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sdrealtor
ParticipantSorry to hear you made the wrong choices when selecting agents and you are correct that many are not “decent agents”
As for the B-E-L-I-E-V-E comment, that was poking fun to to your post that PS was gone forever. This blog is too much a part of her life to walk away from. She’s back and I think its a good thing as she adds value.
ParticipantKitty Kat
B-E-L-I-E-V-E?
Hate to say i told you so, but I….aw shucks fugedaboutit
ParticipantI dont know the exact stat off the top of my head but beleive about 75% of people dont go back to the same realtor. As for referrals, the source of the referral is just as important as the referral. Go to someone you respect enough to beleive they know the difference between good and bad service.
The three days part is not unusual. Sometimes clients are out of the country or unreachable. Other times the agent is delaying with the sellers knowledge to see if any other offers come in. As for me, as soon as I get a call from an agent that is submitting an offer I always call my client as soon as I receive the offer. Sometimes I tell them its coming but 50% of the time an agent says one is coming it never does. It’s generally better to wait until you have it in hand to spare your client the emotional rollercoaster.
ParticipantMean price /sq ft is actually fine. Those $20M estates are few and far between not mention generally HUGE homes. Furthermore, as long as you are looking at the data by ZIP code your fine. San Marcos will be San Marcos and LJ will be LJ.
ParticipantThe best ways to pick a good one are to get referrals. If you needed open heart surgery what would you do? You’d ask around everyone you knew to find the best dr. When you embark on the biggest single purchase of your life why would you do anything less?
I would also be leary of anyone making huge claims that they can do what no one else can. There are lots of skilled people out there who can get the job done right. If the person looks a bit too slick beware!! The key is to find someone who is skilled and will put your best interests first. The internal conflicts in real estate sales are enormous and this is a very difficult thing to do.
ParticipantIn case any of you have been wondering where I’ve been the answer is very very busy. Three of my worthless listings received strong offers from well qualified buyers in the last 3 days. Sellers are painfully realizing they sell now at the market price or maybe not sell at all. I also wrote a couple offers this weekend and am negotiating (fiercely I might add) on a couple homes that should go together in the next 2 to 3 days. BTW, one of these buyers contacted me as a result of seeing one of my worthless listings on Realtor.com and another I met at an open house for one of my worthless listings.
Bottomline, listings are still the key to this business and lots of properties are changing hands everyday albeit at lower prices. Everytime I start wondering whether one of my lisitngs will sell, in walks a buyer. I will say, the offers coming in tend to be low ball in nature but the buyers are also well qualified. Sellers are thinking long and hard before writing a counter offer that might send that buyer packing to another property. Comps are coming down and the good agents are getting their sellers to come to terms with the best price they may see in the next 5 years or so.
ParticipantJust curious as to where you “met quite a few of them”. The best agents are walking the streets they are busy and work mostly by referral. Find someone you know who had a good experience and get a referral.
ParticipantI dont beleive this is unscrupulous but rather representing your sellers best interest as their listing agent. You have a buyer that is not performing and the deal looks shaky. You call someone that was interested in the property and tell them it looks shaky and if they are interested they have a chance to bump the person ahead of them. They submit a back up (hey they dont call it a back up offer for nuthin’) knowing full well that the person ahead can get their act together or lose the deal. Sometimes it pushes the buyer to perform (a good thing if you are the seller) sometimes it shakes out a weak buyer sooner than later. Nothing unscrupulous there.
As for the mortgage broker, they shouldnt share financial information unless expressly permitted by the buyer client. As for telling what you could “qualify for” thats not a big deal because with todays lax loan underwriting you can qualify for just about anything via stated income loans. Any decent agent knows that and relies on the numbers their buyers tell them they are comfortable with not what they qualify for.
ParticipantI agree and have been saying this for a couple years. See we can agree on something.
ParticipantWelcome Back PS. I hope you enjoyed the time off and spent a little more time with the family.
ParticipantNo surprise to me. I’ve said numerous times the market peaked in Spring 2004 and has been flat since. The changes in the median have more to do with what house is represented by the median than increasing prices. Slower sales at the lower end also impact it because short term rates that entry level buyers depended on have risen sharply. If you plotted the median price/sq ft I suspect you would see a pretty hefty decline.
May 9, 2006 at 9:52 PM in reply to: New Index Idea or “How to keep an unemployed appraiser busy.” #25116ParticipantThe median is also going up because we have a huge class of homes that is just starting to hit the resale market. There was very little in the way of new construction between the Late 80’s and around 1999. Since then there has been a huge amount of “bigger and better” homes built. To understand what is happening to the median you really need to know about the house that the median represents. In 1999 it was probably a house built in the 70’s while now it is probably something built in the 90’s.
May 8, 2006 at 11:33 PM in reply to: New Index Idea or “How to keep an unemployed appraiser busy.” #25099ParticipantClever idea and it would be useful. He’s my issue, appraisers do not attempt to establish market prices but rather they evaluate market prices and render an opinion as to whether they are defensible based upon prior closed sales. It may sound like a small difference but it’s bigger than it sounds. When prices are going up the number they come up with tend to be too low. In a declining market the numbers they come up with will tend to be too high.
With that said, it would be better than what we’ve got.
ParticipantPersonally I think the thread is improving also. In the past all we had was a bunch of doomsday messages from a few people trying to convince themselves they did the right thing by selling and renting or renters hoping the market will come down to the level they are hoping for. Wanting or trying to bring the market down wont do anything and what ever is gonna happen will happen. All we can do is watch what is happening and learn from it. People are asking good questions and getting solid answers from a variety of first hand sources.
Thats good…
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