San Diego Housing Market News and Analysis
17231 Camino De Montecillo, Fairbanks Ranch (odd seller behavior)
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Submitted by raptorduck on June 5, 2008 - 6:01am
Ok, I know I did not post much about specific properties when I was looking for a house, but I am keeping my eye on properties I have looked at to see what happens to them.
17231 Camino De Montecillo in Fairbanks Ranch was a house I toured, but was not interested in after looking at it. It is a massive 10,000+ house on a lake in Fairbanks Ranch. It even had an elevator. We did not like it because it was not our style, the finishes awkward, and the spaces were isolating and not well thought out. It also felt small, for such a small house. Even the lot felt small. Otherwise, it seemed in decent shape.
What made me suspicious at the time was the pattern of asking prices back then. Seller started in the mid $4 million range and had lowerd the price down to about $3.5 million when I looked at it. But in between he had raised the price a few times. Then later he took it off the market, waited a bit and relisted it. The new listing price was in the mid $4 million range again. Then the same pattern of lowering the price to the mid $3 million range and with raising it in there a few times. Then again taking it off the market.
Most recently, the same exact pattern. Relisting it in the mid $4 million range, then reducing the price to about $4 million, then increasing it to $4.4M, then reducing it to $3.6M, then increasing it to $4M, then increasing it again to $4.4M.
What the H@! is going on here? It looks odd enough when you look at this listing now. Add to that the fact that he has listed it twice before with the same pattern and I looked at this house about a year ago. This does not look like logical, rational seller behaviour, but being that I give sellers the benefit of the doubt and always assume they are smarter than I, this one is so smart, I can not figure out what he is trying to accomplish with his rollercoaster/wheel-of-fortune asking price lotto.
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