[urbanrealtor]

[quote=tc]I had some bad experiences with the zip people. I had one of their people show me a few places. During one of the showings the agent tried to pick up another guy that was just looking through the house. I let it slide. But the following day I got an email telling me that if I wanted to look at anymore properties I would need to supply:

1. A letter of Preapproval. I can understand that.
2. A copy of a current account statement. Not really ok.
3. And to sign a statement saying that I would only use zip as my agent. Wait a second. This guy tried to sell the house he was showing me to someone else. I was standing right next to him. I guess this didn’t work both ways.

Needless to say I refused to deal with them. Trust works both ways. I have a great agent now that I am very comfortable with. I have told her several times that it could be another year until I do decide to buy. She has never tried to pressure me into making an offer. Don’t forget.
You get what you pay for.

.[/quote]

Well put.
I would caution that generalizing based on brand is not always a good idea.
I learned that working as a HelpUSell office manager.

Even a brand itself can be inconsistent.
EG: It used to be that Prudential was the gold standard for strong agents and today that company is circling the drain.

Good point though about the poor conduct shown by the agent.

That just seems so….uncivilized. I dunno.

[urbanrealtor]

[quote=tc]I had some bad experiences with the zip people. I had one of their people show me a few places. During one of the showings the agent tried to pick up another guy that was just looking through the house. I let it slide. But the following day I got an email telling me that if I wanted to look at anymore properties I would need to supply:

1. A letter of Preapproval. I can understand that.
2. A copy of a current account statement. Not really ok.
3. And to sign a statement saying that I would only use zip as my agent. Wait a second. This guy tried to sell the house he was showing me to someone else. I was standing right next to him. I guess this didn’t work both ways.

Needless to say I refused to deal with them. Trust works both ways. I have a great agent now that I am very comfortable with. I have told her several times that it could be another year until I do decide to buy. She has never tried to pressure me into making an offer. Don’t forget.
You get what you pay for.

.[/quote]

Well put.
I would caution that generalizing based on brand is not always a good idea.
I learned that working as a HelpUSell office manager.

Even a brand itself can be inconsistent.
EG: It used to be that Prudential was the gold standard for strong agents and today that company is circling the drain.

Good point though about the poor conduct shown by the agent.

That just seems so….uncivilized. I dunno.

[urbanrealtor]

I recommend focusing on a good realtor rather than one who can kick you a few thousand dollars. If you can get both, then all the better.

I strongly recommend asking for references (recent ones) as well as a very clear explanation (in writing) with regards to what is being offered and what limitations there are.

If somebody posts that they do discounts and does not post specifics, you should make sure that getting that clarification is an immediate priority.

House Rebate has a good piece about what they offer with their discounts as well as when they do and do not apply.
http://sandiego.houserebate.com/about/buying.asp

[urbanrealtor]

I recommend focusing on a good realtor rather than one who can kick you a few thousand dollars. If you can get both, then all the better.

I strongly recommend asking for references (recent ones) as well as a very clear explanation (in writing) with regards to what is being offered and what limitations there are.

If somebody posts that they do discounts and does not post specifics, you should make sure that getting that clarification is an immediate priority.

House Rebate has a good piece about what they offer with their discounts as well as when they do and do not apply.
http://sandiego.houserebate.com/about/buying.asp

[urbanrealtor]

I recommend focusing on a good realtor rather than one who can kick you a few thousand dollars. If you can get both, then all the better.

I strongly recommend asking for references (recent ones) as well as a very clear explanation (in writing) with regards to what is being offered and what limitations there are.

If somebody posts that they do discounts and does not post specifics, you should make sure that getting that clarification is an immediate priority.

House Rebate has a good piece about what they offer with their discounts as well as when they do and do not apply.
http://sandiego.houserebate.com/about/buying.asp

[urbanrealtor]

I recommend focusing on a good realtor rather than one who can kick you a few thousand dollars. If you can get both, then all the better.

I strongly recommend asking for references (recent ones) as well as a very clear explanation (in writing) with regards to what is being offered and what limitations there are.

If somebody posts that they do discounts and does not post specifics, you should make sure that getting that clarification is an immediate priority.

House Rebate has a good piece about what they offer with their discounts as well as when they do and do not apply.
http://sandiego.houserebate.com/about/buying.asp

[urbanrealtor]

I recommend focusing on a good realtor rather than one who can kick you a few thousand dollars. If you can get both, then all the better.

I strongly recommend asking for references (recent ones) as well as a very clear explanation (in writing) with regards to what is being offered and what limitations there are.

If somebody posts that they do discounts and does not post specifics, you should make sure that getting that clarification is an immediate priority.

House Rebate has a good piece about what they offer with their discounts as well as when they do and do not apply.
http://sandiego.houserebate.com/about/buying.asp

[urbanrealtor]

[quote=SD Realtor]I believe that we will indeed see continued depreciation in the high end market. The question is how much. My wife and I like Birdrock a lot and back in 02 we toyed with the idea of moving there and regretfully did not.

