no sale for 112 days? try raising the price!

[femto]

[Alan]

[deejayoh]

[rose-colored-coolaid]

[Alan]

[Alan]

[jillayne]

[laxtosnoco]

[femto]

Seem to have finally gotten the message--priced just dropped $40K (a net drop of $20K from before the increase and per the listing now $75K off the original asking price) and the kickbacks are gone. Hopefully they're not going to be chasing this market much longer, but I don't have any feel for what that neighborhood is worth--anyone ready to predict a bottom for Magnolia?

[carlislematthew]

Check out the pictures! It's listed as a "2+ bedroom" and the pictures show you why. You can see a bed in the unfinished basement with the unfinished ceiling right above it!

There is no way this house is 2000 sq ft.

[pumpkin]

Boy, that is one tiny, dinky looking house. Over 2,000 ft2, huh? The house doesn't seem to be a "Magnolia style." I will say that I have noticed huge drops in Magnolia homes -- too bad we don't have the stomach to live there again.

[carlislematthew]

" too bad we don't have the stomach to live there again."

Why not? The commute was bad, or something?

Serious question....

[S-Crow]

It is quite possible that the financing by a lender under these circumstances would structure the loan in this manner. It is not the seller that is actually paying the mortgage per se: wouldn't happen, couldn't happen.There are lenders "out there" that are doing this to assist sales. It's a bit complicated to discuss on the board, but the point is that the seller is not really paying for the mortage---the 3mos or 6 mos of payments are perhaps placed into escrow where the payments are drawn from. Loan officers would be able to explain the program best.

[S-Crow]

Cute house. But, is that daylight shining from beneath the front door?

[pumpkin]