Are home and condo prices falling? (Sarasota: real estate market, renter, mortgage broker)

[duffer47]

Obviously S..King has a burr up his behind for some reason. As more and more baby boomers are retiring each year, it is only logical that the demand for housing in retirement areas is going to increase - driving up property values. The baby boomers birth years started after WW2 (1946) and extend to the early 60's. So you can see that there is still a lot of future retirees to be looking to relocate or buy a second home.

[Nancy in Nokomis]

The baby boomers that can afford to come here and buy their 2nd home are the ones that worked either for the government or for a company for 30 years with great pensions and retirement health care - so sad that the generation after them will not be able to afford to move to Florida or buy the 2nd Florida home, what then?

[ShekleKing]

Look, we had the same "wave" of so-called "baby boomers" during the LAST BOOM and bust housing cycle.

Some people clearly have very very short memories, or truly don't understand pricing, loan-to-values, appraising, pricing power, pricing resistance, real demand, market elasticity, trendlines, raw materials, labor/wage issues, land acquisition, regional planning, capital markets, techicals, Interest Rates, GSE's or much anything else.

"Baby Bommers" have been "retiring" for decades, and SF house prices have still fluctuated DRAMATICALLY .

Prices shall continue to adjust based on a plethora of underlying reasons. That's what markets DO.

NO markets go up in straight line - forget the "baby boomer effect", it's but one factor.

You keep believing that this market is not overpriced, and I'll keep laughing. It's full choke. Write it down on today 5/3/2016, and we'll compare notes in July 2016.

Carry on. I have no agenda. Go buy yourself a Neal house...better yet, a WCI house right now. Go ahead.

[ShekleKing]

Originally Posted by bbronston

So, Mr. King...everyone is a fool and free market is a ripoff. Got it.

Let me give you some advice, since you're one of the zillion real estate carnival barkers in Manatee County, and you seem to spend more time on the interweb, i.e. City-Data, than developing your sales strategy and client base.

That said, never confuse a "free market" with a "FAIR market". People have gotten screwed in a "free market" in Sarasota-Manatee for the last 25 years or so.

"Free markets" are not immune from lying, collusion and even "price fixing" (even in markets such as pharma, natural gas and even diamonds).

Let me be precise. Please don't tell me about "free markets" in re you real estate carnival barkers...I know better about "free market activity" and FAIR markets, including transparency

Real-estate brokers typically—but not always—price their services based upon a percentage (known as a commission) of the sales price. At the same time, they usually offer a publicly-announced share of that commission to a broker that brings in a buyer. From my own experience in various real-estate markets, it appears that these commissions and offered-commission-splits are surprisingly similar—almost standard—within certain markets....Sarasota included.

That is not to say that they are fixed; there are many reasons they could end up at the same level—conscious parallelism (advanced antitrust concept), similar cost structures, etc. But real-estate brokers should understand that any agreement, express or implied, with a competing brokerage to charge a certain commission, or offer the same commission splits, is a per se violation of the antitrust laws, with both criminal and civil consequences. Brokers should independently set their prices or risk antitrust liability. Of course, brokers negotiating a particular transaction must discuss pricing (for that transaction).

Finally, it might be tempting for a broker to respond to a customer inquiry about a commission that the price is standard or is what some real-estate association suggests they charge. That should not, however, be the response. Real-estate associations with even a modicum of antitrust counseling would never suggest a commission, and a broker should not suggest that prices are set collectively in any way.

Brokers should not agree to divide territories (and this is not limited to written agreements). So if there are two major brokerage firms in a smaller town divided by a river, they should not decide between them that one will take properties north of the river, while the other stays to the south. Any such agreement violates the antitrust laws.


Another type of per se violation (in re free markets) is an agreement to allocate customers. Brokers should not agree to stay away from each other’s clients or former clients. Poaching may seem impolite, but agreeing not to do it can violate the antitrust laws.

Real-estate properties, particularly foreclosures, are often sold via auction. These auctions are often local (within a county) with the same players as participants. Bidders should not make any agreements about their bids or lack of bids. In fact, it is best not to discuss this sensitive information with competitors at all.


If you don’t believe me, your can read about the DOJ's criminal investigations in states like California and of course right here in Florida..


