This Old House Flip: Happy Anniversary -- over $100K loss

Saturday, November 04, 2006

Happy Anniversary -- over $100K loss

2 comments:

Anonymous said...: jrinlv,

It's an absurd practice started by realtors out here a few years back.

Here is the theory:

In a seller's market, the seller expected (and usually got) the high end of the range...the lower number was used as bait - to make the house show up on someone's MLS search so they would come out, look and end up offering the high end. That's why you would see ranges like $799K - $850K. They were hoping to show up in MLS searches that went up to $800K.

In a buyer's market, realtors tell me the range is still useful. Now, sellers are probably willing to accept the low end number, and the high end number is just used to make the buyer feel that they got a deal.

Mind games.; 12:07 PM
bubble_watcher said...: Thanks. Now can you explain why all these expensive houses are so ugly?

That's very simple, because nearly all the realtors here will tell you that the reason that these houses are so ugly is because 'everyone wants to live here'..; 2:31 PM

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