Is it the seller or the agent???
Randy Pruthero blogged about a property that was priced $13,000 too high. Here's one that's $110,000 too high. Tami was showing townhomes in a particular St. Petersburg community to clients last week. This particular complex is new, started in 2005 and finished in 2006, with a number of investor purchases. There are currently 23 townhomes on the market plus 2 that are under contract. The two in question are the same floor plan, with 1,481 sq ft and a 2 car garage, both vacant and never occupied. One is priced at $249,900 and the other at $359,900. Actually, the lower priced unit has more upgrades and also has a better location/view. Tami's clients, who looked at all nine townhomes with this floor plan, were horrified.
The company listing the higher priced one was over in Tampa, and the area code for the listing agent indicates that the agent lives even further away. Do they not understand the local market? Did they not see the listing for the other two dozen listings in the neighborhood? Oh, yes, and it's offering a lower commission to the selling office. It does make you wonder who set the listing price, and why.
