Results 9,451 to 9,475 of 26887
Thread: Real Estate Crash thread
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07-02-2020, 03:25 PM #9451
One of my college buddies married an event/promotions planner from NYC. Her family is from NYC, as in Manhattan. They have money. I was surprised the kind of money that could be made by such a profession. But these event planners can make some serious coin, especially about every 4 years when election season comes around. Politicos and business leaders getting together to schmooze and plan us serf's lives, and all that Illuminati stuff....
I wouldn't be surprised if they aren't looking at finding something nicer with a bit more room in Manhattan right about now. They've been renters forever."We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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07-02-2020, 03:44 PM #9452
Five Chinese visiting today at 6pm. That’s maximum at one time. All different names. Broker rep is from Fremont.
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07-02-2020, 03:51 PM #9453man of ice
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They're all coming together from one broker? Seems odd.
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07-02-2020, 03:57 PM #9454
Strange times. Doesn’t seem odd to me though. This realtor has sold 40 houses in the last year. He has a lot of clients.
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07-02-2020, 04:34 PM #9455man of ice
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Whatever works, i just never heard of something like that that's all.
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07-02-2020, 06:08 PM #9456
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07-02-2020, 07:29 PM #9457Banned
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Okay, well I'm not in the mood to argue, so I'll re-iterate the point I made in my first post on the subject, which I think is something we can agree on.
If you are going to build a home, make sure you are very familiar with all applicable codes that the jurisdiction has adopted, particularly if the place you are building is intended to be your primary residence. If those codes are lax/minimal/nonexistent, then great, go hog wild, but don't kill yourself or anyone else. If they aren't, it will greatly behoove you to have a complete understanding of all of the requirements you need to satisfy to be given the OK to occupy. This means familiarizing yourself with not just building code, but P&Z regulations/design standards, construction site management requirements, public works requirements, FEMA flood regulations (if you're building in a 100 year floodplain), etc.
I'm not here to espouse the virtues of onerous codes. I have seen multiple one-off projects where the owners have encountered substantial delays in receiving CO because of requirements not directly related to the construction/habitability of the structure itself, and it sucks for everyone involved. Do your homework thoroughly before you break ground/start roughing in a driveway and clearing the lot.
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07-02-2020, 08:48 PM #9458
Well, to make all of you feel better, our next door neighbors just put their house on the market for 25% less than they bought it for in 2005. I think our moving in next door was probably good for -15%, but the rest if just a lousy market.
Charlie, here comes the deuce. And when you speak of me, speak well.
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07-02-2020, 09:33 PM #9459
Man, CT is just a weird situation. Is there any place in that state doing well on the RE market. Have in-laws in Fairfiled County who bought a fixer upper, and basically remodeled the place and ended up with a nice place, but when the went to sell it, nada. It's been a rental since about 2011, and they can't get what they put into it. Crazy.
"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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07-03-2020, 12:44 AM #9460Registered User
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Losing GE and some other big money corps fucked up that county. CT has been draining pharma and insurance money for a few years and it's taken a big toll.
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07-03-2020, 04:30 AM #9461
About to get a backdoor offer on our 2/1 1255 sq ft house in Marin Co for $985K. $60K over asking. Don’t think it has even been put into MLS.
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07-03-2020, 06:33 AM #9462Banned
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Put it on the market. You'll likely get more than the 60k over if there is already a backdoor buyer
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07-03-2020, 08:44 AM #9463
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07-03-2020, 09:51 AM #9464
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07-03-2020, 10:05 AM #9465
From a straight numbers perspective, if a realtor is used and the place listed, what's the realtor cost of the transaction vs just getting a property lawyer and taking that 60k over appraised value? Wouldn't the realtor's cut take most of any value above that appraised value? Not that I have any issue with realtors, mind you, but cash over asking without an added complexity between buyer and seller seems desirable.
