Century 21’s CEO takes a “$200,000 hit” against his own real estate property (his home)
…well, actually not really a loss, but the CEO Tom Kunz had a $1.3 million dollar cash offer for his home in Tuscan Ranch, California in 2004, but turned it down. A home in the same subdivision sold for $1.1 million dollars and is supposedly identical to his home. He says “I could sit here and say, ‘Oh I lost $200,000.’ But I’ve still made about a $700,000 profit,” he said in the interview late last week about the problems facing the housing market.”
NAR or the National Association of Realtors showed the glut of homes on the market hit a 16 year high. Sales for the median home price fell for the 12th straight month according to the NAR and the source of this information. Kunz says since sales are down, it’s a great time to buy. Of course he would… He may be right, but the question is have we reached the bottom yet?
I knew this was coming. Part of the reason to get out of the business was this, but as I’ve stated, it’s definitely not the primary reason. If I was in the United States, I’d probably still have my license and help all the past clients who I really appreciate like Angela and Pete in Kirkland, the Beltre’s and Mario in Sammamish, and the many others who I really loved working for.
Brandon - where in the world are you now?
Why do you ask Joe?