(no subject)

[theducks]

Dear potential sellers of property,

A renovated 3 bedroom house in Greenwood is seemingly worth $395k (1, 2).

Given the above, despite what you may believe (or your unaffiliant and overly optimistic real estate agent), an unrenovated house a few streets away is NOT worth $390k (here). People don't pay for potential. People pay LESS because of the potential, generally by the amount it would cost to bring it up to spec, and minus a profit margin.

Sigh.

Comments

[dannipenguin.livejournal.com]

Regardless of your passive-aggressive letter they will never read, surely it is worth what someone will pay for it. Also, one of those more expensive properties is a duplex (apparently).