{"id":2174,"date":"2007-11-06T09:58:11","date_gmt":"2007-11-06T16:58:11","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2174"},"modified":"2007-11-06T12:30:03","modified_gmt":"2007-11-06T19:30:03","slug":"the-guy-down-at-the-car-wash-gets-it","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2174\/the-guy-down-at-the-car-wash-gets-it\/","title":{"rendered":"The Guy Down At The Car Wash Gets It…"},"content":{"rendered":"

There’s a lesson in all this, I promise you<\/strong><\/p>\n

In a transitional part of Atlanta, there now stands a brand spankin’ new car wash. It used to be a Burger King, but that closed years ago… and after demolition, this lot sat vacant for several years.<\/p>\n

Fast forward a few years, and a sign went up announcing the construction of the car wash. That sign was up for at least a year in advance of the car wash actually being built… so on this busy street – there was NO question that EVERYONE in the area knew a car wash was coming.<\/p>\n

So a few weeks ago, they opened for business – all bright and shiny – and offered a grand opening special of $5.99 to wash a car. They had a guy holding the sign out at the street to make sure everyone knew they were open and that a car wash was only $5.99.<\/p>\n

Then, the following week, the sign guy was still out on the street – waving the public in – but this time, his sign stated “$4.99” – instead of the previous week’s “$5.99”. Hmm… maybe they’re making it up on volume, who knows?<\/p>\n

Another week goes by, and now the sign guy is holding a sign stating “$3.99”. Do you see a pattern here? Good. You’re paying attention. Because there is one.<\/p>\n

The car wash still does not really have any customers that I can see. And I’d be willing to guess that the owners are starting to panic. After all, they probably spent a million dollars building this place.<\/p>\n

So here’s my analysis and how it relates to real estate:<\/strong><\/p>\n

The car wash owners obviously realized that the market did not accept their initial price – no matter how much promotion they had done… and they responded with price adjustments.<\/p>\n

Home sellers should take note of this market economics fundamental.<\/p>\n

However, what the car wash owners have failed to realize is that two miles down the road is a well-established car wash that has been there for over ten years… and they have a $3.00 car wash. So – unless they add more value Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There’s a lesson in all this, I promise you In a transitional part of Atlanta, there now stands a brand spankin’ new car wash. It used to be a Burger King, but that closed years ago… and after demolition, this lot sat vacant for several years. Fast forward a few years, and a sign went […]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,5,10],"tags":[],"class_list":{"0":"post-2174","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-general","7":"category-real-estate","8":"category-realty-reality","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":11106,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11106\/ok-ok-i-finally-get-it\/","url_meta":{"origin":2174,"position":0},"title":"OK, OK, I finally get iT!","author":"Tom Johnson","date":"January 31, 2010","format":false,"excerpt":"iPad is the real estate kiosk. I found this leaked video from December. The earth moved for me when I saw the guy change the kitchen cabinet finish. The 3D CAD interior design idea has been around for a while, but now you can put it in HER purse so\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4822,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4822\/please-come-again\/","url_meta":{"origin":2174,"position":1},"title":"Please Come Again","author":"Thomas Hall","date":"October 5, 2008","format":false,"excerpt":"According to the clock on my dashboard it was 2:43pm - where had my day gone?\u00a0 - I couldn't help but wonder.\u00a0 I had just wrapped up with my client who proudly unveiled the newly renovated rental units at the building he just purchased on Washington Park - the proposed\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18369,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18369\/overnight-news-with-public-schoolings-self-destruction-kids-who-think-different-will-get-a-chance-at-an-education\/","url_meta":{"origin":2174,"position":2},"title":"Overnight News: With public schooling\u2019s self-destruction, kids who \u2018think different\u2019 will get a chance at an\u00a0education.","author":"Greg Swann","date":"August 6, 2021","format":false,"excerpt":"So my wife cooks with the big ugly pans, and she leaves them dirty because she know I don't like for her to wash the big ugly stuff. But she leaves all the other dishes dirty, too, knowing that I can't wash the big ugly pans until all the smaller\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":484,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/484\/if-you-thought-greg-had-a-lot-on-his-plate-in-the-blogoff-i-almost-got-locked-up\/","url_meta":{"origin":2174,"position":3},"title":"If you thought Greg had a lot on his plate in the Blogoff — I almost got locked up!","author":"Cathleen Collins","date":"September 28, 2006","format":false,"excerpt":"Responding to Dustin's offer to help Ardell during the Sellsius 101 Blog-a-thon (Yikes, Dustin! I know it's the home team and all but 1. that woulda been cheating; and 2. you shoulda had more faith in Ardell; and 3. you don't write like Ardell; and 4. that woulda been cheating!),\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4194,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4194\/the-belly-to-belly-dilemma-questions-you-must-answer\/","url_meta":{"origin":2174,"position":4},"title":"The Belly To Belly Dilemma: Questions YOU Must Answer","author":"Jeff Brown","date":"September 3, 2008","format":false,"excerpt":"I was inspired to republish this post, which was first seen here almost 18 months ago, after reading the answer my son gave to a Brown & Brown client yesterday via email. I've spent four years mentoring him within an inch of his life. Pride bubbled up from nowhere as\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1317,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1317\/brokers-agents-how-do-you-answer-prospects-and-clients-questions\/","url_meta":{"origin":2174,"position":5},"title":"Brokers & Agents: How Do You Answer Prospect’s And Client’s Questions?","author":"Jeff Brown","date":"April 18, 2007","format":false,"excerpt":"It's shameful the way I used to answer questions from prospects or clients. The excuse of age is available, as I was only about 27 or so. But even youth, or having just transitioned from homes to investments doesn't wash as an excuse for my pitiful performance back then. It's\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2174"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2174\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}