Buyers Folly

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Now the story goes that penguins will push one unlucky buddy into the water and if he doesn’t get eaten, they all jump in. This is one possible analogy that could explain why buyers wait to make an offer until there are other offers on the table.

The ” if it is good enough for someone else, it is good enough for me” theory can only take you so far in explaining how a property can sit for months and then have multiple offers. Just as likely, there has either been a price reduction or other more attractive properties in the same price range have gone under contract leaving the property in question at the top of the list in several buyers minds. Seasonality may play a role.

Could be the buyer really just needs a kick in the butt to get going.

Hoboken Condos 2008
Since 1/1/08
Price Changes 53
information deemed reliable

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