Tuesday, June 03, 2008
sixes and nines...and eights
I've been at sixes and nines over the RE market for some time. But what about eights?
I came across this place (V712672) when checking the state of the market. The wish price is $888,888.00. Do you think they are marketing to the Chinese demographic - who have a thing about the number 8?
Rob Chipman talks about "sharp pricing"; I think that this place is sharply priced (though ridiculous). Would a Chinese buyer risk bidding $850K, or $799K? That would wreck the numerological perfection of the pricing, and wipe out any good luck and prosperity associated with the price.
What about over-bids? 'I'll give you $888,888.88'.
Maybe it will just sit until it is $444,444.00. But that might mean death. Hmm. Maybe this place will indicate the death of the boom.