patrick.net

Did you mean "priced to sit"? ;)

I get frustrated when sellers relist their properties at the same price after being on the market for months. What are they trying to accomplish?

It's all just Realthore talk! They will do anything to make it look like it's time to jump in. They claim it's a buyers market, but yet it is not a buyers or sellers market for that matter. Using the words "priced to sell" is kind of idiotic if you think about it, because if it was priced to sell, you wouldn't have to claim that it is; it would just sell! :lol:

Realthores also talk up the property "breathtaking views", "paradise", they even use what they call staging (making the house appear to have potential), but just the fact that they have to use these tactics only shows their desperation. They didn't have to do all these things a few years ago!

I get frustrated when sellers relist their properties at the same price after being on the market for months. What are they trying to accomplish?

I love when they keep their house price high, because this way no one will buy it and by the time they realize that the only way they can sell it is by lowering the price, interest rates and inventory will be much higher; so they will have to lower their price more significantly, thus giving us a much bigger crash :twisted:

Realthore bull talk

It is ridiculous. We could actually devote a whole thread to realtwhore talk. “Cozy” and “charming” actually mean tiny and cramped. And “light fixer” means falling down.

Yes, "lowest priced unit" means "worst location". :)

In my neck of the woods, there is this RE sign that reads "Honey, stop the car!". My wife and I laugh every time we pass this house and the three others on the same block for sale.

As far as people who hold out on their price, I wish there were more of them. We're basically at the point where the cost of living has squelched most peoples ability to pay their price. When the interest rates rise another point or two, along with all the ARM resets, there is going to be a serious meltdown!

“light fixer” means falling down.

"Light fixer" means "land for sale" :lol:

The purpose of this is to make it look like a new listing. Who wants to buy a house that has been on the market for 6 month? If it was just listed this week you got a much better chance to get top dollar for it.

I think using this approach is more dangerous because people who are looking for houses will know that it was relisted and this will reveil the sellers desperation. They are much better off lowering their price now and taking a small beating rather than being pummeled beyond recognition!

Hans Writer:

The good old days of cheap real estate are gone. People these days invest rather in “real” estate than in stocks and the like.

You must be new here. :lol:

Two words "ARM resets"

Housing prices doubled/tripeled in the last few years, just like gasoline, health care and many other things. That’s just inflation.

Did salaries double/triple?

Compare current U.S. house prices to European real estate, it’s just about the same. And properties sit on the market there for a year or two, still no crash or bursted bubble.

The bubble has burst already, we are now in the denial phase. This is the time when the sellers hold out on their prices, buyers don't buy and inventories keep rising. We are almost at the next phase, the actual crash. If you read as much news as I do, you will know that foreclosures are breaking all time records all over the country. The crash is just beginning.

It’s normal for a half million dollar item to sit for a while, if it sells within the first few weeks then it was priced too low.

So in other words, you believe that all the houses that were purchased in the last few years at a break neck pace were priced too low?

What are you?

A Realthore? A homedebtor in denial? or a combination of the two?

I could show you tons of data that will prove witout a shadow of a doubt that a crash is on the horizon, but if you were a regular on this site, you would already be informed. Rather than try to present all this data to you and have to do it all over again for the next uninformed person, go back a year or two in the threads and start reading. It's all there in back and white.

Ram Pee and Hans Writer:

Please read some of this.

People still had to pay top dollar in 1989, 1990, 1992, unless they found a seller in an emergency

Those people who you refer to must live under a rock. During that period, you could have bought houses from the RTC for pennies on the dollar. I was very interested in buying at that time, but I was too young and didn't have the funds to invest though.

allah Says:
Ram Pee and Hans Writer:
Please read some of this.

who runs the 'another FB' blog? is it a poster here?

They put up a big billboard with the headline “There’s still time” facing the intersection at least a year ago, but I still only ever see about 20% of the lights on in the evening.

yeah, there's always the real estate agent lies... 'only a few left', '30% pre-sold', etc etc. there is no authority scrutinising their claims or regulating them. better to live in soviet russia and shoot them all or send them to the salt mines to rot their lungs by way of atonement... they're such arrogant tossers at showings as well...

ram pee, i'm trying to find out who authors the 'another FB' blog referenced in allah's post. nothing to do with your posts...

The purpose of this is to make it look like a new listing. Who wants to buy a house that has been on the market for 6 month? If it was just listed this week you got a much better chance to get top dollar for it.

Yes, but relisitng at the same price does not change anything. I will only deal with honest agents and/or sellers.

apparently everyone is going crazy in perth, western australia, right now, as the boom rolls around there, and peters out everywhere else. they have benefited from the commodities boom there, being a mining state, particularly iron ore to china, but that is all. it’s a very remote city of about 1M people, and most young people try to leave, which leaves the rental market shaky. spruikers and developers are doing their best to cash in while they can on the phenomenon.

an article in the paper last week bemoaned how sydney is ‘losing ground’ against other states in ‘price growth in property’ — not only is it already 40% more expensive than the next city, but has lead the boom for 2 decades. the article presents the situation as though it is mass unemployment or a recession, and the state is falling behind in the economy. naturally, it’s completely unproductive growth, and it’s more a signal to voracious investors to tear off and look for new turf… none of that ever gets a mention of course. it really is a sick society…

Although inventory is growing, psychology is still the same, people still expect top dollar and will not settle for anything less.. yet.

Psychology is not quite the same anymore. Sellers are getting defensive.

Rates are still historically low.

This means that rates can only go up?