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Realtor: Ummm.... Can you put your wife on the phone, please?
Realtor: Here is a nice resale, built in 2021. It's listed for $825,000.
Me: What did the current owners pay for it?
Realtor: $725,000.
Me: What did it list for?
Realtor: $630,000.
Me: So the current owners overbid $95,000, or 15%, on the home?
Realtor: Well, it was a competitive market, and they wanted the home.
Me: And now they want me to pay 14% more on top of that, after they lived in it for one year?
Realtor: Ummm.... Can you put your wife on the phone, please?
Are we having record inflation or not? Please explain how housing prices are going to drop while everything else is going up 10%+ yoy.
You have to be an unethical dick to work in RE and I couldn't do it anymore.
Are we having record inflation or not? Please explain how housing prices are going to drop while everything else is going up 10%+ yoy.
pudil says
Are we having record inflation or not? Please explain how housing prices are going to drop while everything else is going up 10%+ yoy.
Housing prices are tied to wages, not inflation.
A few years back I talked to a mortgage loan officer. At that time we had more than 100k sitting in our checking account and it was in an increasing trend. She said the reason we have this cash in our account was because we live like students. That is, even after we graduated from school and got jobs, we continued to live like students.
What's the mortgage debt about? Is it about keeping the population running on an job treadmill? Is it about a method of preventing mass chaos? Is it about maintaining power status quo? We talk about freedom but seems to me the most important freedom is fiscal freedom.
Quick flip RIP.
Date Jul 21, 2022
Price Changed
Price $765,000
Date Jul 7, 2022
Price Changed
Price $775,000
Date Jun 16, 2022
Price Changed
Price $798,000
Date Jun 2, 2022
Price Changed
Price $820,000
Date May 19, 2022
Listed (Active)
Price $825,000
Date Oct 19, 2021
Sold (MLS) (Closed)
Price $389,000
How is it a RIP?
WookieMan says
You have to be an unethical dick to work in RE and I couldn't do it anymore.
I agree. Is this because agents work only on commission (no salary at all)? They don't eat if they don't kill. And they kill using any means necessary. An ethical real estate agent will soon leave real estate business. In fact, I met a young real estate agent who pretty much told me this.
I also hate the brag part of brokers. "I sold $10M last year." You'd be lucky to walk with $100-120k net if you don't own the brokerage. Big fucking deal. To be wealthy as a broker today you'd need to sell $20M+ and own the brokerage. 80% of agents, even with higher prices are lucky to sell $2-5M, which is $50-70k/yr net. Hence the reason Realtors are so shady. It's a shitty living unless you're super social and click with everyone you meet and aren't a tool. That's all there really is to it. Sales 101.
Silly question. When we call a house a single family home, does it mean that only one family should or is legally allowed to live there?
Designed for single family use. Can be used otherwise, just like a screwdriver does not only have to be used to drive screws.
Designed for single family use. Can be used otherwise, just like a screwdriver does not only have to be used to drive screws.
So its lawful for more than 1 family to live in a single family house?
Do laws specifically prohibit single family homes to be used for business purposes?
Don't ever use a realtor. My realtor kept telling me to not give lower than asking offers. She was annoyed that I made low ball offers at several homes. When she realized that I was canceling a 500K home to look at homes under 400K, she tried hard to convince me that other homes have low re-sell values and other flaws.
Don't ever buy from a national builder because their contract is made to protect them and only them.
zzyzzx says
I just looked up this listing. Something is amiss. They dropped the price by $350,000?
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.