Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Las Vegas: Confetti

Avoid the Las Vegas Area "EBAY MENTALITY" on the Eve of the Tax Credit Expiring.

You know what I am talking about. You log on five minutes before the auction ends because YOU THINK you are going to snag a bargain. You watch the price slowly go rise until you are one minute out. You place a bid at one minute remaining and then you refresh, refresh, refresh. The price is increasing pretty rapidly as the seconds tick by you.

Your heart is pumping you don't want to overpay but you REALLY gotta have it!

You place your bid 30 seconds out and refresh, refresh, refresh. The price is really going up now.

You place a super high bid at 3 seconds left and YOU SNAGGED IT! You feel pretty good but if you would have used the "buy it now" button 5 days ago, you would have paid less.

I warned about this mentality last October - three weeks BEFORE the tax credit was SUPPOSED to expire last time.

I warned about using the "buy it now" button in the middle of November so that you could position yourself to get a decent price.

At this point it is either best to write write write (without getting caught up in "EBAY MENTALITY" and carefully looking at comps from the last two months!) - OR - Wait and risk the odds of the tax credit not coming back and interest rates possibly going up. Do stuff that makes sense and promise yourself not to participate in irrational buying behavior!


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Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comment balloon 39 commentsRenée Donohue • March 17 2010 06:29PM
Avoid the Las Vegas Area "EBAY MENTALITY" on the Eve of the…
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You know what I am talking about. You log on five minutes before the auction ends because YOU THINK you are going to snag a bargain. You watch the price slowly go rise until you are one minute out. You place a bid at one minute remaining and then… more