Venice in La Gorce

A Venice model that backs up to Winston Trails Blvd that was priced at $305,000 for a bit over 3 months has just reduced their asking price to $290,000. Interestingly, this home was also on the market by the same owners from April of '07 to April of '08 and priced at $395,000 the entire 364 days.

I recall that we met with these owners back in 2007 and suggested an initial asking price of $350,000...but, these owners did not "like" our suggestion and did the old "selecting an agent based upon the highest suggested listing price"...and here they are today, 10's of thousands of dollars gone.

Whomever the agent is that you select to market and sell your home, don't select that agent based upon the suggested asking price...often it is the LEAST capable/experienced/honest agent that will give you the highest CMA estimate.