. Today it’s back and asking its highest price ever, $1.450 million. The agent and the owner have obviously espied a resurgence in prices for old homes that the rest of us missed. This is what distinguishes top realtors from old no-nothings like me. I tip my hat.

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One response to “Genius pricing

  1. Anonymous

    This new tactic — raising the price again after it has been lowered, is probably somebody’s idea of a hip new strategy. You have pointed out the houses that have been blessed with this new strategy, and none of them have sold, right? Some Realtor is at his/her desk thinking, “Hmmm, maybe if I do exactly the opposite of what the market says, this will be revolutionary, and maybe it will work!”