While under the weather last week I missed a number of emails – here’s one that makes me proud:
Remember when I wanted to make an offer for [XXX] (asking price: 1.25, after several drops from 2.2), and you said it was not worth more than 1 million? You made the offer for 950K and the realtor from the seller rejected it explaining to you -in a very condescending way- all the reasons why the house was going to sell at its asking price, and soon.
At the time, I asked you to counter at 1.1 and you insisted we’d be losing money if we bought the house at 1.1, so you never did. (By the way, I always tell my friends this story because a realtor who convinces his clients not to buy a house because he sticks by his principles instead of just thinking of the commission in sight is something I’ve never heard of before).
Today I read on the paper that the house was sold at 975k this month, i.e. almost 1 year after our initial offer for 950k.
Needless to say, I’m glad you never submitted my 1.1 offer – not only because we would have overpaid but also because patience paid off: we got to find a house we like much better.
I keep on thinking of the people who bought the house next door that was practically exact and paid 1.24 some months ago. I bet you their realtor told them at the time that they were making a great deal.