October 17, 2008
Subscribe to:
Post Comments (Atom)
skip to main |
skip to sidebar
A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
About Me
HP blogs & websites
- AmericaPANIC
- Angry Bear
- Angry Renter
- Bank Implode-O-Meter
- Big Picture
- Blown Mortgage
- boom 2 bust
- Bubble Blog News
- Bubble Markets
- Bubble Meter
- BusinessWeek Hot Property
- Calculated Risk
- Case Shiller Graphs
- Charles Smith
- CNBC Realty Check
- Contrarian Chronicles
- Countrywide Foreclosures
- Deflationland
- Denninger Market Ticker
- Dirty Scottsdale
- Dollar collapse
- Dr. Housing Bubble
- Drudge Report
- Fed Up USA Protest
- Financial Sense
- firedoglake
- Flippers in Trouble
- Foreclosure Data
- Gawker
- Gold equals money blog
- Gold Prices
- High Probability kid
- homegain blog
- Housebubble blog
- Housing Blog Recap
- Housing Bubble Bust
- housing bubble hall of shame
- Housing Doom
- Housing Fear
- Housing Tracker
- Housing Watch Price Tracker
- Housing Wire
- I Can't Sell My House
- Infectious Greed
- Inventory Overload (realtor)
- Irvine housing blog
- itulip
- J-walk blog
- Kitco
- Kunstler
- LA Times Bubble Blog
- LA Westside Bubble
- Lasner on Real Estate (OC)
- Lawrence Yun Watch
- Long Island Bubble
- Marin Bubble
- Media - BusinessWeek
- Media - Financial Times
- Media - New York Times
- Media - News Hounds
- Media - Olbermann Blog
- Media - TV Newser
- Media - Wall Street Journal
- Media Matters
- millionaire mommy
- Mish's Global Economic
- ML Implode-o-Meter
- Moneyfiles Bubble Blog
- Mortgage Fraud Blog
- Mortgage Insider
- Mortgage Ledger
- mortgagefit portal
- My Two Cents Blog
- National Mortgage News
- News: Reddit
- Northern New Jersey Bubble Blog
- NYC bubble
- Paper Economy Blog
- Paranoid Ben's boring blog
- Patrick.net
- PeakOil - Life After the oil crash
- Phoenix Flippers in Trouble
- Piggington
- PIMCO Bill Gross
- Politics - C-Span Videos
- Politics - Dick Morris
- Politics - First Read
- Politics - FreeRepublic GOP Talking Points
- Politics - Huffington
- Politics - Kos
- Politics - Malkin
- Politics - National Journal
- Politics - Politico
- Politics - PoliticsTV.com
- Politics - realclearpolitics.com
- Politics - RedState GOP Talking Points
- Politics - The Note
- Politics - TPM Cafe
- Portland Oregon Bubble
- Prudent Investor
- Ramen Recipes for Realtors
- rancid truth
- Real Clear Politics
- Real Estate & Housing Outlook
- Real Estate Bloggers
- Real Estate Decline
- Redfin.com
- Republicans Are Assholes
- Sacramento Landing
- Scottsdale Sucks
- Seattle Housing Blog
- SlackerRevolution
- SoCal Bubble
- Soot & Ashes - New from HousingPANIC
- Speculative Bubble
- Stocks - Blogging Stocks
- Stocks - Bob Brinker
- Stocks - Cramer Mad Money Videos
- Stocks - DealBreaker
- Stocks - Denninger
- Stocks - Financial Times
- Stocks - Forex expert
- Stocks - I Bank Coin
- Stocks - Market Ticker
- Stocks - Money Week
- Stocks - Motley Fool Caps
- Stocks - Option Addict
- Stocks - Options Trader
- Stocks - Portfolio.com
- Stocks - RealClearMarkets
- Stocks - Seeking Alpha
- Stocks - TheStreet.com
- Stop the Mortgage Bailout
- the greenspan mess
- The Superficial
- Trulia
- Truth about mortgage blog
- UK House Bubble
- Video - Blip Radical TV
- Video - BrassCheckTV
- Video - Countdown
- Video - Fox Business
- Video - Movietone News
- Video - NBC News
- Video: Bloomberg Live
- Video: BNN Bubble News
- Video: C-span Junkie
- Video: CNN Live
- Video: Crooks and Liars
- Video: Daily Show
- Video: Housing Crash TV
- Video: Jim Cramer
- Video: MSNBC
- Video: PBS Frontline
- Video: Peter Schiff EuroPacific
- Video: Politics Videos
- Video: Presidential Debates
- Video: TPMTV
- Vigilant Investor
- Voice of San Diego
- What Bubble?
