So said a noted realtor recently when asked how business was. The lack of results for all that activity (on everyone’s part, not just this one broker) may be explained by the reluctance of sellers to acknowledge the new reality of the market. From time to time, I like to point out examples of where the market is today and here’s one more:
This beautiful old (1889) house was purchased for $1.975 in 2003, extensively renovated in 2004 and placed for sale in 2006 for $2.850 million. It hasn’t sold, despite its charm and now, three years later, it’s back where it started, pre-renovation: $1.995. This is reality, the rest is just clouds in your coffee, as Carly Simon once sang.