Laredo short sale

A Laredo that has been on and off the market since February of 2007 has gone under contract. The home was priced at $249,000 at the time of contract. But, back in 2007, the seller was asking $399,900.

Take a look below at the pricing of this home and you will once again see what I refer to as "chasing the market down". That means: A seller pricing to high, usually with the thought that "I can always come down", but ending up always one step behind the declining market...with terrible consequences.
Here is the pricing progression:

1. $399,900...2/2007
2. $379,900...8/2007
3. $359,900...11/2007
4. Off the market from 4/2008 - 9/2008
5. $349,900...9/2008
6. $329,900...11/2008
7. $299,900...1/2009
8. $275,000...8/2009
9. $249,000...10/2009

If you are selling now, or thinking of selling; don't make this mistake. Even if you are not our client, make sure that the agent you have now or eventually hire advises you honestly about pricing and can support their pricing recommendation with solid market data...