How Good Is Your Parachute?

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

Imagine a man or a woman buying a plane ticket. S/he goes on the net and searches for the best deal. S/he finally finds one. It is an exceptional price, so s/he is thrilled.

Small problem, however. The seat is not by the window, and s/he would like it by the window.

Is there anything by the window? Yep, but $200 more. What if s/he waits? Well, the seats are going fast, and the deal might be gone.

S/he still decides to wait until there will be a seat for the same money but by the window.

One hour later the deal is gone, and s/he has to book the ticket for $250 more, but by this time there are no window seats left, so s/he pays for a middle seat $250 more.

The funny thing is that s/he is happy, as this was the last ticket sold and 5 minute later it would be already too late. There might be someone who had missed the plane, and isn’t it a consolation?

Very similar to real estate.

Customers saw a 3 bdr/3 bath unit in Palma Bella in Daytona Beach Shores in 2009. They liked it but did not buy. 2 years later the price is $240K more. It is actually higher than in 2009 by more than half of its price.

palma bella daytona beach shores

They find another condo with still a very good price, but only one unit at this price. So, everything looks fine. Except that they would like a seat unit next to it. Yes, but a seat unit next to it is $200K+ more.

Oh, well, they will wait.

No problem. Come to the balcony, please. Look up there. See the plane?

Say “Good bye”…

P.S. When you need to fly and you like flying 1st class and can only afford economy class, is there really a choice?

Yes… buy economy or stay home

Why? We want to fly 1st class with no money down or ever and the Seller will pay for it.

Yeah… make sure you have a good parachute and learn how to say “Nice to meet you” in Great White’s language.

image of Jon Zolsky, Daytona Beach Shores

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Rainmaker
67,744
Diane Grady
Coldwell Banker Premier Properties Saint Augustine, Florida - Saint Augustine, FL

That is hysterical! Too funny and thanks for the great blog. I love your sense of humor, but too bad that it is actually true. Buyer expectations are unreal anymore!!!

August 10, 2011 07:45 PM #1
Rainmaker
1,757,913
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

LOL, a grata lesson in there Jon.  Some people just dont' get it do they.

August 10, 2011 10:30 PM #2
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Diane - you do not even know how glad I am that you liked the humor part here. Seriously. The rest of is simply boring (lol)

August 10, 2011 10:36 PM #3
Rainer
90,309
Maya Swamy
Funds Available - Long Beach, CA
Ph.D. Long Beach, CA - fundsavailable.com

Great analogy comparing real estate to booking an airline ticket purchae. Sometimes when you miss it you've missed it.

August 10, 2011 11:25 PM #4
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Maya - a classic dilemma: how to buy today for the price that I saw yesterday

August 10, 2011 11:35 PM #5
Rainmaker
808,325
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Jon - Great analogy.  It's not 2009 any more.  Those days are over, but with low interest rates, it's still a great market to buy!

August 11, 2011 12:52 AM #6
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Gail - we normally do not deal with interest rates and, to tell you the truth, I have no idea what they are. All our vacation condos are bought for cash

August 11, 2011 01:09 AM #7
Rainmaker
1,820,089
Gabe Sanders
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Jon, great analogy.  I'm going to show this to some of our buyers that insist there must be this deal of a century that they can get, but we're not doing our job finding it for them.

August 11, 2011 07:24 AM #8
Rainmaker
825,789
Nicholas Goglucci
South Florida Real Estate & Development, Inc. - Pompano Beach, FL
The Listing Whisperer

Florida is still the best market to buy in - especially the coastal areas. God only made a few places you could live and actually see the ocean.

August 11, 2011 08:59 AM #9
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

gabe - it amazes me that people would insist on looking on "hot" deals and then say "We are not in a rush, we can wait"

They can, but why they think the market will wait for them?

August 11, 2011 09:13 AM #10
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Nicholas - the only thing God did not give us is a time machine to go back and buy at yesterday's price. And, of course, this is what everybody wants

August 11, 2011 09:17 AM #11
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

William - true, so me people never do

August 11, 2011 09:18 AM #12
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Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
Broker/Owner, Integrity Real Estate Services -IDAB

Jon, That is a very good analogy and a fun read.  I'm one of those that waits UNLESS I ABSOLUTELY love soemthing, this I want it now!  Ha.. That doesn't happen very often.  I've bought several pieces of real estate simply because they were the right price but every once in a while there is a special piece that I buy because I really like it.  :)

August 13, 2011 10:30 PM #13
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Judi - waiting is not a problem. But what is the point of a buyer to start figuring thhe cost of removing the plantation shutters in a unit at unbelievable price, when she is not going to buy this unit today, but 2 years down the road.

2 weeks down the road this unit will be gone, and in two years whatever she finds will not have plantation shutters. Why bug people around for specifics, and get quotes then buying is delayed anyway?

One of my today;s clients demanded the designer to give her a quote. The guy called me, asked whether she got the condo, I told him that there is still an inspection to be done, so he told her to call him when it is final.

SHe was so upset with him, but 2 days later canceled the contract. If he agreed, he would simply have wasted a lot of time for nothing

August 14, 2011 11:20 AM #14
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Praful Thakkar
Keller Williams Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jon, very interesting comparison - loved the introduction and how smoothly you slipped into the real estate 'reality'. Like Alan May, you have your own style --- and I like it.

Great message for those who do not want to miss the boat/bus/train or plane for that matter.

August 14, 2011 06:52 PM #15
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Praful - this blog came after I was showing the lowest priced unit to a person who was asking about the cost of repairs, or removing things, and then she said she is not in a rush to buy. Why then you need to know how much would it cost to do something specific to this unit when you are not a buyer?

August 14, 2011 08:55 PM #16
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