Daraprim and Real Estate or When The Drugs Wear Off Reality Takes Over

By
Industry Observer CalBRE #01165532
https://activerain.com/droplet/4JxN

Daraprim and Real Estate or

When The Drugs Wear Off, Reality Takes Over

 

Daraprim and Pasadena Real Estate RealitiesYou likely have read and/or heard the stories of Daraprim the drug that rose in price from $13.50 a tablet to $750.00 overnight.  

 

Have  you ever met potential real estate sellers who felt the same way about their property?  Of course, you have -- who hasn't?

 

 

 

  

 

 

Sure, they have all the statistics --

you know the Zillow Zestimate,

the expert advice from Aunt Sadie and Uncle Rufus

along with that special feeling that ya know my house

is really a lot more special than any other house in

the neighborhood

and look what the Wilsons just got for their home(actually

it was two years ago and it had been extensively

renovated with a view of the golf course, but never mind).   

 

While we’ve seen some examples of seemingly runaway prices in parts of Pasadena real estate market -- smart

sellers understand that while emotions can run high

when buyers finally see their new dream home, that

excitement is typically tempered by a healthy dose of reality.

  

 

That reality can take place in different

ways.   

 

Maybe it’s during that crucial follow-up visit to

the property where the allure of that initial outing allows

a more critical look --- hey, I didn’t notice that the

small bedroom didn’t have a closet.   

 

It can take place when hard facts --- recent comparable sales are shared

 

 

--- sellers remember you don’t just have to ‘sell’ your home

to the buyer but most likely need to sell it once again to the appraiser a buyer’s lender will require.   

 

So be careful --- make sure your real estate transaction

is based in reality.  This is true for sellers and for buyers too.

 

 

Need more detailed information regarding real estate

in Pasadena?  For a healthy dose of the realities of Pasadena

real estate, call me at 818.516.4393 cell.   

 

I look forward to discussing what’s important to you.

 

Daraprim and Real Estate or

When The Drugs Wear Off, Reality Takes Over

 

 

 

Posted by

Michael Jacobs

 

CalBRE # 01165532

2065 Huntington Drive

P. O. Box 587

Pasadena, CA 91102

Call/Text:  818.516.4393

mtj916@gmail.com

 

 

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Rainmaker
1,923,762
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Michael -  when it comes to their own property, their castle, some people take the stand of "Don't confuse me with the facts.  This is how it is."

Sep 23, 2015 05:56 AM #1
Rainmaker
2,792,060
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

I read about that drug and the drastic increase.  How can things like that happen?  How can they make money on the drug when no one can afford to buy it ... or does Obama have a hand in it and has agreed to pay for it with our tax dollars to all those who need it. 

Sep 23, 2015 05:56 AM #2
Rainmaker
3,100,147
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Michael Jacobs ~ great analogy, Michael. Hopefully none of us run into sellers who think there home appreciated some 5,000%!

Sep 23, 2015 06:02 AM #3
Rainmaker
359,130
Jill Murty, Realtor - Orange County, CA
PREA Realty - Laguna Niguel, CA

Getting people to reality can be really difficult.  Stubbornness can be born out of ego, fear or both. 

Sep 23, 2015 06:03 AM #4
Rainmaker
4,452,715
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Oh, Michael,

I am so laughing at that, and remember similar incidents in commercial real estate...You forgot to mention the psychic expert that some people consult, the astrologer, and last but not least the feng shui expert, who says that the wind around the home blows in the wrong/right direction...All in a day's work.  A

Sep 23, 2015 06:24 AM #5
Ambassador
2,780,183
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Michael - Bad things happen when people lose sight of the reality around them, and you're right, home pricing is an excellent example. (The dirtbag SEO that came up with this brilliant idea has been hammered into changing his mind, due to very heavy social and traditional media pressure).

Sep 23, 2015 06:50 AM #6
Ambassador
1,924,750
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Michael so glad you referenced the drug that has hit the news as I had no idea what it was . Price must be within realistic pricing that s unless it is cash and not conditioned upon any mortgage financing 

Sep 23, 2015 06:59 AM #7
Ambassador
3,090,321
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I haven't heard about this drug, but I love the analogy.  Having a firm basis in the cold, hard facts of the real estate market is essential to success when listing.

Sep 23, 2015 07:28 AM #8
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Wonderful title and great analogy Michael.  Sellers can get all the advice they want from Aunt Sadie, Uncle Rufus, the Wilsons or any number of people, but the guidance they get from their real estate professional is all that matters.

Sep 23, 2015 09:01 AM #9
Rainmaker
2,540,683
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I watched the CEO of the company that manufacturers Daraprin as he "explained" the increase.  I couldn't help thinking this is what you get when you allow a venture capitalist to invade the field of pharmacy and healthcare. 

Sep 23, 2015 10:07 AM #10
Rainmaker
1,675,376
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Michael Jacobs ,  We have heard people argue because Zillow said it was worth more than what the CMA shows.  They need to go to a Real Estate professional, not an internet site that is on the other side of the country and has never walked our streets.

Sep 23, 2015 12:32 PM #11
Ambassador
1,769,790
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

I have been there Michael. Aunt Sadie and Uncle Rufus don't know chit. I have also gotten the response that they saw it on HGTV too.

Sep 23, 2015 01:27 PM #12
Rainmaker
3,247,867
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

When reality sets in people look at things differently.

Great post.

Lou Ludwig

Sep 23, 2015 01:48 PM #13
Rainmaker
596,598
Nancy Laswick
United Real Estate - Phoenix, AZ
Your REALTOR® For The Valley Of The Sun

Unfortunately few people probably paid much attention to the controversy surrounding Daraprim pricing. Probably the only people to recognize the name are those whose immune systems have been weakened by chemo, HIV or Malaria. And it's not like Turing and others like them are financially raping every American; just a few thousand. Of course that doesn't include overseas victims.  Hopefully there is a special place in hell for the corporate officers of drug companies like Turing Pharma. Sorry that this comment is so far off topic Michael Jacobs. I enjoyed the post very much it just that when I saw Daraprim I just-- sort of-- lost it.

Sep 23, 2015 04:18 PM #14
Rainmaker
4,797,361
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Michael.  Individual sellers have every right to price their home stupidly, just as buyers have every right to not pay those ridiculous prices.  Unfortunately, with the only drug that can save their lives, people have little choice when it comes to this drug.

Sep 23, 2015 08:44 PM #15
Ambassador
1,854,595
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Good analogy - makes me sick to think about the folks who made the decision to increase the price of this drug. One that is so desperately needed.

I refuse to deal with folks ( unrealistic sellers ) who don't get it - they are time wasters. 

Sep 23, 2015 10:32 PM #16
Rainmaker
3,001,577
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Some days i dont know what is worse, the opinions of the relatives, Friends and co -workers or sites like Trulia and Zillow with their estimates?

Sep 23, 2015 11:16 PM #17
Rainmaker
1,392,899
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

First...I watched the interview with the pompous punk CEO of said drug company...ugh. Drug companies are awful!

Next...I have clients right now...they low balled every home until we finally made a deal. Now we are selling their home...which of course they want all the money and then some for bahahaha

Sep 24, 2015 12:10 AM #18
Rainmaker
1,521,597
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Michael, such a great analogy. We are often faced with delivering the cold hard facts and some sellers just can't accept that they are indeed facts. I've walked away from a couple potential listings this year knowing they'd never sell at the price the sellers wanted.

Sep 24, 2015 12:16 AM #19
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Michael Jacobs

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