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Old 03-19-2014, 10:39 AM
Fulcrum525's Avatar
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Join Date: May 2008
Location: CT
Posts: 2,117
Real estate market. Some people are still nuts!

Just a quick rant on something that's been really bugging me lately.

The market dictates the price of real estate, we all know that. I've been looking for houses for some time now and I have to say that even though the market crashed a few years back and prices are still low; there are still sellers out there who are absolutely delusional in the price that they think they can get.

On average houses in the area where i'm looking range from $110 to $150 per square foot. Today a saw a new listing for a little ranch priced at an absolutely ridiculous $293 per square foot! (1,278 sq feet) The thing is that this isn't the first time that i've run across this. I had an identical situation last fall with a seller who flat out refused to drop his price even $1 for an even smaller house (No surprise it's still on the market )

I could see a price like that if it had every extra feature conceivable (Everything updated and in perfect shape, a barn, a pool, gazebo or anything else that could be tacked on) But all I see in the photos is an average 2 bedroom, 2 car garage (Attached) house with all of the original fixtures. (Counter-tops, cabinets and a lot of 1960s era wood paneling) Now with that being said, I don't mind wood paneling or older cabinets etc; its a question of ridiculousness of what you're paying vs what you're getting. The ONLY additional selling point is that it has an extra albeit mostly rocking and hilly 5 acres of land. Still doesn't come close to justifying the price though as a number of reasonably priced houses in town have an equal amount of land.

What is wrong with people?
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