He’s a typical seller, who prices an asset for what he hopes to get, rather than what the market will bear. To me, this is proof that house sellers are more emotional than rational.
My observation of human nature is that people are emotional about themselves but expect others to be rational. That applies to everything — houses, kids, wives, cars, etc…
What is funny about the article (and not surprising knowing most realtors) is his “Do as I say, not as I do” attitude.
He clearly doesn’t trust his realtors, they told him his house is too high to start, he lists it high anyways.
They continually tell him to lower his price, he refuses (for over a YEAR!!).
He goes on the record recognizing his mistakes and telling all the other sellers not to mimic his poor judgement, yet he hasn’t lowered his house price!
The outside of Nar Pres’ house looks very nice but the pictures of the interior look boring and cheap and disappointing – so the price and inventory selection is what is killing this place.
State of the art, circa 1979. And it appears not to have been updated.
That’s a pretty good spin article. He bought it for $49,000 on a high interest loan and today it’s worth $1.45 million. Not. He bought the land for $49,000. Proceeded with construction with another loan… It’s been offered at $1.45 million for year and isn’t sold and much like this article
A $1.65 Million dollar home in Monarch beach need a $500,000 reduction to get sold. Basically, a 25% reduction off of initial wish list price.
“My observation of human nature is that people are emotional about themselves but expect others to be rational. That applies to everything — houses, kids, wives, cars, etc…”
I just had a conversation with my Father-in-law about home prices in South Florida. He’s a realtor there. He’s sticking with the “but it’s different here” scenario for FLA, his city, his community, even his floorplan. I had to laugh.
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