Housing Bubble? Your thoughts, predictions (apartment, mortgage, loan)

[mainebrokerman]

Originally Posted by dramamama6685

I couldn't imagine that kind of waiting game...in roughly 14 years when we go to sell, if I have to play too long of a waiting game, I may go nuts.

drama, it can be very frustrating, i know firsthand, how folks personalize thier home, and it gets listed,,,with little or no showings, or many showings with no offers.
sometimes the best planning for selling a house is BEFORE you list it,,, like elcarim, deep clean, everything, have others walk thru , be critical of what may not show well to the public,,,,shine the house up for the best possible showing

i'll share some advice you probly wont hear from any other broker,,,before you list,
say, you know you want to sell...and will list within one year, call as many brokerage companies as you can around you , have a "listing interview" with the broker of your choice,(at your house, not thier office) have them go thru the house, critic it for showing ...and give you a selling price range, of how the market is now, and ask how to shine the property up for highest price,,
say you did this, with ten different brokers from different companies...(and brokers are use to listing interviews, thats thier job)
now you get for free, ten different perspectives, of the broker professionals in your area, each will give thier critic of your house to show well, (and even advise on the best contractors in the area if needed) and give you the status of comparables on the market now, and selling price range,,
but here's the kicker, there's a pretty good chance, that if you meet with ten different brokers, one of them, may already have a buyer ,,,just waiting for a house like yours to go on the market, and he/she will ask for a showing,,,,even tho the house isnt listed,,,
most brokerage companies, like to sell/buy thier listings within thier own company, and many brokerage companies, have lists, amongst the brokers of not only thier own listings, but ,,of buyers "looking"
so not only are you interviewing ten different brokers,,,you may be tapping into ten different "buyers wanted" lists...of the brokerage company..

nothing can guarantee that a house will sell, but you can take measures to hopefully, increase your chances.

[dramamama6685]

Originally Posted by mainebrokerman

drama, it can be very frustrating, i know firsthand, how folks personalize thier home, and it gets listed,,,with little or no showings, or many showings with no offers.
sometimes the best planning for selling a house is BEFORE you list it,,, like elcarim, deep clean, everything, have others walk thru , be critical of what may not show well to the public,,,,shine the house up for the best possible showing

i'll share some advice you probly wont hear from any other broker,,,before you list,
say, you know you want to sell...and will list within one year, call as many brokerage companies as you can around you , have a "listing interview" with the broker of your choice,(at your house, not thier office) have them go thru the house, critic it for showing ...and give you a selling price range, of how the market is now, and ask how to shine the property up for highest price,,
say you did this, with ten different brokers from different companies...(and brokers are use to listing interviews, thats thier job)
now you get for free, ten different perspectives, of the broker professionals in your area, each will give thier critic of your house to show well, (and even advise on the best contractors in the area if needed) and give you the status of comparables on the market now, and selling price range,,
but here's the kicker, there's a pretty good chance, that if you meet with ten different brokers, one of them, may already have a buyer ,,,just waiting for a house like yours to go on the market, and he/she will ask for a showing,,,,even tho the house isnt listed,,,
most brokerage companies, like to sell/buy thier listings within thier own company, and many brokerage companies, have lists, amongst the brokers of not only thier own listings, but ,,of buyers "looking"
so not only are you interviewing ten different brokers,,,you may be tapping into ten different "buyers wanted" lists...of the brokerage company..

nothing can guarantee that a house will sell, but you can take measures to hopefully, increase your chances.

Thanks for the advice, but I'm not sure how well it will work for us. We will buy in Maine before we sell here.. so we can move all our sh#@ out of our tiny little rooms and then come back and fiux everything up. We'll see though. We do have a ways to go yet!

[RMFDGUY]

i hear ya on not moving property!! nothing is selling because the banks are making it impossible for your average joe to get a loan.. now they want 20% down, lengthy job history,money in the bank to cover 6 months of living expenses and your first born child!! 7 months ago i had a lender that was MAKING THINGS UP, like false stated incomes, "ghost jobs" and whadda know, i also had a daycare biz spring up overnight in order to get the loan!! of course i took their money!!!!!!!these banks MADE this mess and now WE get to pay for it!......i've gotten to the point of using 'rent to own' to try to attract buyers. i advertise all over, including isoldmyhouse.com and craigslist. i really dont think there are any serious buyers on craigslist. they all ask one or two questions and then poof! they're gone! oh well. hang on to your prices people, the banks will correct their foolish ways soon enough. their investors will start looking elsewhere and banks will close. understand that banks HAVE to write loans! its how they make money!! look at countrywide this week! they are rewriting loans for customers that are about to go under! that is very telling... we're gonna be ok come spring! now, about those gas prices......

[Zymer]

Originally Posted by RMFDGUY

7 months ago i had a lender that was MAKING THINGS UP, like false stated incomes, "ghost jobs" and whadda know, i also had a daycare biz spring up overnight in order to get the loan!! of course i took their money!!!!!!!

You knew the information was false but you signed your name to it anyway and took the money? There are some silly legal words that come to mind about that sort of thing, like criminal, fraud, false pretenses, etc.

And then you admit to it on a publicly accessible message board?

Originally Posted by RMFDGUY

these banks MADE this mess and now WE get to pay for it!

I see. The bank *made* you do it. You have no responsibility at all for signing your name to information that you *knew* was fraudulent. Sure.

News flash: people who knowingly make false representations in order to appear to qualify for a loan are just as guilty as the banks. They have the power to be honest and decline to sign their names to a fraudulent document.

Originally Posted by RMFDGUY

......i've gotten to the point of using 'rent to own' to try to attract buyers. i advertise all over, including isoldmyhouse.com and craigslist. i really dont think there are any serious buyers on craigslist. they all ask one or two questions and then poof! they're gone!

I don't think I'd buy, or rent, anything from you, either.

Originally Posted by RMFDGUY

hang on to your prices people... we're gonna be ok come spring!

Don't count on it, it's still getting worse. I don't see the housing market even *starting* to get better for another two or three years. I could be wrong, but I don't think so. But that's OK because I'm looking to buy right now. No, not yours.

[Northern Maine Land Man]

Wise words from Zymer. The question people need to ask is, where do you want to be when the stock market, bond market and job markets are all terrible at the same time? People are buying properties in Maine so they will have a place to go if their urban neighborhoods become unsafe for their families. When the pundits start mentioning things like "financial tsunami" it should make Joe Citizen take notice.

[Elcarim]

Elston, did you ever get any word from the showings you guys had? Hope you have luck soon!! If you do, send some good vibes my way!

[Northern Maine Land Man]

Today's financial tsunami link:

Nov 26, 2007 The Financial Tsunami Part 1: Deutsche Bank's painful lesson F. William Engdahl 321gold

[RMFDGUY]

geez zymer, relax.. i suppose if you had access to easy money to invest, you'd turn it down..... wake up bro, we all have to pay the grocery bill

[mainebrokerman]

Originally Posted by RMFDGUY

geez zymer, relax.. i suppose if you had access to easy money to invest, you'd turn it down..... wake up bro, we all have to pay the grocery bill

yes we do have to buy groceries..

but you cant have it both ways,,complain about the banking system, when you took an active part of why the banks tightened thier restrictions,,,

like the bumper sticker said on the back of the volvo said, "either you are part of the solution, or part of the problem"

rmf,,, maybe at times some of us do seem a bit uptight, but only to dispell false generalizations,,

[mollysmiles]

ayuh........