U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 02-19-2009, 06:04 PM
 
Location: Hernando County, FL
8,489 posts, read 17,129,481 times
Reputation: 5397

Advertisements

Quote:
Originally Posted by VivaLaEvie View Post
Says who!?!?! In Fantasyland Economics?

When people have to sell- because of lost job, move, divorce, death, whatever - that is real life and real life is what causes prices to drop. Not "I can sit here for years with my house on the market and hold out for my price." Under your scenario, prices would never drop. This is a make-believe scenario.

Please, no offense, but is there someone at the NAR telling realtors this, or where does this come from? I have heard realtors say this before....
Most times if someone has to sell because of the reasons you mentioned and prices it well below current market it is then considered a distress sale and not figured into the comps.

These are distinctions that are made by county property appraisers, real estate agents and public appraisers alike.
Reply With Quote Quick reply to this message

 
Old 02-19-2009, 06:17 PM
 
Location: GA
2,721 posts, read 9,197,907 times
Reputation: 1063
Renovation Brings Big Bucks (Baristanet Real Estate) (http://www.baristanet.com/realestate/2009/02/renovation_brings_big_bucks.php - broken link)

oh, please, raise your price and sell it already!
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 06:23 PM
 
Location: Philly
165 posts, read 746,144 times
Reputation: 83
Quote:
Originally Posted by Mike Peterson View Post
Most times if someone has to sell because of the reasons you mentioned and prices it well below current market it is then considered a distress sale and not figured into the comps.

These are distinctions that are made by county property appraisers, real estate agents and public appraisers alike.
Yes, but I didn't say anything about pricing well below the current market. And, I don't consider these situations to be particularly distressed. These are things that happen in life, these are reasons why people sell their houses. Particularly in a down market. The combined force of many such people in a community is what will put downward pressure on prices. Otherwise, people just sit on their houses forever and don't lower their prices.

So, I am not referring to a "fire sale, below market" price out, just the general market conditions that will cause a slide in housing prices.
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 06:26 PM
 
22,770 posts, read 24,595,810 times
Reputation: 14500
Quote:
Originally Posted by goodbyehollywood View Post
Whether or not a certain buyer can get a loan has little to do with the FMV of a home.
Whether or not buyers at-large can get loans has an effect on the FMV of all homes.

If you don't think loan availability and cost affects FMV, then what do you think drove prices up in the first place?
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 06:30 PM
 
1,592 posts, read 2,945,130 times
Reputation: 1149
Home buyers to be dinged with new fees

What will this do to housing prices?
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 06:33 PM
 
8,780 posts, read 15,956,516 times
Reputation: 5210
Quote:
Originally Posted by the painter View Post
Natas, Let me clear this one for you -Lower than ALL COMP, current, old and SOLD. So no I am leading not chasing, never have I been a follower in any aspect of my life. So now what do you suppose is the problem with the buyers here?
I think you're making an assumption that the potential buyer's are the problem. Perhaps, the problem is the "professional" that you've retained to market the property?
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 06:34 PM
 
3,320 posts, read 4,624,106 times
Reputation: 11125
Quote:
Originally Posted by Flat2MT View Post
But it's a two way street. Go back to the height of the bubble tell me how you would defend the out- of-sync prices sellers were getting for their homes.

What goes around comes around....and greed goes both ways.
So you're basically saying 2 wrongs make a right
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 06:44 PM
 
3,320 posts, read 4,624,106 times
Reputation: 11125
Quote:
Originally Posted by NatasNJ View Post
I think this is the first post I have liked of yours.
Agree with it all in regards to this thread. But this thread was made to complain about the jerks on the sellers side of it. So it was a place for buyers to come in and complain about jerk sellers. Can't they have their space to vent?
To be just as blunt, I haven't found your posts that I have read on RE to be anything but wishful thinking banter, about the way you think it should be...you may find out your expectations are so high you will never be able to meet them.

Has the OP even been back to this thread? They obviously started it to provoke sellers and then sit back and watch the sparks fly...as it was very patronizing in tone!
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 06:55 PM
 
3,320 posts, read 4,624,106 times
Reputation: 11125
Quote:
Originally Posted by fairmarketvalue View Post
I would LOVE to know why KC hasn't "chimed in" with all her data and links to support why all you "SELLERS" are delusional and how "unaffordable home prices are, in comparison to income". Gold dust, hammy, rothbear- you rock. I'll be curious to see if all your posts get butchered as mine have. I am not a seller but believe all that you say is true! Have a good day.
Well thank you Fairmarket...that was sweet
Maybe ya got "butchered" because they know you are not a seller and then feel justified in making you feel like you can't know what you're talking about...just guessing. Yes the frustration from reading some of this CRAP day after day has gotten to me with this post. OMG that statistical stuff just gets to be TOO much
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 07:02 PM
 
945 posts, read 1,713,746 times
Reputation: 361
Quote:
Originally Posted by the painter View Post
See this is where it gets one sided. If you can, go for it but if you are a seller forget it. So what for the buyer and who cares what happens to the seller, right? It is everyone for themselves I get it. It doesnt matter if it is right or wrong, it doesnt matter what the value is, it is what everyone gets for themselves, kinda the same mentality that has put us in this current situation isn't it? these people that wanted a house got the loan and now is walking away. Now the people that worked and lived correctly have to bend over to sell to some one that wants the best at the least price, yelling about historical prices and what is fair. Guess what I want a 1962 Mustang at the historical price too. Yea good luck there.
FANTASTIC post, FANTASTIC! And as some have been saying on this thread, no one want to do it the way our parents and even we (I'm in my mid 40's) did. They want the big fancy house now, and they want it for their "affordable price". As you pointed out in an earlier post, even when you price it agressively, below all other comps, buyers still come in with the mentality that every list price has a 20-30% lowball wiggle room! Rediculous! A true monster has been created and you read their posts and what a typical buyer has become unrealistically expecting where our nation's real estate is concerned and you read samples of it on this forum all the time. It's mind blowing!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top