Eastbound and Down

On Hobart's eastern shore sits this 4x2 - now begging for a bid at 440k.See nothing was forthcoming at an ambitious 500k and reality soon set in.

Well not quite that much reality, this house is two weeks off chalking up six months on the market - one of those dubious milestones, that can only signal one thing - buyers must be stupid!

That's what it is, right? Not your agent actually levelling with you, very bluntly and suggesting you're well overpriced. Or you actually considering your price might be too high.

No it must be those morons who want you to give it away!

Unfortunately, in these circumstances, modesty prevents a discount, because back in late 2007 the princely sum of $430k was paid. And we all know real estate only goes up, so how can anyone expect to sell for less than they originally shelled out?

Things get very sticky around this point, with saving face the prime objective, but ask yourself a question - when Dun & Bradsteet reports that referred debts for the June quarter have moved above a $1000 average (the highest since 2006), are things looking up with buyers more likely to meet your pricing?

As D&B says: referred debts are traditionally the first sign an individual is facing financial trouble.

Or should you be sucking it up? Accept that you're selling for less than you paid and finally learn that old Tasmanian saying, one I hear is also a favourite in Tennessee and apparently Texas.




Don't get fooled again.