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farbet.
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June 30, 2007 at 12:49 PM #63113June 30, 2007 at 12:49 PM #63163
Reality
ParticipantThe take that anyone who is buying is an idiot just cracks me up. Someone who cannot even generate enough income to buy a 600k house is supposedly smarter than someone who has made millions due to their intelligence or skill in something ( inheritance aside ). There may be some exceptions to this, but in general I doubt very seriously that median income people have more intelligence than above median income folks do.
Probably people making more are smarter than average. Not as much as you’d like to believe. Nevertheless, MOST AREN’T BUYING NOW.
Most of the wealth created in the last 10 years in Southern California is from housing appreciation. Everyone I know who bought a decade ago is shocked at the current prices. That’s called luck. Not exactly “intelligence or skill in something”.
June 30, 2007 at 3:11 PM #63125SD Realtor
ParticipantPersonally I have always presented an offer to my sellers no matter how ridiculous they are. I don’t really buy into the caviot that a realtor does not have to present a frivilous (pardonif I spelled it wrong) offer. Even if I simply make a phone call to the seller and give him the verbal details, I would much rather play it safe.
As far as being on the other when I represent buyers I also have no problem submitting an offer that my seller is comfortable with. If I feel that the sellers will not respond I do tell my client that, and I do let the buyers agent know verbally what the offer will be prior to sending it. In this market I don’t buy that line about sellers being insulted any more. It is a buyers market and sellers need to deal with it and/or their agents need to prep them that it is going to be this way for awhile. There is never any intent to insult, there are just people who are looking to mitigate their risk moving forward when they do buy.
SD Realtor
June 30, 2007 at 3:11 PM #63175ParticipantPersonally I have always presented an offer to my sellers no matter how ridiculous they are. I don’t really buy into the caviot that a realtor does not have to present a frivilous (pardonif I spelled it wrong) offer. Even if I simply make a phone call to the seller and give him the verbal details, I would much rather play it safe.
As far as being on the other when I represent buyers I also have no problem submitting an offer that my seller is comfortable with. If I feel that the sellers will not respond I do tell my client that, and I do let the buyers agent know verbally what the offer will be prior to sending it. In this market I don’t buy that line about sellers being insulted any more. It is a buyers market and sellers need to deal with it and/or their agents need to prep them that it is going to be this way for awhile. There is never any intent to insult, there are just people who are looking to mitigate their risk moving forward when they do buy.
SD Realtor
June 30, 2007 at 4:42 PM #63127jan777
ParticipantI agree about sellers not being insulted. We just recently sold our house and after lowering our price by $20,000 we had an offer that was $15,000 below our newly lowered price. We told our realtor that we could not accept the offer so the buyers countered again and our realtor ended up paying the closing costs. It was a win/win for all of us. We weren’t insulted with the original offer we just knew it was time for our realtor to work for her commission and make the deal happen and be within our price range.
On another note – We have bid on bank owned homes and apparently the rule with banks is if you bid within $30,000 of the current asking price then they will respond with a counteroffer and most will pick up some if not all closing costs. Any offer that is $30,000 or more lower than the current asking price the banks generally will not respond (at least not now).
June 30, 2007 at 4:42 PM #63177ParticipantI agree about sellers not being insulted. We just recently sold our house and after lowering our price by $20,000 we had an offer that was $15,000 below our newly lowered price. We told our realtor that we could not accept the offer so the buyers countered again and our realtor ended up paying the closing costs. It was a win/win for all of us. We weren’t insulted with the original offer we just knew it was time for our realtor to work for her commission and make the deal happen and be within our price range.
On another note – We have bid on bank owned homes and apparently the rule with banks is if you bid within $30,000 of the current asking price then they will respond with a counteroffer and most will pick up some if not all closing costs. Any offer that is $30,000 or more lower than the current asking price the banks generally will not respond (at least not now).
June 30, 2007 at 7:17 PM #63134NeetaT
ParticipantI low-ball even if it’s a seller’s market.
June 30, 2007 at 7:17 PM #63185ParticipantI low-ball even if it’s a seller’s market.
June 30, 2007 at 8:37 PM #63150hipmatt
ParticipantThe take that anyone who is buying is an idiot just cracks me up. Someone who cannot even generate enough income to buy a 600k house is supposedly smarter than someone who has made millions due to their intelligence or skill in something ( inheritance aside ). There may be some exceptions to this, but in general I doubt very seriously that median income people have more intelligence than above median income folks do. I will say this, I would rather be a millionaire and be an "idiot", than be a genuis and be poor.
Chris… maybe you can explain a few things to us…
You make it sound as if anyone "who can't even generate enough income to buy a 600k house", they are a brainless bottom feeding peon.
There are plenty of highly educated and intelligent people out there who can't afford a $600k home. In fact, the intelligent ones are buying with responsible loans and will eventually paid off their loans, the unintelligent ones are buying with toxic loans and are now likely in foreclosure. Actually the real intelligent ones are renting right now, and watching home prices drop, as opposed to the so called smart upperclassmen who just purchased watch his equity dwindle.
They say you could not really tell who is a true millionaire, they usually don't promote themselves that way, but you can tell who is broke, they are the ones trying to look like a millionaire, I find it true very often.
Chris you left off with a shallow, materialistic quote, I shall leave you with a few quotes as well, take them as you may…
"Wealth after all is a relative thing since he that has little and wants less is richer than he that has much and wants more."
"The first wealth is health."
