And now we know ... the rest of the story

Back in December I wrote about a house at 25 Bowman Drive that dropped its price from $2.495 million to $700,000. Here’s what I said then:

Here's an interesting sales tactic — I'll be curious to see how it works out

25 Bowman Drive, in our town’s west side King Merritt Acres, was listed by its real estate agent owner for $2.495 million on October 16th. On December 4th, she dropped the price to $700,000 and changed to a highest and best sales method, detailed as follows:

Remarks: Highest and Best offers due by Monday, 12/11 11AM in SEALED ENVELOPE only. ….

Agent to Agent Rmrks: Owner is a Realtor with Christofor Realty. CALL OR TEXT OWNER Sandra FOR ALL SHOWING REQUESTS … Highest and Best offers are due by Monday, 12/11 11AM. Please PRINT all offers and provide in a SEALED Envelope ONLY on a 4 Page Standard Real Estate Contract with Proof of Funds and Preapproval. No offers will be reviewed sooner. Offers will not be countered.

Obviously (or I think it’s obvious) that drastically lower price was intended to stir up interest and generate (much) higher bids. The first goal was accomplished — the property is reported pending today — but how high did the bids go? We’ll find out when it closes, presumably in a few weeks, so stay tuned.

So, how did it turn out? Very well; it sold to a Florida buyer yesterday for $1.850.