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Old 02-19-2009, 11:30 AM
 
9 posts, read 50,139 times
Reputation: 56

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Otherwise buyers like me have to sit there and watch "price reduction" after "price reduction" alerts on the MLS. And then we get disgusted that you overpriced your home to begin with, and we write you off our list. Just lower the price and your home will sell.

I am amazed that people (journalists, Realtors, etc.) keep saying that homes are taking 6 months, a year, or more to sell. Well, the reason for this is because HOMES ARE STILL OVERPRICED! If they were priced correctly, they would NOT be sitting!!!

If you are selling and "can't afford to sell at the true market value" of your home (think 1998-2000 prices), then do a short sale, file for foreclosure, etc. Why drag out the inevitable and keep the economy in a nosedive by overpricing your house, having it languish on the market, only to have to go through a short sale/FC in a year or two, and keep adding fuel to the fire of the housing crisis?

The quicker people price their homes correctly, the quicker we will get out of this housing crash--and economic catastrophe!!!
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Old 02-19-2009, 11:44 AM
 
Location: Barrington
61,404 posts, read 42,090,359 times
Reputation: 19767
Looks like you are in Florida.

I have no idea if pricing at 1999-2000 levels is the right price for your area or not. It does however, sound like it's the right price, for you.
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Old 02-19-2009, 12:16 PM
 
5,273 posts, read 7,004,068 times
Reputation: 14923
Quote:
Originally Posted by keyweb View Post
Otherwise buyers like me have to sit there and watch "price reduction" after "price reduction" alerts on the MLS. And then we get disgusted that you overpriced your home to begin with, and we write you off our list. Just lower the price and your home will sell.

I am amazed that people (journalists, Realtors, etc.) keep saying that homes are taking 6 months, a year, or more to sell. Well, the reason for this is because HOMES ARE STILL OVERPRICED! If they were priced correctly, they would NOT be sitting!!!

If you are selling and "can't afford to sell at the true market value" of your home (think 1998-2000 prices), then do a short sale, file for foreclosure, etc. Why drag out the inevitable and keep the economy in a nosedive by overpricing your house, having it languish on the market, only to have to go through a short sale/FC in a year or two, and keep adding fuel to the fire of the housing crisis?

The quicker people price their homes correctly, the quicker we will get out of this housing crash--and economic catastrophe!!!
are YOU for REAL?
How old are you?
Why on Earth would I foreclose on my home when my CREDIT is good! What planet are you on?
Shall we lower a 400k house to 150k? did you ever think people may need a certain amount to pay off their mortgage? then adding in REALTOR costs which bumps it up ALOT!!
I seriously think you are doing this to get a rise out of sellers. LMAO!
All sellers aren't desperate like you may think and part of me thinks you think with what you are sitting on.
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Old 02-19-2009, 12:21 PM
 
3,320 posts, read 5,243,451 times
Reputation: 11125
Quote:
Originally Posted by njsocks View Post
are YOU for REAL?
How old are you?
Why on Earth would I foreclose on my home when my CREDIT is good! What planet are you on?
Shall we lower a 400k house to 150k? did you ever think people may need a certain amount to pay off their mortgage? then adding in REALTOR costs which bumps it up ALOT!!
I seriously think you are doing this to get a rise out of sellers. LMAO!
All sellers aren't desperate like you may think and part of me thinks you think with what you are sitting on.
You go NJ...the audacity!!!!! As though this person can speak for all sellers and their specific situations??!!!!!
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Old 02-19-2009, 12:23 PM
 
5,273 posts, read 7,004,068 times
Reputation: 14923
Quote:
Originally Posted by gold*dust1 View Post
You go NJ...the audacity!!!!! As though this person can speak for all sellers and their specific situations??!!!!!
Exactly Gold. Everyone should take notes from Einstein here lmao!
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Old 02-19-2009, 12:26 PM
 
3,320 posts, read 5,243,451 times
Reputation: 11125
Quote:
Originally Posted by njsocks View Post
Exactly Gold. Everyone should take notes from Einstein here lmao!
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Old 02-19-2009, 12:27 PM
 
1,340 posts, read 3,530,529 times
Reputation: 450
Quote:
Originally Posted by njsocks View Post
are YOU for REAL?
How old are you?
Why on Earth would I foreclose on my home when my CREDIT is good! What planet are you on?
Shall we lower a 400k house to 150k? did you ever think people may need a certain amount to pay off their mortgage? then adding in REALTOR costs which bumps it up ALOT!!
I seriously think you are doing this to get a rise out of sellers. LMAO!
All sellers aren't desperate like you may think and part of me thinks you think with what you are sitting on.
What does his age have to do with anything?

