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Old 02-19-2007, 02:56 PM
 
2,313 posts, read 2,899,212 times
Reputation: 471

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Quote:
Originally Posted by Jammie View Post
Firemed, you sound like my husband. He doesn't miss that show. I think you made a wise choice in selling and I'd just ignore the other homeowner who wasn't happy about it. Sounds like he made some bad decisions and is just looking for someone to blame and you were that person for the moment. Since you still made a VERY nice profit, it goes to show that you weren't filled with greed and that's a great attribute.
Don't be so sure I wasn't greedy. I was asking $229,000 for the property just over a year ago and turned down offers much higher then I just sold for. As I dropped the price I got offers and always seemed to be a little higher then what people wanted to pay. I rode it down till some reality set in and I decided to sell for the best offer no matter what it was.

I hate to even think how much potential profit I lost in the last year on that piece by not selling long ago. I honestly didn't think it would get this bad. At one point there was a waiting list for builders to build homes and good lots were going for a premium. It all turned around so fast it made your head spin. You honestly didn't know what to do.
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Old 02-19-2007, 04:26 PM
 
2,141 posts, read 6,709,018 times
Reputation: 595
Quote:
Originally Posted by Jammie View Post
Firemed, you sound like my husband. He doesn't miss that show. I think you made a wise choice in selling and I'd just ignore the other homeowner who wasn't happy about it. Sounds like he made some bad decisions and is just looking for someone to blame and you were that person for the moment. Since you still made a VERY nice profit, it goes to show that you weren't filled with greed and that's a great attribute.
I sold 20 acres in september of 2005. The guy that bought it was looking to build 10 large homes on it. He made some money flipping homes but this was to be the big one for him. I kind of feel sorry for him but the greed got the best of him . The land is in foreclosure now and I think he lost it all. Its sad that all the common sense was blinded by the thought of fast money.
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Old 02-19-2007, 04:33 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 13,731,889 times
Reputation: 1026
Quote:
Originally Posted by firemed View Post
I sold 20 acres in september of 2005. The guy that bought it was looking to build 10 large homes on it. He made some money flipping homes but this was to be the big one for him. I kind of feel sorry for him but the greed got the best of him . The land is in foreclosure now and I think he lost it all. Its sad that all the common sense was blinded by the thought of fast money.

greed is human nature. I see it all the time, was watching deal or no deal and people say "no deal" to 6 figure offers and some lose most or all of it. Some people fall for scams, others gamble their money away. Even investing your money, you can lose it. Some people pay big to start a business and it fails. Ive seen restaurants with grand openings just to close down a month later as they got very few customers. Those guys can lose over $100k just like that
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