Geithner Home Sale Fails
Having trouble selling your home? Well, you are in good company.
Meet Tim Geithner, Treasury Secretary and failed home seller.
Geithner, 47, was trying to sell the brick and stucco Tudor-style home, the listing shows. The house on Maple Hill Drive has five bedrooms, about 3,600 square feet, and an eat-in kitchen with Siematic cabinetry and black granite countertops.
“Careful attention has been paid to the design of every feature of this sophisticated home,” according to the listing.
The home was marketed in February for $1.635 million, according to Scott Stiefvater, president of Stiefvater Real Estate in Pelham, New York. The price was reduced to $1.575 million in May, he said. via Bloomberg
Now Geithner is trying to rent his home. According to Seeking Alpha his asking price for rent is $7,500, about 25% below the market rates. So when the puppet master of the economy is unable to sell a reasonably modest home in Larchmont, New York, don’t get mad at yourself if you are having trouble selling in this market.
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maybe he should have great tactics and do great study on this business.