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  1. #1
    Gird your loins Daisy Hill's Avatar
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    12.11.17 @ 07:55 PM
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    Default Any of you other poor Bustards trying to sell your house?

    Horror stories.....My house is only newly on the market and getting lots of showings, yet both offers i have received (one after just 4 days on the market) are such lowball crap, that I would be embarrassed to be the agent relaying the offer. The agent is telling me that this may be as good as it gets


    Come on now....my house isn't in foreclosure, my taxes are paid, it's priced below appraised value and it's a good house in a good neighborhood that isn't flooded with listings:....why do buyers think I would take an immediate 20% drop in price? ... and pay all their closing costs and give them BACK 3% at closing? and throw in some of my furniture and give occupancy at closing?

    I understand that if I sell low, it's OK because I'll buy low, but whatever happened to saving up for your own downpayment and closing costs?

  2. #2
    Atomic Punk Van Squalen's Avatar
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    Welcome to the real estate bubble adjustment. Crash and burn. Ouchies, ain't it.

    Hasn't even hit bottom yet.

  3. #3
    Atomic Punk edwardv's Avatar
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    Its the downside of capitalism. Hold off if you can,,,hell rent it out for another year or two.

  4. #4
    Eruption
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    Default

    Or... just jack your asking price up by 20% then let someone talk you down to your original price. They think they are getting a deal, and you are getting what you want.
    Your favorite band sucks.

  5. #5
    Baluchitherium loveevhsince79's Avatar
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    Agents want as quick a sale as they can make happen because it puts the money in their pocket regardless of what happens to you. I think agents can be as slimy as the so called "used car salesman" when you are the seller. Now being the buyer, they work their butt off to get you to buy something.
    Life may not be the party we hoped for, but while we are here we might as well dance.

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  6. #6
    Atomic Punk Van Squalen's Avatar
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    Quote Originally Posted by xaminer View Post
    Or... just jack your asking price up by 20% then let someone talk you down to your original price. They think they are getting a deal, and you are getting what you want.
    LOL, that is no longer a viable tactic in this market.

    Too much inventory, too little buyers.

  7. #7
    Gird your loins Daisy Hill's Avatar
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    Quote Originally Posted by Van Squalen View Post
    LOL, that is no longer a viable tactic in this market.

    Too much inventory, too little buyers.

    You are correct sir....that would have worked a couple of years ago, maybe but not now


    Now you have to worry about the fact that if you are in a "declining market" which basically means the entire nation, your buyer has to have a higher down payment and the bank frequently requires 2 appraisals and the comparables do not exclude short sales, and foreclosures thus bringing down your appraised value......damn

    no wonder people just stick the keys in the mail and slink away in the middle of the night.

  8. #8
    Sinner's Swing! twonabomber's Avatar
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    12.08.16 @ 03:21 AM
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    i'll be looking soon, i don't think the bottom has fallen completely out yet. you east side or west side?
    "is this a good show tonight, or fuckin' what?" - DLR, Montreal, 11/10/07

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  9. #9
    Forum Frontman It's Mike's Avatar
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    Quote Originally Posted by Daisy Hill View Post
    Horror stories.....My house is only newly on the market and getting lots of showings, yet both offers i have received (one after just 4 days on the market) are such lowball crap, that I would be embarrassed to be the agent relaying the offer. The agent is telling me that this may be as good as it gets


    Come on now....my house isn't in foreclosure, my taxes are paid, it's priced below appraised value and it's a good house in a good neighborhood that isn't flooded with listings:....why do buyers think I would take an immediate 20% drop in price? ... and pay all their closing costs and give them BACK 3% at closing? and throw in some of my furniture and give occupancy at closing?

    I understand that if I sell low, it's OK because I'll buy low, but whatever happened to saving up for your own downpayment and closing costs?
    to answer your question as to why do people think you would take an immediate 20% drop in price, well because if you don't someone else will. And probably because they think your asking price is 20% over what they think fair market value is.

    It's a catch 22 on the "what happened to saving for a downpayment". If people would have been doing that for the past 10 years then your house wouldn't have gone up in value over the past few years as it likely has. Reality is slapping the market in the face and while I feel bad for some people who have lost a lot of money, this correction was very predicatable and very much needed.

  10. #10
    Eruption
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    Sold mine in April and didnt even have it on the market. A couple asked if we wanted to sell so I threw out a number and it stuck. Sold it for a 50% profit over what we paid 10 years ago. Now we're going to build a new one.

  11. #11
    Atomic Punk ZeoBandit's Avatar
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    12.12.17 @ 06:17 AM
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    Quote Originally Posted by Daisy Hill View Post
    Horror stories.....My house is only newly on the market and getting lots of showings, yet both offers i have received (one after just 4 days on the market) are such lowball crap, that I would be embarrassed to be the agent relaying the offer. The agent is telling me that this may be as good as it gets


    Come on now....my house isn't in foreclosure, my taxes are paid, it's priced below appraised value and it's a good house in a good neighborhood that isn't flooded with listings:....why do buyers think I would take an immediate 20% drop in price? ... and pay all their closing costs and give them BACK 3% at closing? and throw in some of my furniture and give occupancy at closing?

