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Thread summary:

Real Estate: buyers agents, low interest rate, loan, realtor, sell house.

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Old 02-21-2009, 12:58 PM
 
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,133,511 times
Reputation: 651

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Quote:
Originally Posted by CoastieTX View Post
Likewise, your "entitled buyer" accusation towards me holds absolutely no weight either.

The fact you feel it is the buyer who has this sense of entitlement, and not the seller, who in this case is asking $50K more than the last sold comp, and a whopping $150K more than they bought home for seven years ago, says a lot more about you than I could ever say about you. Congratulations.

Have a nice day.
Maybe not, but you hardly even suggested a fair price to the home you linked to in your earlier post. My guess is if this "starter" home (as you call it) was even priced at $189k, I'm sure you'd still be b*tching the price is too high. Typical. Buyers today want something for nothing. Even for the homes that ARE priced appropriately.
I never said the home you linked was priced appropriately, not did I even suggest it. I said it was beautiful and I wished MY first starter home looked like that. Then I asked you what an appropriate price would be...

For you to even insinuate I thought it was a fair price says alot more about you than even you think. But that's okay. Continue lumping all the homes on the market in one category called "overpriced" and you might miss out on the good ones that are priced right You'll never be able to see the forest through the trees.

You have a good day, too!
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Old 02-21-2009, 01:16 PM
 
Location: Montgomery County, PA
2,771 posts, read 5,427,797 times
Reputation: 601
Quote:
Originally Posted by PotterGeek View Post
Maybe not, but you hardly even suggested a fair price to the home you linked to in your earlier post. My guess is if this "starter" home (as you call it) was even priced at $189k, I'm sure you'd still be b*tching the price is too high. Typical.
This is completely off base. CoastieTx posted that a number (post#22), and it was substantially above 189k. Criticism based on what you *think* someone thinks is a dangerous business, even more so if what you think is demonstrably false.

Quote:
I said it was beautiful and I wished MY first starter home looked like that.
The first words in your post were along the lines of "you call that a starter home ?" There was nothing there to suggest that you weren't defending the high offer price.

Last edited by elflord1973; 02-21-2009 at 01:17 PM.. Reason: typo
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Old 02-21-2009, 01:21 PM
 
Location: Central Texas
19,898 posts, read 36,500,136 times
Reputation: 21361
To clarify, the buyers of today that I'm speaking, not all of them, but those who feel that the sellers somehow "owe" them a lower price, are exhibiting the same sense of entitlement as the buyers of yesterday who felt that they were "owed" financing whether they qualified or not, are exhibiting the same sense of entitlement that led to the problems we're seeing right now.

As for the sellers of the past, well, apparently they were paid market price for their houses. If you are arguing, as a buyer, that market price today is lower than market price at the peak, I don't think anyone's going to argue that one with you. The thing is, it's market price. Those sellers who don't price their houses at market price are not going to sell. That's the consequences that they will have to live with, but it's their choice, and if you're not operating out of a sense of entitlement you won't get angry with them for that, you'll just buy a house that IS at market price (and in the price range that you can afford). Market price being the price that buyers will pay for something, in this case, houses - houses that are selling are what set the market price.

If you're not comfortable paying current market price, then, of course, you shouldn't buy a home, and no one will blame you for that. I, for one, will tip my hat to you for making that decision, because that exhibits just the opposite of a sense of entitlement that insists that seller's should price their houses according to what you want to pay rather than based on what the market as a whole is paying.
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Old 02-21-2009, 01:43 PM
 
Location: Salem, OR
13,757 posts, read 31,670,380 times
Reputation: 12136
Quote:
Originally Posted by middle-aged mom View Post
Would one expect NAR to say, " it sucks to be you, right now" ?

They are a trade association for major franchise brokerage firms , charged with the task of promoting home ownership.

Ha! That would be a great ad campaign...

You know what...I'm not sure what they should be saying at this point.

