A plugged-in reader reports:
A feel good story (for me, not my new landlord).
From reading a large majority of the posts and comments [on SocketSite] and just from walking around Cow Hollow/Marina it was pretty obvious there was a lot of rental supply. My wife and I had outgrown our place and needed either a 2BR or a 1BR w a dining room – we needed 3 rooms plus a kitchen. We figured there would be a lot out there and we would have our choice of solid places. We saw some good places but the one we liked the most was a bit more than we wanted to spend.
Then LMRiM posted something about how asking rents were just that – “asking.”
The place we liked had been empty for 2 months. They were asking X. I called up and offered X minus 12%. They told me I wasn’t in the ballpark but they would keep me in mind. The place languished, then I saw it on a broker site, so I figured there was room. Then they lowered the rent to X minus 6%. I called em up, put in an app and [we move in soon].
The only thing we’ll add, “asking” isn’t just for rents.
UPDATE: Another plugged-in reader adds:
Also got a great deal on a house – Noe, single family home w/ great yard for ~3600. The ad that we responded to asked $4000 – funny thing is broker also listed the same place for $5000!!…Apparently bought at 950k, tried to sell at [$1.25M] no takers for some reason.
We’ll let you do the math.