Real Estate Crash thread

**liv2ski** · 10-21-2021, 05:57 PM

In the RE business there are so many conflicting issues in many offices. I would always suggest you do your homework and find your own sources for mortgages and home inspections. Hell, if it was possible I would tell you to shop for escrow & title services too, but the fucking listing agents always have a reason to insist the buyer use their favorite (and more expensive) companies. Could save you some money and aggravation in many cases.

**Harry** · 10-21-2021, 08:26 PM

Closed on the island today. Feels good.

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**up an down** · 10-21-2021, 08:28 PM

Originally Posted by Harry

Closed on the island today. Feels good.

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**snowaddict91** · 10-21-2021, 08:32 PM

Originally Posted by old_newguy

Same.

Probably still would have bought the house, but some of the obvious shit I’ve found…

Lesson: never take a referral for a home inspection from your own real estate agent.

When I bought my place in SLC, I used a realtor that was a friend from college. She referred a home inspector that was very thorough.

The one my realtor here in CO recommended was a fucking joke. I almost called the company this spring and told them I wanted a refund. My swamp cooler literally had no fucking bearings left. His report said "no issues noted." Among about 5 other similar things he missed.

Realtors, Home Inspectors, Mortgage Companies- they all can get together to screw you.

**pepperdawg** · 10-22-2021, 10:17 AM

Originally Posted by Harry

Closed on the island today. Feels good.

Congrats - Start the dedicated Isle St Harry thread......its not like you have anything else to do.

**dan_pdx** · 10-22-2021, 10:42 AM

Originally Posted by Harry

Closed on the island today. Feels good.

Sent from my iPad using TGR Forums

Congratulations! I'm available if you need help installing the stripper pole.

**Danno** · 10-22-2021, 11:32 AM

FKNA, Harry!

Harry's island does need its own thread, IMO.

**Ted Striker** · 10-22-2021, 11:35 AM

Yeah, definitely thread worthy.

Congrats Harry!

**californiagrown** · 10-22-2021, 11:39 AM

got a random text from a random developer asking to buy my house, and to name my price. I doubled the number i paid in February and texted him back. no response yet. hmmmmm.

**Ted Striker** · 10-22-2021, 11:41 AM

I get those too. Usually from agents and flippers.

**Kevo** · 10-22-2021, 11:55 AM

Congrats Harry!

**Toadman** · 10-22-2021, 12:05 PM

Originally Posted by californiagrown

got a random text from a random developer asking to buy my house, and to name my price. I doubled the number i paid in February and texted him back. no response yet. hmmmmm.

Just make sure he's not some random guy from Nigeria.

**Name Redacted** · 10-22-2021, 12:23 PM

Sitting in the middle of an all out bidding war on our investment right now. Fucking crazy. Not looking forward to trying to roll the gains into another property if this is how competitive it is. We are up 15% over asking so far.

**Dantheman** · 10-22-2021, 12:49 PM

Originally Posted by californiagrown

got a random text from a random developer asking to buy my house, and to name my price. I doubled the number i paid in February and texted him back. no response yet. hmmmmm.

One of those guys got through to me once by calling me on my office line (which was creepy). I offered 2x current Zestimate, his counter-offer consisted of telling me my place was "a piece of shit." A real smooth operator.

**schuss** · 10-22-2021, 01:14 PM

Yeah, we've gotten a bunch of texts and calls - always say "make an offer" and there's nada thus far. If you did that much work jackhole, at least have a price you want. Not like I'm going to make a realtor my agent if they're cold calling me out of nowhere.

**Garbowski** · 10-22-2021, 01:52 PM

FUCK! I never get any of those calls.

When we bought our place in Seattle all the crazy bidding war nonsense was going on but this one was reduced... still have no idea why 6 years later but always scared we will find out.

**JayPowHound** · 10-22-2021, 01:57 PM

Also never get those calls, for a "desirable" classic home in a suburban town with huge development recently. No reason to sell, but I'd love to counter with double Zillow. Sounds like fun.

But then I also enjoy fucking with telemarketers.

**Benny Profane** · 10-22-2021, 02:00 PM

No, no, you're supposed to say you got inquiries and asked some ridiculous amount in return. Then you'll feel so much better swinging your penis in cyberspace.

**liv2ski** · 10-22-2021, 02:08 PM

Originally Posted by californiagrown

got a random text from a random developer asking to buy my house, and to name my price. I doubled the number i paid in February and texted him back. no response yet. hmmmmm.

I get calls to sell our duplex all the time and last time a guy said "what's your number to sell"? So I doubled the Zillow estimate and replied $3M. Guy says ok, so for $3M we have a deal? I was shocked and told him to fuck off. People are crazy these days.

**BCMtnHound** · 10-22-2021, 02:25 PM

Originally Posted by Harry

Closed on the island today. Feels good.

Sent from my iPad using TGR Forums

Congrats Harry!

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**JayPowHound** · 10-22-2021, 02:28 PM

^^ Agreed. Harry, you definitely need to make friends with a local little person and post TRs with matching suits.

Even more props if you are both cutting/building with jackets and ties!

**dan_pdx** · 10-22-2021, 02:29 PM

I was kind of offended that when I got one of those calls and I told them my price was $1m (cue Dr. Evil), they told me "it's not worth that". No shit, but you're the one cold calling homeowners.

**RootSkier** · 10-22-2021, 06:51 PM

Originally Posted by Benny Profane

No, no, you're supposed to say you got inquiries and asked some ridiculous amount in return. Then you'll feel so much better swinging your penis in cyberspace.

Keep flickin' that bean, Benjamin.

**Toadman** · 10-26-2021, 10:49 AM

Churn and burn. It's bad enough out there for the little guy, but only getting worse when you are competing against big money for a house. But at some point the algorithm doesn't work.

https://finance.yahoo.com/news/housi...130000479.html

Realogy Holdings Corp. and Home Partners of America, a single-family landlord that Blackstone acquired this year, are expanding a joint venture that competes with Zillow Group Inc., Opendoor Technologies Inc. and other companies seeking to simplify the process of selling a home.

The venture, RealSure, named former Walmart Inc. executive Katie Finnegan as its first chief executive officer, signaling plans to accelerate growth.

“We’re backed by two of the most renowned real estate leaders in the ecosystem,” Finnegan said in an interview. “We should be a material player in the market and a trusted companion to both customers and agents.”

Realogy, the owner of Corcoran Group, Sotheby’s International Realty and others, teamed up with Home Partners to launch RealSure in late 2019 in an effort to keep up with a growing field of iBuyers -- companies that use technology to make it easier for regular people to sell their homes.

The iBuyers practice a new spin on home-flipping that uses price-estimating software to generate rapid offers. When owners accept, they acquire the property, make light repairs, and put the home back on the market.