Thursday, September 14, 2006

Most Condos Have Bathtubs

http://www.condoflip.com/condo_flip_panic_buttons.asp

The site proclaims "Bubbles Are For Bathtubs" proudly on its front page. However, it has a traffic-light-style system for liquidation:

"If you are a seller using Condo Flip, we give you an opportunity to lower your price to a point that makes your condo irresistible to another buyer. Essentially, you are creating a dramatic price drop."

In a listing, green is a seller asking for a profit; yellow is essentially break-even; red indicates willingness to take a loss. I browsed through the listings and there's not many reds to be seen yet, but watch that space.

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