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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (48412)	2/12/2006 9:06:08 AM
From: KM	Read Replies (4) \| Respond to of 306849

<<The Porters initially asked $409,000 for their house at 627 Carnation Court, but they've cut the price to $369,000, said their real estate agent, Randy Bianchi of Paradise Properties in West Palm Beach. The Porters paid $279,000 for the house in 2004.>> I've got an idea. Why not offer it at $329K? That's still a $50K profit (before RE commissions) for doing absolutely nothing. This greed is what will kill people like this. <<The spread of buyers' revenge is bad news for sellers such as Brian Williams. The marriage counselor and his wife put their Lake Worth home on the market in September. The house at 821 N. Lakeside Drive was built in 1925. It offers historic charm and a location near the Intracoastal Waterway. Williams has not lowered his $496,000 asking price, even though offers have been scarce. "I'm disappointed that there isn't more traffic," he said. "I'd consider reducing the price if houses started selling in the area at lower prices, and if people were making offers that were lower. But I haven't seen any evidence that it's about prices yet." Meantime, Williams cannot miss the telltale signs of a cooling market: "For sale" signs are multiplying in his neighborhood. "There seems to be 5,000 homes for sale on Lakeside," Williams said, "and nothing's selling, so that's a little frustrating.">> This dude is truly clueless. If it isn't about price, what IS it about, cowboy?