Efficient Markets: Price Cut At 83 Downing Street

Whew, that was quick! The asking price at 83 Downing Street, Monday's House of the Day, has been slashed from $1.55 million to $1.425 million and the sellers are "motivated" according to an email sent to brokers. It's a step in the right direction, to be sure, but we bet they'll have to go a little further. This could be a good one to employ the old Barbara Corcoran strategy of underpricing to create a bidding war. At $1.3 million, the sharks would start circling and you might end up at $1.35 million. Decide for yourself at the Open House this Sunday at noon.
83 Downing Street [Corcoran] GMAP P*Shark
HOTD: 83 Downing [Brownstoner]

By Brownstoner at March 23, 2006 10:30 AM | Comments (3)