NAR former president can't even sell his home

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southoctracker_IHB

southoctracker_IHB

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<p>In case anyone's missed it, this is one of those stories you couldn't make up even if you tried:





Thomas M. Stevens, who is the former president of NAR and the Senior Vice President of NRT, the nation’s largest residential real estate brokerage, has had his place up for sale for about 766 days on the market. There have been $165,000 worth of price reductions and it's still not sold. <a href="http://paper-money.blogspot.com/2007/11/realtors-follies-slight-return.html">From Paper Economy:</a></p>

<p>quot;This has got to be one of the best indicators of the truly phenomenal downturn the nation’s housing markets are experiencing.</p>

<p>Furthermore, if a sophisticated and leading residential real estate broker and former president of the National Association of Realtors can’t accurately price and sell his own home, then how can any member Realtor be trusted to 'evaluate your situation?'"





<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1207626">Direct link to the listing on Redfin</a>.</p>

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<p>National exposure via Diana Olick and CNBC</p>

<p><a href="http://www.cnbc.com/id/21656207">www.cnbc.com/id/21656207</a></p>

<p>"I didn't listen to my agent. That's what consumers need to do. They need to listen to their agent. If the agent says you need to adjust the price, then you need to adjust that price, we're in a different market today,"</p>

<p>A realtor defender to the end.</p>
 
<p>LOL Anon.... ! </p>

<p>Also, I love how he didn't even choose to "stage" his home..... </p>

<p>This is Schadenfreude to the MAX !!</p>
 
At least they took multiple pictures, though only one of the outside. And you can't really even see much because of the awkward angle it's taken from.





BTW, if he could sell this house at the current asking price, that would equal an appreciation rate of about 12.3% every year since 1979, which is the last sales price showing on Redfin. Little out of whack if you ask me.
 
This house is still on the market. Strange thing is having just recently left the DC area I don't think this house is that overpriced. Great Falls is definitely a premium area and the house is fairly nice and on two acres.
 
<p>From $49,500 in 79 to $1.2M in 2008...that's about 12% a year not bad...homes are less than $250/sq.ft and are on 2 acres down there!</p>
 
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