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Me too, i have lived thru wars, hyper-inflation, more then 1 stock market crash, 2 real estate crashes, and all the sky is falling scenerios i care to count.
my investments all did well over time and we are retiring too next year.....
life goes on
Next year, we'll have a big party for you at the ANT hill!
Still many people are delusional about their home price. I see it all the time and every time have a good laugh about it. So many have been listed over a year in the local paper.
Just shows how uneducated Realtors are. How many times over the past two years have you heard them say, "Nows the time to buy, interest rates are heading up next month, the bottom is here, etc, etc....?
"Two years"...is what the govt. is now saying interest rates will stay low. How low? Who would imagine 2 1/2% interest?
Housing will continue to slide for the same time period because the govt. will fail miserably in their attempt to keep prices artificially inflated?
Owning a house is like holding a hot potatoe, but it will take a revamp of the Realtors unjustified 6% comission before anything happens. They will start to eat each other in the near future by rapidly slashing their fees in an effort to feed their families. To bad they're not unionized.
"interest rates are heading up next month"
Wow! That's bold glad that kind of speak doesn't cross my ears - not even the bankers in my neck of the woods make that assumption.
"Owning a house is like holding a hot potatoe, but it will take a revamp of the Realtors unjustified 6% comission before anything happens. They will start to eat each other in the near future by rapidly slashing their fees in an effort to feed their families."
People can sell their own homes, or use a "fee for service agent" and even purchase a how to FSBO guide. No one is stopping them and those things are available. I personally won't sell my self short - and fortunately the sellers in my area generally feel the same way as the sales data shows and the closing of a "fee for service office" reflects as well.
Me too, i have lived thru wars, hyper-inflation, more then 1 stock market crash, 2 real estate crashes, and all the sky is falling scenerios i care to count.
my investments all did well over time, and we are retiring too next year.....
life goes on
Where and when have you lived through hyperinflation?
I don't look back - something might be gaining on me (Satchel Paige)
I have a pair of rose colored glasses that are good for lots of things.
I first worked and paid taxes in 1964. I married 10 years later and had 2 sons. We always lived a very modest lifestyle. As incomes increased and expenses decreased, we saved for retirement. We never, ever acquired credit card debt. The only debt we had was college, car, and home loans. For the past 12 years, the only debt has been mortgage. If we can't pay for it up front, we don't need it.
We retired into the same modest lifestyle in which we have lived our entire life together. Our retirement income, adjusted for inflation, will keep us at or slightly above that income as long as we both shall live.
We designed and had our custom home built. We researched where we want to live - and continue to research. Will will buy with intent to remain.
We lived through price controls (Nixon), stagflation (Carter), deficits (Reagan), Y2K (Clinton), and so on. Life is still good.
We are the ANTS. Only grasshoppers truly suffer when the weather gets bad. Our house is built on rock; winds and rains won't wash it away. Our faith puts on the glasses and everything looks rosy enough.
We are the ants.
Thats cool my man... a good attitude cant hurt ya I guess.
"interest rates are heading up next month"
Wow! That's bold glad that kind of speak doesn't cross my ears - not even the bankers in my neck of the woods make that assumption.
"Owning a house is like holding a hot potatoe, but it will take a revamp of the Realtors unjustified 6% comission before anything happens. They will start to eat each other in the near future by rapidly slashing their fees in an effort to feed their families."
People can sell their own homes, or use a "fee for service agent" and even purchase a how to FSBO guide. No one is stopping them and those things are available. I personally won't sell my self short - and fortunately the sellers in my area generally feel the same way as the sales data shows and the closing of a "fee for service office" reflects as well.
I sincerely do not believe most people will argue with the idea that realtors do provide a valuable service. Selling or buying a home takes some doing. I think the issue people have is the price they pay for those services and if its really worth it, when compared to other professions.
I understand the commission is split and you have many costs associated with marketing and the agency you work for takes their cut and you pay taxes. We also understand the notion of, getting what you pay for. We all get that part. But for many, they compare $15,000-$25,000 they will part with to sell their homes, to other services they might get from such a cost. They then wonder if they really are getting, or need to pay that much?
I understand that many realtors don't make a ton of money in the business. Those that do make a lot are full time realtors. But so is your local plumber, carpenter, handyman, etc; and most feel these skills require a longer incubation and skill development period before the pay comes flowing. These guys will spend a few weeks in your home with a small crew rebuilding and remodeling your entire home for that price range. How long, specifically time wise, does a realtor really spend with your home?
The average person does not view being a realtor on par with being a doctor or lawyer, yet many make as much or more then these professions. They go to school for a few months or weeks to pass an exam and walla, the playing field is right before them to make as much as those who went to school for a decade. Is this wrong? No, but it is what it is and some people have issues with it.
I sincerely do not believe most people will argue with the idea that realtors do provide a valuable service. Selling or buying a home takes some doing. I think the issue people have is the price they pay for those services and if its really worth it, when compared to other professions.