I'm just not sure that there is pent up demand in my area, so Lawrence Yun and I disagree on that point.
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Old 02-21-2009, 01:49 PM
 
Location: Montgomery County, PA
2,771 posts, read 5,427,797 times
Reputation: 601
Quote:
Originally Posted by TexasHorseLady View Post
To clarify, the buyers of today that I'm speaking, not all of them, but those who feel that the sellers somehow "owe" them a lower price, are exhibiting the same sense of entitlement as the buyers of yesterday who felt that they were "owed" financing whether they qualified or not, are exhibiting the same sense of entitlement that led to the problems we're seeing right now.
I am skeptical that many of these people actually exist. There was a "sellers, lower your prices" already, but the complaint there was primarily that asking prices are higher than market price.

One of the reasons that I am skeptical, is that while I see a lot of interested parties (the real estate, building, and banking industries, and delinquent borrowers) clamoring for interventions to prop up house prices, I do not see anyone calling for the government to intervene to lower prices.

But it's not really fair to blame this on sellers -- most of the howling is coming from delinquent borrowers.

Quote:
but it's their choice, and if you're not operating out of a sense of entitlement you won't get angry with them for that, you'll just buy a house that IS at market price (and in the price range that you can afford).
But it is frustrating trying to operate in a market like this. Both buyers and sellers are frustrated because they are operating under adverse market conditions -- low transaction volumes, high inventories, resulting in large gaps between "bid" and "ask" prices.

If you want to identify where the sense of entitlement is, look at who is picking the taxpayer's pocket right now. It is neither buyers nor is it non-distressed sellers. The bailouts are going to: banks, big auto, and delinquent borrowers -- basically, all the parties who binged on debt are asking us to pick up the tab for them.
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Old 02-21-2009, 03:48 PM
 
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,133,511 times
Reputation: 651
Quote:
Originally Posted by elflord1973 View Post
This is completely off base. CoastieTx posted that a number (post#22), and it was substantially above 189k. Criticism based on what you *think* someone thinks is a dangerous business, even more so if what you think is demonstrably false.

The first words in your post were along the lines of "you call that a starter home ?" There was nothing there to suggest that you weren't defending the high offer price.
Okay, now let's use *your* own advice:

Quote:
The first words in your post were along the lines of "you call that a starter home ?" There was nothing there to suggest that you weren't defending the high offer price
Quote:
Criticism based on what you *think* someone thinks is a dangerous business, even more so if what you think is demonstrably false.
If that ain't the pot calling the kettle black, I don't know what is...you *presumed* I was defending the asking price, therefore, you criticized.

I still think the house as earlier depicted is not a typical starter home. A starter home does not have the full bells and whistles of that home. Yes, it was small, but that's the only thing "starter" about it.

I think you guys need to move to GA where you can get a house 3x that size for that price. You'd be pleasantly surprised to find great starter homes in great neighborhoods for less than $100k. For $200k you can get a very nice mid sized ranch. For $300k you can get a small mansion in Hamilton Mill.

Atlanta Georgia Real Estate: Metro Brokers/GMAC - Property Details (http://metrobrokers.com/listings/results.asp?search_form=byarea&subdivision=hamilto n+mill&price_low=0&days=&page=11&page_size=10&dmln um=2580565 - broken link)
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Old 02-21-2009, 03:50 PM
 
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,133,511 times
Reputation: 651
Quote:
If you want to identify where the sense of entitlement is, look at who is picking the taxpayer's pocket right now. It is neither buyers nor is it non-distressed sellers. The bailouts are going to: banks, big auto, and delinquent borrowers -- basically, all the parties who binged on debt are asking us to pick up the tab for them.
I can agree with your frustration as I feel the same way. I wouldn't necessarily call it entitlement, but throwing good money at bad money. Or good money at bad debt. I agree that we shouldn't be bailing out these companies.
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Old 02-21-2009, 04:24 PM
 
Location: Bellingham, WA
266 posts, read 768,605 times
Reputation: 420
Quote:
Originally Posted by PotterGeek View Post
Maybe not, but you hardly even suggested a fair price to the home you linked to in your earlier post. My guess is if this "starter" home (as you call it) was even priced at $189k, I'm sure you'd still be b*tching the price is too high. Typical.