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07-03-2020, 10:51 AM #9466Registered User
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IME/IMO it depends, are you in a buyer's or a seller's market, is your agent any good, how soon do you need to sell, do you feel comfortable dealing in large amounts of money on the biggest purchase the average joe/jane canada is liable to ever make ?
the last house I sold in PG cost me 11K on the 210K price, agent was worth the $$$ cuz she got it done in only 3 weeks & took care of everything while i was skiing/beerdrinking, It sold so fast at first i thot I made a misteak on pricing but a month later the bottom falls out of the RE market due to the credit swap thing in the USA , turns out I sold at the peak so it was a good thing that house was sold so fast, if i did a FSBO I would have rode that price to the bottom but instead I look like a fucking genius
Maybe you price high in a rising market and look like a fucking genius, or maybe you price high in a falling market follow it to the bottom ... not so much ?
while on an Aviy course on his own recommendation that ambulance chaser L Hutz esq told me the drug store sales contracts have holes in them you can drive a truck thru so buddy agreed to write the purchase agreement for free IF he also got the conveyance/ title change.
he always sez " I'm not an Ambulance chaser, I'm on the voly fire dept, we get there before the ambulance "
What I will guaranty you is that ever one on TGR is a fucking RE genius
a good ski buddy of mine was a very sucessful agent with a grade 10 education sold RE between avi tech, gear store owner, hotelier and he said 20% of the agents write 80 % of the business, he also said of the money they charge after all the expenses the agent puts 20% in his pocketLee Lau - xxx-er is the laziest Asian canuck I know
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07-03-2020, 10:59 AM #9467
Just seeing/hearing of the rates in Van, which is a market I know almost nothing, on a million bid, after buyers and sellers commission and tax on their service, you're spending 3-4% on the sale. So if 54-46 goes realtor, he's going to need another 50k on top of the 60k over appraisal to make listing it formally work. I've gone through 2 home sales, small town markets mind you, and both were without realtors using only our own lawyers at fixed rates. In all 3 transactions, all parties walked away happy. Might have gotten a couple notes more or less with a realtor, or not, but over a 10yr period living in the home, it balanced out for me. But then I am far from a cut-throat capitalist. YMMV.
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07-03-2020, 11:11 AM #9468Registered User
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yeah so its my impression there is hinky shit going down in Vangroovy right now, in the big city I woudl want to have a good agent
there is something to be said for the marketing skills of a good agent, when I sold out of surrey the agent sold the house for a good price to a couple who were looking for a condo they weren't even looking for a house,
I think as many people have FSBO'ed too cheap as have FSBO'ed too high cuz they didnt know the market price
yesah samll town markets might be a litttle more stable this house/ right now/small town/ crazy market/ no inventory I would probably price it high & FSBOLee Lau - xxx-er is the laziest Asian canuck I know
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07-03-2020, 12:50 PM #9469
My agent works for 1% and has 26 years experience. Still lame. At my price range 1% is not that much more than an attorney or HomeBay assisted. HomeBay will do your paperwork for $2k on a FSBO and provide phone brokerage for $6k. If I didn’t have a lot of non permitted work I would use HomeBay.
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07-03-2020, 01:06 PM #9470Registered User
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home bay looks like cut rate RE, we have cutrate RE but not that one
L hutz was somewhere around a K to do everythingLee Lau - xxx-er is the laziest Asian canuck I know
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07-03-2020, 01:17 PM #9471
Attorney price has gone up. The guy I used last time is $4k now.
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07-03-2020, 01:19 PM #9472
The really successful local brokers both made a half assed pitch and started at 5% total. I’m paying 3% total.
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07-03-2020, 04:31 PM #9473
I did the showings today. Two smoking hot Asian women were just here. Had to look away.. The agent lady really liked it. Said I would hear from her. I’m getting people looking from wide area. Buyer from Burlingame coming tomorrow.
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07-04-2020, 08:30 PM #9474
Real Estate Crash thread
My zestimate went up $100k in four days after listing it. Realtor said before listing that it's an important number regardless of validity. It was $150k lower before we updated zillow facts prior to listing. All I did before listing was update the sq ft to total living space which added an initial $50k. I suspect the algorithms picked up some of the features. The listing price is now $30k below zestimate! Perfect.. I'll post the listing soon.
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07-06-2020, 07:45 AM #9475man of ice
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New Zealand and Canada are the countries with the highest real estate "bubble risk"? So these folks say: https://www.visualcapitalist.com/map...-bubble-risks/
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