Everybody’s spending his Facebook IPO money before it’s converted to cash! The Bay Area is going to hell in an Hermes handbasket!
Real estate agent Jeff Appenrodt said a client of his recently was among 51 bidders on a three-bedroom, one-bath Edwardian-style home built in 1903 that was showing its age. The client, a tech entrepreneur, made an all-cash offer 50% over the $849,000 asking price — and got thumped. The house sold for $1.4 million to a rival bidder.
Here’s your other damning quote, from a real-estate-broker-to-the-rich: “Everyone feels confident again.” Muh ha ha, you know what that means. (Comeuppance.)