Real Estate Brokers not in touch with Reality!
by godfather
Apr 30, 2013 | 2381 views | 2 2 comments | 49 49 recommendations | email to a friend | print | permalink
April 30, 2013 Real Estate Observation. What happened to asking prices in Middle Village since this past December 2012? Go to any of the Realtors sites, or MLS, or call the number on any sign on an Owners Lawn. Experience going to outer space without leaving the ground.

Two homes, Brick, townhouses, with three bedrooms sold and closed at the end of the year that needed work, & both were under $445K. A two family that needed work sold under $460K. All three homes were either off the park or just two blocks away.

So why is it, these same type of homes, and those without yards at all off Eliot Avenue, are in the ranges of $625 to $775k  today?

Illegal bathrooms, and kitchens in a walk in apartment of a 2 Family, which is the way these homes were built 30-50 years ago, are declined by banks in attaining mortgages, as one homeowner just told me last night.

But getting to the current for sale homes, near the park, off Eliot Avenue, who is going to buy at these prices?

Leaving out the address of a Detached one family with 4 bedrooms, on a big lot, two level home, to close soon, with huge grounds, sold for $625k..........Friend of mine gave me the details.

So again, if this was recently sold and closing in May, at this price, where is the justification for the asking prices of so many homes in Middle Village today?

REALITY-LOW MORTGAGE RATES AND A REAL PROFESSIONAL APPRAISAL SHOULD BE ATTAINED BY HOMEOWNER'S, WHETHER YOU GET THREE VERBALLY, OR ONE IN WRITING BEFORE YOU SELL A HOME.
If you want to sell this year, while buyers can get low rates, then the asking price must be realistic, & at current market value. Otherwise, week, after week, goes by, needlessly. And if you home is still for sale longer than 4 weeks, something is really wrong! Of course you can stand your ground, and get ready for Summer, which is around the corner, and traditionally buyers go on vacations then. But you would have to try again in the fall before Winter comes, while you stand that ground and wait for your Real Estate contract to end to. Putting it in the simplest of examples, you can not sell a half gallon of milk for $5.00 dollars? 

WAKE UP AND SMELL THE ROSES. OR MISS THE LAST OPPORTUNITY BEFORE RATES SHOOT SKY HIGH! THIS IS FOR OWNERS AND A FEW BROKERS.

 
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brokersshouldretire
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May 01, 2013
addressing the 3 bedroom home off eliot with no yards at about $725k asking. I think you mind as well ask for $1 million while your at it.

Time to retire. If you can't take a listing at a realistic price its time to hand in your license.

Without mentioning Realtor names, one in particular has had signs on properties for years now. The prices may be out of whack, but it sure looks like he gets the listings in the neighborhood,right?

What good is it, if they can't sell the home because of the idiotic unrealistic asking price. I happened to speak to an agent from that office, and he is always complaining. No customers, people can't afford the homes, and he is disgusted. So I asked but you have so many house listings? He replied so what good is it.

If owners tell you what price to listing at, you have to agree in order to get the listing.

This is an injustice, and if realtors can not stand on their own 2 feet, using their experience and knowledge, to convince a homeowner where the price should be in fear of loosing the listing.

The question to owners should be, as a professional, with showing you comparable, similar homes that recently sold, and you want above and beyond the norm, then I can not in good conscience take your listing.

Next to follow a list of current homes for sale with prices to show everyone how ridiculous the asking prices are.

Of course when i post them, you will find out what Realtors are involved to. Shame Shame!
godfather
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April 30, 2013
SOMETIMES THE OWNERS, OR ESTATE REPS OF THE PROPERTY DICTATE TO THE BROKER OR AGENT, WITH PRICES.

However, using the date of death appraisal should determine the proper asking price.

If it is the actual owners setting the price, that is incorrect right from the start.

It is the Brokers job to correctly place the right asking price and establish a selling range with an owner. They are experienced & are the professional ones to take charge with all aspects of selling the home.