I think my realtor is full of it....prices going up in spring? (sales, real estate)

[ianwaters]

She has said over and over again that if we wait the prices will go up in the spring and I just don't see that happening. I DO think the interest rates will go up a little but prices will go down! I know she wants to make a deal but I feel she is doing the whole high pressure sale and that doesn't work with me.

Anyone else here have an opinion about that? Am i completely wrong?

[I_Love_LI_but]

I agree with you.

As for "your realtor," if you did not hire her as a buyer's agent, she is actually not "your realtor," she is the realtor of whoever is selling the house she is showing you. The seller is her client (even if she is not the listing agent/broker of a house she shows you that is still the case) and you are the "customer." The difference is that she has a legal obligation to act in the best interests of the seller as that is who the contract is signed with.

If you want your own realtor, hire one to act as a buyer's agent.

[Kuota]

Prices will not go up but probably tank even more.

[Elke Mariotti]

Originally Posted by I_Love_LI_but

I agree with you.

As for "your realtor," if you did not hire her as a buyer's agent, she is actually not "your realtor," she is the realtor of whoever is selling the house she is showing you. The seller is her client (even if she is not the listing agent/broker of a house she shows you that is still the case) and you are the "customer." The difference is that she has a legal obligation to act in the best interests of the seller as that is who the contract is signed with.

If you want your own realtor, hire one to act as a buyer's agent.

your advice is right on! I mentioned that in another post as well.

Quite frankly, I don't see prices going up any time soon... Interest rates are another matter, and a decline in prices is often more than offset by an increase in interest rates, resulting in higher mortgage payments.

[justsomedude]

Originally Posted by ianwaters

She has said over and over again that if we wait the prices will go up in the spring and I just don't see that happening. I DO think the interest rates will go up a little but prices will go down! I know she wants to make a deal but I feel she is doing the whole high pressure sale and that doesn't work with me.

Anyone else here have an opinion about that? Am i completely wrong?

There is no possible way that home sales are going to go up in the spring. Everybody is either worried about getting laid off or actually got laid off and is not buying anything right now, especially crappy, overpriced real estate (yes, the real estate on LI is still way overvalued and most homes need tons of upgrades/maintenance).

That being said, the worst thing you could do is listen to any type of salesperson... a realtor is just another salesperson that will tell you anything to get a sale.

[omigawd]

She's obviously trying to make the deal quickly before the prices go down even further. I would be very wary of her, whether she's "your" agent or the seller's agent. Anyone who tries pushing you into a deal with some claim that she has absolutely no backing for is not looking out for your best interest. To the contrary, she's basically scamming you.

Tell the woozy to take a hike and find yourself a reputable, HONEST agent.

[Elke Mariotti]

Originally Posted by justsomedude

There is no possible way that home sales are going to go up in the spring. Everybody is either worried about getting laid off or actually got laid off and is not buying anything right now, especially crappy, overpriced real estate (yes, the real estate on LI is still way overvalued and most homes need tons of upgrades/maintenance).

That being said, the worst thing you could do is listen to any type of salesperson... a realtor is just another salesperson that will tell you anything to get a sale.

Thanks for the generalization.... not!!!

[modmondays]

Originally Posted by ianwaters

She has said over and over again that if we wait the prices will go up in the spring and I just don't see that happening. I DO think the interest rates will go up a little but prices will go down! I know she wants to make a deal but I feel she is doing the whole high pressure sale and that doesn't work with me.

Anyone else here have an opinion about that? Am i completely wrong?

OF COURSE!!!!...... LIST PRICES WILL GO UP IN THE SPRING!!!!

Believe it or not, your Realtor is actually telling you THE TRUTH.

Spring is always the time you will see the highest list prices of the year....the time when new listings hit the market and sellers keep their fingers crossed hoping to catch some sucker from March to June when they will likely overpay by tens of thousands of dollars in order to get to closing before the school year begins in the Fall.

List prices begin to fall by beginning of Summer and continue holding or dropping through the end of the year.

(Of course, the listed prices are "all relative" to the market environment and how much the seller wants to list for).

If anyone thinks that price drops are going to be reflected this Spring by "new-to-the-market" sellers, you are likely going to be very, very dissapointed - - initially.

[justsomedude]

Originally Posted by Elke Mariotti

Thanks for the generalization.... not!!!

Sorry for the generalization but it is basically true. You would have to agree that as a Realtor, your main goal is to sell as many houses as possible. If you fail, you do not make any money. This would include trying anything to convince a prospective client that if they don't act now, they are going to miss the boat. Heck, if I were a Realtor, I would be the first to try and convince someone that the end of the world is coming tomorrow if they did not buy this house today!

Most salespeople will "stretch" the truth in order to get a sale... sales 101. Any salesperson that is 100% truthful, is in fact unemployed...

[Mjeacoma]

Originally Posted by modmondays

OF COURSE!!!!...... LIST PRICES WILL GO UP IN THE SPRING!!!!

Believe it or not, your Realtor is actually telling you THE TRUTH.

Spring is always the time you will see the highest list prices of the year....the time when new listings hit the market and sellers keep their fingers crossed hoping to catch some sucker from March to June when they will likely overpay by tens of thousands of dollars in order to get to closing before the school year begins in the Fall.

List prices begin to fall by beginning of Summer and continue holding or dropping through the end of the year.

(Of course, the listed prices are "all relative" to the market environment and how much the seller wants to list for).

If anyone thinks that price drops are going to be reflected this Spring by "new-to-the-market" sellers, you are likely going to be very, very dissapointed - - initially.

List prices that no one actually puts an offer on is what I think you mean.....You can say you want $450k but you are gonna get $340k