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Old 05-21-2010, 05:34 PM
 
11,813 posts, read 21,381,718 times
Reputation: 11496

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It's crap that the REALTOR association is basically resorting to scare tactics to encourage people to buy what will ultimately be the single biggest purchase of their entire lives and what will most likely determine how the rest of their life goes (ie saddled with debt, buy a house they can't afford on a whim, etc).
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Old 05-21-2010, 05:41 PM
 
Location: Charlotte, NC
2,193 posts, read 4,535,191 times
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I don't like some of the bs some realtors feed. Like 'now is the time to buy, interest rates are going up so your monthly payment will get higher etc etc.' But I agree with Ani, I'm the one telling the realtor what I want to do because I do my own research. I research neighborhoods on my own, run the numbers myself, research comps/sold prices myself etc. People put too much faith on others (like realtors/financial advisors, etc). But no one will look out for your best interest better than you. So you have to do your own homework.

Quote:
In their small minds they think they are "experts" when they couldn't sell their way out of a paper bag if it was ripped open and on fire.
I think realtors shouldn't be viewed as a salesperson, relators imo are there to assist with the transaction, handle paperwork, schedule inspections/appointments, negotiate repairs and be the go between buyer and seller during an emotional time for both buyer and seller.
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Old 05-21-2010, 05:59 PM
 
Location: State of Being
35,885 posts, read 67,009,663 times
Reputation: 22370
Quote:
Originally Posted by sheenie2000 View Post
I think realtors shouldn't be viewed as a salesperson, realtors imo are there to assist with the transaction, handle paperwork, schedule inspections/appointments, negotiate repairs and be the go between buyer and seller during an emotional time for both buyer and seller.
That pretty well describes what I think, too.
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Old 05-21-2010, 06:12 PM
 
339 posts, read 624,271 times
Reputation: 184
Homes are investments just like stocks. Homes, like any investment can increase and decrease in value. I think we've just been so used to values going up that we just assume that will always be the case. I've lost money on my home, too, but like any investment that was the risk I took in buying in the height of the housing market.
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Old 05-22-2010, 05:33 AM
 
55 posts, read 61,832 times
Reputation: 41
... so I'm about to finish year 4 of a 5 year 6.25% ARM w/ no PMI despite probably 10% net depreciation since I bought the house.

It sounds like I need to go ahead and just refi, if rates are going up...

Trying to make some tough decisions because we're about to put child #2 in daycare. We'll only have both in daycare for about a year, but it makes me shake my head that the monthly daycare bill will be more than the mortgage.

Just mentioned that last part because every dollar helps. I had thought rates were gonna be down for a while, or maybe even go lower, so I was holding off.
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Old 05-22-2010, 06:58 AM
 
169 posts, read 280,560 times
Reputation: 84
Papers said with the $8,000 credit taken off the table that prices would continue to decline and although last week interest rates declined to amongst the lowest now is the time to re-finance unless you want to gamble a bit longer. Although many profess to predict rates and prices now is the time to be able to rest easy. CMFCU has good rates and they are opening new branches all the time and the only thing I don't like about their policy is that they will not debit payment outside of their bank so you must deposit into your account. Rates went to 4.84% or there abouts and they charge 5%.
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Old 05-22-2010, 07:30 AM
 
Location: Union County
5,783 posts, read 8,411,000 times
Reputation: 4818
Quote:
Originally Posted by lumbollo View Post
Mikey you are hitting the nail on the head. None of them know. The appraisers, the real estate agents, the banks are all tossing out numbers like a blindfolded person playing darts. Eventually they will hit something.

The fact of the matter is there are no historical precedents for this market and no one has been trained, when they finally accept this fact, on how to determine what property is really worth in this new reality. The buyer, the one who will be paying the bills, really needs to take the long view on housing and ignore the hyperbole about housing from the industry.

The one thing to remember. When the irrational housing bubble was going on, and people were buying places they couldn't afford that also were not anywhere close to being worth what was being paid, there was an appraiser, two real estate agents, and a bunch of others telling them it was a good thing.
Thanks lumbollo... I'm getting pretty good at the estimating game myself looking at so many properties.

I really have a problem with your last statement. It goes back to the email the NAR sent to me. There's a play on the emotions of the transaction that pretends to be financial advice. It's rather shameful.
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