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The following link leads to a video on CNN.com about a
guy in Bothell, Washington (Justin Wilcox) trying to
sell his house via a reverse auction (CNN.com
Video Link). The guy has put up his own website (http://www.bothellcountdown.com)
in order to auction off a house that he has recently
remodeled. To me, it sounds like an interesting idea. It
definitely has gotten Justin national attention and
publicity which are both very good things. Now, he just
has to find people who are moving to that area or
investors.
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Justin's intentions are to lower the price of the home
as much as ten thousand dollars ($10,000) every week
until he finds a buyer. I have not seen a dollar amount
floor, but he must have one otherwise the bank(s) will
have to agree to a short sale. He does mention on his
website that he has a lower limit, but it does not state
if that is mortgage limits or something else.
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19833 95th Ave NE
Bothell, WA 98011 |
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Price |
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07/31/08 |
$424,900 |
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07/28/08 |
$439,000 |
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07/10/08 |
$449,000 |
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07/04/08 |
$459,900 |
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06/26/08 |
$469,900 |
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06/20/08 |
$479,900 |
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05/31/08 |
$499,900 |
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This is the price on
Justin's house when I last
checked. Check his website for
the latest price. I will try to
update this price as possible.
(http://www.bothellcountdown.com)
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I applaud Justin.
Anything that it takes to sell a house nowadays is
praise worthy. I hope he does well; and if it works, I
am doing the same thing with
my three
properties very soon. I have signed up for email
notifications on his website as for when he drops the
price. I will try to update this blog entry as he makes
changes.
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I
certainly extend my heartiest best wishes to you,
Justin. Good luck, and we all hope you sell it for at
least breakeven - but, of course, preferably more.
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All of you out there reading my website and blog entries
and watching Justin's video, have you done anything creative with your property in
trying to sell it? Tell us. Maybe we can generate enough
interest for you to get you on national television like
Justin. You can email me (Noah@ShortOnChange.com)
or add a comment on the blog page (comments).
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