If you can continue to pay your mortgage then you should. What does his post say that suggests you shoudl foreclose on your home?

I think he is on planet earth.

What you owe on your mortgage has NO bearing on what your home is worth. You do get that right?

True. All sellers aren't desperate but that doesn't CHANGE the fact of listing your house for the current market and not the market of 2006 or 2007 even.
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Old 02-19-2009, 12:48 PM
 
Location: Dover, DE
2,220 posts, read 4,423,299 times
Reputation: 3603
The problem is that if someone does lower their price you will just go in a give a lowball anyhow. So why should someone do that only for someone to come in and offer even less!?!?! If you want to lowball, then just do it and get it off your chest. Why are you sitting waiting for someone to lower their price?

I love the term "price it right". What he H&%$ is "right"? "Right" for where?? "Right" for whom?? You?? The seller?? Just because you want my house, do you feel that I should price it right for YOU, even though you might only make $25k a year and don't qualify for it? In actuality, we are priced way lower than what we should be if we take into account "average" yearly appreciation of 5-6% from when we bought it. If I use the "average" number of 6%, we should be asking over TWICE what we are. A house down the road just came up for sale and they want 14% MORE than they paid less than a year ago!! WOW! At that appreciation, we should be asking $3.1 million for ours and that's basing it on the price we paid 30 years ago! So I'm thinking that our house is a real bargain!!! Come and get it!! Really annoys me that they had the nerve to lowball this widow that just wanted to move to an apartment....in reality, ripping her off....and now they want to benefit from it.

GAG...............I'm so sick of greedy, greedy people! Greed got us into this mess and more greed is trying to benefit from it. Not all houses are "affordable" to everybody. Quit trying to buy a $500k house for $100k!! If you CAN'T afford that house, get over it and look at something you CAN afford!! I would have loved to have bought a $500k house down here, but I'm an adult and put on my big girl panties and looked at what we COULD afford!
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Old 02-19-2009, 12:48 PM
 
2,197 posts, read 7,066,075 times
Reputation: 1698
As long as sellers own their homes, they can price them however they wish. If buyers don't like the price, they can move on to another house. It's called capitalism.

Buyers think they can set prices wherever they want them and sellers have to capitulate. Not all sellers agree. Yes, some homes are overpriced, but a lot of decently priced homes are sitting because buyers can't get mortgages. If I were a seller, I certainly wouldn't lower my price because marginal buyers can't get loans. I'd simply price within the comps, then wait until a qualified buyer came along and negotiate accordingly. Houses aren't commodities. Not all sellers have to sell... and they certainly don't have to arbitrarily lower their LP to 1998 pricing, because fencesitters think they should.
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Old 02-19-2009, 12:50 PM
 
Location: Minnesota
959 posts, read 1,736,348 times
Reputation: 754
Quote:
Originally Posted by keyweb View Post
Otherwise buyers like me have to sit there and watch "price reduction" after "price reduction" alerts on the MLS. And then we get disgusted that you overpriced your home to begin with, and we write you off our list. Just lower the price and your home will sell.

I am amazed that people (journalists, Realtors, etc.) keep saying that homes are taking 6 months, a year, or more to sell. Well, the reason for this is because HOMES ARE STILL OVERPRICED! If they were priced correctly, they would NOT be sitting!!!

If you are selling and "can't afford to sell at the true market value" of your home (think 1998-2000 prices), then do a short sale, file for foreclosure, etc. Why drag out the inevitable and keep the economy in a nosedive by overpricing your house, having it languish on the market, only to have to go through a short sale/FC in a year or two, and keep adding fuel to the fire of the housing crisis?

The quicker people price their homes correctly, the quicker we will get out of this housing crash--and economic catastrophe!!!
Who peed in your cherios this morning?

If your a serious buyer, I suggest you look in your price range. Not sit around being pissed at people who are out of your price range who won't lower their homes to what YOU think they should.

Kristine
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