I don't even know why I'm responding to this nonsense, as I clearly wrote that I thought a fair price would be around $270K yet I'd still be worried about the very real possibility of being upside down in two years. If you want to have a mature discussion, at least get your facts straight.

If you care to know, I responded to your posts specifically because you, and a few others here, exhibit a very condescending, self-righteous attitude towards buyers, especially first time buyers.

For the record, I don't deny there's some real pinhead buyers out there with ridiculous expectations. But the record has also clearly shown that when the ball was in the sellers' court, they had ridiculous expectations, too, but I never hear a peep about this from people like you or, *gasp*, (un)FairMarketValue.

Double standard? Abso-flippin'-lutely.

Quote:
Originally Posted by PotterGeek View Post
LOL, I sure wish my starter home looked like that!!!
I'm sorry, but this just shows how ignorant you are of how far out of line the housing market has become. So, in your world, this 1390 square foot spec home in a high-density tract subdivision is overkill for a family's needs? Really? OK, let's suppose something smaller can be found, though I know of no builders selling such a house, it's now going to cost $300K. $300K?? For a starter home?? Are you getting the picture yet?? You can't buy a $96K starter home like you did. You can't even buy a studio condo for that.

If you care to know, I'm not priced out of the market. I make almost six figures, have several hundred thousand saved, am completely debt free and would really like to buy a home. In other words, I've got my act together and have done everything right - probably more so than today's sellers whose biggest saving grace is they happened to buy in 2002 instead of now. And that's why I don't take kindly to a lot of these people and their condescending, self-righteous tone towards today's buyers because if the situation was reversed, they probably couldn't or wouldn't buy 1390 square foot spec homes for $339K either.
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Old 02-21-2009, 04:32 PM
 
Location: Bellingham, WA
266 posts, read 768,605 times
Reputation: 420
Quote:
Originally Posted by PotterGeek View Post
I still think the house as earlier depicted is not a typical starter home. A starter home does not have the full bells and whistles of that home. Yes, it was small, but that's the only thing "starter" about it.
Back up your words and list, item by item, all the bells and whistles you speak of...

Here's a more "Plain Jane" spec home if you want a different example. A 1374 square foot spec home surrounded by section 8 apartment complexes in an undesirable area of town. New, it cost $196K in 2003. Today, they're asking $300K, and I don't remember the original asking price, but it's been sitting, and sitting, and...
4663 Bedford, Bellingham, WA 98226, Bellingham Area Home, Real Estate For Sale $299,900 MLS# 29012135 (http://windermere.com/index.cfm?fuseaction=Listing.ListingDetail&Listing ID=35054371 - broken link)

You can't get a house more "starter" or smaller than that if you want something that's actually livable. Any cheaper or smaller, you're looking at condos and townhomes.

I guess if, for $300K, I'm not happy with that, I have champaign tastes on a beer budget and really am guilty of feeling entitled to something for nothing...

Last edited by CoastieTX; 02-21-2009 at 05:14 PM.. Reason: Addition of text
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Old 02-21-2009, 11:51 PM
 
Location: Montgomery County, PA
2,771 posts, read 5,427,797 times
Reputation: 601
Quote:
Originally Posted by PotterGeek View Post
Okay, now let's use *your* own advice:
If that ain't the pot calling the kettle black, I don't know what is...you *presumed* I was defending the asking price, therefore, you criticized.
At what point did I say that you were "defending the asking price" ? I posted that it wasn't clear that you weren't doing that.

I stand by that claim -- CoastieTx claimed that the place was overpriced, and your response was to criticize him/her for insisting on unreasonably low prices, and the only criticism s/he made at that point was that s/he didn't like the asking price. So to suggest that Coastie is wrong in suggesting that the asking price is too high, while talking up the value of the place (e.g. "bells and whistles), looks very much like a defense of the asking price, though I understand that this may not have been your intention.

Quote:
I think you guys need to move to GA where you can get a house 3x that size for that price.
I've seriously considered moving somewhere else because housing is so expensive here.
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