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Example of Price Decrease in West Palm Beach

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Jungle Boy

Senior Member
Joined
Oct 30, 2002
Professional Status
Real Estate Agent or Broker
State
Florida
These are the 4 most recent prices expressed as a percentage of their prior sales prices in a nearby condo complex.
These properties all closed between $400,000 & $505,000 in 2006.
All were new construction in 2006, with some having gone under contract in 2005.

56%, 52%, 39%, 55%.

The first one is the current Asking Price, so it may actually close for much less (assuming it closes, that is :fiddle:).
The second one is also an Asking Price.
The third one at 39% closed in mid 2006 for $466,000. This one is currently pending - the asking price was $179,900.
The fourth one closed in 03/08 for $275,000 . The prior sales price in 2006 was $505,000.

I lost my "best" LO client in late 2005 / early 2006, because I refused to overlook the resale market conditions within this particular complex.
Later, after losing his job, the LO went to work at a conservative bank, and started using me again.
BTW- the original bank which my "best" LO client worked for in 2005, still sends me a few requests each month.
 
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