clock menu more-arrow no yes mobile

Filed under:

Home Sellers Digging In Their Heels Over Asking Prices

New, 46 comments

There's a strain of crazy spreading among many sellers, reports the NY Times. The paper says folks are refusing to come down on their asking prices, convinced their homes haven't been devalued in the housing crisis. L.A. real estate agent Robert Glinert says he's been turning away potential clients because they absolutely will not come down to Earth. The Times says emotion and ego are at play here —people don't want to believe their beloved homes are worth less than they wish they were, and that selling those abodes for below the asking price—and in some cases, below their purchase price—is admitting defeat. The Times advice? Take the money and run.
· Homeowners who won't cut the price [NY Times]