Thread Rating:
Mayne Island Nightmare: Selling rec property in a collapsing market.
|
02-17-2015, 06:00 AM,
|
|||
|
|||
RE: Mayne Island Nightmare: Selling rec property in a collapsing market.
Sellers (that's sellers, not delusional listers) are getting the memo. Assessments are supposed to be based on sales, and I believe for the most part they are.
Actual sales are what matters, serial re-listers chasing the market down and properties that aren't listed because they have more owing than they could possibly sell for merely represent pent-up supply. Waiting for the market to recover so they can get out alive! At some point some of those properties become must-sell, but those are generally intended as investment anyway, with many built up as the huge mansions we don't want anyway. Even if it drops 75% from a delusional 4 million to the market clearing price, we still don't want it. The place we want tend to be ones that are owned to live in, remain owned, thus aren't part of the market until the owners eventually get too old to remain there and then they become must-sell if there isn't family wanting to assume the live-in role. That's a big theme coming up, a lot of people on the Islands and Coast are in that boat. |
|||
« Next Oldest | Next Newest »
|
Users browsing this thread: 1 Guest(s)