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

To: BWAC who wrote (54947)	5/26/2006 1:16:39 PM
From: John Vosilla	Read Replies (2) \| Respond to of 306849

“‘It’s a stand-off,’ said Andre Dandeneau, who has tried unsuccessfully to sell a two-bedroom condominium in Hillsboro Beach since December. ‘Buyers want sellers to come down, but sellers aren’t capitulating.’ Dandeneau bought his 2,000-square-foot waterfront condo last year for $600,000 and spent about $100,000 to renovate it in hopes of quickly reselling for a tidy profit.” “In December he put it on the market for $915,000. Buyers showed little interest, so he dropped the asking price to $895,000. Now he says he won’t go lower, but he has yet to receive an offer. ‘I am not selling a piece of garbage,’ Dandeneau insisted. ‘This apartment is to die for. I am not going to give it away.’” thehousingbubbleblog.com