I understand the commission is split and you have many costs associated with marketing and the agency you work for takes their cut and you pay taxes. We also understand the notion of, getting what you pay for. We all get that part. But for many, they compare $15,000-$25,000 they will part with to sell their homes, to other services they might get from such a cost. They then wonder if they really are getting, or need to pay that much?
I understand that many realtors don't make a ton of money in the business. Those that do make a lot are full time realtors. But so is your local plumber, carpenter, handyman, etc; and most feel these skills require a longer incubation and skill development period before the pay comes flowing. These guys will spend a few weeks in your home with a small crew rebuilding and remodeling your entire home for that price range. How long, specifically time wise, does a realtor really spend with your home?
The average person does not view being a realtor on par with being a doctor or lawyer, yet many make as much or more then these professions. They go to school for a few months or weeks to pass an exam and walla, the playing field is right before them to make as much as those who went to school for a decade. Is this wrong? No, but it is what it is and some people have issues with it.
Yeah, that's pretty much it. BUT (there are big BUTs everywhere )...
Most people don't realize (I didn't until I was educated here) - most Realtors belong to an agency like Keller Wiliams or REMAX or whatever. Those companies get the 3% and the divvy some out to the agent. Those big companies have nationwide overhead for TV ads, magazines, newspapers, etc. The local branches have other overhead expenses including support staff. The agents don't get all 3%.
Then add in the paperwork and liabilities (damn the lawyers, full speed ahead ) and you see it is expenses to sell and buy homes. If layers and lobbyists hadn't made such a mess of the laws, it would be simpler. But now you need a new title search and title insurance even if you just went through that at a refi a few months ago. You have title companies that charge outrageous fees to "search" for your title and report on it. Agents have to deal with them.
Appraisers - what a horrible job - no skill whatsoever and they name any number that works - what the seller wants, what the bank wants, whatever works. The proof that they are totally unskilled labor is in the fact that no two appraisals are ever the same. Agents have to work with them.
Agents SHOULD be teaching you about how to display your home to sell it. They SHOULD be getting advertising out there - at their expense whether you sell or not.
Yes, some Realtors get rich using ponzi schemes or other dubious methods. Other get rich through hard work - and who can fault that? And many do not get rich and in fact suffer badly in times like these.
Where and when have you lived through hyperinflation?
Certainly not in the United States.
boy you must be a youngin..... in the late 1970's thru early 1980's we broke 15% inflation and that was by the gov't numbers. an 18% prime rate and mortgages were over 20%, interest rates on bonds were 20% plus.... that was hyper inflation for anyone of us that lived thru it.
while 15-20% real inflation rate may not qualify as a text book definition it was as close as you ever want to get.... business week magazine declared equities dead forever as an asset class.... their cover was complete with a picture of a tombstone... needless to ssay the longest running bull market in history started the day after that magazine came out.
1987 saw the biggest drop in equities in 1 day ever.... imagine watching 25% of your investments evaporate in one trading day... talk about the sky is falling. oooh man what a day.... the dow had hit 2700 in august and by the time the smoke cleared 2 months later the dow stood at 1735 if i remember..... the talking heads had us dropping right thru to the 1300's.. it was a given....
needless to say we never looked back from that day.
Last edited by mathjak107; 11-19-2009 at 03:50 PM..
I don't look back - something might be gaining on me (Satchel Paige)
I have a pair of rose colored glasses that are good for lots of things.
I first worked and paid taxes in 1964. I married 10 years later and had 2 sons. We always lived a very modest lifestyle. As incomes increased and expenses decreased, we saved for retirement. We never, ever acquired credit card debt. The only debt we had was college, car, and home loans. For the past 12 years, the only debt has been mortgage. If we can't pay for it up front, we don't need it.
We retired into the same modest lifestyle in which we have lived our entire life together. Our retirement income, adjusted for inflation, will keep us at or slightly above that income as long as we both shall live.
We designed and had our custom home built. We researched where we want to live - and continue to research. Will will buy with intent to remain.
We lived through price controls (Nixon), stagflation (Carter), deficits (Reagan), Y2K (Clinton), and so on. Life is still good.
We are the ANTS. Only grasshoppers truly suffer when the weather gets bad. Our house is built on rock; winds and rains won't wash it away. Our faith puts on the glasses and everything looks rosy enough.
We are the ants.
Out of everything I read on this forum this is by far the most valuaable piece of wisdom I have come across! Something I will aspire to! To be an ant!
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well, almost.
)...
) and you see it is expenses to sell and buy homes. If layers and lobbyists hadn't made such a mess of the laws, it would be simpler. But now you need a new title search and title insurance even if you just went through that at a refi a few months ago. You have title companies that charge outrageous fees to "search" for your title and report on it. Agents have to deal with them.
