Today's new adventure in "distressed" properties
By Susan Walters
(Keller Williams Realty, Ann Arbor, MI)
First let me say that pictures don't do a property justice - it can go either way. I have listed and seen some marvelous properties whose attributes could not be adequately presented via photos or virtual tours - even the expensive virtual tours with the "you are here" vantage points.I paid for one of those, once. The listing expired eventually and the sellers declined to relist. They had no problem with me, they just didn't need to sell. They were looking forward to downsizing to a ranch from a 2 story if they could get their price - they couldn't - and I couldn't persuade them to lower the price. They had about $680,000 in equity, at the list price. A reduction of $25-50,000 would have done it, I think. Ahhhh, motivation. They are going to wait out the market and hope for be...
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