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Archive for August 3rd, 2011

No doubt about it this business is tough. One develops a thick skin or rather should develop a thick skin when hoping and hauling and schlepping shacks.

A friend referred me to a friend who happens to own a very nice “mchome.” Four bedrooms, two and a half baths, nice neighborhood, fairly nicely appointed but on a rather busy corner. Still a saleable home. So I was asked for a market analysis which I diligently performed. I struggled with comparables which were coming in around $240,000 for this home. More likely the home would sell in the mid to high 230,000’s in this economy. The seller wasn’t happy, I was below an appraisal of a year ago. Well go figure. High appraisal means bank makes more moola right?

I looked at the house across the street….RIGHT ACROSS THE STREET, which sold for 199,900 plus $3000 in consessions. I looked at an identical home, same neighborhood that sold for $236,000. Yet, other agents procurred the listing and the price, $280,000, in an economy with no appreciation and in a real estate market that is now being called DEPRESSED. Come to think of it, I’m a bit depressed. Oh well…NEXT.

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