- Wiki US Bubble
- Zillow.com
- zz HP Mandatory Terms of Use
Blog Archive
- February 2022 (1)
- August 2018 (1)
- November 2016 (1)
- June 2013 (1)
- December 2010 (1)
- November 2008 (22)
- October 2008 (155)
- September 2008 (164)
- August 2008 (141)
- July 2008 (108)
- June 2008 (129)
- May 2008 (128)
- April 2008 (161)
- March 2008 (198)
- February 2008 (168)
- January 2008 (190)
- December 2007 (151)
- November 2007 (132)
- October 2007 (146)
- September 2007 (157)
- August 2007 (143)
- July 2007 (163)
- June 2007 (147)
- May 2007 (153)
- April 2007 (135)
- March 2007 (118)
- February 2007 (147)
- January 2007 (138)
- December 2006 (157)
- November 2006 (154)
- October 2006 (193)
- September 2006 (199)
- August 2006 (182)
- July 2006 (184)
- June 2006 (140)
- May 2006 (200)
- April 2006 (166)
- March 2006 (154)
- February 2006 (105)
- January 2006 (74)
- December 2005 (119)
- November 2005 (132)
35 comments:
Did they before?
I am looking at buying 80 acres of forest and pasture where I live and had to deal with a completely ignorant lazy 6 percenter on the phone who theoretically is the salesman. He knew nothing about the property, told me to go and look at it myself and admitted his only contact with the seller was 15 minutes when he filled in the listing info on the computer.
If I buy this place (about 180 grand) this parasite will get 11 grand for his efforts. No way to avoid the prick.
Batman,
If it's on multiple listing, go to another broker. That'll cut his commission in half.
I fully intend to buy my next property through Redfin or similar if they are still around. If not, I will research other online discount RE broker services. I think it's still possible to find a helpful RE agent (Jim and bubbleinfo.com seems pretty decent), but I will certainly be a lot more critical if/when I interact with one; if I'm going to be paying 3% to an agent, they better be working for it.
Although the use of an RE Agent is sometimes a necessary evil, you can ease up on lining their pockets with easy $$$ and limit your exposure to fraud, by seeking out your own providers of title insurance, financing/appraisal, and inspection.The RE Agent should NOT be involved in ANY of these services.
Do not be steered to ‘their guy’, as there is likely an illegal kick-back in there somewhere that you will end up paying for either on your closing stmt or when the inspection/appraisal/title turn out to be way wrong.
http://www.youtube.com/watch?v=mjX6aKLy2N4
No way, I could never stand those punk ass bitches.
I never did trust a single realtor in my whole life. But millions aren't like us (I know--DUH!)
Here's one new and scary reason why that might be: A blogger at the Daily Beast (can't find the post again, alas) hypothesized today that the huge amounts of antidepressant drugs in the contemporary American bloodstream helped people override their natural caution, fear, and (apparently) math skills so they were prone to buy houses oh-so-stupidly.
Pharma-fueled mania might conceivably have helped millions to say the words, "I deserve the granite countertops" and sign their lives away without a second thought.
They're really gonna need those happy pills now. Realtors, too.
Not until they're on salary like myself. Maybe they'll all have to work for banks/US Government soon. 45k/year will start to look pretty good to those "professionals."
It is a shame that the bad one are taking down the whole industry.
http://www.mercurynews.com/
realestatenews/ci_10726353?nclick
_check=1
Prices, sales of Bay Area high-end homes may fall next year, Realtor group predicts
"The higher end of the market may be a little more at risk than in the past because of the question mark about jumbo financing," said Leslie Appleton-Young, chief economist for the California Association of Realtors, in an interview Tuesday, a day before delivering her statewide housing forecast for 2009.
Ever since the "credit crunch" began late last year, interest rates for "jumbo" loans — which currently means those of more than about $730,000 — have been significantly higher than rates for smaller, "conforming" loans, leading to fewer sales of expensive homes.
And as of January 1, because of economic and housing recovery legislation passed in Congress this summer, it's likely that the higher rates will apply to all loans of more than about $625,000, which may further chill the market for high-end real estate.
Continued stock market volatility could do the same, Appleton-Young said, or it could lead those wary of the stock markets to invest in real estate instead.
"There's a lot of unknowns now," she said. "That's the most honest way to say it."
"I fully intend to buy my next property . . ."
I hope you have enough cash, nick, cause no one in their right mind would lend you money.
.
Got a call from a P.I.T.A.(pain in the ASS) Realtor,
he called to tell my wife and me that a couple was coming to view the house that we looked at in early June,
as if we should run to put an offer on it before they do, if their is such a couple...there's not.
I think I'll call him in a month or so and ask him why the home is still listed! :)
.
Never.
noppers
I have been watching a forclosed home for about 8 months and it has finally come up for sale (overpriced!). I contacted the RE office and a lady I spoke with said the bank won't budge. She is not the listing agent but said she would keep me informed. She really has done nothing except email a few OTHER houses which I'm not interested in. A month later, they have come down (5%, which isn't much). I only found out because I check their website every day. We're thinking of making an offer this weekend (under what they're asking), but I wonder if I can make an offer without a RE agent. Will that just make the listing agent get the whole commission? Is there any way to avoid this??
*AGAIN*?!?!?!?!?
Who the hell *ever* trusted these greedy, two-faced, mendacious, arrogant, self-serving, condescending, petulant, self-absorbed, talentless, unethical, unskilled, lazy, lying, lecherous losers? (Yes, I had to stop myself....)
On the other hand, at least the Wendy's down the street is always well-staffed now. :-)
Yes, Carol, I'd like fries with that.
