Last Friday afternoon, an investor client of mine called me very excitedly.
"Madeleine, there's a unit at the Mirador that got listed at $120,000," he said. "It's a one bedroom, immediately prepare an offer for $130,000!"
I groaned as I knew the property was totally underpriced and this would be a disappointment for my client. I researched the property and looked at the comps, which were in the range of $165,000 to $200,000. more...