"We all need money, but there are degrees of desperation."
"Without a rich heart, wealth is an ugly beggar."
"It is sheer madness to live in want, in order to be wealthy when you die."
"You may have tangible wealth untold, caskets of jewels and coffers of gold. Richer than I you could never be; I know someone who told stories to me."
"A man's true wealth is the good he does in the world."
"What right have you to take the word wealth, which originally meant ''well-being,'' and degrade and narrow it by confining it to certain sorts of material objects measured by money."
"What difference does it make how much you have? What you do not have amounts to much more."
"Rich people without wisdom and learning are but sheep with golden fleeces."
"He that is proud of riches is a fool. For if he is exalted above his neighbors because he has more gold, how much inferior is he to a gold mine."
"Superfluous wealth can buy superfluities only. Money is not required to buy one necessary of the soul."
"The Lord commonly gives riches to foolish people, to whom he gives nothing else."
"Intellect annuls fate. So far as a man thinks, he is free."
If you really would rather be a rich idiot than a poor genius, then I do feel bad for you.
June 30, 2007 at 8:37 PM #63202ParticipantThe take that anyone who is buying is an idiot just cracks me up. Someone who cannot even generate enough income to buy a 600k house is supposedly smarter than someone who has made millions due to their intelligence or skill in something ( inheritance aside ). There may be some exceptions to this, but in general I doubt very seriously that median income people have more intelligence than above median income folks do. I will say this, I would rather be a millionaire and be an "idiot", than be a genuis and be poor.
Chris… maybe you can explain a few things to us…
You make it sound as if anyone "who can't even generate enough income to buy a 600k house", they are a brainless bottom feeding peon.
There are plenty of highly educated and intelligent people out there who can't afford a $600k home. In fact, the intelligent ones are buying with responsible loans and will eventually paid off their loans, the unintelligent ones are buying with toxic loans and are now likely in foreclosure. Actually the real intelligent ones are renting right now, and watching home prices drop, as opposed to the so called smart upperclassmen who just purchased watch his equity dwindle.
They say you could not really tell who is a true millionaire, they usually don't promote themselves that way, but you can tell who is broke, they are the ones trying to look like a millionaire, I find it true very often.
Chris you left off with a shallow, materialistic quote, I shall leave you with a few quotes as well, take them as you may…
"Wealth after all is a relative thing since he that has little and wants less is richer than he that has much and wants more."
"The first wealth is health."
"We all need money, but there are degrees of desperation."
"Without a rich heart, wealth is an ugly beggar."
"It is sheer madness to live in want, in order to be wealthy when you die."
"You may have tangible wealth untold, caskets of jewels and coffers of gold. Richer than I you could never be; I know someone who told stories to me."
"A man's true wealth is the good he does in the world."
"What right have you to take the word wealth, which originally meant ''well-being,'' and degrade and narrow it by confining it to certain sorts of material objects measured by money."
"What difference does it make how much you have? What you do not have amounts to much more."
"Rich people without wisdom and learning are but sheep with golden fleeces."
"He that is proud of riches is a fool. For if he is exalted above his neighbors because he has more gold, how much inferior is he to a gold mine."
"Superfluous wealth can buy superfluities only. Money is not required to buy one necessary of the soul."
"The Lord commonly gives riches to foolish people, to whom he gives nothing else."
"Intellect annuls fate. So far as a man thinks, he is free."
If you really would rather be a rich idiot than a poor genius, then I do feel bad for you.
July 1, 2007 at 6:41 PM #63253
barnaby33ParticipantNeither scared, nor shy, just not in a hurry.
Josh
July 1, 2007 at 6:41 PM #63306barnaby33ParticipantNeither scared, nor shy, just not in a hurry.
Josh
July 2, 2007 at 9:41 AM #63307ibjames
ParticipantI grew up in a poor neighborhood. Lots of people on welfare, participants in free cheese programs and so forth. I’ll even admit I was on food stamps in high school. When I went to the office, at 16 years old to apply, I was appalled then even.
Babies in name brand jeans, people with pagers (pagers were cool then) and name brand clothes, gold jewelry, etc. etc.
Everyone at my school had designer clothes, but they treated them like gold. Every day you came to class with your clothes ironed, and looking nice. You didn’t wash your jeans all the time because that makes them age, you didn’t dry much of your clothes. Then we would drive to the suburbs and see the kids looking scruffy with wrinkled holy jeans and wonder what the hell are they doing.
I’m just applying that rule, that people without money try their damndest <-is that a word?> to look like they do.
July 2, 2007 at 9:41 AM #63360ParticipantI grew up in a poor neighborhood. Lots of people on welfare, participants in free cheese programs and so forth. I’ll even admit I was on food stamps in high school. When I went to the office, at 16 years old to apply, I was appalled then even.
Babies in name brand jeans, people with pagers (pagers were cool then) and name brand clothes, gold jewelry, etc. etc.
Everyone at my school had designer clothes, but they treated them like gold. Every day you came to class with your clothes ironed, and looking nice. You didn’t wash your jeans all the time because that makes them age, you didn’t dry much of your clothes. Then we would drive to the suburbs and see the kids looking scruffy with wrinkled holy jeans and wonder what the hell are they doing.
I’m just applying that rule, that people without money try their damndest <-is that a word?> to look like they do.
July 2, 2007 at 10:43 AM #63327Bob G
ParticipantRustico,
Excellant post. I don’t think it could have been expressed more eloquently.
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