"sticky" home prices (RE market, foreclosure, mortgage, mortgages)
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When people go look at homes they tend to have a price RANGE. So lets say my price RANGE is $250-$350k. Which it is. If I look at a home say listed at $325k and I just SAW a home for $280k and they are SUPER comparable the $325k person just WASTED my time by tricking me into seeing their overpriced piece of junk. Why? Well usually (normal market) a price $45k over another would actually MERIT that price difference (updated kitchen, etc..) Today it means that owner can't afford to sell his house for what it is worth.
So us buyers come in here to inform the sellers to stop wasting our time and price properly.
How was your time wasted? I don't understand. You had the comps on both homes or you had a brochure with you didn't you? from reading your posts it seems like you would have done your homework and have known both homes were SUPER comparable. I think you wasted the sellers time.
How was your time wasted? I don't understand. You had the comps on both homes or you had a brochure with you didn't you? from reading your posts it seems like you would have done your homework and have known both homes were SUPER comparable. I think you wasted the sellers time.
Houses in my area are much older so from a few picture it may be VERY tough to determine flow/layout of a house without seeing it.
hahaha. Sellers should paying me to view their homes. They should offer me their first born. My buyers status is a sellers wet dream.
When people go look at homes they tend to have a price RANGE. So lets say my price RANGE is $250-$350k. Which it is. If I look at a home say listed at $325k and I just SAW a home for $280k and they are SUPER comparable the $325k person just WASTED my time by tricking me into seeing their overpriced piece of junk. Why? Well usually (normal market) a price $45k over another would actually MERIT that price difference (updated kitchen, etc..) Today it means that owner can't afford to sell his house for what it is worth.
So us buyers come in here to inform the sellers to stop wasting our time and price properly.
I would not consider it a waste of time. Overpriced homes serve a purpose. They sell the competition.
yeah - alright. That is why I see so many BUYERS posting here EVERY FREAKIN DAY about people needing to lower their prices.
Kristine
Truthfully I can't say I feel bad for the seller that got a home equity loan on his 140,000 house because he was told it was worth 450,000 to pay off all his debt and purchase a couple of new cars, a motorcycle, a boat, and a new bathroom. I knew several of them. They thought they hit the jackpot. Now...they can't afford it, they are underwater, and back in debt. They are disgruntled sellers looking to the government for handouts claiming that they were misled and also looking to buyers to bail them out.
Maybe a box of this wold have helped them out. Losing money is a bitter pill to swallow.
http://www.baltlantis.com/public/MrHousingBubble2.gif (broken link)
Truthfully I can't say I feel bad for the seller that got a home equity loan on his 140,000 house because he was told it was worth 450,000 to pay off all his debt and purchase a couple of new cars, a motorcycle, a boat, and a new bathroom. I knew several of them. They thought they hit the jackpot. Now...they can't afford it, they are underwater, and back in debt. They are disgruntled sellers looking to the government for handouts claiming that they were misled and also looking to buyers to bail them out.
Maybe a box of this wold have helped them out. Losing money is a bitter pill to swallow.
So sad that buyers think this way of most sellers. Most sellers I know, bought what they could afford, put money into their homes, had to relocate and got hosed. They are not looking for a handout from anyone. If they were, they would just walk away from the house and say "screw it", not my problem.
Most sellers seem to think that most buyers bit off more than they could chew and that is just not the case around me.
As for the rest of the argument, I cannot argue with people who know everything about the market but yet just cannot seem to find ANY house to buy. Nothing is nice enough, or cheap enough. Heck, 1/2 of them have no real intention of purchasing a home in the first place. They just like to think they are "educating" sellers on how it works. To that, all I can say is good luck and have fun sitting on the sidelines. The majority of them seem so hostile and angry that things are just not going the way they want them to. Your not teaching anyone anything by comnig on a message board screaming that you want a house and you want it to be perfect and oh yeah, the seller is priced WAY to high.
By acting as if your buying status is gods gift and people should bend over and take it because you said so probably is not the best way to go about things. For those who have this attitude and have had offers thrown back in your faces, you might want to take a look at your approach. Your attitude and not your offer may be the very reason sellers are telling you to shove it. When we were sellers we had an offer from people who were exactly like this. They knew EVERYTHING about sellers (although they had never even owned a home before) and were just complete jerks about everything. Acting as if we owed them for wanting to buy our home. We told them to shove it and ended up selling it for less to a couple who were pleasant to deal with and knew how things worked. They understood the process and were gentle with the negotiation because they had just sold their own home for a loss. They "got it". Many of the buyers on this board just don't "get it".
