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SD Realtor
ParticipantThere is no argument to that. I think we are all in the know that the situation is such that it may not be possible to let the market correct as it should. We have previously speculated that the domestic investment in leveraged obligations is more then anybody cares to acknowledge and this is the underlying cause (IMO) of any such bailouts, extensions, etc… I do believe this is one of the prime reasons why this depreciation cycle cannot be compared to the one in the 90’s or even the Japanese cycle. To me it is quite a bit worse then either of those because of the underlying leverage problem. I think that in the long run, the government (I lump Bernanke in with all those boobs) will need to lean on bedrock institutions and let others pretty much fend for themselves. In other words, I think mainstream banks will be supported by the federal government in one way or another. Lenders will either need to fend for themselves or possibly allow themselves to be swallowed up by banks. Bond insurers will ultimately get bailed out as well.
JWM I guess we interpret different results from the story. When I read,
“As part of the changes, Bernanke recommended that Congress give new, broader powers to the Federal Housing Administration and to the Department of Housing and Development.
Giving more strength to the national housing market, Bernanke said, “would be facilitated by allowing the FHA the flexibility to offer refinancing products to more borrowers.”
Yes he did go long and hard about basically begging investors to allow loan modifications via principal reductions rather then rate mods, but he also spoke a heck of alot about FHA “modernization.”
In the end, I think we would both agree that he said a whole hell of alot of nothing.
SD Realtor
ParticipantThere is no argument to that. I think we are all in the know that the situation is such that it may not be possible to let the market correct as it should. We have previously speculated that the domestic investment in leveraged obligations is more then anybody cares to acknowledge and this is the underlying cause (IMO) of any such bailouts, extensions, etc… I do believe this is one of the prime reasons why this depreciation cycle cannot be compared to the one in the 90’s or even the Japanese cycle. To me it is quite a bit worse then either of those because of the underlying leverage problem. I think that in the long run, the government (I lump Bernanke in with all those boobs) will need to lean on bedrock institutions and let others pretty much fend for themselves. In other words, I think mainstream banks will be supported by the federal government in one way or another. Lenders will either need to fend for themselves or possibly allow themselves to be swallowed up by banks. Bond insurers will ultimately get bailed out as well.
JWM I guess we interpret different results from the story. When I read,
“As part of the changes, Bernanke recommended that Congress give new, broader powers to the Federal Housing Administration and to the Department of Housing and Development.
Giving more strength to the national housing market, Bernanke said, “would be facilitated by allowing the FHA the flexibility to offer refinancing products to more borrowers.”
Yes he did go long and hard about basically begging investors to allow loan modifications via principal reductions rather then rate mods, but he also spoke a heck of alot about FHA “modernization.”
In the end, I think we would both agree that he said a whole hell of alot of nothing.
SD Realtor
ParticipantGood job FLU… I will check em out around tax time.
SD Realtor
ParticipantGood job FLU… I will check em out around tax time.
SD Realtor
ParticipantGood job FLU… I will check em out around tax time.
SD Realtor
ParticipantGood job FLU… I will check em out around tax time.
SD Realtor
ParticipantGood job FLU… I will check em out around tax time.
SD Realtor
ParticipantIt is the sellers setting prices. You can market all you want, you can show them all the data you want. Many people have to go through the process of watching a home sit for many weeks/months before they realize that the home they own is not immune to the downturn. Furthermore there are many realtors who will indeed provide reenforcement to incorrect pricing simply to get the listing. Even in my case I have a listing now where my recommended price was a good 20% less then the actual list price. In this case the sellers are a friend of someone close to me so I took it. There have been all of 3 showings in over a month. There are other cases where I took an overpriced listing and told the sellers flat out I will take your listing but it is overpriced in my opinion and I am skeptical of how much activity you will get. Other times I don’t take them. As a realtor sometimes you take it simply to get the traffic and hopefully other leads. If you do not others will. If nobody takes it, the owner will still find resources to put it on the market such as a Jeff Karchin or other more automated or discount realtors who will do it.
Also if someone does buy it who is to say who is wrong?
I am not trying to support an incorrect pricing strategy. Yet a very small percentage of posters here go to listing appointments and see the same repetitive behavior and hear the same things over and over again. I passed on the Surf Crest listing that came on a few weeks ago because of the pricing. The guy wanted to list at 1.4M with me. At least the Assist to Sell agent got him down some but not as much as it should be in my humble opinion.
The psychology of both buyers and sellers is much different then many of the logical perceptions owned by many who post on this site. People here are confounded by sticky sellers and just as confounded by buyers on the market who continue to buy homes albeit at lower numbers.
It is frustrating but eventually it will play out.
SD Realtor
ParticipantIt is the sellers setting prices. You can market all you want, you can show them all the data you want. Many people have to go through the process of watching a home sit for many weeks/months before they realize that the home they own is not immune to the downturn. Furthermore there are many realtors who will indeed provide reenforcement to incorrect pricing simply to get the listing. Even in my case I have a listing now where my recommended price was a good 20% less then the actual list price. In this case the sellers are a friend of someone close to me so I took it. There have been all of 3 showings in over a month. There are other cases where I took an overpriced listing and told the sellers flat out I will take your listing but it is overpriced in my opinion and I am skeptical of how much activity you will get. Other times I don’t take them. As a realtor sometimes you take it simply to get the traffic and hopefully other leads. If you do not others will. If nobody takes it, the owner will still find resources to put it on the market such as a Jeff Karchin or other more automated or discount realtors who will do it.
Also if someone does buy it who is to say who is wrong?
