I did an open house today in La Quinta, California. A very nice couple comes to the open house and proceeds to tell me the wife is a real estate broker. They are looking for the house just like the one I am showing for $435,000 only they want to pay $220,000. I tell them the house across the street is an REO of same floor plan with a pool for $220,000. The home across the street is not in excellent condition or even fair condition, but what do you expect for $220,000?
Here's waht they expect for $220,000 in La Quinta, California. They want a home in perfect condition with a pool and a 3 car garage. The home for $220,000 has a 2 car garage and they have 3 car
They proceed to tell me they are way under water on the home they currently live in. This just blows me away- they do not want to even sell one of the cars and buy a home that has everything else they want and can afford? Denial- Denial - Denial.
Many of us still have alot of learning to do with this new economy.
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