Imagine a man or a woman buying a plane ticket. S/he goes on the net and searches for the best deal. S/he finally finds one. It is an exceptional price, so s/he is thrilled.

Small problem, however. The seat is not by the window, and s/he would like it by the window.

Is there anything by the window? Yep, but $200 more. What if s/he waits? Well, the seats are going fast, and the deal might be gone.

S/he still decides to wait until there will be a seat for the same money but by the window.

One hour later the deal is gone, and s/he has to book the ticket for $250 more, but by this time there are no window seats left, so s/he pays for a middle seat $250 more.

The funny thing is that s/he is happy, as this was the last ticket sold and 5 minute later it would be already too late. There might be someone who had missed the plane, and isn’t it a consolation?

Very similar to real estate.

Customers saw a 3 bdr/3 bath unit in Palma Bella in Daytona Beach Shores in 2009. They liked it but did not buy. 2 years later the price is $240K more. It is actually higher than in 2009 by more than half of its price.

palma bella daytona beach shores

They find another condo with still a very good price, but only one unit at this price. So, everything looks fine. Except that they would like a seat unit next to it. Yes, but a seat unit next to it is $200K+ more.

Oh, well, they will wait.

No problem. Come to the balcony, please. Look up there. See the plane?

Say “Good bye”…

P.S. When you need to fly and you like flying 1st class and can only afford economy class, is there really a choice?

Yes… buy economy or stay home

Why? We want to fly 1st class with no money down or ever and the Seller will pay for it.

Yeah… make sure you have a good parachute and learn how to say “Nice to meet you” in Great White’s language.

image of Jon Zolsky, Daytona Beach Shores

 
This post has been included in Florida Real Estate News Volusia County, FL Real Estate News Daytona Beach Shores, FL Real Estate News Palma Bella (Daytona Beach Shores, FL) Real Estate News
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16 Comments on How Good Is Your Parachute?

AUG
10
2011
3 Featured Posts Outside Blog

That is hysterical! Too funny and thanks for the great blog. I love your sense of humor, but too bad that it is actually true. Buyer expectations are unreal anymore!!!
7:45pm • #1
1,403,792 Points 54 Featured Posts Outside Blog Called Shot Master

LOL, a grata lesson in there Jon.  Some people just dont' get it do they.
10:30pm • #2
1,210,622 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Diane - you do not even know how glad I am that you liked the humor part here. Seriously. The rest of is simply boring (lol)
10:36pm • #3
133,339 Points 7 Featured Posts

Great analogy comparing real estate to booking an airline ticket purchae. Sometimes when you miss it you've missed it.
11:25pm • #4
1,210,622 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Maya - a classic dilemma: how to buy today for the price that I saw yesterday
11:35pm • #5
AUG
11
2011
715,635 Points 69 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Jon - Great analogy.  It's not 2009 any more.  Those days are over, but with low interest rates, it's still a great market to buy!
12:52am • #6
1,210,622 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Gail - we normally do not deal with interest rates and, to tell you the truth, I have no idea what they are. All our vacation condos are bought for cash
1:09am • #7
1,392,364 Points 28 Featured Posts Hit Router Called Shot Master

Jon, great analogy.  I'm going to show this to some of our buyers that insist there must be this deal of a century that they can get, but we're not doing our job finding it for them.
7:24am • #8
816,863 Points 16 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Florida is still the best market to buy in - especially the coastal areas. God only made a few places you could live and actually see the ocean.
8:59am • #9
1,210,622 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

gabe - it amazes me that people would insist on looking on "hot" deals and then say "We are not in a rush, we can wait"

They can, but why they think the market will wait for them?
9:13am • #10
1,210,622 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Nicholas - the only thing God did not give us is a time machine to go back and buy at yesterday's price. And, of course, this is what everybody wants
9:17am • #11
1,210,622 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

William - true, so me people never do
9:18am • #12
AUG
13
2011
1,652,689 Points 134 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jon, That is a very good analogy and a fun read.  I'm one of those that waits UNLESS I ABSOLUTELY love soemthing, this I want it now!  Ha.. That doesn't happen very often.  I've bought several pieces of real estate simply because they were the right price but every once in a while there is a special piece that I buy because I really like it.  :)
10:30pm • #13
AUG
14
2011
1,210,622 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Judi - waiting is not a problem. But what is the point of a buyer to start figuring thhe cost of removing the plantation shutters in a unit at unbelievable price, when she is not going to buy this unit today, but 2 years down the road.

2 weeks down the road this unit will be gone, and in two years whatever she finds will not have plantation shutters. Why bug people around for specifics, and get quotes then buying is delayed anyway?

One of my today;s clients demanded the designer to give her a quote. The guy called me, asked whether she got the condo, I told him that there is still an inspection to be done, so he told her to call him when it is final.

SHe was so upset with him, but 2 days later canceled the contract. If he agreed, he would simply have wasted a lot of time for nothing
11:20am • #14
880,926 Points 10 Featured Posts Attended Rain Camp Called Shot Master

Jon, very interesting comparison - loved the introduction and how smoothly you slipped into the real estate 'reality'. Like Alan May, you have your own style --- and I like it.

Great message for those who do not want to miss the boat/bus/train or plane for that matter.
6:52pm • #15
1,210,622 Points 118 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Praful - this blog came after I was showing the lowest priced unit to a person who was asking about the cost of repairs, or removing things, and then she said she is not in a rush to buy. Why then you need to know how much would it cost to do something specific to this unit when you are not a buyer?
8:55pm • #16


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Jon Zolsky, your Daytona Beach, Florida connection

Daytona Beach, FL

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Address: 313 S Atlantic Ave., Suite A, Daytona Beach, FL, 32118

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