12/3/2016 Listing removed $799,900, $155/sqft Source: SOUTHEASTERN DEVELOPMENT ASSOCIATES 2/14/2015 Price change $799,900 (-14.9%)$155/sqft Source: Blanchard and Calhoun Real Estate 1/25/2014 Listed for sale $940,000 (-3.6%)$182/sqft Source: Agent 7/20/2012 Listing removed $975,000, $189/sqft Source: Blanchard and Calhoun Real Estate 5/7/2011 Price change $975,000 (-9.3%)$189/sqft Source: Blanchard and Calhoun Real Estate 1/26/2011 Price change $1,075,000 (-11.5%)$208/sqft Source: Blanchard and Calhoun Real Estate 6/25/2009 Listed for sale $1,215,000, $235/sqft ERRORS IN PRICE ADJUSTMENTS ARE COSTLY There are times when pricing adjustments may need to be considered. For instance, let’s look at Tim and Sue’s situation:
• Comparable Home A: $368,000 • Comparable Home B: $349,000 • Tim and Sue’s Home: $345,000 • Comparable Home C: $345,000 • Comparable Home D: $333,000 • Comparable Home E: $329,000
Tim and Sue appear to have priced their home competitively for the market. However, over the next month, the market changes.
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