jazz4cash said:
Builders may be reluctant to tick the hell out of anyone that has recently contracted to build or just closed on a new home by lowering the price for the next guy thru the door. The builders around here (MD subs of DC) are probably holding out hope that spring will be better
They (Builders) can afford to I suppose, what about the person/people who has/have to move for some reason and cannot hold out. From what I have read recently they are buying their target home and holding the 2 homes complete with expenses. The first home is not selling they are going down hill fast. But they still will not reduce the home to a SALABLE price because their REALTOR says the price this good. In there lies another problem. Realtors get paid on sales price, NOT the service they provide, it is in THEIR interest not the sellers to keep prices high. For those who paid 2 mortgages on 2 homes for 6 - 12 months, they may as well have reduced the price to start with. And for this they demand 6%.
Realtors amongst others need to get a dose of reality, I see continuously in RE adds here, comments like "$78,000" or $50,000 BELOW appraised value, When was the appraisal last year!!!!. When will they/we get it?
"The value of any item or commodity (A La the Stock Market) is the price someone is prepared to pay for it". If no one will buy at $xx below appraisal then the REALTOR has YET AGAIN, NOT done their job for the seller and has priced the home incorrectly.
This simply goes to prove once again they are all FOS (in the words of George Carlin), or more politely OTL. REALTORS IMHO and experience, work for THEMSELVES ONLY, regardless of what they might say and prove it time after time after time......
While I have also met some true ethical realtors in my time, I would say 95% are just like car sales people. Just read the RE adds in your local paper. Cute (Small), Adorable (Tiny), they just continue to debase themselves and the market. Just listen to them the next time you look at an open house. "Don't wait it will get snapped up at this price", been on the market for a year but when you go in it will be snapped up. Another trick is they re-list the property after a contract has expired and list it as a NEW listing, "Just on the Market".
How do I know all this? My landlady is a realtor with 25 years experience, I really believe she is one of the good ones. You should hear the stories, nepatism, lies and cheating that goes on in the RE business. Right down to what they are TOLD to say to the punters.
Sounds JUST like our great government doesn't it. What is wrong with admitting the state of things, pricing stuff accordingly and going on with life. Lying and cheating is more profitable I suppose......
Off Soap Box.....
SWR