The price was lowered on this property to 925K from 975K.
Original post.
Craigslist Post
Will it sell at the new price of 925K?
Nope.
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Instead of accepting a crazy mortgage, think your way out of the bad situation. Live where it's cheaper. I've been thinking this for a while. According to this article in Usatoday, I'm not the only one ;)
ReplyDeletehttp://www.usatoday.com/news/nation/2005-12-28-young-moving_x.htm
These small reductions off ridiculous asking prices seem to be the first stage of real estate denial.
ReplyDeleteThe next stage will probably involve kicking and screaming, and "it's not fair!" LOL. Oh but it is.
Anecdotally, from Ben Jones' blog, it sounds like a lot of would be sellers are putting their houses up for rent when they can't get close to their asking price. We'll see how long that lasts.
Tom,
ReplyDeleteThanks for the link. More pressure on the bubble markets.
David
Good find, David. This is really appalling. I'm sure it's a nice house, but nearly a million dollars! In that neighborhood?
ReplyDeleteThis whole thing is beginning to look more and more like the Florida land rush of the '20's. Outrageous prices, with no consideration whatever for value.
I really do look forward to the "history" of this five years from now.
love the top hat. LMAO!
ReplyDeleteThis entire 'economic expansion' has been predicated on real estate speculation, excess liquidity, debt and greed.
ReplyDeleteTake this way- and what is left? You name it, you can have it.
anon,
ReplyDeleteMaybe there is a bubble under his top hat. :-)
OMG "Human greed" is a commodity so common that it can be found outside Vancouver, British Columbia, Canada.
ReplyDeleteWe have mold-infested houses in the worst part of East Vancouver flipping from original price range of C$250k/C$375k to C$500k/C$1M in less than a year.
Glad to hear it Vancouver! The bigger the greed, the farther the fall. Myself, I'm waiting for Seattle/Bellingham to get creamed. So any news of NW Pacific outrageousness is all good news for me! Thanks for making my day!
ReplyDelete