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Opposition to falling prices......

By
Home Builder with ODaniel Homes

Yesterday, I had a meeting with my Pastor.  He gave me an account of his experience looking at a particular new house in the area.  The story is more about the man next door to the new house my Pastor was viewing than about the house itself.  To make a long story short, he and his wife were looking at a new house a local builder has almost completed which the builder is offering for sale at a fair market price.  The fair, current market price for this house is below the appraised value of the house next door despite the new house is larger in size.  The guy next door is going absolutely nuts over the idea the sale of the new house will lower his immediate appraisal value due the lower selling price of the new home.  When I say nuts, I mean to say he does things when the house is shown such as mowing his grass while wearing a kevlar helmet, flack vest, and camoflaged face.  He comes over during the showing cursing the builder and the work quality.  He cranks up every radio in his home on different stations.  You see what I'm getting at.... nuts. 

My Pastor thought this activity was funny considering that he knew the guy wasn't nuts, he is just upset.  He also isn't interested in that house, rather that floorplan on a different lot in a different subdivision, so it's not like he's going to have the guy for a neighbor.

Considering the path I'm starting down.... offering custom houses at more entry level prices..... I guess I'll get to at some point experience the joys of similarly upset neighbors who clearly don't understand economic theory.  Happy, Happy, Joy, Joy.  I look forward to it.  Have any of you had similar experiences as yet, or do you just get to look forward to it as well?

 

Comments (7)

Chip Jefferson
Advanced Building LLC - Lexington, SC
I have run across some NUTS in my time as well.
Apr 08, 2008 10:59 PM
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com
You have to love people.  That is going to the extreme to stop a sale of a home.  He doesn't realize that the longer it takes to sell the lower the price.
Apr 08, 2008 11:03 PM
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Clay, some of the builders around here have done price reductions for a very short time in an effort to reduce inventory but I don't believe that we have had that kind of response.  Just an idea, maybe the showing agents should go out dressed as the "NUT" was and maybe have a reverse effect...:-)

Apr 08, 2008 11:05 PM
Karen Webster...Grand Rapids, MI Realtor
5 Star Real Estate, Grand Rapids MI - Grand Rapids, MI

I want a kevlar helmet.  I hear they're "in" for spring.

This guy is seriously misguided.  Good luck!

Apr 09, 2008 12:01 AM
Donna Marie Godfrey
Godfrey Properties - Pottstown, PA
And I thought I had the corner on the Nut Market!  Was the helmet and jacket all he wore?
Apr 09, 2008 12:02 AM
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota/Wisconsin Real Estate Expert
Wow.  Life is too short to act like a nut case.  Some people...
Apr 09, 2008 12:12 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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