A price cut on Dingletown

16 Dingletown Rd

16 Dingletown Rd

16 Dingletown has dropped its price from its April listing price of $6.150 million to $5.950. That’s a start, I suppose, but it brings up an interesting phenomenon: sellers mistaking asking price for fair market price. The builder of this house originally priced it at $8.995 in 2008, which was preposterous, as noted here. It eventually sold three years later in December, 2011 to these owners for $5.6 million. Which wasn’t a bad price – I liked this house, within reason, but was just about what I’d thought it was worth originally (see previous link). But I suspect the buyers looked at that original price of $9 million and figured they’d gotten a steal and felt justified pricing it for $550,000 more than they’d paid for it the year before. Happens all the time, and sellers are disappointed all the time. As I cautioned one of my own clients who was thinking along these lines, he’d set the fair market price for his house when he bought it, not when the seller erroneously listed it for $1 million more.

3 Comments

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3 responses to “A price cut on Dingletown

  1. Walt

    Dude –
    You have been moribundly silent on all these scandals now surrounding the Chicago Sewer Rat in Chief.

    Why is that? Writers block? Try standing up when you write, to take some pressure off of the brain. Or is it out of pity for your wretched little bunkmate, Francis? YES THAT’S IT!! I would like to hear his take on some of this stuff, particularly the Administration’s desire to CONTROL THE NEWS!! YES THAT IS RIGHT!!

    http://news.investors.com/ibd-editorials/052013-656923-fox-news-probe-shows-white-house-effort.htm

    And using the IRS to target and harass innocent citizens, who have differing views than the Lib’s. It is staggering how many people have no problem with this. And the Chicago Sewer Rat in Chief NEW NOTHING!!

    People don’t seem to be alarmed by ANY of this. A dead Ambassador? As Hillary said “what difference does it make?” It makes a big difference, you ignorant slut. Not you Dude. Hillary.

    And if they do it to reporters, where does it stop? Suppose they wanted to shut down your blog. Is that ok? And not for legitimate artistic differences, like the fact that you can’t write. NO!! Purely because they disagree with you.

    THIS IS EXACTLY WHAT IS GOING ON!! It is what the Nazi’s did!!
    So what say’s Francis on this? Comment? COMMENT!!

    Your Pal,
    Walt

  2. Maybe the property would move more quickly if they planted some berry bushes?

  3. Al Dente

    I just can’t say “Dingletown” without chuckling.

    Also – dog lovers must watch this – get your Kleenex – happy ending:
    http://www.huffingtonpost.com/2013/05/21/tornado-victim-barbara-ga_n_3312226.html