“I said that if I was him I’d drop the price steadily until his Eastside SFH sold, but he didn’t seem to like that suggestion.”

“I was doing some errands last week that involved dropping in at a number of retail spots. At one, the very friendly guy assisting me commented on the weather and then spontaneously started telling me about having a SFH for sale east of Main. It’d been on the market for 4 weeks and he’d gotten very little interest and no offers. He seemed puzzled by this. I said that if I was him I’d drop the price steadily until it sold, but he didn’t seem to like that suggestion. I didn’t ask him when or for how much he had purchased.”
– from westsidefrank, via e-mail to VREAA, 16 Jul 2012

4 responses to ““I said that if I was him I’d drop the price steadily until his Eastside SFH sold, but he didn’t seem to like that suggestion.”

  1. Just tell him housing markets can take long times to clear. With all similar investments with which I’m familiar that would necessitate them tradiing at discounts. I doubt he would like that either.

  2. Ralph Cramdown

    Your advice was too technical. Try the more folksy “Prob’ly ain’t nuthin’ wrong with ‘er that price won’t fix.”

  3. Denial will be cured by reality. Eventually.

  4. pricedoutfornow

    Chasing the market down…friend of mine in the Okanagan is living in a condo owned by her grandmother, it’s been on the market for more than a year. They started at $215k, asking price now? $170k, and I see a similar unit in the building is asking $160k. They had a lowball offer of $150k which they rejected. I think my friend will be living there for a long time….

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