three acres were zoned for high-density condos. The sellers did not know about the zoning, nor did they know the region was planning to build a new road right past their property. 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: $1,000,000 Comparable Home B: $989,000 Tim and Sue’s Home: $985,000 Comparable Home C: $985,000 Comparable Home D: $973,000 Comparable Home E: $969,000 Tim and Sue appear to have priced their home competitively for the market. Over the next month, the market changes.
Comparable Home A: Expired Tim and Sue’s Home: $985,000
Comparable Home B: $979,000 (Reduced Price) Comparable Home C: $975,000 (Reduced Price) Comparable Home D: Sold Comparable Home E: Pending
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