The denial in ER is strong. I had a listing appt up there a few months back. I told them my honest opinion of what they would need to price it at if they “really” wanted to sell. They called me two days later and said they were going to work with another agent who was more optimistic. I asked them what data that the other agent produced to bolster his claims and they said he had many clients lined up. They dropped the price after the first 30 days by 100k. Still nothing.
The bottom line is that the 1M plus homes in ER are getting hammered. In 2009 there are 2 homes closing over 1M. Now there are several pendings over 1M so it will be interesting to see how they play out.