    I understand that if I sell low, it's OK because I'll buy low, but whatever happened to saving up for your own downpayment and closing costs?
    Screw you! (J/K!) At least you are getting lowball offers!

    We put my wife's house on the market in March of 07. We have YET to get an offer. The price currently is $35K less then it came on the market at originally. What pisses us off is that there is nothing wrong with the house at all. It has new roof, siding, windows, furnace, water heater, tile floors in kitchen and bathrooms, stamped concrete patio with sidewalk that wraps to the driveway, freshly painted and newer carpet.

    It shows one or two times a week. All the ass clowns that see it say one of three things:

    1) We want a basement
    2) Don't like the layout
    3) We love the house and it is at the top of our list. (But we never hear from them again)
    "What we are dealing with here, is a complete lack of respect for the law" - Jackie Gleason, Smokey and the Bandit

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  12. #12
    Gird your loins Daisy Hill's Avatar
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    Default

    Quote Originally Posted by twonabomber View Post
    i'll be looking soon, i don't think the bottom has fallen completely out yet. you east side or west side?
    Ummm I guess you could say EXTREME west side as I am over an hour west of CLE

    Quote Originally Posted by it's me View Post
    to answer your question as to why do people think you would take an immediate 20% drop in price, well because if you don't someone else will. And probably because they think your asking price is 20% over what they think fair market value is.

    It's a catch 22 on the "what happened to saving for a downpayment". If people would have been doing that for the past 10 years then your house wouldn't have gone up in value over the past few years as it likely has. Reality is slapping the market in the face and while I feel bad for some people who have lost a lot of money, this correction was very predicatable and very much needed.
    I bought my house well before the "up hill" on this crazy rollercoaster..paid a fair price...had a large downpayment...didn't get caught up in the stupid refi trap ... in other words did it the "right" way and still I'm getting caught up and paying for the greed of some of our local realtors and bankers I find that my home value has only gone up around 20% over the last 12 years...a very poor return on the investment if i had been looking at it that way

    But I never looked at my home as an investment....except in the extreme long term (like 30 years)....My home was my home and that was it's only function

    I never understood people who looked at homes as short term investments but so many have that the market is a mess and who knows when we'll hit the bottom.

  13. #13
    Forum Frontman It's Mike's Avatar
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    Quote Originally Posted by Daisy Hill View Post
    I bought my house well before the "up hill" on this crazy rollercoaster..paid a fair price...had a large downpayment...didn't get caught up in the stupid refi trap ... in other words did it the "right" way and still I'm getting caught up and paying for the greed of some of our local realtors and bankers I find that my home value has only gone up around 20% over the last 12 years...a very poor return on the investment if i had been looking at it that way

    But I never looked at my home as an investment....except in the extreme long term (like 30 years)....My home was my home and that was it's only function

    I never understood people who looked at homes as short term investments but so many have that the market is a mess and who knows when we'll hit the bottom.
    your house has only gone up 20% in the past 12 years?

    Agreed with everything else u said. Like many others, you got caught in a trap where alot of people bought homes that they couldn't afford and killed the market for everyone - not just them.

  14. #14
    Gird your loins Daisy Hill's Avatar
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    Quote Originally Posted by ZeoHalen View Post
    Screw you! (J/K!) At least you are getting lowball offers!

    We put my wife's house on the market in March of 07. We have YET to get an offer. The price currently is $35K less then it came on the market at originally. What pisses us off is that there is nothing wrong with the house at all. It has new roof, siding, windows, furnace, water heater, tile floors in kitchen and bathrooms, stamped concrete patio with sidewalk that wraps to the driveway, freshly painted and newer carpet.

    It shows one or two times a week. All the ass clowns that see it say one of three things:

    1) We want a basement
    2) Don't like the layout
    3) We love the house and it is at the top of our list. (But we never hear from them again)

    LOL I guess that puts it in perspective...I AM getting offers, and it's early in the game, so I guess I am prematurely bitching....it's just the time and energy it takes to negotiate back and forth when you start out soooo far apart is just draining --not to mention keeping the house up to show room standards and clearing out three or four times a week at almost no notice so that it can be shown.

    Your house sounds like my house...eveything that everyone hates to do (new roof, windows, boiler, waterheater, electrical, etc) has been done and they are still asing for more!

    As for the basement, if you had that, they'd be wanting radon tests and abatement and structural inspections...

    Seems like people want is a new house, decorated to their taste with a lifetime warranty at a rock bottom price...and some bankrupt builder will probably give it to them!

  15. #15
    Future's in the past....
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    11.03.17 @ 01:35 PM
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    Quote Originally Posted by Daisy Hill View Post
    Seems like people want is a new house, decorated to their taste with a lifetime warranty at a rock bottom price...and some bankrupt builder will probably give it to them!
    Not just bankrupt builders, but builders in general. Down here, builders are giving away practically anything and everything to move inventory. To say nothing of the closing cost incentives they are throwing in. In the near term, the individual trying to sell their home is going to get screwed.
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