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Let me vent for a minute.
I have been making offers on property left and right and not one freaken seller has taken my offer. I'm like dumbfounded now because I just got off the phone with a guy who wants damn near $3m for what is probably a $700k parcel. He was like you can build high end homes on it, I said yeah that would be nice, but the problem is you can't sell high end homes in this market. Their are no buyers out their now for brand new $800k-$1m homes, none, they don't exist. But their are a ton of buyers out their for middle of the road $300k-$400k new homes. Is this guy stuck in some time warp? Maybe he went on vacation in 2005 and just didn't hear about what has been going on in the past 4 years.:coco:
All these freaken people with land are clinging to the old days, and hoping it comes back. I think on some level they probably realise they missed the boat, but don't want to deal with it. The RE agents are just as bad, they are all freaken morons. They simply don't have a clue what it costs to develope this stuff. They think every freaken lot is worth $125k. They don't understand that since its going to cost me $60k to put in a road I can't pay $100k for a lot thats worth $100k, I need to get it for $40k. What surprising about the agents is they do understand that were not getting the money for the houses we used to. You would think they would put two and two together and figure out the land values have dropped as well...but it seems thats asking a lot.
Sellers have no idea what stuff is worth, no idea. They don't understand because they havn't sold a house in 20 years, neither have they ever built one. Its not 2006 people, I wish it was, but its not.
Rant off.
I have been making offers on property left and right and not one freaken seller has taken my offer. I'm like dumbfounded now because I just got off the phone with a guy who wants damn near $3m for what is probably a $700k parcel. He was like you can build high end homes on it, I said yeah that would be nice, but the problem is you can't sell high end homes in this market. Their are no buyers out their now for brand new $800k-$1m homes, none, they don't exist. But their are a ton of buyers out their for middle of the road $300k-$400k new homes. Is this guy stuck in some time warp? Maybe he went on vacation in 2005 and just didn't hear about what has been going on in the past 4 years.:coco:
All these freaken people with land are clinging to the old days, and hoping it comes back. I think on some level they probably realise they missed the boat, but don't want to deal with it. The RE agents are just as bad, they are all freaken morons. They simply don't have a clue what it costs to develope this stuff. They think every freaken lot is worth $125k. They don't understand that since its going to cost me $60k to put in a road I can't pay $100k for a lot thats worth $100k, I need to get it for $40k. What surprising about the agents is they do understand that were not getting the money for the houses we used to. You would think they would put two and two together and figure out the land values have dropped as well...but it seems thats asking a lot.
Sellers have no idea what stuff is worth, no idea. They don't understand because they havn't sold a house in 20 years, neither have they ever built one. Its not 2006 people, I wish it was, but its not.
Rant off.
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