Quote:
Originally Posted by SwampYankee
Or any property. There are two commercial properties on our main strip in town that have been for sale for 15+ years each. They've been vacant for that long and each has a building that would be difficult to adapt to a different type of business. They haven't budged from their $4MM and $2.5MM prices respectively in that time. Maybe they're hanging on desperately hoping to get more than they owe? I just don't get why they wouldn't budge on the price just to be free of them. They truly are white elephant properties at those prices.
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Friends of mine here in Dallas, Texas put their Preston Hollow home up for sale for almost 10 years before it sold at the price they wanted. They were offered $1.5 million, but stuck to their guns and got $3.2 million. Patience does reward the patient.