To be honest I think you are overpaying for the home however you are purchasing smack in the middle of a spring rally. if you are intending on holding for 10 years like you implied I tend to think that you will have an opportunity to not be underwater at some point in that timespan. If financial considerations are the only factor then it is a no brainer, do not buy. Only you can measure the decision of lifestyle verses financials. You already mentioned that your current rent is higher then what this payment will be. Did you include property tax as well?

I will tell you that Birdrock is a great place to live. I will also tell you that other opportunities will arise but you will have to be patient. There are always more homes that come along, however the good ones seem to not come along to often. If you are trying to guess what the bottom will be for la jolla and Birdrock…hard to say…right now it is seeing more demand then in the past year or two but I think another 10 to 20 percent is not impossible iF things really crap out.[/quote]

Dammit.
I hate when Adam says what I was thinking faster and better than I did.

Also, bear in mind that the product in questions here only has to drop a small amount in asking to create effective demand (as your story illustrates).
This is very different than the areas I focus on where a drop of 40-60% from peak is often required to generate interest.

Even if you have to sell suddenly in the next 2 years, it is not clear to me that you would be looking at such a large loss (relatively speaking). Do bear in mind that these are not interchangeable goods (and therefore not a “perfect” market in an econometric sense). Also, timing the absolute bottom for your particular micro market is the kind of exercise that often ends up leading to a lobotomy.

This is a fancy way of saying that if you like an item and it is affordable and cheap (relative to its market niche), then market timing becomes more of a game than an actual strategy.

My two bits.

[urbanrealtor]

[quote=SD Realtor]I believe that we will indeed see continued depreciation in the high end market. The question is how much. My wife and I like Birdrock a lot and back in 02 we toyed with the idea of moving there and regretfully did not.

To be honest I think you are overpaying for the home however you are purchasing smack in the middle of a spring rally. if you are intending on holding for 10 years like you implied I tend to think that you will have an opportunity to not be underwater at some point in that timespan. If financial considerations are the only factor then it is a no brainer, do not buy. Only you can measure the decision of lifestyle verses financials. You already mentioned that your current rent is higher then what this payment will be. Did you include property tax as well?

I will tell you that Birdrock is a great place to live. I will also tell you that other opportunities will arise but you will have to be patient. There are always more homes that come along, however the good ones seem to not come along to often. If you are trying to guess what the bottom will be for la jolla and Birdrock…hard to say…right now it is seeing more demand then in the past year or two but I think another 10 to 20 percent is not impossible iF things really crap out.[/quote]

Dammit.
I hate when Adam says what I was thinking faster and better than I did.

Also, bear in mind that the product in questions here only has to drop a small amount in asking to create effective demand (as your story illustrates).
This is very different than the areas I focus on where a drop of 40-60% from peak is often required to generate interest.

Even if you have to sell suddenly in the next 2 years, it is not clear to me that you would be looking at such a large loss (relatively speaking). Do bear in mind that these are not interchangeable goods (and therefore not a “perfect” market in an econometric sense). Also, timing the absolute bottom for your particular micro market is the kind of exercise that often ends up leading to a lobotomy.

This is a fancy way of saying that if you like an item and it is affordable and cheap (relative to its market niche), then market timing becomes more of a game than an actual strategy.

My two bits.

[urbanrealtor]

[quote=SD Realtor]I believe that we will indeed see continued depreciation in the high end market. The question is how much. My wife and I like Birdrock a lot and back in 02 we toyed with the idea of moving there and regretfully did not.

To be honest I think you are overpaying for the home however you are purchasing smack in the middle of a spring rally. if you are intending on holding for 10 years like you implied I tend to think that you will have an opportunity to not be underwater at some point in that timespan. If financial considerations are the only factor then it is a no brainer, do not buy. Only you can measure the decision of lifestyle verses financials. You already mentioned that your current rent is higher then what this payment will be. Did you include property tax as well?

I will tell you that Birdrock is a great place to live. I will also tell you that other opportunities will arise but you will have to be patient. There are always more homes that come along, however the good ones seem to not come along to often. If you are trying to guess what the bottom will be for la jolla and Birdrock…hard to say…right now it is seeing more demand then in the past year or two but I think another 10 to 20 percent is not impossible iF things really crap out.[/quote]

Dammit.
I hate when Adam says what I was thinking faster and better than I did.

Also, bear in mind that the product in questions here only has to drop a small amount in asking to create effective demand (as your story illustrates).
This is very different than the areas I focus on where a drop of 40-60% from peak is often required to generate interest.

Even if you have to sell suddenly in the next 2 years, it is not clear to me that you would be looking at such a large loss (relatively speaking). Do bear in mind that these are not interchangeable goods (and therefore not a “perfect” market in an econometric sense). Also, timing the absolute bottom for your particular micro market is the kind of exercise that often ends up leading to a lobotomy.

This is a fancy way of saying that if you like an item and it is affordable and cheap (relative to its market niche), then market timing becomes more of a game than an actual strategy.

My two bits.

