I told you so...just ain't enough
I have been an industry insider for the last 5 years, and have bailed out by beginning of this year to pursue other interest (and to avoid meltdown of course).
I warned a friend who consulted me for advise on selling his house back in April that he must sell by July/August at ALL COST. I stressed ALL COST as in, you must get rid of it by then. At first I thought he took my advise seriously, then in June I found out that his house have not been listed just yet. Turns out that he was taking his sweet time after he spoke to few brokers and was confident that the market is solid. On top of that, he pointed out all the construction going on in downtown Bellevue (his house is in Bellevue, but not West Bellevue). He had three offers in July the first week he listed his house, 2 were below asking and 1 was at the listed price but backed out after he found out that he cannot cut a tree due to PUD.
Just yesterday I spoke to him...he tells me that he feels like a victim, so I asked how? He says that if I have a house that cannot sell, I would feel the same. I kind of want to just say to his face with a big "I told you so", but it just didn't feel right...
I warned a friend who consulted me for advise on selling his house back in April that he must sell by July/August at ALL COST. I stressed ALL COST as in, you must get rid of it by then. At first I thought he took my advise seriously, then in June I found out that his house have not been listed just yet. Turns out that he was taking his sweet time after he spoke to few brokers and was confident that the market is solid. On top of that, he pointed out all the construction going on in downtown Bellevue (his house is in Bellevue, but not West Bellevue). He had three offers in July the first week he listed his house, 2 were below asking and 1 was at the listed price but backed out after he found out that he cannot cut a tree due to PUD.
Just yesterday I spoke to him...he tells me that he feels like a victim, so I asked how? He says that if I have a house that cannot sell, I would feel the same. I kind of want to just say to his face with a big "I told you so", but it just didn't feel right...
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House won't sell? Don't cut price; try buy-down
(Yes, it's a syndicated columnist, not a Times' original, but it still showed up as a featured real estate article last weekend.)
In my weekend car trips around the Eastside, I noticed the most number of real estate signs out that I have seen in about five years. There were three (count 'em, 3) open house signs at the major intersection close to my house--there is usually not more than one, and even that one has been very sporadic the past few years. Houses just are not selling like in 06, or in 05, or 04. I drive by 4-6 new homes every morning, and they are sitting, and sitting, and sitting, for months now . . . one even switched from Redfin to a full-service broker (don't know if that helped or not).
I think the orchestra has moved up to the observation deck and has started playing . . .