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Realtors really have zero incentive to say now is not a good time to buy. Interestingly very few Realtors will tell you this, they all seem to be in good "local markets". It isn't so much that the Realtors are lying, but its a funny feature of human psychology that people will convince themselves of things that are in their best interest.
As long as everyone waits, prices will continue to fall. You heard that from a Realtor. The economy will sputter. Contractors, construction workers, retail employees, title agents, attorneys, inspectors, bankers, your neighbors will be negatively effected.
Since I currently make my living as a Realtor I probably am biased towards a more positive outlook. I'd like to see things start to begin to improve. Shoot me for wanting the people that I'm working with to sell their property. The people that I work with aren't evil greedy investors but people who happened to have a spouse die in a down real estate market, or a parent happen to choose this time to become ill leaving the children with a house that they must maintain.
But if you are looking to buy now, there are homes that are priced at or below the pre-boom levels. You can find property at very good prices.
I'm sorry that some people don't like Realtors, but many of us are humans too.
Realtors really have zero incentive to say now is not a good time to buy. Interestingly very few Realtors will tell you this, they all seem to be in good "local markets". It isn't so much that the Realtors are lying, but its a funny feature of human psychology that people will convince themselves of things that are in their best interest.
I'm sorry but, realtors are liars. I'm not trying to insult anyone in particular but ... it's just the truth.
Maybe it's just a sad reality of the job but ... I haven't had one tell me the truth in 20+ years of dealing with them.
The economy will sputter. Contractors, construction workers, retail employees, title agents, attorneys, inspectors, bankers, your neighbors will be negatively effected.
Yep, thats what happens when you grow your economy with artificial wealth, it all comes down sooner or later. When the dust settles most will be better off.
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I'd like to see things start to begin to improve.
Improve for who exactly? The declining market is an improvement, housing is becoming more affordable. Its not an improvement for people that were counting on the profits from the sell of their house for retirement etc.
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The people that I work with aren't evil greedy investors but people who happened to have a spouse die in a down real estate market, or a parent happen to choose this time to become ill leaving the children with a house that they must maintain.
So you're saying you only work with people that have had tragic life events? Some how I doubt that. Also, its not that hard to sell a house in this market. You just have to price it attractively, the problem is people want to list their house for peak prices. Are we suppose to feel sorry for them because they can't sell their house for a ridiculous price? Also, this just demonstrates that there is risk in buying real estate. People should think seriously how they will deal with these risks before they purchase a home. But I'm sure that isn't something Realtors are going to talk to their clients about.
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I'm sorry but, realtors are liars. I'm not trying to insult anyone in particular but ... it's just the truth.
A lot of them lie to some degree, but a lot seem to really think the things they say about the market. But really, its only because the millions in marketing dollars from the NAR that they have better reputations than say cars salesman.
Since I currently make my living as a Realtor I probably am biased towards a more positive outlook. I'd like to see things start to begin to improve. Shoot me for wanting the people that I'm working with to sell their property.
Anyone in sales has to be a natural optimist, it seems to me. Nothing wrong in that. But the tsunami we're in now is more than just a typical business cycle recession, and that needs to be frankly acknowledged. Blaming buyers, sellers, and realtors is not logical. This is bigger than any group. It's an historic shift that we'll all be telling our grandchildren about. When the storm is over, the business of real estate, at least in America, will be utterly changed. I hope for the better. But there's no denying that tens of thousands of family wage jobs will be gone.
But there's no denying that tens of thousands of family wage jobs will be gone.
Actually, the NAR lists over a million dues-paying members. When you factor in construction, city planning, architecture, and other real estate related fields, you're going to see millions looking for a new career (if they haven't started looking already).
Actually, the NAR lists over a million dues-paying members.
Many of them aren't full time Realtors and work in real estate for extra money. So using this figure to get a sense of how many jobs will be lost isn't going to work well.
IMO the part time realtors (and I do understand that full time in this market , FL, isn't possible for most of the realtors), are making the mess bigger...not because they have no knowledge but buyers and sellers get upset when you hardly will be called back and get these automatic replies on emails, and voice mail messages.....
For a client who doesn't know if the realtor has another job, and shouldn't even care (the client wants to buy or sell and isn't thinking what else the realtor is doing all day, just as it is the other way around), it almost looks like the realtor is on vacation or has reitred from the job when you get no answers.......
Many of them aren't full time Realtors and work in real estate for extra money. So using this figure to get a sense of how many jobs will be lost isn't going to work well.
I realize that, but even if you were to take real estate agents out of the picture, you're still looking at potentially millions of lost jobs. Especially if you consider service sector jobs, which are also suffering during this downturn.
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