No, I'm not interested in buying a 3BR/2BA condo in Brentwood with "stunning city views."
Now shut up and get me my Coke. I SAID "easy on the ice", Carol!!!
Must I use an agent to make an offer? I realize the listing agent has done some "work" but if I've found an REO and watched it for 8 months and am ready to offer now that its for sale, can I make the offer myself? I really dont want to give an agent 3% of sale price just because they happen to be there when we walk in the office. . . .any advice on how to avoid?
I've used the services of a realtor to rent a house once. It turned out that she was a crook and the house was actually illegal.
Next time I have to use a realtor I'd rather circumvent them by contacting the owner or the realtor representing the owner.
Most of the MLS for the LI area is online with addresses and contact info. If I find something I like, I just have to contact the seller's broker.
Not that I'd want to. I'm a happy renter.
Hire only Realtors who can answer this question:
Which house is worth more to its owner, a 1400 sq ft paid for older home, or a 3000 sq ft McMansion that is in foreclosure?
I hope not. We don't need them. There will be realtors even in the future, but much less than today. Those realtors will offer relocation services for companies or helping people moving from afar. The rest needs just an inspector, a lawyer, and a car to buy a house.
.
How Realtors Destroyed the Economy - 1 Joanna at a time
.
CNN Ten Most Wanted: Angelo Mozilo
After the agent or the Broker tells you what their commission will be, tell them you will pay them 1/4 of that amount... don't EVER pay what the Broker or Agent is telling you to pay... tell THEM what you are willing to pay... now, they will balk and tell you how much work they do.. bullshit... the escrow officer and the escrow assistant are the ones doing all the work, send her/him a nice gift certificate. Take it from me, I know....
6% ers are DEAD.
....as if we trusted them in the first place!
.
DEAD REALTOR BOUNCE!
.
I have used (or not used) RealtWhores with great (or lousy) results. Mostly, in the past, it was a time and distance issue when I used a Realtwhore. Some were good; some were awful, just like everybody else.
Are they smarter than me, No! They just do what they do every day (or at least they used to) and are more experienced at it.
A "good" RealtWhore can save the day when unexpected problems arise in the sale. They want that 3-6%. Even the bad ones can come thru in a pinch. They also want that 3-6%.
I was looking at a gorgeous place out of state last summer. Nice quaint older town, low prices, not much in the way of services, but almost non-existent property taxes also (Very important to a retiree. Taxsylvania is rated fiftieth, out of the fifty states, by AARP as the worst state to retire in. Other factors are involved, but the outrageous property taxes shove the state “over the top” as it were, into last place.)
The RealtWhore called me later that day to say that other couples had been in to see the property, and that I should make an offer right away. If I wasn't an HP'er, I might have jumped. Compared to the prices and assessments, where I live, the owner was giving it away for next to nothing. But I didn't jump.
Got on the Internet yesterday, found the place, still for sale, at a reduced price. I wonder what spring will bring.
Would I trust even the "best" RealtWhore? Never!
Let's see...how long has the phrase "Caveat Emptor" been around? Well, it's in Latin, so I guess that means a while. Oh, but we don't speak Latin, so who knew?
YES, I would use a realtor again.
When the going gets tough and you need underhanded manipulation and misrepresentation to close on a property who else can you call on?
Another benefit is the situation when an inflated sales price appraisal from "their guy" is need to make the financing work.
In other words they know all of the tricks whether legal or not. Just know what you are dealing with going in.
Don't use a Realtor - get a license, and represent yourself. You'll save yourself a lot of emotional and financial trouble.
Realtors are scum of the earth.
YES, I would use a realtor again.
When the going gets tough and you need underhanded manipulation and misrepresentation to close on a property who else can you call on?
Another benefit is the situation when an inflated sales price appraisal from "their guy" is need to make the financing work.
In other words they know all of the tricks whether legal or not. Just know what you are dealing with going in.
October 18, 2008 4:14 PM
AND THIS IS WHY WE ARE WHERE WE ARE TODAY TOO!!!!
Keith? Could you give me an answer??
No. Never did. Never will. Diddo on car salesmen, stock brokers, financial advisors, and the rest of the sales "profession".
Market said...
Keith? Could you give me an answer??
Market, it will be nearly impossible to make an offer on a REO property without going thru the agent. The listing agreement insures it. Just do your own due dilligence and make sure you get it for the price YOU want and dont worry about his payday. He might be one of the few agents actually worth a $%&# and be of some kind of assistance.
Thanks, but I have watched an REO since December. Went to trustee sale twice. Came on to the market in September. Went to RE office to ask for listing agent. Another one said she wasnt there but she could answer questions. I asked a few and went on my way. 2nd lady has emailed me a few times with other listings, but told her i'm only interested in the one. I tried to contact listing agent again, and 2nd lady sent me a nasty email "I feel duped, YOU had me under the impression that I would be your agent". She has done NOTHING but answered a few questions and now she expects me to be committed to her to get 3% just because the listing agent wasnt in the office! I would just like to use the listing agent but now she won't even call me. I'm not in a position where i have to buy, just wanted to for the investment. They dont seem to want to sell.
Post a Comment