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Re[2]: [at-l] Saddleback

5) His asking price for the property is well above the fair market value. >
Jim McBride
     Then tricknee twinkled with:
     So Jim 
If the land were yours, would you just give it up or would you try to get as 
much out of it as possible like more than 99% of us would.

        And Sloetoe jumps into the fray with:
     Economically speaking (which you are seeking to do), it is inefficient 
     to hold an asset which does not gain in realized value at the same 
     speed as other obtainable assets. Efficiency (translated: "common 
     sense") dictates sale of the lesser appreciating asset for the 
     greater. Sell the land, buy a couple of T-bills.
     Application? Here:
     As the owner (Dan H?) has had the property on the market for a 
     reasonably valid stretch of time that potential willing buyers might 
     have bid for it and competed with themselves (according to their own 
     expectations and valuations) by bidding up the price, but the owner 
     has not yet sold it for the "asking price," economic logic dictates 
     the asking price be lowered, and the market be resampled. This is 
     repeated until such time as the overall market produces a willing 
     buyer; then a deal is consumated. By not following this simple 
     procedure by lowering the asking price, the owner indicates that, for 
     whatever reason, he is not willing to respond to the market's (lesser) 
     valuation. It's that simple.
     Translated? "99% of us would get a clue."
     (glad, on occasion, to use all that econ....)
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