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[/quote]Um, no, I don't. I am a realist. That doesn't mean I have to like it or agree with it. I KNOW that the market dictates. THAT is my whole point. I am sick of the whole "comp" thing. What don't you get? If more sellers listed what their homes are actually worth (not over price, just fair price) then that is what the buyers would have to choose from. And they would still be getting a decent deal. There is a big IF in there. Won't happen in my time frame, but it seems as if it needs to happen in order for the market to level out.
Today, what I would LIKE it to be worth is fantasy and I am no where near thinking I would ask for that. As I said, I would take a loss even at fair market value, but I could stomach that.
I don't agree with "whatever you can sell it for, that's what it's worth". Not just with my home, with many that I see listed. It is a shame. It is not what they are worth, it is what the market tells you that is what it is worth. Sellers need to change that, IMO. Just an observation. A thought.[/quote]
No, you are not a realist. You are a very stubborn person living in a fantasy land. You keep talking over and over again about "fair market value" and "what homes are actually worth" as if there were some system independent of the market to determine those things. There is simply no such thing as "fair market value" and "what homes are actually worth" except as determined by supply and demand (the market). The "value" and "worth" that you keep talking about are mental constructs of your own, but you fail to recognize them as such. In other words, as you use those terms they are meaningless and they are divorced from reality. I do understand your frustration, but the reality with which we must deal in life is sometimes very unpleasant. You are not dealing with it very well.
...Have you ever watched the program selling New York? The potential fees there are hundreds of thousands of dollars....
You seem to have a thing for this show. Perhaps you should stop watching ? You do realize that the NY market where these agents are working is not at all representative of most real estate markets? As noted before the average agent is lucky to clear $35K in a year.
Not to be rude, but this may be the most ridiculous thing I have read in a long time.
You serious? Then you obviously haven't been on the Religion or Politics boards! Not that big of a deal, really.
Um, no, I don't. I am a realist. That doesn't mean I have to like it or agree with it. I KNOW that the market dictates. THAT is my whole point. I am sick of the whole "comp" thing. What don't you get? If more sellers listed what their homes are actually worth (not over price, just fair price) then that is what the buyers would have to choose from. And they would still be getting a decent deal. There is a big IF in there. Won't happen in my time frame, but it seems as if it needs to happen in order for the market to level out.
Today, what I would LIKE it to be worth is fantasy and I am no where near thinking I would ask for that. As I said, I would take a loss even at fair market value, but I could stomach that.
I don't agree with "whatever you can sell it for, that's what it's worth". Not just with my home, with many that I see listed. It is a shame. It is not what they are worth, it is what the market tells you that is what it is worth. Sellers need to change that, IMO. Just an observation. A thought.[/quote]
No, you are not a realist. You are a very stubborn person living in a fantasy land. You keep talking over and over again about "fair market value" and "what homes are actually worth" as if there were some system independent of the market to determine those things. There is simply no such thing as "fair market value" and "what homes are actually worth" except as determined by supply and demand (the market). The "value" and "worth" that you keep talking about are mental constructs of your own, but you fail to recognize them as such. In other words, as you use those terms they are meaningless and they are divorced from reality. I do understand your frustration, but the reality with which we must deal in life is sometimes very unpleasant. You are not dealing with it very well.[/quote]
Yikes! So serious. Ease up. I am not going on a drinking bender or anything about all this. I just think it is a sad state of affairs. Yep. So was my BIL dying from pancreatic cancer at 27. I will deal with it. Egads. I just mention that I think the houses here are worth more than they are being listed for (not based on previous purchase price) and you flip out. That is my opinion and I stated that. You do not have to agree and I also stated that the market will do what it does.
You do not know me, so please do not assume you do. I am handling it all just fine, thank you. And, yes, I am a realist. I realize that I have to do what I have to do and I will, regardless of my "fantasy" that the houses have a "worth" or a "value".
