The Definition of Massive: Where All Is Relative
Massive: adj. (a), large, weighty, heavy or bulky. (b) much larger than normal. (c) of great significance or import; overwhelming. When I think massive in terms of real estate, I think of size (see photo at right) and price.
Case in point would be the new billion dollar home being built in Mumbai, India. Reportedly the largest and most expensive home ever built, the richest man in India, Mukesh Ambani, has commissioned plans for a 27-story skyscraper that he intends to use as his main family home. Starting with 6 garages, 21 floors of living space (each uniquely designed and decorated), he has commissioned the architects of Mandarin Oriental hotel properties to come up with the unusual-looking abode. The home will have helipad, health club, pool, and 600 servants…all for a family of 6. (For a view of the plans, a short clip on the construction, you can go here.)
I use this obscenely massive example just because I can. It really isn’t part of our reality. But what is part of our current climate of cost and size are price reductions. And when I read “massive price reduction,” I am either thinking a large percentage (20% or more) or a large chunk ($100,000 or more). I don’t think this is an unreasonable assumption. But, like my aunt always said, you know what it means to assume – it makes an ass out of u and me. And so it is today, with our Daily Stat Leader in San Leandro. Located at 446 Caliente Drive, this condo has 2 bedrooms, 2 baths and 1,060 square feet. Built in 1980, it has been on the market 150 days. The home last sold in August of 2004 for $325,000, which was the original selling price when it was put on the market in December. Now four months later, the listing description screams MASSIVE PRICE REDUCTION. Yes, girls and boys, massive means $30,000, which is a 9% reduction. In my world, this is not massive. I would imagine that in your world, it isn’t massive either. And any realtor nowadays should know that this is not massive. I can only guess that the owners feel it is massive, hence the listing description. Size is in the eye of the beholder, apparently. If anyone wants to chime in and leave a comment about a really massive reduction, to help me with my point, please feel free.
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