Relearning an Old Lesson the Hard Way
1-6-08_ Carol Lloyd’s Sureal Estate column in today’s business section of the SF Chronicle gives some excellent examples of what we’ve been talking about this week (regarding drawing conclusions from regional or city-wide sales statistics). Folks are amazed to find that there can be multiple offers in one neighborhood while in an adjacent neighborhood sellers can’t find a buyer, regardless of how many times they drop their asking price. This is the point in the real estate cycle when people painfully rediscover what is really meant by “location, location, location”! That old advice to buy the worst house on the best block you can afford is still the best.