Realtors and Commissions (Spring Hill, Century: live in, Walmart, small business)

[Irishiis49]

Originally Posted by algia

Not walk away from the loans.....stop taking things out of contest, I was replying to someone else, Walk Away from buying those OVERPRICED HOMES all those years ago, and just resort to common sense about living arrangements when you're mortgage or rent is 30% or below your monthly income.
I don't condone ppl walking away when they realized they cannot afford the monthly payment, you didn't get what I said.

You try to recover from 50 years of being under a communist regime, then talk. On the other hand however, ppl there are still better cared from than here! Much better. I honestly HOPE my country doesn't turn as Capitalist as the US....that would be awful. And for the record, WHY in the world would you think in "Socialism" people can just walk away!? OMG, please read about this before posting such nonsense! Walking away from a mortgage is not "appropriate" or "regime" dependent! OMG! it is someones choice! as a matter of fact FYI, Back there when you get such loan, you have to have other people sigh with you, a bank there doesn't just hand over this much money to a person based on forms or documents that can be falsified this easy, in Romania, you can't be a Notary without going to LAW SCHOOL for example, so unlike here where you can become a Notary online in less than 20 minutes, over there these documents related to a home purchase are taken VERY SERIOUSLY and ppl don't "walk away" the way the do here, or worst, declare bankruptcy and free themselves of debt they accrued recklessly!!!!!!!!!


The sad part in the US, is that while we have laws against this, they are NOT enforced. Which leads to home flippers etc and the "quick buck" bunch that contributed to this downfall just as much.

My friends adopted a child from Romania and trust me they don't take real good care of their orphans!I know this is off topic but I don't see people banging down Romanias door to get in on their great way of life!

[Pragmaticus]

Originally Posted by Irishiis49

My friends adopted a child from Romania and trust me they don't take real good care of their orphans!I know this is off topic but I don't see people banging down Romanias door to get in on their great way of life!

This is one of the %#%%*& comment I have read in a long time.

EU just bailed out Irelend, so what? You guys need to man up and pay back the EU before being judgemental on others, OK?

[Irishiis49]

Originally Posted by MeInDenudinFL

This is one of the %#%%*& comment I have read in a long time.

EU just bailed out Irelend, so what? You guys need to man up and pay back the EU before being judgemental on others, OK?

What are you talking aboutMy response or what I responded to?

[Pragmaticus]

OP: what you raised is a legit question and it has been discussed in detail in real state section, namely when does the fixied 6% com. applies depending on sales price.

Very tricky and I would say based on what kind of service you get. You can always negotaite on what you can pay to sale your house. Most important thing is to be well informed.

I encourage you to check some of the replies there.

Good luck and sorry that you have to short sale that much!

[Pragmaticus]

Originally Posted by Irishiis49

What are you talking aboutMy response or what I responded to?

I guess I am writing in Chinese, huh?

[Irishiis49]

Originally Posted by MeInDenudinFL

I guess I am writing in Chinese, huh?

No in @#$%&

[TerdFerguson]

Originally Posted by newyorker24

So the banks should have made sure people could pay back their loans instead of the buyers themselves making sure they could pay? What you are saying is that people are too stupid to make important financial decisions on their own so someone else must make them on their behalf.

Umm, yes. That's their job. Making sure people are qualified for a loan is what their entire business revolves around. If you think that's not their job then you don't know anything about banking...at all.

You keep saying things like "no one made this or that person take out a loan they couldn't afford. No one put a gun to their head." You can also, say "no one made the bank lend money to someone who was not qualified. No one made the bank lend money to a customer who was going to default."

Now I have a feeling that you and I might be talking about different things. If you are talking just about individuals blaming the bank when facing foreclosure then you're right. That's on the individual. When you sign a loan and mortgage you are agreeing to repay that loan and if you should fail to do so, the bank can take your house. Anyone in that situation who blames the bank is just passing the buck.

But if we're talking about causes of the housing collapse, that is waaaay more on the banks than on the individuals. The banks failed to do their job of underwriting loans. They were handing out free money to basically anyone. If they don't do that, we don't have a bubble. Period. The punishment for poor underwriting is that you go out of business and if not for TARP and the gov't saving their asses, that's exactly what would have happened to every major bank (citi, BofA, etc.) and all the i-banks as well.

