March 2008 Sale at Moana Pacific Honolulu
Here is yet another example where the seller and/or the seller’s agent did not listen to what the market was saying. If you are selling your property, don’t make the same mistake.
Property: Moana Pacific
1296 Kapiolani Blvd. #3303, Honolulu, HI 96814
| May 11, 2007 | listed at $910,000 |
| Nov 14, 2007 | reduced price to $813,000 |
| Feb 9, 2008 | reduced price to $799,000 |
| Feb 29, 2008 | sold for $770,000 |
| Mar 25, 2008 | escrow closed |
Total days on the market: 296
Sold at 84.6% of original list price
There is so much we should learn from this sale:
1. Sellers should carefully select a competent agent who isn’t afraid to arm them with the truth. Knowledge is power and I’ll help you select a reasonable sales price.
2. Choose your listing price wisely.
3. If your home isn’t in escrow within 3-4 weeks, it’s over priced.
4. The longer your home languishes on the market, the more power you transfer to the buyer.
5. If you truly want or need to sell your home, do it right by setting a realistic price. Contact Michael Zimmerman for help. I like to do things right the first time.
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