Doesn't it seem tempting as desperation sets in to go out and put in some low-ball offers to see if they'll get accepted?
But is this like the catch-a-falling-knife strategy during the dot-com implosion?
I'm seeing condos going up like mushrooms here in Arizona, and you just know the developers (or the flippers) are freaking out. So how about a nice 20% below list offer? Or maybe 40%?
One condo development going up here in Scottsdale, in a REALLY bad area, has eight units, priced from $500,000 to $600,000 for like 1200 square feet. Seriously.
Wonder how low that developer will go. $300,000? He'd likely still make money at that price.
Let's hear your take
December 21, 2005
Posted by blogger at 12/21/2005