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Send In The Clowns

Picture it… 11 homes listed in this subdivision. It’s a beautiful community made up of 92 gorgeous homes. The community is brand new. The developer closings on the first house took place a year ago and the more recent ones were finished 6 months ago. As a matter of fact, the builder still has 3 properties for sale (not listed on the MLS). They’re finished, but sitting vacant. In addition there’s also a For Sale By Owner (FSBO) fighting for attention from would-be buyers. The homes are mostly 2-story beauties with many upgrades. Even the smaller models are eye-catching.

The listings range in prices from $320K to $480K. That high end of the range is pushing it quite a bit as it really should be listed at around $435K tops. The one at $320K is a pre-foreclosure, priced to sell at exactly what the owner paid 11 months ago and it’s been on the market exactly 2 months today without going pending yet. Nothing is moving!

 Saving Money in the RedlandThen along comes Bozo and lists his phenomenal house at $589,000! No that’s not a typo. He (or his Seller) actually thinks someone out there is going to be umm… shall we say stupid enough to pay a full $125,000 more than the other one just like it that’s listed (and has sat for 3 months without selling)? Let me repeat that, $125,000. One hundred and twenty-five thousand dollars. Does anyone other than myself realize how much money that is? At the federal minimum wage of $5.15 it would take a person 11.66 years to earn that kind of money! And that’s a bad comparison since the person is expected to actually spend the earnings to live. Have we lost our senses? And get this, the owner bought the house almost 6 months ago at $435k! Does he not realize they will use his own house as a comp on the appraisal? HELLO?? Anybody home?? To add further insult to injury it’s been 2 weeks and there are no pictures. This home is so stunning that pictures wouldn’t do it justice, I guess (that’s sarcasm, in case you didn’t catch it).

For those of us who might want to offer the benefit of the doubt and say…

  • But Maggie, maybe his house is better. It isn’t. Don’t argue with me. The builder made them pretty much the same. Upgrades were extras such as a second sink in the master bath for an extra $550.00. How many sinks could he have gotten? Even an Octopus family wouldn’t need that many sinks!
  • But Maggie, maybe he improved it. What can you possibly do to a brand new house that’s already got vaulted ceilings, high-hats, granite counters, cherry wood cabinets, keystone pavers in the driveway, 20 x 20 ceramic tile, etc? OK let’s say he did want to make improvements, I still need to interject this, we’re in Dade County; where a contractor who shows up when he says he will is as good to have as the very best neurosurgeon. He would have had barely enough time to pull his permits in the 6 months since he bought.
  • But Maggie, maybe the agent is just using this listing to get buyer calls. Aha! I knew you would go that route. Wrong again! There are no signs allowed in this community. A 12×12 inch sign may be placed inside the window. How much exposure is that going to provide to anyone? My riders are bigger than that!
  • But Maggie, maybe the house really is worth that much money. I’m shaking my head now. If I have a buyer who can afford to spend that kind of money, I would advise him to go where the average home is worth $600K and buy the cheapest home there. Better ROI in anyone’s book.

 Dont Let Bozo Sell Your Redland HomeMy take on this is pure and simple. The seller is greedy and the agent is clueless. He needs to add a curly red wig and a rubber nose to his business attire. I’m disgusted with these people.

  1. Thesa Chambers | Sunriver Real Estate

    well Maggie – maybe someone who needs to spend that extra dollar with cash to blow and could careless about value will step to the plate – my guess is he will have to have an agent that has no morales or care about his client – some people can really make you wonder uh? You crack me up – just another reason working with you is so refreshing – you give it to them straight, honest and with a sense of humor – you rock

  2. Maggie

    Thesa, it always amazes me. You would think with all the inventory that is available, people would exercise some common sense. But you know what they say about common sense…it’s not so common!

  3. Clearwater Florida Real Estate

    Maggie, No one tells it like it is as well as you and is still so darn likeable. Love the bozo analogy – see it way to much here myself. Imagine a 2/2 condo – 10 identical (ok 1st 2nd or 3rd floor – same floor plan) and having listing range from$129,999-230,000 – WHAT??? How does that make any sense? P.S.None are even furnished. – Cyndee Haydon

  4. Maggie

    Cyndee – yes, same scenario! I can see the 3rd floor ones going for a little more because they probably have vaulted ceilings. But $100,000??? No way. Maybe $15-20K

  5. Bob Carney

    Reminds me of a quote I once heard…can’t sell a $100 bill for $125. Seems like a realtor bought the listing on this one.

  6. Maggie

    Bob, it continues to amaze me no matter how often I see it. It gets me mad too!

These articles are not intended to give legal or tax advice, and you should consult your attorney or financial advisor for additional information.

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