The Tortoise and the Hare: A True Story

posted on June 9th, 2008 filed under: Real Estate News

A house in the Miami area was bought for about $700,000 in 2005 and immediately re-listed for about $950,000.  An interested buyer offered about $800,000, thinking that worked out to a fair profit for the owners on their one-month investment.  The offer was a non-starter, and the owner subsequently raised the price well into seven figures, to about $1,300,000.

The house never sold.  It’s now listed as a short sale for about $750,000.

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posted by // This entry was posted on Monday, June 9th, 2008 at 7:28 pm and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.

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