Have you ever heard out of the mouths of babes? Children are some of the most brutally honest people on the planet. Last Christmas my 4 year old grand daughter said while watching the Macy Santa Parade...she sees Santa and gets all excited...then puts her hands on her hips and says....."hey Santa is to Fat to get down the chimney"! He older (6 year) old sister, replied, that's why they make front doors! He doesn't have to do that anymore. We all laughed until we cried....you had to be there...it was a Kodac moment.
But the truth is they were both right. Santa is to fat to get down the chimney. The myth of that has been passed on for generations....I didn't try to research how long or even how Santa became Santa. But the reality is....we have front doors so what is the point of jumping from roof top to roof top?
Well we have myths too. Some of them I hate but I still hear them....I have even seen it printed here...."buyers are liars"....not really they just haven't made up their mind to buy "my listing or yours" they bought someone else's....drat. The lender is responsible for finding out the credit truth. Many buyer know they are marginal....yet some with very good incomes can not quality because of debt to income ratio. They may not know that either. But they can work their way out because of the income. The shattered credit buyer they have a harder recovery.
Another myth....everything will sell if it is priced right. Three Mile Island hasn't sold! Homes that were in wonderful neighborhood that have now suffered from urban blight with factories and parking lots replacing residential homes have lost huge value. If they are of no value to the commercial sector they will probably become sub-standard rentals. The concept is correct just in practice it is not always true....but we hope.
Stigmatized property can either be born of myth or reality. Probably the most notorious was the home of the Manson murders.....that home sold again in the last few years I understand. It was vacant for years and then the home was removed and another home put on the lot. Other examples of suicides, shootings and illness have plagued properties. The agents do not disclose the information and are not required to do so....but the community....I was in a restaurant, small town....a customer said looking at the Corey place? I replied it was very nice....was a funeral home...makes the weirdest noises at night. The patron said, and they added....good luck with a rye smile. He gave me the willies!
It is funny how myths keep traveling through decades and blend with some reality...but never quite "cross over" as they say on "Ghost Whisper".
How many myths do you know of that travel in our business?