Bullet Dodger

[one_muggle]

Don’t know the story behind the house starting this thread, but I am either seeing a truly devious plan by master Realtors with unusually long-term strategies or strong evidence that many “johnny-come-lately” Realtors that don’t know WTF they are doing.

Since around February I have been seeing POS houses dumped onto the market at $100-200k over likely peak pricing. They sit for two months or so, and then drop some insulting amount like $1k or 5k off a $750k asking price–I assume they are trying to juice the MLS, because a whopping 0.7% is unlikely to whoo even the dumbest buyer.
The story gets better, with another odd-value drop like $7.9k off–I guess they assume since it works for gas stations, it might work for houses.
On one local house I really feel bad for the stupid seller and joked to my wife that I would stick a letter in his mailbox explaining what a fraud his Realtor must be–she thought I really should.
Finally, as the DOM hits triple digits, these houses drop $20k one day and another $40k the very next day–ur?
Thirty more days later, they drop the price a total of $120k, within striking range of a realistic peak price–but now its almost another $100k too high.
And this is happening on several houses, all are POS homes.
Are they hoping that some stupid buyer, with a bad agent (or none) will swing by and think that with the HUGE price drop, it MUST be a bargain?
I guess while they are at it, they’ll load up on some Countrywide stock.

-one muggle

[bsrsharma]

rube, that reads like our experience selling our house in late ’05-early ’06 period. Only, we saw the writing on the wall and reduced the price to let it go. (Though, I still think the dilly-dallying on the price cost us may be 20 -30K).

[bsrsharma]

rube, that reads like our experience selling our house in late ’05-early ’06 period. Only, we saw the writing on the wall and reduced the price to let it go. (Though, I still think the dilly-dallying on the price cost us may be 20 -30K).

[bsrsharma]

rube, that reads like our experience selling our house in late ’05-early ’06 period. Only, we saw the writing on the wall and reduced the price to let it go. (Though, I still think the dilly-dallying on the price cost us may be 20 -30K).

[Arraya]

muggle,

I’ve noticed similar things as well. Just a dumb realtor using tactics that were successful during the run up coupled with an overy optimistic seller. Bad combination for getting the best price for your property. It’s like “come on dumbass you may want to change you strategy now that the market is different.”

[Arraya]

muggle,

I’ve noticed similar things as well. Just a dumb realtor using tactics that were successful during the run up coupled with an overy optimistic seller. Bad combination for getting the best price for your property. It’s like “come on dumbass you may want to change you strategy now that the market is different.”

[Arraya]

muggle,

I’ve noticed similar things as well. Just a dumb realtor using tactics that were successful during the run up coupled with an overy optimistic seller. Bad combination for getting the best price for your property. It’s like “come on dumbass you may want to change you strategy now that the market is different.”

[bsrsharma]

muggle, at least in our case, in defense of our realtor, I should say the current events are well outside of their sphere of even imagination, let alone experience. Most have not seen a truly severe downturn in home prices and that too combined with sudden vanishing of mortgage availability. Most of them are going to get dejected and depressed at both not getting offers and more importantly, not being able to convert even a fraction of the offers to sales due to credit crunch. There will be much exodus from the RE profession.

[bsrsharma]

muggle, at least in our case, in defense of our realtor, I should say the current events are well outside of their sphere of even imagination, let alone experience. Most have not seen a truly severe downturn in home prices and that too combined with sudden vanishing of mortgage availability. Most of them are going to get dejected and depressed at both not getting offers and more importantly, not being able to convert even a fraction of the offers to sales due to credit crunch. There will be much exodus from the RE profession.

[bsrsharma]

muggle, at least in our case, in defense of our realtor, I should say the current events are well outside of their sphere of even imagination, let alone experience. Most have not seen a truly severe downturn in home prices and that too combined with sudden vanishing of mortgage availability. Most of them are going to get dejected and depressed at both not getting offers and more importantly, not being able to convert even a fraction of the offers to sales due to credit crunch. There will be much exodus from the RE profession.

[Arraya]

I don’t think that is a defense. “Being outside the sphere of imagination.” I’ve never seen a downturn, nor am I a RE agent. But is not that hard to figure out that when prices are going down, price ahead of the curve…. Is it too much to ask to understand your job?

[Arraya]

I don’t think that is a defense. “Being outside the sphere of imagination.” I’ve never seen a downturn, nor am I a RE agent. But is not that hard to figure out that when prices are going down, price ahead of the curve…. Is it too much to ask to understand your job?

[Arraya]

I don’t think that is a defense. “Being outside the sphere of imagination.” I’ve never seen a downturn, nor am I a RE agent. But is not that hard to figure out that when prices are going down, price ahead of the curve…. Is it too much to ask to understand your job?

[gn]

P.S. bash if you must for throwing the offer at them in the first place

rube, if anything, we thank you for sharing. Congratulation on dodging that bullet.

If there's any bashing going on, it's directed toward people who pretend to understand real estate & financing when they don't know jack.

[gn]

P.S. bash if you must for throwing the offer at them in the first place

rube, if anything, we thank you for sharing. Congratulation on dodging that bullet.

If there's any bashing going on, it's directed toward people who pretend to understand real estate & financing when they don't know jack.

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