Go sell something and get off the interweb. Got it

[ShekleKing]

Originally Posted by La-La land

Ok Nostradamus McEinstein, skool us on how to buy a house then.

Sure thing bubba. Try this for starters:

Give a written OFFER with your OWN caveats and contigencies, and DEMAND it gets submitted to the actual SALES MANAGER , and not the real estate ***** sitting around or babysitting the MODEL house.

Ask for a written reply (email-text etc) and an EXPLANATION for the reply whether it's a rejection or an acceptance.

Don't accept the bullchitt from a housesitter that "oh no, they''re not going to accept that". Most larger properties have dedicated Sales Managers who are authorized to cut a deal. Most agents won't like your wanting to speak and deal directly with the SM.....too freekin bad.

Ask the fool, why NOT?. Let them tell exactly why, if you think your bid or offer is a fair one.

Never say "you just LOve the house"...bad move. Leave your spouse at home after she/he has already seen and likes the house. Deal one on ONE ! don't bring your kids and your dog and your mutha in law.

Stop the chitchat. This is business. You are doing THEM a favour fro walking in the damn door.

Have your CHECK BOOK in your hand.

Be more than happy to WALK STRAIGHT OUT THE DOOR and tell the agent, "if you want to get REAL on the house, then feel free to call me by __________" "I have other houses that I also have an interest in"

Just WALK away. and keep walking.....tell them "Fill or Kill"" by a date certain.

Go to your second, third or fifth house. Never fall in love with a freekin house..never. It's a damn house.

NEVER argue or try to convince a real estate carnival barker. Just LEAVE

[La-La land]

Well, submitting to the sale manager is probably a good tip, but otherwise that's a bunch of hot air. Thanks.

[bbronston]

Hey Shekky....if you think I'm wasting my time reading your nonsense, you are mistaken but, by all means, keep it up.

It's probably a coincidence but your style reminds me of several other personas that have come and gone around here. I'm sure it's just a coincidence, though.

[ShekleKing]

Originally Posted by La-La land

Well, submitting to the sale manager is probably a good tip, but otherwise that's a bunch of hot air. Thanks.

Well clearly you have never approached and insisted to talk to the Sales Manager, or you would not acknowledge that it's a viable TIP. Go back to sleep.

The only entities in real estate transactions that spew a "bunch of hot air" are in fact your lyin' real estate carnival barkers...hardly ever a buyer acting in good faith.

[duffer47]

Many things are overpriced from automobiles, groceries etc. but as long as there is a demand consumers will keep buying at those prices. The baby boomers are not to blame for the last real estate crash. That rested with the financial institutions that created an unstable environment. The demand for retirement communities will keep growing as more and more boomers retire. In many areas in Florida you will find that anywhere from 50-70% of buyers pay cash. Because of demand, future construction costs and labor, it is only logical that prices will continue to rise. I am very happy with my choice to buy in a gated community and so are many others. The ranting and raving by someone who is disgruntled has to be recognized as exactly that.

[ShekleKing]

Originally Posted by La-La land

Well, submitting to the sale manager is probably a good tip, but otherwise that's a bunch of hot air. Thanks.

I'll say this AGAIN in re "hot Air". Your Real Estate Carnival Barker (none of them), is your friend, not your buddy, not your pal, not your Advisor, not your Banker, not your Attorney, not your accountant, not your financial planner, not your wellness Coach, not your Medical Doctor (first do no Harm), not your personal chef, not your brother, sister or parent.

Real Estate Carnival Barkers are not fiduciaries. They are hawkers of bs houses, and/or land.

Most are simply intermediaries, facilitators and SalesMEN and SalesWomen.

All of them are commissioned SALES AGENTS whose sole purpose is to SELL you something you really may not need, want or prefer at the highest price possible.

For the most part, they have NO incentive to SELL YOU a "cheaper" house or "cheaper" piece of LAND. They don't care about you and your family. You're a flaming idiot if you believe that. Most are accomplished liars, and many in Manatee County or Sarasota County have nasty pasts to say the least....but most buyers/sellers don't do background checks on some of these Carnival Barkers (esp in other states).

Some of you can't seem to grasp and fully understand that real estate hawkers, developers EXIST only to get you to sign a purchase/sale CONTRACT. Not a damn thing else.