I wish I could count the number of times I have listened to seller’s complain that their property is just sitting on the market, receiving no interest, just to hear that they based their asking price on what they paid for the home in 2006.

Do buyer’s care what you paid for an asset?  Frankly, No.  If I paid $100 a share for stock in of Bank of America and today it’s trading at $5 a share, does an investor care that I paid $100.  Of course not.   And, a home buyer is no different.

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