Caught in market downturn, sellers drop condo’s price twice

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المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

Little Italy unit was almost completely ignored until the price was lowered from $649,990 to $619,900, and then to $599,990 over about three weeks in August

The 546-square-foot model has nine-foot ceilings.This July, agent Robin Pope expected this one-bedroom unit might be difficult to sell, especially with other vacancies in the same six-storey building. The reality was even worse - the unit was almost completely ignored.

“After being on the market for two weeks, there hadn’t been a showing, which was unusual,” said Mr. Pope. “But the market was changing. Buyers were not motivated to pull the trigger.”to $619,900 and then to $599,990 over about three weeks in August. Then, an offer came through on the first day of September for the full, reduced price.

“It didn’t matter whether you’re priced at yesterday’s price or today’s price, so many buyers are still making offers much lower than asking,” Mr. Pope said. “We dropped the price to $599,990 to get people excited, but sometimes, it’s a double-edged sword because you might also be giving the buyer the wrong impression. But that’s when you have to be firm on your price.”Cube Lofts was built about 10 years ago with roughly 20 units. This 546-square-foot model has a nine-foot ceiling and window walls along the principal room.The unit comes with stacked laundry machines, a storage locker and outdoor parking. Monthly fees of $609 cover water and heating.

 

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Selling price: $595,000 (September, 2022) Previous selling price: $273,759 (October, 2014) Oh no, the sellers only managed to get slightly more than double what they paid for it 8 years ago

546 square feet

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المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين