Thursday, June 25, 2009

New Terminology

I'm in West Palm Beach currently, and last night I struck up a conversation with the bartender at the resort. It turns out she, until recently, was a used home salespers--ERRR, real estate agent.

Apparently the resort (currently at only 50% capacity) is trying to sell some of the units as condos, starting from $900,000 and going all the way up to $3,000,000 for the four-bedroom ocean-view units.

To no surprise, in this economic environment they haven't exactly been selling like hotcakes (Florida is arguably in worse shape than California, real estate wise). BUT, the bartender used a realtorese term I have never heard before when trying to justify egregious prices for unfinished condos sporting concrete floors and exposed drywall tape:



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