When I met with the guy, and he is a very nice guy, I recommended that I didn’t believe he would get more then 550k based on the location of his unit and the market conditions. He bought it for 620k. At the time he had it rented out and had a negative cash flow of several hundred bucks. I noticed when he expired in December he had chased the market down to a price range where the low end of his price was 575k. Right now I am wrestling with the next recommendation. I believe it will be in the low 500 range at best. His unit faces the courtyard and it is only on the 5th floor. I am supposed to meet with him this weekend to go look at the unit but I haven’t received confirmation from him on it. I gave him my preliminary thoughts today and that probably turned him negative on me once more. I told him that if he wants I can price it higher, but that I wanted to give him my honest recommendation.
