Sunday, January 18, 2009

What's selling?

Even in a slow market, even in this market, the bargains slip in and get sold quickly- just like in a good market.
I follow the MLS new listings every day. Every day, without fail. Today is Sunday, nothing new should come on today but there is was this morning, a vintage manse in North Beverly on the South Side. It's a huge house that hasn't been on the market for decades. Something new, something different.
Even in a slow market, the market changes daily.
Last week a terrace unit at 1717 South Prairie came in the low 200s. It appeared like a absurd low price. 2 bedrooms, 1.5 baths, 1,000 square foot terrace. The last unit I sold in this building was a 1 bedroom, 1 bath for $305,000.
I sent the 1717 S Prairie listing out to a couple bargain hunters.
No takers.
This morning for the fun of it I checked the listing.
It's under contract. And the listing agent had amended the listing to say "stop calling."
You can only imagine the inquiries he's had.
Even in a rotten market. Even in an economic downturn- things sell, interesting things surface.
The market changes daily.
This market is no exception.

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