The Optics of High-End Sales and Getting the Story Backwards

Nearly every time we read about a high priced sale, there is usually a big discount associated with it. Again, this is not to suggest that a particular market is weak and the sellers gave away the property at a huge discount. Rather it means that the property was significantly overpriced, to begin with, and after a lengthy marketing time, the seller came down and joined current market conditions. That is a good thing for the market.

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