Prompted by Angus Woodbury's post on the subject, I'm aghast at the really strange things happening with sellers in the Long island market. I've told people lately that it feels as if crazy dust is being piped into the atmosphere and everybody's breathing it in. Here are a few examples:
1. Seller is "motivated to sell" by virtue of the fact that she cannot afford to continue to live here and will be moving into a new home in another, less expensive area. We list the house with her express instructions - no sign, no Open Houses. After quite awhile we're allowed to have an open house but she swears someone tried to open her dresser drawer. Nobody went near it. Months go by, during which she gets several offers, all within a few thousand dollars of each other. In her mind it's always just short of what she'll accept.
2. Seller insists on buying first, even though I asked them to think very carefully about it and if it would keep them up at night, not to do it. They buy anyway, through me. Months go by with their house not selling. They get disgusted with the process and start to not let people in. Closing on the new property should be within weeks. I hear rumblings that they may try to get out of it.
3. Seller, not sure at first whether to sell or rent since they'll be living out of the country for a few years, finally decide to sell and buy back if they decide to come back to this area three or four years from now. Good move. I go to the house, write up the listing, take photos and wait . . . and wait . . . and wait. Three weeks later they return signed listing to me and I begin the process. The phone starts ringing. Agents want to show the house. They don't return phone calls. Nobody can get in. One of them is no longer living in the states.
I told them that prices are going down and selling now will net them more. I just don't get it.
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