[urbanrealtor]

[quote=SD Realtor]I believe that we will indeed see continued depreciation in the high end market. The question is how much. My wife and I like Birdrock a lot and back in 02 we toyed with the idea of moving there and regretfully did not.

To be honest I think you are overpaying for the home however you are purchasing smack in the middle of a spring rally. if you are intending on holding for 10 years like you implied I tend to think that you will have an opportunity to not be underwater at some point in that timespan. If financial considerations are the only factor then it is a no brainer, do not buy. Only you can measure the decision of lifestyle verses financials. You already mentioned that your current rent is higher then what this payment will be. Did you include property tax as well?

I will tell you that Birdrock is a great place to live. I will also tell you that other opportunities will arise but you will have to be patient. There are always more homes that come along, however the good ones seem to not come along to often. If you are trying to guess what the bottom will be for la jolla and Birdrock…hard to say…right now it is seeing more demand then in the past year or two but I think another 10 to 20 percent is not impossible iF things really crap out.[/quote]

Dammit.
I hate when Adam says what I was thinking faster and better than I did.

Also, bear in mind that the product in questions here only has to drop a small amount in asking to create effective demand (as your story illustrates).
This is very different than the areas I focus on where a drop of 40-60% from peak is often required to generate interest.

Even if you have to sell suddenly in the next 2 years, it is not clear to me that you would be looking at such a large loss (relatively speaking). Do bear in mind that these are not interchangeable goods (and therefore not a “perfect” market in an econometric sense). Also, timing the absolute bottom for your particular micro market is the kind of exercise that often ends up leading to a lobotomy.

This is a fancy way of saying that if you like an item and it is affordable and cheap (relative to its market niche), then market timing becomes more of a game than an actual strategy.

My two bits.

[urbanrealtor]

[quote=SD Realtor]I believe that we will indeed see continued depreciation in the high end market. The question is how much. My wife and I like Birdrock a lot and back in 02 we toyed with the idea of moving there and regretfully did not.

To be honest I think you are overpaying for the home however you are purchasing smack in the middle of a spring rally. if you are intending on holding for 10 years like you implied I tend to think that you will have an opportunity to not be underwater at some point in that timespan. If financial considerations are the only factor then it is a no brainer, do not buy. Only you can measure the decision of lifestyle verses financials. You already mentioned that your current rent is higher then what this payment will be. Did you include property tax as well?

I will tell you that Birdrock is a great place to live. I will also tell you that other opportunities will arise but you will have to be patient. There are always more homes that come along, however the good ones seem to not come along to often. If you are trying to guess what the bottom will be for la jolla and Birdrock…hard to say…right now it is seeing more demand then in the past year or two but I think another 10 to 20 percent is not impossible iF things really crap out.[/quote]

Dammit.
I hate when Adam says what I was thinking faster and better than I did.

Also, bear in mind that the product in questions here only has to drop a small amount in asking to create effective demand (as your story illustrates).
This is very different than the areas I focus on where a drop of 40-60% from peak is often required to generate interest.

Even if you have to sell suddenly in the next 2 years, it is not clear to me that you would be looking at such a large loss (relatively speaking). Do bear in mind that these are not interchangeable goods (and therefore not a “perfect” market in an econometric sense). Also, timing the absolute bottom for your particular micro market is the kind of exercise that often ends up leading to a lobotomy.

This is a fancy way of saying that if you like an item and it is affordable and cheap (relative to its market niche), then market timing becomes more of a game than an actual strategy.

My two bits.

[urbanrealtor]

[quote=SD Realtor]Hi Vees,

Loan mods means that there may be other people in the complex who have had thier mortgages modified. That is, they to are in distress but the lender modified the terms of the loan.

Your home will be assessed based on the price of the sale not the appraisal.

As for your strategy it sounds good. Simply give it a shot and see what happens. If the seller does not negotiate then you have the option of walking or hanging in there. I think it will work out. [/quote]

I have been hearing a lot about assessments coming in different from sales.

I have not actually seen this myself.

Have you?

(not including minor differences)

[urbanrealtor]

[quote=SD Realtor]Hi Vees,

Loan mods means that there may be other people in the complex who have had thier mortgages modified. That is, they to are in distress but the lender modified the terms of the loan.

Your home will be assessed based on the price of the sale not the appraisal.

As for your strategy it sounds good. Simply give it a shot and see what happens. If the seller does not negotiate then you have the option of walking or hanging in there. I think it will work out. [/quote]

I have been hearing a lot about assessments coming in different from sales.

I have not actually seen this myself.

Have you?

(not including minor differences)

[urbanrealtor]

[quote=SD Realtor]Hi Vees,

Loan mods means that there may be other people in the complex who have had thier mortgages modified. That is, they to are in distress but the lender modified the terms of the loan.

Your home will be assessed based on the price of the sale not the appraisal.

As for your strategy it sounds good. Simply give it a shot and see what happens. If the seller does not negotiate then you have the option of walking or hanging in there. I think it will work out. [/quote]

I have been hearing a lot about assessments coming in different from sales.

I have not actually seen this myself.

Have you?

(not including minor differences)

[Author]

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