I need some help on this....Here's a listing I just don't understand...
MLS # 70125618
Sold 5/23/05 for $425,000
Listed 12/12/07 for $275,000
Reduced 1/7/08 to $229,999
Pending Sale and Increased 2/4/08 to $275,000
It's a short sale for starters, so I know the bank has to approve the price. But, how can you convince a buyer to pay nearly $47,000 above list price on a house, when there are 76 other houses in Elk Grove listed in MLS at less than $275,000 which are larger than this one? Could it have anything to do with this line in the agent only comments:
"WOW 4.5% Commission"
Just when I thought I'd seen everything...