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There is a reason Realtors belong to one of the least respected "professional" groups in the country. Half your membership is dishonest. The other half is incompetent. Your entire business model is broken and diametrically opposed to the best interest of consumers. Your lobby enforces it with Cosa Nostra like ruthlessness. Your day is coming pal...trust me.
MP is still depreciating. It has not stabilized. If you believe it has stabalized, you are sorely misinformed. Inventories are historically high and most houses are simply sitting. What will reduce inventories? Lower prices. The further depreciation of MP real estate is inexorable. Only a fool would believe otherwise. A fool or a Realtor.
fk
Quote:
Originally Posted by Theresejenkins
Realtors actually dont make financial decisions on behalf of their clients. You obviously had a terrible experience with a Realtor and that's unfortunate. Realtors can not predict the future - just fyi. Who's to say that your soothsaying knowledge of the future 20% decline is what is correct? Do you have information that you are privvy to that the rest of the country doesn't? A Realtor is knowledgable in the areas they service with verifiable information, by no means would a Realtor assume to give financial advise to a client looking to purchase. "Professional" is a behavior, and "knowledgeable" is subjective.
Where is the data? There are many factors that will cause property values to fall. You are only speculating.
When buying a property just do your homework and get an accurate CMA and see how long the property has been on the market. Have your realtor poke at the seller to see how motivated they are to sell. Certain circumstances may allow them to come off considerably on the price of their home. This is a great market for buyers. We were able to get 15 percent off the original listing due to length of time on the market and it was a short sell.
Good post, but let me just be clear - that market is still dropping. It hasn't stopped dropping. Anyone who thinks otherwise is simply deluding themselves.
fk
Quote:
Originally Posted by JimmyCh
Data is everywhere online. Of course this is a great market for buyers but there is no guarantee that the market can't drop again. I just brought my house in one of the best neighborhood at 23% off what previous homeowner paid and it is not a short sell (now my Realtor know my handle on this site, too). Close to 25% of its original list and 15% off the final listing price, and guess what, CMA only going to show the difference between the final listing and closing price.
Thanks for those of you who have "helped" me figure out neighborhoods (the original question). Also, love the additional input. It helps give me a prospective of whats going on still. We have been out of the "buying" market for quite a while now. Want to get the best deal and ultimately the perfect house for my family (in the best neighborhood).
As an owner of 3 homes with 2 being rented, this is the best time to invest. At least you are contributing to the rental market by paying someone's mortgage, insurance, and taxes. People like myself need people like you. Good for you.
Yes it was a great negotiation and thank you. The property was already listed 10-15 percent under market value prior to negotiations. We got an additional 15 percent with 10k in closing costs from a bank owned home which is was very hard to negotiate due to Fannie Mae approving the final sale.
those are all great locations, mt.pleasant is beautiful all over. you may wanna look at homes in dunes west,too. carolina homeowner is right. if you want all the access, no cookie cutter homes&really nice neighbors hidden cove or hobcaw creek (they're right next to each other)are the best choices. i work all over mt. pleasant, the people who live there are really nice&the homes are beautiful
Money Magazine appears to have just come out with their latest rankings of projected one year forecast of real estate prices in different US cities. Charleston was rated number # 22 of the projected price increases in the country.( Quarter 1 2010 - Quarter 1 2011). I wonder whether these rankings were just "pulled out of the air" or based on an objective evaluation by a qualified person in the field of real estate and/or economics.
Quote:
Originally Posted by FallingKnife
Good post, but let me just be clear - that market is still dropping. It hasn't stopped dropping. Anyone who thinks otherwise is simply deluding themselves.
Actually, it's people like me who need people like you. Fools who over-pay for housing and end up in a short sale or foreclosure. I am in the top 5% of MP income and I'm renting for one reason - I'm smart. I understand the financial markets and I understand the housing market (the two are very closely-tied). You got a crap deal, you're just not smart enough to know it. In a few years, you'll see just how CRAP the deal was. LMAO!
fk
Quote:
Originally Posted by carolina_home_owner
As an owner of 3 homes with 2 being rented, this is the best time to invest. At least you are contributing to the rental market by paying someone's mortgage, insurance, and taxes. People like myself need people like you. Good for you.
Yes it was a great negotiation and thank you. The property was already listed 10-15 percent under market value prior to negotiations. We got an additional 15 percent with 10k in closing costs from a bank owned home which is was very hard to negotiate due to Fannie Mae approving the final sale.
Joe - you've been lying to people on this forum for three years. You've been consistently wrong for three years. How you sleep at night is beyond me. You and people like you ruined many financial lives and you continue to practice your voodoo arts...just a sad, sick, pathetic industry you belong to. I take great satisfaction in knowing how much your income has dropped over the past 2-3 years...and great satisfaction in knowing many of the worst liars and hacks in your industry are now working a cash register.
I read the Money article and there wasn't a shred of actual evidence in it supporting their assertion. Charleston real estate is VERY, VERY sick at the moment. There is no cure in sight. Again, Realtors will say anything to get people to believe that housing is about to rebound. You've been saying it since the crash. So far, you've been wrong. Hell, most of you were denying the crash up until the very moment it became so obvious even a rube could decipher it.
I think most Americans are now smart enough to know not to listen to a Realtor. For those that haven't figured this simple lesson out, financial pain probably lies ahead.
fk
Quote:
Originally Posted by USCJoe
Money Magazine appears to have just come out with their latest rankings of projected one year forecast of real estate prices in different US cities. Charleston was rated number # 22 of the projected price increases in the country.( Quarter 1 2010 - Quarter 1 2011). I wonder whether these rankings were just "pulled out of the air" or based on an objective evaluation by a qualified person in the field of real estate and/or economics.
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Also, love the additional input. It helps give me a prospective of whats going on still. We have been out of the "buying" market for quite a while now. Want to get the best deal and ultimately the perfect house for my family (in the best neighborhood).
