Morning Update, August 27

A huge price reduction today on Boulder Knolls. A home at 10088 Boulder Knolls, 3/2 of 2,087 s.f. on at least 2 acres, with a guest house has been reduced from $499,000 to $380,000. This is a short sale and it should sell quickly at this price, but it will further diminish the prices for “Comps” of all homes in the area.

A new listing at 27747 Willow Trail, 3,266 s.f. 4/3, and it is a “traditional sale.” The listing price is a variable $499,888 to $549,888. This listing appears to properly use the variable price method, in that the low number gets a price below a psychological barrier, which occur at $50,000 levels at this price range. In usual practice the Seller is looking for a price about mid-way between the numbers.

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