There's No Shame in Renting, Home Prices Will Fall

[jjthink]

Love that cartoon! Thanks for posting it!

People should pay attention to the mortgages they are getting and if they don't then shame on them. I deliberately got one of those balloon type mortgages for my first house (only way I could qualify) but made a point of fixing the house up and getting in and out in under 2 years. No principal had been paid in that time but I knew that - it worked out because the fix up raised the value enough to cover that and then some.

I agree with everyone else that a realtor should help people get what they really want and can afford. I do some real estate work and the main thing I like about it is working to read people really well and finding them a home that they love and that loves them back (doesn't put them under financially). Hearing them say "How did you know this is just what we had in mind?!". It's very gratifying.
JJ

 

[Lazy J Farms Feed & Hay]

Quote:
If you are a Buyer's Agent then that is your job, but if you are the Seller's Agent your job is to sell the house for the highest possible price.

On a side note, my wife and i have been trying to sell our farm in Iowa since March. It is a 40 acre black dirt farm with a 2000 square foot split level and 55 x 110 pole barn. We have hasd 3 showings and no offers, not even any offensive low ball offers. We are now paying three mortgages (two temporart) while waiting to sell. both me and my agent are quite frustrated and are at a loss as to what to do other than keep lowering the price.

Jim

 

[jjthink]

Hi Jim, Yes, I was addressing people's experiences expressed above that their realtors have directed them to houses they can't afford (they being buyers).

As far as seller's agents, some unfortunately will tell a seller an unrealistic price in order to get the listing. Then the house gets stale on the market and in the end, the seller makes less than if that had priced right in the first place. That is a disservice to that seller.

In other cases, the house may be priced right but the market is in a funk or it's just bad luck. You as the seller can sometimes do everything just right and still see no sale for awhile. Been there too, with my own house!!

Good luck to you.
JJ

 

[Galaxie_Man]

Lazy J Farms Feed & Hay :

On a side note, my wife and i have been trying to sell our farm in Iowa since March. It is a 40 acre black dirt farm with a 2000 square foot split level and 55 x 110 pole barn. We have hasd 3 showings and no offers, not even any offensive low ball offers. We are now paying three mortgages (two temporary) while waiting to sell. both me and my agent are quite frustrated and are at a loss as to what to do other than keep lowering the price.

Jim

Boy I know that feeling. We tried FSBO (for sale by owner) on our first house in 2003. The house was in great condition, properly staged, and I showed it almost daily. The only real offer we had was from a young couple that dragged in a realtor to negotiate for them. I could not get that foolish woman to understand her commission from me would be ZERO, that her buyers would have to pay her out of pocket. I finally got so sick of her nonsense, I did an end run around her by calling the couple back directly, and told them if they want to buy my house, they need to talk directly to me. That was the end of that. We took it off the market, and put it back on the following spring, with a realtor who was a real good guy, and got me more than had I sold it myself, along with his commission.​