Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
There a realtor on this board letting everyone know they're going to be advising their seller clients to "play hardball" with repairs already agreed to and under contract prior to April 30th, and use the $8k to threaten buyers with. If the world were just, sleeze like that would lose all their contracts in the next week or so - they're the type that helped to cause this crisis... and spend their time blaming it on the banks.
I think there may be a misunderstanding. I don't think the agent said anything about repairs already agreed to - that would be breach of contract. But, he will be hardnosed about new repair requests after inspections. And he should as he has a fiduciary duty to represent his seller client's best interest, not to be nice to the buyer.
From my readings of his other posts, he has been extremely helpful in his advice. Characterizing him as a "sleeze" is a total misrepresentation.
I think there may be a misunderstanding. I don't think the agent said anything about repairs already agreed to - that would be breach of contract. But, he will be hardnosed about new repair requests after inspections. And he should as he has a fiduciary duty to represent his seller client's best interest, not to be nice to the buyer.
From my readings of his other posts, he has been extremely helpful in his advice. Characterizing him as a "sleeze" is a total misrepresentation.
Yep. He didn't say anything about agreed to repairs. He said about repairs requested after inspection (that hadn't happened yet).
Ok, is there ever a price that is low enough that causes a red flag that it may be too low? I am just curious.
There was a house with it's own path to Lake Michigan. Three stories of floor to ceiling windows overlooking a beautiful ravine. New kitchen. New jacuzzi. On a very prestigious street.
Original price was $1.5 million. When it dropped to $1 million, I figured it was the market. When it dropped to $750 and didn't sell, I wondered what was wrong. When it hit $500k and still no takers, figured structural problems.
A few months later it sold for $380k.
Either it has structural problems or someone just got the deal of the century.
Coldwell banker has a "buyer bonus program" where the sellers offer the buyers up to $8,000 in cash back at closing- up to 3% of asking price. This is not on short sales. The deadline to join the program has past though, and from my research, very few sellers participated.
Coldwell banker has a "buyer bonus program" where the sellers offer the buyers up to $8,000 in cash back at closing- up to 3% of asking price. This is not on short sales. The deadline to join the program has past though, and from my research, very few sellers participated.
Good. Coldwell Banker's idea was dumb. If Coldwell Banker really wants to help get real estate moving again, they should lower the commissions they charge. That's really the only thing that they have control over.
Almost every seller has inflated their sale price to account for the $8k tax credit. With the tax credit gone I am not seeing any seller adjusting accordingly.
In this economy every one has lost and many continue to lose and yet we have not seen any reductions from the RE business sector. Maybe it is time for those RE agents to turn in their Lexus and start driving Fords while they lower their commissions.
Donsabi I disagree. When I priced my house I priced it to be at the bottom of the fair market value, lower than comps AND other listings. I listed it earlier than I had planned due to the tax credit, thinking that would motivate more buyers. My price did not get inflated for the tax credit. At least for my price range that wouldn't be worth the risk of losing a buyer. Maybe some did on the lower end of the market, but I don't see anyone raising 8K because of the tax credit.
I was hoping to sell my place in time to get the credit but no go. Now I don't really feel any urgency to sell so I can be patient. I'm not unreasonable with my asking price. Also I want the house I buy to be a STEAL not just a deal. There are so many foreclosure properties on the market in the area I am looking that I would be crazy to pay what some people are asking.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
