Understanding Value

😂

Jack and the Beanstalk?

We sold a house a couple of years ago. My daughter had her heart set on a price, because we needed that price to buy the house we wanted. Our house was not in good shape. We painted, and washed, and tore up shrubs. We polished as best we could and slapped that price tag on the house. Realtors were skeptical. One offered 1/3 less than what my daughter was going for. My daughter persisted. Finally we found a realtor willing to ask our price.

One potential buyer offered dramatically less than she wanted, at least 25% less. Two days later a man drove by, jumped out of his car, looked in the garage window and offered very close to asking. We were stunned, but waited. A few hours later he offered full price.

What is something worth? It's not an objective value. This man had tried to buy a house in our neighborhood a few months before and missed out. He had a young child. We lived in a great school district. He wanted that house for his child. He wanted that school district for his child. And, he was a contractor, so he could afford to fix the house up.

The house was not worth the money, but it was worth it to him.

A really lucky day for us.