How pissed are the neighbors getting at smart homedebtors who are lowering their prices, selling their debt-traps, and taking the money and running while the getting is still good?
Got comps? Got ammo?
Here's just one case of "how dare they! they're screwing it up for everyone" that's playing out around the world today... Folks, there will be some ugly stuff during the meltdown. Be careful out there homesellers! Extra credit if you get the photo.
Ashburn, Va.: I’m so mad at my neighbor. I bought my new home here in Ashburn last summer and plan to sell it next year (after holding two years to avoid taxes) to make a nice return on my investment.
The problem is my neighbor is trying to sell his house (very similar to mine) right now and he keeps lowering his asking price. Each time he lowers his price, I see my potential profits next year getting squashed.
Doesn’t he realize he’s hurting the comps for all of his neighbors by doing this? I don’t think he is acting very “neighborly” by doing this. I want to say something to him and tell him he should stop putting his interests ahead of his neighbors.
Its people like him who are ruining the market for the rest of us. If he would just refuse to lower his price, we could maintain our comps and everyone would benefit. What can I do to stop him?
Kirstin Downey: Wow. Interesting question. There’s nothing you can do. It’s his house, of course. It’s frustrating, to be sure. One word of advice: Don’t resort to violence.