Price drops 154K; NYT gets curious
by Hawes Spencer
published 7:36am Saturday Jul 19, 2008
published 7:36am Saturday Jul 19, 2008
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It seems that the $695,000 Scottsville-area house for sale that appeared earlier this week in the New York Times is the $849,000 Scottsville-area house that Brevy Cannon wrote about in the Hook three years ago.
Well it does have slightly less acreage now. It never sold and that just goes to show how insane listing prices were during that time. Do not confuse listing price with market value.
Listing price and market “value” are so different nowadays that it’s as if the Seller’s math comes from Mars, and the Buyer’s comes from Mercury.
And then there are some Realtors whose math seems to come from the Wild Blue Yonder when they state a Tax Assessment figure in a listing, as if this actually has anything to do with pricing a house in 2008….
the semi-colon in the headline makes it seem like the reason the nytimes is ‘curious’ is due to the price drop.
is the price drop really why the property is featured in the nyt? or is it b/c they were looking for something ‘representative’ in this area?