There’s just nothing going on. It’s frustrating – I have real buyers, as I’m sure every other agent does, but sellers seem determined to believe that 2006 is coming back, maybe next month, and are clinging to prices that seem, to me, to be incredibly foolish. If my people offer five-and-a-half million, cash, telling me that you turned down ten million in 2007 just shows that you’re a fool, not that your property is worth that today. Sorry.
UPDATE: I haven’t spoken with any of my client/buyers today, but with the Dow down 260 points, I suspect they aren’t inclined to raise their bids. Yet we still have (or had) real bids out there, all cash, ranging from $2.35 to $6.7, not one of which has been countered except for one seller who told me where to stuff my head. Why do I think my next conversation about this property will be with the bank’s lawyer?