I am not trying to support an incorrect pricing strategy. Yet a very small percentage of posters here go to listing appointments and see the same repetitive behavior and hear the same things over and over again. I passed on the Surf Crest listing that came on a few weeks ago because of the pricing. The guy wanted to list at 1.4M with me. At least the Assist to Sell agent got him down some but not as much as it should be in my humble opinion.
The psychology of both buyers and sellers is much different then many of the logical perceptions owned by many who post on this site. People here are confounded by sticky sellers and just as confounded by buyers on the market who continue to buy homes albeit at lower numbers.
It is frustrating but eventually it will play out.
SD Realtor
ParticipantIt is the sellers setting prices. You can market all you want, you can show them all the data you want. Many people have to go through the process of watching a home sit for many weeks/months before they realize that the home they own is not immune to the downturn. Furthermore there are many realtors who will indeed provide reenforcement to incorrect pricing simply to get the listing. Even in my case I have a listing now where my recommended price was a good 20% less then the actual list price. In this case the sellers are a friend of someone close to me so I took it. There have been all of 3 showings in over a month. There are other cases where I took an overpriced listing and told the sellers flat out I will take your listing but it is overpriced in my opinion and I am skeptical of how much activity you will get. Other times I don’t take them. As a realtor sometimes you take it simply to get the traffic and hopefully other leads. If you do not others will. If nobody takes it, the owner will still find resources to put it on the market such as a Jeff Karchin or other more automated or discount realtors who will do it.
Also if someone does buy it who is to say who is wrong?
I am not trying to support an incorrect pricing strategy. Yet a very small percentage of posters here go to listing appointments and see the same repetitive behavior and hear the same things over and over again. I passed on the Surf Crest listing that came on a few weeks ago because of the pricing. The guy wanted to list at 1.4M with me. At least the Assist to Sell agent got him down some but not as much as it should be in my humble opinion.
The psychology of both buyers and sellers is much different then many of the logical perceptions owned by many who post on this site. People here are confounded by sticky sellers and just as confounded by buyers on the market who continue to buy homes albeit at lower numbers.
It is frustrating but eventually it will play out.
SD Realtor
ParticipantIt is the sellers setting prices. You can market all you want, you can show them all the data you want. Many people have to go through the process of watching a home sit for many weeks/months before they realize that the home they own is not immune to the downturn. Furthermore there are many realtors who will indeed provide reenforcement to incorrect pricing simply to get the listing. Even in my case I have a listing now where my recommended price was a good 20% less then the actual list price. In this case the sellers are a friend of someone close to me so I took it. There have been all of 3 showings in over a month. There are other cases where I took an overpriced listing and told the sellers flat out I will take your listing but it is overpriced in my opinion and I am skeptical of how much activity you will get. Other times I don’t take them. As a realtor sometimes you take it simply to get the traffic and hopefully other leads. If you do not others will. If nobody takes it, the owner will still find resources to put it on the market such as a Jeff Karchin or other more automated or discount realtors who will do it.
Also if someone does buy it who is to say who is wrong?
I am not trying to support an incorrect pricing strategy. Yet a very small percentage of posters here go to listing appointments and see the same repetitive behavior and hear the same things over and over again. I passed on the Surf Crest listing that came on a few weeks ago because of the pricing. The guy wanted to list at 1.4M with me. At least the Assist to Sell agent got him down some but not as much as it should be in my humble opinion.
The psychology of both buyers and sellers is much different then many of the logical perceptions owned by many who post on this site. People here are confounded by sticky sellers and just as confounded by buyers on the market who continue to buy homes albeit at lower numbers.
It is frustrating but eventually it will play out.
SD Realtor
ParticipantIt is the sellers setting prices. You can market all you want, you can show them all the data you want. Many people have to go through the process of watching a home sit for many weeks/months before they realize that the home they own is not immune to the downturn. Furthermore there are many realtors who will indeed provide reenforcement to incorrect pricing simply to get the listing. Even in my case I have a listing now where my recommended price was a good 20% less then the actual list price. In this case the sellers are a friend of someone close to me so I took it. There have been all of 3 showings in over a month. There are other cases where I took an overpriced listing and told the sellers flat out I will take your listing but it is overpriced in my opinion and I am skeptical of how much activity you will get. Other times I don’t take them. As a realtor sometimes you take it simply to get the traffic and hopefully other leads. If you do not others will. If nobody takes it, the owner will still find resources to put it on the market such as a Jeff Karchin or other more automated or discount realtors who will do it.
Also if someone does buy it who is to say who is wrong?
I am not trying to support an incorrect pricing strategy. Yet a very small percentage of posters here go to listing appointments and see the same repetitive behavior and hear the same things over and over again. I passed on the Surf Crest listing that came on a few weeks ago because of the pricing. The guy wanted to list at 1.4M with me. At least the Assist to Sell agent got him down some but not as much as it should be in my humble opinion.
The psychology of both buyers and sellers is much different then many of the logical perceptions owned by many who post on this site. People here are confounded by sticky sellers and just as confounded by buyers on the market who continue to buy homes albeit at lower numbers.
It is frustrating but eventually it will play out.
SD Realtor
ParticipantJWM you really think BB would let banks become insolvent? I guess I don’t agree. When BofA took Countrywide and all that bags of turd that Countrywide was full of, I think they knew darn well that they would get a nice hefty rescue from the government. It will happen sooner or later if it needs to happen.
SD Realtor
ParticipantJWM you really think BB would let banks become insolvent? I guess I don’t agree. When BofA took Countrywide and all that bags of turd that Countrywide was full of, I think they knew darn well that they would get a nice hefty rescue from the government. It will happen sooner or later if it needs to happen.
SD Realtor
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