There are others who have posted on here (buyers) like me who haven't "screamed " at any sellers,or expected them to "bend over and take it" or whatever the other drama being spewed.Just stated that we've relied on professional appraisals and the seller won't take appraisal. (for us 4 times)Of course the realtor told us we were being difficult.Difficult because we won't be pressured into paying more than something 's worth? We do have the resources to buy.We didn't care if a home needed some work or was perfect,all we wanted to pay was appraisal. And the one we really liked we said we'd go 15% more than appraisal,we were turned down because they wanted 35% more than appraisal.That's been our experience,no drama ,no name calling just venting frustration at what could have been a good experience for all ,but somewhere went south.Our lender told us listings were running 30% hugher than appraisal (with different appraisers)She said it's been bizarre.After reading others experiences on here I know we're not the only ones.No "bottomfeeders" here or "lowballers".There are some really good professional realtors on here. They give honest professional advice/opinion . They stay above the namecalling. I would have liked to have dealt with someone like that when we were trying to buy.
So sad that buyers think this way of most sellers. Most sellers I know, bought what they could afford, put money into their homes, had to relocate and got hosed. They are not looking for a handout from anyone. If they were, they would just walk away from the house and say "screw it", not my problem.
Most sellers seem to think that most buyers bit off more than they could chew and that is just not the case around me.
As for the rest of the argument, I cannot argue with people who know everything about the market but yet just cannot seem to find ANY house to buy. Nothing is nice enough, or cheap enough. Heck, 1/2 of them have no real intention of purchasing a home in the first place. They just like to think they are "educating" sellers on how it works. To that, all I can say is good luck and have fun sitting on the sidelines. The majority of them seem so hostile and angry that things are just not going the way they want them to. Your not teaching anyone anything by comnig on a message board screaming that you want a house and you want it to be perfect and oh yeah, the seller is priced WAY to high.
By acting as if your buying status is gods gift and people should bend over and take it because you said so probably is not the best way to go about things. For those who have this attitude and have had offers thrown back in your faces, you might want to take a look at your approach. Your attitude and not your offer may be the very reason sellers are telling you to shove it. When we were sellers we had an offer from people who were exactly like this. They knew EVERYTHING about sellers (although they had never even owned a home before) and were just complete jerks about everything. Acting as if we owed them for wanting to buy our home. We told them to shove it and ended up selling it for less to a couple who were pleasant to deal with and knew how things worked. They understood the process and were gentle with the negotiation because they had just sold their own home for a loss. They "got it". Many of the buyers on this board just don't "get it".
Kristine
No offense but these posts seem to be hitting a bit close to home for you. What comes up must come down.
As for the rest of the argument, I cannot argue with people who know everything about the market but yet just cannot seem to find ANY house to buy. Nothing is nice enough, or cheap enough. Heck, 1/2 of them have no real intention of purchasing a home in the first place. They just like to think they are "educating" sellers on how it works. To that, all I can say is good luck and have fun sitting on the sidelines. The majority of them seem so hostile and angry that things are just not going the way they want them to. Your not teaching anyone anything by comnig on a message board screaming that you want a house and you want it to be perfect and oh yeah, the seller is priced WAY to high.
By acting as if your buying status is gods gift and people should bend over and take it because you said so probably is not the best way to go about things. For those who have this attitude and have had offers thrown back in your faces, you might want to take a look at your approach. Your attitude and not your offer may be the very reason sellers are telling you to shove it. When we were sellers we had an offer from people who were exactly like this. They knew EVERYTHING about sellers (although they had never even owned a home before) and were just complete jerks about everything. Acting as if we owed them for wanting to buy our home. We told them to shove it and ended up selling it for less to a couple who were pleasant to deal with and knew how things worked. They understood the process and were gentle with the negotiation because they had just sold their own home for a loss. They "got it". Many of the buyers on this board just don't "get it".
Kristine
You do realize my comments about being a ideal buyer and sellers should thank me to view their homes was a TOTAL joke right? Well I am a good buyer on paper (large dp, great credit score, pre-approved and no contingencies) but I am a picky one when it comes to layout and location. Which is the reason I am still shopping.
And I would never make an offer and try to make the seller seem like they should be thanking me for it. I would simlpy present my offer to my agent give her the comps I am basing it off of and have her present it in a professional manner. No reason to **** off or insult a seller when you need them to meet you somewhere in the purchasing to get the house.
But I sure like to take things over the top on these forums and make jokes because there seems to be a group of people who take things WAY too serious and that really ignore basic things like what sells a house in todays market. And we can all discuss how taking down personal photos off a wall will help a house show better but I would like to think that MOST people can look beyond that and focus on what matters (what they want and what they can afford and is the house a good value in relation to the area and comps) Many sellers seem to think their house is different and hence warrants more money and in MOST cases they are dead wrong.
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