Mahoning Valley Forum

Youngstown & The Mahoning Valley => Downtown Youngstown [Subforums] => Topic started by: Towntalk on May 06, 2010, 02:50:00 AM

Title: Rosetta Stone
Post by: Towntalk on May 06, 2010, 02:50:00 AM
Now on the menu: Rosetta Stone for $2.9M

http://www.vindy.com/news/2010/may/06/now-on-the-menu-rosetta-stone-for-29m/

Title: Re: Rosetta Stone
Post by: Youngstownshrimp on May 06, 2010, 06:39:38 AM
All Flash and no Cash!
Title: Re: Rosetta Stone
Post by: Rick Rowlands on May 06, 2010, 09:09:26 AM
What is the point of "testing the market"? Either its for sale or its not.  How pissed would a prospective buyer be if after making inquiries into the property to have the seller say" Oh well ,we just wanted to see what you would pay, but we're not going to sell it after all!"
Title: Re: Rosetta Stone
Post by: Why?Town on May 06, 2010, 09:17:43 AM
I was wondering what Howard Hanna gets out of this. Do they get paid even if doesn't sell? How much?
Title: Re: Rosetta Stone
Post by: northside lurker on May 06, 2010, 09:32:23 AM
I think this is their way of making it a sellers market.  This will help them eliminate some of the people who would give them low-ball offers.  Or, they are asking what they believe to be a ridiculously high price and, if they find a buyer willing to pay that much, they'll sell.

Here's sort of an anecdotal example.  My neighbor has a classic car.  The book value of his car would be about $20k-25k.  He was offered $30k for it once, but didn't want to sell it.  But, maybe my neighbor, out of curiosity, decided to list his car for sale at $40k to see if he got any interest.  He may love his car, but everyone has their price.
Title: Re: Rosetta Stone
Post by: Shar on May 06, 2010, 10:06:24 AM
Rumor has it that almost the entire kitchen staff and 2 bartenders walked out on Chuck a couple of weeks ago due to the way that Chuck runs the kitchen.   I am inclined to believe that rumor since their entire lunch menu changed last week.  I don't think they are doing as well as they would like us to think in that article.  ???
Title: Re: Rosetta Stone
Post by: AllanY2525 on May 06, 2010, 02:51:53 PM
I tend to agree that they are not doing the booming business that they claimed
they are... especially when they owe back property taxes - if the place was
generating that kind of revenue, then $4,000 +/- in property taxes could easily
be paid and up to date.

It's a shame, since the place is quite popular
Title: Re: Rosetta Stone
Post by: Youngstownshrimp on May 07, 2010, 02:12:23 PM
What's the saying? "Not everything that shines is necessarily gold."
Title: Re: Rosetta Stone
Post by: iwasthere on May 08, 2010, 12:34:37 PM
the back property taxes, how far do they go back for delinquent status? ::)
Title: Re: Rosetta Stone
Post by: AllanY2525 on May 08, 2010, 12:42:48 PM
Howard Hannah would probably get between 4% and 6% commission for
the sale of the Rosetta Stone....down home in Maryland, Long and Foster
is currently asking 7% to market and sell a property.

Typically, the realtor only gets paid if and when the property sells.  Given
the amount of money they make from these sales, and the small overhead
they have, this is more than reasonable.
Title: Re: Rosetta Stone
Post by: Why?Town on May 08, 2010, 04:21:53 PM
From the article is seems that Howard Hanna is aware that they are only "testing the market".

I can't see them listing it for free.

Hell, I couldn't even get gina shutrump and her ex husband to finish building my house correctly and I was PAYING.
Title: Re: Rosetta Stone
Post by: iwasthere on May 10, 2010, 02:54:27 PM
whytown did you sue?