Special offer

By the time the fool has learned the game, the players have dispersed.

By
Real Estate Agent with Helen Adams Realty

There's an old proverb that says:  "By the time the fool has learned the game, the players have dispersed."  

Buyer and seller agree to a sales price of 96% of the list price of a home priced over $600,000.  Pretty good in this market, eh?  After several days of indecision, the seller asks to stay in their home for 3.5 months after closing date.  Buyer can't make that work, but CAN make 1.5 months work.  Seller decides to walk away from the buyer.   All of this in a neighborhood of homes all priced over $430k, with 24 homes on the market and an absorption rate of 9 months.  Sellers' house has been on the market over 5 months. 

The sellers' agent is a true professional and has tried her best to get her sellers to understand the market and the gravity of their decision.  But, alas, to no avail.

By the time the fool has learned the game, the players have dispersed.

My buyer has dispersed. 

 

 

 

Shannon Coe
exp realty of California, Inc. - Oceanside, CA
760-586-5268, San Diego Realtor

Good Post! That is what I keep telling my buyers! I hope they get off the fench this year.

Jan 21, 2011 01:20 AM
Nor Yeretsian
Envoy Capitol Realty Inc. - Toronto, ON
Envoy Capitol Realty Inc., Brokerage Toronto

Sad, they learn too late what was good at the time.

cheers

Nor Yeretsian

Jan 21, 2011 01:23 AM
Art Hademan
Century 21 Real Estate Center - Mount Vernon, WA

Joyce,

Had a client in 08 who would not get realistic about the selling price of his home. As a result the home didn't sell while the market was still somewhat strong. The selling price back then was 223,000 and I suggested 215,00 for a quick sale. They would have walked with about 100k profit at the 215 price.

Now they've gone through four realtors and the price on the home today stands at 123,000. Now they're looking at a short sale and no profit.

Go figure!

 

Jan 21, 2011 01:26 AM
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

This is not an isolated situation.  Unfortunately, by the time another offer  comes around it will proably be for far less than your offer.

Hope the next seller is more realistic for your buyer's sake.

Jan 21, 2011 01:29 AM