Calling The Bottom

[SHELLY]

Shelly,

I won't argue over the tremendous amount of condos for sale or the direction of the market in general. But I will point out that there is a lot of what I consider to be junk on the market. If you want a high floor condo with parking a quarter mile from your unit and long elevator waits then time is on your side. While these units are selling, the inventory is huge.

I wanted a low floor, 180 degree view, parking near my front door, and one flight of stairs to the beach. The reasonably priced inventory for these is in the single digits and the selling prices have held steady since last fall. (Except for what I paid;-))

JMHO,
Flyguy

...Oh there'll be plenty more bargains yet to come in every location, shape and price range for the patient, well-capitalized buyer. The recession will flush out a few more unintended sellers. There's no need to rush into purchasing now; that previous market frenzy and run-up is NEVER going to be repeated--and hurricane season is only a week away.

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[Bobby J]

...never ask a Realtor, "Is this a great time to buy?" ;-)


.

Who would you ask? Just curious... A baker? A bartender? Actually, all good people to ask... Get a lot of information from everyone and get a good honest agent to help you make some descisions. I think if you are buying to flip in a couple years not so good. If you are looking to hold and enjoy for years to come, great time to buy! Or you can wait until the bottom bell rings and come running with everyone else. Lord knows good investing is when "everyone" is doing it.;-)

 

[Sandcastle]

We?re not buying and we?re not selling. We?re just enjoying whatever time we can spend in SoWal with our friends.

The Mayan calendar predicts that the world will end on December 21, 2012 and I intend to throw one hell of a going away party on December 20, 2012. If we can hold on until then, the real estate market won?t matter.

 

[30ashopper]

Get a lot of information from everyone and get a good honest agent to help you make some descisions.

Based on what I see in the NRA reports, our local realtor reports, and the vast majority of listings, I'm not entirely sure such a thing exists. My suggestion to any prospective buyer would be - make your own decisions, do your own due diligence, don't trust anyone, and offer what you feel the property is really worth.

I'm mean really, not to be a jerk, but come on, realtors have a vested interest in convincing buyers to pay the maximum amount for a property. It's in their best interests. Why should I trust these people, especially in a down market when times are tough?

 

[seagrovegirl]

Based on what I see in the NRA reports, our local realtor reports, and the vast majority of listings, I'm not entirely sure such a thing exists. My suggestion to any prospective buyer would be - make your own decisions, do your own due diligence, don't trust anyone, and offer what you feel the property is really worth.

I'm mean really, not to be a jerk, but come on, realtors have a vested interest in convincing buyers to pay the maximum amount for a property. It's in their best interests. Why should I trust these people, especially in a down market when times are tough?

Realtors best interest is a happy client. Repeat clients and word of mouth bring in the commissions. I can say that most Realtors in sowal work by that ethic.

 

[30ashopper]

Realtors best interest is a happy client..

Ok, but how many realtors' clients who bought in 2005 feel 'happy' today? Come on seagrovegirl, we all know they sell to whoever is willing to pay whatever price. There are no ethics in real estate.

I should point out, I don't blame the realtors. But trust is something you gain by doing right by someone. I don't see a lot of evidence of that in the real estate markets of the recent past. If I did, I'd be less jaded, but I don't. There are a lot of people out there who are totally screwed. Realtor's didn't make the ultimate decision, but they stood by while the purchase was made.

 

[Bobby J]

Based on what I see in the NRA reports, our local realtor reports, and the vast majority of listings, I'm not entirely sure such a thing exists. My suggestion to any prospective buyer would be - make your own decisions, do your own due diligence, don't trust anyone, and offer what you feel the property is really worth.

I'm mean really, not to be a jerk, but come on, realtors have a vested interest in convincing buyers to pay the maximum amount for a property. It's in their best interests. Why should I trust these people, especially in a down market when times are tough?

If you mean not to be be a jerk, why are you being one?

 

[30ashopper]

If you mean not to be be a jerk, why are you being one?

Sorry I'm ranting. My apologies.

 

[Bobby J]

Ok, but how many realtors' clients who bought in 2005 feel 'happy' today? Come on seagrovegirl, we all know they sell to whoever is willing to pay whatever price. There are no ethics in real estate.

I should point out, I don't blame the Realtors. But trust Realtorsis something you gain by doing right by someone. I don't see a lot of evidence of that in the real estate markets of the recent past. If I did, I'd be less jaded, but I don't. There are a lot of people out there who are totally screwed. Realtor's didn't make the ultimate decision, but they stood by while the purchase was made.

Do you truly think agents just stood by knowing the bottom was going to fall out? I would apply to your "conspiracy theory" if many agents weren't experiencing the same problems as their clients.

 

[seagrovegirl]

If Realtors had a crystal ball our clients would be very happy....but unfortunately we don't. I advised my customers and clients honestly and truthfully, and I bought several properties myself in 2005. IMO, most Realtors do not encourage higher prices just to get a few extra dollars in their pocket. We encourage a medium between the buyer and the seller to make both parties happy....making a deal work and following through with it. I agree, there are some unhappy buyers out there stuck in a mess and I disagree that a Realtor "over sold" a property to line their pockets and intentionally put their client on the road to ruin.