What do you do when your million dollar house isn't selling?

[faster]

On the market for 103 days, originally at 1.2 million.
Lowered to $1,125,000 back in May.
Then lowered to $1,050,000 back in June.

...then raised back up to $1,125,000 just recently?

Mistake, or cunning stategy?
Rumor is the higher end is selling better right?

MLS: 27058122
2014 Nob Hill Ave N
Seattle, WA 98109

http://www.redfin.com/stingray/do/print ... -id=641698

[biliruben]

The more relevant question is what do you do when your million dollar house isn't a million dollar house?

A: Cut the price to $995,000.

[redmondjp]

Don't forget the "PRICE REDUCED" sign out front!

Has anybody else noticed that Realtors don't seem to use these as much as they used to (not that there has been as much of a need for the past 5 years)? In one way it seems like the scarlet letter of the real estate world--basically, an admission that the realtor screwed up and overpriced the property. There's always the implication that there is something wrong with the property as well (well, maybe this has more to do with the number of days on the market, which usually has to do with the excessive price).

[B]

http://redfin.com/stingray/do/printable ... -id=777839

I've jogged past this one several times over the past several months. I recall that it was initially listed well above $1M, has been continuously on the market, and has had at least one, maybe two price reductions.

It is now one of the many newly "attractively priced" $999,950 houses languishing on Seattle's market, due to a late-to-the-party flipper (check out the purchase history on it.)

The amusing thing about this one is that the quality of the remodel is so clearly and obviously hasty, based on the walk through I did during one of the many open houses.

While the professional real estate photogs that everyone seems to be using these days can make anything look good, this flipper-barn is strong evidence that $1M, er, $999,950 doesn't buy what it used to.

[Well, it will probably end up going for closer to the cost of the remodel added to the last purchase price. So $8XX,XXX doesn't buy what it used to.]