Well, it was bound to happen. We've certainly been feeling the slowdown, with sellers not being able to sell and buyers unwilling to move forward, but my business partner and I thought we finally had one in the bag. Of course, thankfully, I NEVER count my chickens before they hatch...
We had written an offer for a client in Del Mar - she had $800k cash on a $1 million purchase, so we felt fairly confident the deal would go through. Well, with the continuation of dire news on a daily basis, our client suddenly felt that, within the span of a week, the amount she was willing to pay for the property in question just plummeted drastically. So drastically, in fact, she probably wouldn't buy the property at any price just now.
Never have I seen such a scary state of affairs. I thank my lucky stars for all that I do have and will hold on tight to make sure I don't lose it all!
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