To: jeevacation©gmail.com[jeevacation©gmail.com]; jeevacationegmail.com[jeevacationGgmail.com] From: Peggy Siegal Sent Mon 10/3/2011 6:53:50 PM Subject Fw: Robin Lane, Alpine Title: Fw: Robin Lane, Alpine FYI...Peg. What do I do? — Original Message — From: Dennis McCormack To: Peggy Siegal; Sent: Mon Oct 03 Subject: Robin Lane, Alpine Dear Peggy and Gary, I'm writing to give you both an update on the activity at your mothers house. Since late August we've had a healthy amount of showings. (14 total). Out of the 14 showings, seven of those were to three different buyers who came back for repeated showings (a few brought architects and builders with them to explore renovation costs, etc.). The overall feedback I get is good. I'm certain that is because of the strong location and property size (1.5 acres). Most people want to renovate, however, after they investigate the cost involved, they seem to take a pause. Since we listed the home, there were two Alpine closings in your immediate price range that we can now examine as a comparable. I. Grunfcld. Graham St. Built in 1975. 5 bedrooms. 1.5 acre property, no pool. Closed at S2.1M (in need of renovation) 2. Osso, Ilillside Ave. Built 1990, 8,000 sq.ft. Completely renovated. Brick colonial. 1.4 acres. Closed at 52.8M. The second comparable shows there is a market for a renovated home on similar property size. However, the first comparable (which closed recently) shows the property value of a home like yours in need of renovation. We are currently priced at $2,450,000. Based on the fact the home needs a new septic system (and I've made that disclosure which hasn't presented an issue. albeit a cost to any buyer), I believe the true market value of our subject property is in the $2.1-52.2M range). Because we have two strong selling months before things get quiet in December and January, I would recommend we reduce our asking price to $2,250,000. I don't feel we are "selling ourselves short