Real Estate Rollercoaster

The words BARGAIN PRICE - OWNERS MUST SELL!! don't inspire confidence someone is having a good time in the real estate theme park. You're half way down the big dipper, when that pasty white kid four rows ahead loses his lunch. You just know you've done your dough when the vomit smacks you square in the face.

Cleaning off after such a ignominious end is someone's experience in Turners Beach right now. Turners Beach is one of those lifestyle areas, where real estate agents can lay it on real thick. Close enough to the job, but far enough away to.... well I can't keep a straight face to even write such crap. Let's just say the lust, the fear and the pressure gets the better of people.

It's why someone plonked down $346,500 for this 4x2 'home in a dream location'.


Now that was 2-1/2 years ago. Imagine the capital growth so close to the beach, to not just live a life, but to live the lifestyle you deserve... 150k? Lower; 100k? Lower; 50k? Lower; 25k? Lower; 10k? Lower. Ok surely you're covering closing costs? Well I hope Turners Beach has a surf live saving club because someone's underwater. Previous sale to current asking price - $2500 higher.

Yep, right now the asking price is $349,000. Four months ago they were asking $375,000. You note how we're still above that psychological barrier - forget closing costs, in your head you haven't lost money until your sell figure is lower than what you paid.

How does one extract themselves from this situation? Marketing a house in this situation is very easy - lower the price.

Down and down she goes, where does it stop? Nobody knows.

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