[Spring Hillian]

No doubt the banks screwed up. They got greedy, to a degree. They made bad loans. They figured that if the customer defaults, they get the property, which is normal. What they didn't figure on is the breaking of the bubble at least so quickly.

If the govt didn't save the banks we'd have suffered more of a financial crisis than we did. It would have cost the govt a heck of a lot more in the long run. The money used to bail out the banks is going back to the govt with interest. The U.S. banking system itself is what got saved, not the individual banks themselves. That did not happen in 1929-the early 30's. It crushed the economy like a tin can. Lots of hardworking people lost everything they had because of it. A replay of that scene would not have been very good at all.

[algia]

If you want to compare notes on that, why don't you drive around Nebraska Ave or check out Louisiana/New Orleans in your spare time, or Mississippi to see how well orphans are treated here! How come you didn't adopt a child here? with all these teen pregnancies advertised on National TV with their own shows (talk about human degradation galore) and providing us with a great resource on that!???? are American kids not good enough for adoption by American parents??? Interesting....

Originally Posted by Irishiis49

My friends adopted a child from Romania and trust me they don't take real good care of their orphans!I know this is off topic but I don't see people banging down Romanias door to get in on their great way of life!

Look, 90% of Realtors don't pay for photography, they have templates for all those postcards that go out, no Realtor sits at his/her computer pretending to be a GRAPHIC DESIGNER and design the ads themselves. On the contrary, they take HORRIBLE PICTURES with questionable cameras, or worst, others buy DSLR cameras and then take SKEWED pictures themselves PRETENDING to be photographers doing a huge disadvantage to the property but posting ugly photos and of course taking business away from photographers who are SPECIALIZED in architectural photography, OR worst, they offer professionals $10 per house! (talk about photographers gas bill?) disregarding 100% the process of taking those photos appropriately and actually giving that property a chance to sell, instead these properties sit on the MLS for MONTHS and MONTHS because ppl look at them are move passed. They are NOT aware yet that these properties would sell much faster if they were presented properly and they would respect the people who can help them sell them! (graphic designers, pro photographers etc) they don't want to spend a PENNY out of their precious commission to ensure a high quality ad! My husband and I sold our last home in a week BECAUSE the house was de-cluttered, well furnished and had awesome pictures I TOOK! 1 WEEK, No realtor involved.

Yes, IN THEORY, they are supposed to GUIDE, in practice, they don't. If they were to guide ppl, 2004/2006 would have NEVER happened.

Originally Posted by MortonR As for expensive properties, they require expensive marketing, not just a sign and a listing in the Sunday paper. Web hosting, photography, virtual tours, etc., all cost money.

Their purpose is to provide guidance and advice to a buyer/seller and handle the transaction so everything is done in accordance with proper procedures and to protect the interests of their client.

Yes, the banks should have MADE SURE 300% that the "buyers" can re-pay their loans, WHY? simple, because Realtors became delusional suggesting prices go up, and buyers became delusional Keeping up with the Jonse's!

So the banks should have made sure people could pay back their loans instead of the buyers themselves making sure they could pay?

How is this even possible? since they work on commission only? do they get paid hourly as well by the "motheship" company they leach on? (Keller Wiliams, Remax etc)

The median GROSS income of Realtors in 2009 in Florida was $34,400 (now deduct $5K for business expenses). In 2005 it was $53,300. Nationwide in 2009, the median gross income of all Realtors was $36,700. Did some get rich? Maybe a few. The majority are middle class working stiffs.

Spring, I cannot wait for an opportunity to go back to EU and live in a country where the country citizens come first, not the bank accounts & business deals.

[algia]

It should be to cover their ass!? now the banks are out billions in loans that are gone, 50 or more have been put out of business and former buyers filed for bankruptcy, bank lost. IF The banks were concerned with getting their money back, they would have checked in detail if ppl can actually pay back.

Would YOU lend someone money not knowing they can pay it back??? $5 or $300k???

Do you think they called it: "Predatory Lending" because they were doing their jobs right???? nope, they saw a hole in the system and they wanted to see how far in the hole they can go. That's it.

Originally Posted by newyorker24

Legally responsible? Really? Under what law is the bank LEGALLY obligated to make sure YOU don't make stupid financial decisions?