VA: Real Estate Investing Can Be Tough When Everyone Ignores the Market
Jun 6th, 2007
(8 votes, average: 2.13 out of 5)
Loading ...Yesterday, I made an offer on a duplex. When I submitted my offer, I was very firm with the agent.
“This is the highest price I’m willing to pay for the […]
Original post: Real Estate Investing Can Be Tough When Everyone Ignores the Market
what the hell is up with her website in mozilla? >.
V, your losing it today. That was less interesting than being bored by garden mulching sessions. Not as tedious as reading about little Tiffany’s bowel movements or Ben’s booger eating posts of the Mommy Blogs. But still dull. Get away from the retard blogs - I know its fun ripping into them but Im afraid they are starting to slip their insideous seeds of the internet Boring As Shit virus.
;-)
Actually… if no one is willing to lower their price…
… then I’m not sure it’s them that are ignoring the market…
Although there probably is a perfect economist term for when a group by sellers and a group of buyers can’t come to an agreement…
Also, if they are making money on rent and tax write offs anyway, there really isn’t any reason to sell unless it’s at the right price.
@Manax, 3 — V has noted that a property is only worth as much as somebody is willing to pay for it. Given that these properties haven’t sold in, what was it, a year?, it appears that nobody’s willing to pay the asking price.
@3
At the very least they don’t WANT to sell their houses if they’re leaving them at a price that’s obviously not attractive for that long.
The point V was getting at is that people have gotten so used to the “list it at whatever price, you’ll sell it” mentality that the golden years of the late 90’s gave them and are completely ignoring that fact that if they want to sell the property, they are going to need to lower the price. Obviously no one is willing to pay it.
If this keeps up, in a couple of years everyone will believe that in order to sell real-estate, it has to be on the market at least a year, normally about 3. The over and over-repeated error of man - when something goes wrong, instead of looking for mistakes, a man assumes that that is how it works. Even if it worked different before - well, things change, nothing we can do, right? Bothers me.