Tuesday, February 26, 2008

If at first you don't succeed

As Albert Einstein said, insanity is doing the same thing over and over again and expecting different results. There is a house not too far away from me whose owners are insane by this definition.

It was for sale all of last year. The asking price was $500,000. No price drops whatsoever. An open house every Sunday to the point that the “Open House Sunday 2-5” sign was a permanent fixture on the lawn.

The house was taken off the market late last year. And now that it’s spring time, and it’s back. Did the owners learn anything from last year? Did they clue in that the house is not worth $500,000? Did they lower the price even a little? Not a chance. The house has been re-listed for $500,000 and amazingly enough with the same real estate agent as well.

People sure do stupid things.

1 comment:

Anonymous said...

I see a lot of that same b.s. here. It's not the price, it's the realtor. They just need to get a better realtor to force that thing on someone.

Some of the people that pull that stunt are genuinely screwed ... either selling at a loss or just trying to break even.