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Come Gawk at Deluded Home Buyers!

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October 15, 2007 – Comments (4)

These stories all seem to share the same, hilarious premise:

The couple ended up purchasing a home for $355,000, which was a savings of more than $100,000 off the market rate for the 2,000 square foot home.

Ummm. No. If that's what you paid, that's the market rate. The $455,000, original asking price, that's the pipe dream from last year (or the year before) that no longer holds true.

4 Comments – Post Your Own

#1) On October 15, 2007 at 9:32 AM, TMFBent (99.82) wrote:

Make that deluded mainstream media. The buyers, in this case, seem to know what the market means. It was the daft writer who penned the offending, italicized nonsense above...

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#2) On October 15, 2007 at 10:14 AM, devoish (98.53) wrote:

Reminds me of a TV announcer at a recent soccer match that described a shooter as being "robbed by the crossbar". Of course in the announcers defense he did not have time to proofread his play by play.

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#3) On October 15, 2007 at 10:49 AM, TMFBent (99.82) wrote:

Well, the buyers here aren't 100% delusion-free. They're quoted as saying this was their "first and only" chance at buying a home. Clearly, they think the bottom is in, but all signs point to the opposite. Sounds like the marketing folks at desperate home seller offices are doing their job well, convincing people that these low-low prices won't be around much longer.

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#4) On October 15, 2007 at 4:22 PM, cabuilderboy (87.02) wrote:

You are so right. I was at the Anderson Homes auction, since we are a direct competitor. Forget the asking price, since Anderson was between $70K to $100K over-priced to start with, I can assure you. In fact, they actually have 63 standing inventory homes in the community, a stagering number for any builder. I have been saying for about a year, who the hell finishes 63 homes in a market, which began showing signs of a decline since September 2005. To be honest, I thought the final sales prices would have been much lower. The best deals were the homes above 2,700 square feet.  

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