fredster20, Home Buyer in Boxford, MA

Just curious why the 1 Mill St. in Middleton listing would raise the asking price when it has not sold in over 6 months???

Asked by fredster20, Boxford, MA Tue Feb 5, 2013

This question was asked from http://www.trulia.com/property/3058326236-1-Mill-St-Middleto…

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4
Karin Turner’s answer
I believe it is a marketing strategy. With a new price, even an increase, the listing will come up on agents and buyers radar again. People will wonder why the price went up and start to look at the listing details and pictures again. This will bring the old listing fresh into every ones mind and now that the inventory is so low, buyers may actually be interested in the home again.
0 votes Thank Flag Link Tue Feb 5, 2013
Here is the property history:

3/28/2012 Listed for $688,900
9/16/2012 Price Changed to: $664,900
EXPIRED FROM MARKET ON 12/29/2012
1/20/2013 Price Changed to: $629,900
WITHDRAWN FROM MARKET 1/27/2013
BACK ON THE MARKET 1/29/2013 and the Price Changed to: $657,500
So, yes, they dropped the price to $629,900 for 9 days, pulled it from market and then re-listed at a higher price.

Here is the property:
http://territory.com/mlspin/71358436/1-mill-street-middleton…


Territory.com
Massachusetts Premier Buyer Brokerage
617 848 5407 x701
Web Reference: http://territory.com
0 votes Thank Flag Link Tue Feb 5, 2013
Actually this listing @ $657.5k is the lowest it's been listed on the market since it was built in 2004. It was on the market up until last july for $709K.
0 votes Thank Flag Link Tue Feb 5, 2013
No, it was listed for $629,900 on 1/20/13 according to MLS.
Flag Tue Feb 5, 2013
There are several reasons but not knowing it hard to say.

1- Its a short sale and the bank is requiring certain proceeds. It is not listed as a short sale though.
2- Sometimes sellers realize they need more proceeds for a pay off, they have forgotten a home equity line of credit or a second mortgage. Not likely but I have seen it happen.
3- Its a marketing strategy, now that the spring market is coming and prices are rising in some communities.

Those are the reasons I know of, but I'm sure there are others.
0 votes Thank Flag Link Tue Feb 5, 2013
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