805 Local

We have this great buyer who wants to purchase a home in a certain school district.  He is well qualified, nothing to sell, and pre-approved for his loan.  With that said, we have been showing him properties all throughout the area of this particular school district.   And believe me — we have seen lots of homes! 

So this past week we were out with him looking at the new crop of inventory.  (Inventory in ‘Realtor speak’  means houses for sale) 

There were several to see but this one house really stood out.  Not because it had a view.  Not because it had a brand new kitchen or baths.  Or a huge yard with a pool.  Or an addition.  This house stood out because of its list price.  The list price was way, way higher than any other house in the neighborhood.  So he asks us,  ”What’s the deal?  Why is this house so much higher?”

We did our normal checking again to see if either one of us missed something.  Maybe new dual-paned windows and French doors or maybe did they add a basement?  No and of course not.  How about tile or wood flooring?  Zip.  Nada. 

We looked at each other and both said, “gold nails.”   There must be “gold nails” since nothing else appears to account for the list price.  It is a phase we discover when listening to a national real estate speaker years ago.  He used the term to identify a seller who was asking too much but for no reason except that they wanted or needed that sales price. ”Gold nails” are not visible to the naked eye; only to the eye of the seller. 

We all chuckled and went on to the next house.  And thankfully the house did not appear to have any “gold nails.”