I have a friend who’s currently listing his house for $540k. He paid $420k for it in 2004. He said that he would feel “ripped-off” under $500k. Honestly, my research shows that this house would sell for about $420k today.
He’s gonna be chasing the market all the way down to $300k. It’s junky house and I personally wouldn’t pay more than 200k for it.
Problem is that he needs to sell and move up. He still thinks that he can keep on “investing” his way up. I just wished him good luck. This guy is an engineer. Yep, some people get it, some don’t.
