The owner of this property figured how to deal with the market: sell at 28% off your last list price and 44% off your first list price in May 2007. The $5.0mln sale price would allow you to downsize into an attractive townhouse or condominium in the center of town, in the event those are your plans, and you would still have some change left over.
I find it noteworthy that the seller is a professional real estate owner and investor. I expect this experience helped him close at a price significantly lower than he originally anticipated.
I can't believe how much prices have dropped in the past few years. Do you ever think they're going to increase again?
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