I remember reading the following in one of the other blogs:
“If you are going to buy right now, you need to get out a big hammer & hammer out a deal because if you don’t, you’ll be the one being hammered in a couple years when prices will be much lower”.
This is exactly what newguy did. He kept “hammering” the builders until he got a great deal. When the dust settles, I think newguy will still lose some money, but the deal he got will soften the blow.
23109VC loved his house so much, that he lost “the power to walk away from the negotiation” which is crucial in negotiating a good deal. Basically, 23109VC ended up bailing out the previous owner (unintentionally, of course). The previous owner was obviously desperate to sell that house.
