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Chrispy
Participant“I could go on and on…”
Oh, but you have.
ParticipantI was the borrower so I did pay for the “appraisal,” as did many others who paid for a five-minute drive-by. The appraiser did not see the gopher-populated backyard. He also missed the pitted and dinged hardwood floors, which were scratched with what looked to a dagger-like tool whilst the scratcher was on crystal.
I’d say appraisers miss 85% of the house by depending just on the front and what is in the neighborhood. That said, I think we will be returning to the old-fashioned way of a walk-through in times to come.
ParticipantWhy should Zillow be any better than the appraisers who did drive-by appraisals in the past two years? They, too, have never seen the houses, unless only the facade in the front counts.
And we paid for those mock appraisals too – unlike Zillow, which is free.
ParticipantZillow calls them zestimates for a reason – it is not a firm number, but a range. I agree, the zestimates are sometimes wrong, but more often they overvalue a house rather than undervalue it. As far as posting what the owner (s) have paid and how often the house has been sold, I think Zillow does a good job.
Zillow is not perfect, but combined with county records we have a better picture of what’s going on out there.
Heaven help us all if we have to go back to depending on what agents have to say. We need more transparency in RE, not the vagueness and deceit that we’ve had in years past. I wonder if this NCRC group has ties with NAR?
ParticipantI’m annoyed that the media (FTH, major newspapers, etc) state “facts” such as, “The Smiths bought the house for $250K, sold it / can sell it for $400K, and so made / will make $150K profit.”
What about sales commissions? Closing costs? Carrying costs? Improvements? Taxes? Insurance? HOA fees? Mello Roos? I have several friends who claim to have made big on RE sales, but I think they are using the “new math” rules – where you subtract B (original cost) from A (sales price) but don’t consider C and any of its cousins (expenses incurred during ownership) before claiming gross profits.
Not to mention capital gains for property held less than two years – but, with the RE market going south, cap gains will no longer be a worry for many! I think the media doesn’t give the full story, so many think it’s all gravy when in fact, they are the ultimate turkeys.
ParticipantThanks, QC, WH, Will Entertain, and the rest of the acronyms out there…
ParticipantTo clarify: the sign was just a piece of cardboard – the type you find in a shirt package – that was hand-lettered in felt-tip marker. It was on a telephone pole, similar to something advertising a garage sale.
ParticipantI did my part – about a month ago I was driving around PB and saw a realtor’s cardboard sign that said, “Now is the time to buy” with a phone number. I scratched out the word “now” and replaced it with “later.”
Every little bit helps!
Participant………….I see debt people
ParticipantStatic: showing little change: a static population
I think you mean erratic. I agree, PS should show up periodically, but she might be finalizing her own website.
ParticipantComparing a car to a house – cars get a lot more use and abuse than a house – hence their depreciation.
ParticipantHow about “Option ARM Victim” to really get some traction?
Participant“If you look at San Diego, except certain central coastal areas, the region is really Hicksville, USA.”
How to win friends and influence people….
ParticipantI have a friend who sold a house in Mt. Helix earlier this year – divorce sale, took awhile to get escrow done. She wants to buy again and is considering a 2/2 house in La Mesa which has a wishing price of $600K.
She thinks she might get the owner down to $550K – and she is convinced that the market is as low as it will go, and will go up again RIGHT AFTER SHE CLOSES.
I have a hard time with people like her. I want to be a friend, but she doesn’t want to hear it. I know someone else who closed last month… I heard this after I made comments about the market heading increasingly south.
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