Tuesday, December 16, 2008

One Data Point on the Current Value of Cash

Yesterday we closed on the sale of our Bethesda house.

We received two potential offers on the same day: offer X, which had a financing contingency, and offer .94X, which was a cash offer. We took .94 X.

The amazing thing is that the offers came within a week of listing the house. Consistent with Levitt's thesis, the agent encouraged us to take one of those first two offers. But there was an identification problem--we didn't need a lot of convincing.


Anonymous said...

good for you, Richard...that's great..

- ledz -

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