After an abysmal Sunday of open houses with poor attendance and zero offers, Property Grunt licks his wounds and theorizes that buyers are getting hip to the state of things?that the market is gradually turning in their favor. He puts it all in scientific terms:
This seller's market has forced buyers to experience the phenomenon known as BOHICA.(Bend Over Here It Comes Again)which comes in the form of overpriced apartments and bidding wars. A year or two ago it was not uncommon for sellers to raise their prices during a bidding to see who would be the last buyer standing. And some buyers would accept the new price changes. If a seller were to do try that now, a buyer would respond by putting their foot up the seller's ass since buyers are more likely to avoid BOHICA.Perhaps it's best if we all avoid BOHICA, no?
· Status report from the open house front [Property Grunt]