I think those who are so adamant to dispel my thoughts here...and I STATED, wishful thinking on my part, are investors or bankers or someone who is profiting from the current debacle the nation is in. Good for you.
We've had a house we've tried to sell off and on for the past 5 years. As much as I would love it to be worth more, the fact is, it's worth $35-40k less than we owe. We're putting it back on the market at a price that should (hopefully) bring a quick sale with the hope that we can work out a deal with the bank to pay the deficiency over a course of years (we've got another house we're about to do the same thing with, same bank, too.)
My point, I guess, is that you are just wrong about the houses being worth more -- they just aren't, as sad as that it. I know it's hard to take, I don't like it one bit, but it's reality. Those comps determine the worth, plain and simple.
And as you can see, I am not an investor or anything, but yet one of the countless people out there trying to sell their property in a down market.
Tell me again how you come up with this magical amount your house is actually worth?
Why, are you interested in buying it?
I am not talking only about my home. Many homes around here are going for below 100K, far below and I just think that is not right. Once again...MY OPINION. I realize that my opinion does NOT matter. I got it! Geesh.
So, basically, the banks hung these people out to dry when they purchased them and continued to do until it just burst.
People! Really! I just made a comment that sellers should start listing a BIT higher. That's all. Relax. It is still a buyers market. Ain't going anywhere soon.
We've had a house we've tried to sell off and on for the past 5 years. As much as I would love it to be worth more, the fact is, it's worth $35-40k less than we owe. We're putting it back on the market at a price that should (hopefully) bring a quick sale with the hope that we can work out a deal with the bank to pay the deficiency over a course of years (we've got another house we're about to do the same thing with, same bank, too.)
My point, I guess, is that you are just wrong about the houses being worth more -- they just aren't, as sad as that it. I know it's hard to take, I don't like it one bit, but it's reality. Those comps determine the worth, plain and simple.
And as you can see, I am not an investor or anything, but yet one of the countless people out there trying to sell their property in a down market.
Yes! You are right! I agree! Now, imagine if 25 of the homes in your area raised their listing price by just $25 or $30K...you would be golden, right? And I know it depends on the demand in your area, but all things considered...just sayin'. Seems simple to me, even though it won't happen.
I am not talking only about my home. Many homes around here are going for below 100K, far below and I just think that is not right. Once again...MY OPINION. I realize that my opinion does NOT matter. I got it! Geesh.
So, basically, the banks hung these people out to dry when they purchased them and continued to do until it just burst.
People! Really! I just made a comment that sellers should start listing a BIT higher. That's all. Relax. It is still a buyers market. Ain't going anywhere soon.
You didn't answer my question. How should one determine the true value of their house? Clearly you don't think it should have anything to do with comps or bank valuations. So how?
Of course people will always use comps. They do with everything from appliances to electronics. I get that. But, unfortunately, greed played a major role in skewing those comps, years ago and set the people who were not a part of that game into a dark hole. So, it would seem that the only way out, with your sanity and credit intact, is to hope that the sellers can and will start demanding a BIT more for their homes. I do not see that happening here, anytime soon, unfortunately. Other states may already be seeing it, but not here.
I feel sorry for those who were pawns in that game. I was not in that game, but as a result of it, I am affected as are millions. I will be forced to do what I don't want to, along with others, but I will be somewhat better off than a lot of those people. And I will deal with it. Good or bad.
Hmmm, maybe after I unload this house, I will look into becoming an investor!
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Let's define "value" and "worth".
? You do realize that the NY market where these agents are working is not at all representative of most real estate markets? As noted before the average agent is lucky to clear $35K in a year.
Ease up. I am not going on a drinking bender or anything about all this. I just think it is a sad state of affairs. Yep. So was my BIL dying from pancreatic cancer at 27. I will deal with it. Egads. I just mention that I think the houses here are worth more than they are being listed for (not based on previous purchase price) and you flip out. That is my opinion and I stated that. You do not have to agree and I also stated that the market will do what it does. 
