Dollars and Jens
Thursday, June 29, 2006
Moderate Inflation is Good
Because prices are sticky:
After having her home on the market for nearly a year — with about 30 showings, multiple price drops, and only one not-so-tempting offer — Phyllis Troia decided to try something different. Very different.Of course, a seller could also try the same tricks and hold out for an excessive price in a hot market. But I suspect it's more common when the market-clearing price is falling than when it's rising.
She and her husband put her Dutch colonial in Plymouth up for auction, to be sold to the highest bidder.
[cut]
After the weekend, there were nine bidders — a very promising development. But in the end, she was not satisfied with the final two bids, and exercised her right to close the bidding. She's now moved on to a for-sale-by-owner model.
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