Sellers and their economic conundrum

[raptorduck]

I did hear that researcher describe on NPR a pricing study for various things and then included real estate. I was hoping nobody would bring it up though. 😉

[JustLurking]

Don’t worry, Raptor. None of us are going to buy your house anyway. 😉

[JustLurking]

Don’t worry, Raptor. None of us are going to buy your house anyway. 😉

[JustLurking]

Don’t worry, Raptor. None of us are going to buy your house anyway. 😉

[JustLurking]

Don’t worry, Raptor. None of us are going to buy your house anyway. 😉

[JustLurking]

Don’t worry, Raptor. None of us are going to buy your house anyway. 😉

[Deal Hunter]

Very funny story about a seller….I got a call from a very irrate friend who wanted to sue her realtor for “making” her buy a rental property that is now $44K upside down. She needed my help to write up her case against this realtor.

So, she bought the home in August of 2007 for $202K. The latest comps in the area show that her suggested listing price if she wanted to sell now is $155K. So she wants to sue the realtor for her $47K “loss.”

She put 0% down and the builder paid all her closing costs. Her total mortgage was $1988 per month. She rented the house immediately and was able to get $1100 so her total monthly negative was $888. Her first mortgage payment was due in October and since then she has paid $6,216 toward the mortgage. Also in October, the realtor sent her a “client reimbursement” for $2000. So now, her total out of pocket to date is $4,216. Now, on top of that, she can write off her negative and other landlording related expenses on Schedule E of her tax return and would stand to write off up to $26K from her adjusted gross income.

Now she is furious. First because she is $47K upside down and second because she really doesn’t have much of a case against her realtor. What a conundrum!

[Deal Hunter]

Very funny story about a seller….I got a call from a very irrate friend who wanted to sue her realtor for “making” her buy a rental property that is now $44K upside down. She needed my help to write up her case against this realtor.

So, she bought the home in August of 2007 for $202K. The latest comps in the area show that her suggested listing price if she wanted to sell now is $155K. So she wants to sue the realtor for her $47K “loss.”

She put 0% down and the builder paid all her closing costs. Her total mortgage was $1988 per month. She rented the house immediately and was able to get $1100 so her total monthly negative was $888. Her first mortgage payment was due in October and since then she has paid $6,216 toward the mortgage. Also in October, the realtor sent her a “client reimbursement” for $2000. So now, her total out of pocket to date is $4,216. Now, on top of that, she can write off her negative and other landlording related expenses on Schedule E of her tax return and would stand to write off up to $26K from her adjusted gross income.

Now she is furious. First because she is $47K upside down and second because she really doesn’t have much of a case against her realtor. What a conundrum!

[Deal Hunter]

Very funny story about a seller….I got a call from a very irrate friend who wanted to sue her realtor for “making” her buy a rental property that is now $44K upside down. She needed my help to write up her case against this realtor.

So, she bought the home in August of 2007 for $202K. The latest comps in the area show that her suggested listing price if she wanted to sell now is $155K. So she wants to sue the realtor for her $47K “loss.”

She put 0% down and the builder paid all her closing costs. Her total mortgage was $1988 per month. She rented the house immediately and was able to get $1100 so her total monthly negative was $888. Her first mortgage payment was due in October and since then she has paid $6,216 toward the mortgage. Also in October, the realtor sent her a “client reimbursement” for $2000. So now, her total out of pocket to date is $4,216. Now, on top of that, she can write off her negative and other landlording related expenses on Schedule E of her tax return and would stand to write off up to $26K from her adjusted gross income.

Now she is furious. First because she is $47K upside down and second because she really doesn’t have much of a case against her realtor. What a conundrum!

[Deal Hunter]

Very funny story about a seller….I got a call from a very irrate friend who wanted to sue her realtor for “making” her buy a rental property that is now $44K upside down. She needed my help to write up her case against this realtor.

So, she bought the home in August of 2007 for $202K. The latest comps in the area show that her suggested listing price if she wanted to sell now is $155K. So she wants to sue the realtor for her $47K “loss.”

She put 0% down and the builder paid all her closing costs. Her total mortgage was $1988 per month. She rented the house immediately and was able to get $1100 so her total monthly negative was $888. Her first mortgage payment was due in October and since then she has paid $6,216 toward the mortgage. Also in October, the realtor sent her a “client reimbursement” for $2000. So now, her total out of pocket to date is $4,216. Now, on top of that, she can write off her negative and other landlording related expenses on Schedule E of her tax return and would stand to write off up to $26K from her adjusted gross income.

Now she is furious. First because she is $47K upside down and second because she really doesn’t have much of a case against her realtor. What a conundrum!

[Deal Hunter]

Very funny story about a seller….I got a call from a very irrate friend who wanted to sue her realtor for “making” her buy a rental property that is now $44K upside down. She needed my help to write up her case against this realtor.

So, she bought the home in August of 2007 for $202K. The latest comps in the area show that her suggested listing price if she wanted to sell now is $155K. So she wants to sue the realtor for her $47K “loss.”

She put 0% down and the builder paid all her closing costs. Her total mortgage was $1988 per month. She rented the house immediately and was able to get $1100 so her total monthly negative was $888. Her first mortgage payment was due in October and since then she has paid $6,216 toward the mortgage. Also in October, the realtor sent her a “client reimbursement” for $2000. So now, her total out of pocket to date is $4,216. Now, on top of that, she can write off her negative and other landlording related expenses on Schedule E of her tax return and would stand to write off up to $26K from her adjusted gross income.

Now she is furious. First because she is $47K upside down and second because she really doesn’t have much of a case against her realtor. What a conundrum!

[pfflyer]

Raptor, In your opinion are the homes in your price range “worth” 2003 values. I’m looking at a different sector but trying to assess what year these will fall to before they make sense again.

[pfflyer]

Raptor, In your opinion are the homes in your price range “worth” 2003 values. I’m looking at a different sector but trying to assess what year these will fall to before they make sense again.

[pfflyer]

Raptor, In your opinion are the homes in your price range “worth” 2003 values. I’m looking at a different sector but trying to assess what year these will fall to before they make sense again.

[pfflyer]

Raptor, In your opinion are the homes in your price range “worth” 2003 values. I’m looking at a different sector but trying to assess what year these will fall to before they make sense again.

[Author]

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