Straight Talk

What do you mean you can't get it out of the professionals? Obviously the inventory plays a key role in declining prices. I think any professional would tell you that.

Dont know who you talk with but I am a no frills, to the point, non sugar coated Realtor. Tell the truth, that's what my mama taught me..;-)

If you are talking about rental companies not lowering their prices then I dont know. Maybe they know something I (and everyone else) doesnt. I have seen some rental companies offering some good specials this Fall.....

Both professionals and the man on the street will tell you an inventory glut is a major contributing factor.

As far as this person's "straight talk", it's all dependent upon your personal interest - they are renting a unit and using the "glut" to justify their pricing so you don't think it's cheap because it's a POS.

"Straight Talk" ala The St Pete Times:


"Tampa Bay area home sales keep probing new bottoms. September's totals were off 39 percent from the none-too-spectacular sales of September 2006.

That part about probing bottoms sounds proctological, but the market is about as savory as a barium shake. "

.

"Straight Talk" ala The St Pete Times:


"Tampa Bay area home sales keep probing new bottoms. September's totals were off 39 percent from the none-too-spectacular sales of September 2006.

That part about probing bottoms sounds proctological, but the market is about as savory as a barium shake. "

.

GOTTA love them barium shakes....:shock:

Of the responses:

(2) "real estate proffesionals" did NOT use the word "glut."

(1) "man on the street" did use the word "glut"


Come on, guys: the cat is out of the bag.

It's a GLUT

Expand your vocabulary

"Perceived market bottom found to be top of enormous sink hole"

Of the responses:

(2) "real estate proffesionals" did NOT use the word "glut."

(1) "man on the street" did use the word "glut"


Come on, guys: the cat is out of the bag.

It's a GLUT

Expand your vocabulary

Great response.

"...Great response. ..."


Thanks.

I make an effort to be entertaining.

You know, about (2) weeks ago I signed a
one year buyers agent agreement with an agent, which
replaced an expired one buyers agent agreement
I had with her.

I have purchased property through her before but not
since 2004. She is located in a area a couple hundred
miles from where I live so I can't really watch the market in
that area. She knows what I am looking for if and if something
hits the market I get notified

I can count on getting the straight story from her.

Here, I post a simple request for Bobby J to provide a
few more details on a property he/she brought up, and I
get nothing but grief.

And I see where PAG is a bit slow in providing answers to
questions as well.

Oh, well, I'm just the little guy.

For now

I don't see anything about any houses in here. Are you referring to another thread?
I highly doubt Bobby J. would ever consider you the little guy. He's a class act from everything I know about him.

Hey Cap, if your really in the mkt...Why don't you put your parameters and the realtors contact info on the board and see if one of these agents can find something for you?...Red

"Hey Cap, if your really in the mkt...Why don't you put your parameters and the realtors contact info on the board and see if one of these agents can find something for you?...Red"



Fair question.

And when I think that the market has "bottomed-out" I may
do that.

Asumming that I have not already "shot my wad" buying something
else somewhere else.

But most of the real estate people who post here seem to spend
most of their time engaging in commenting on how great each other's
listings are, and how they are such great deals. Blah blah blah.

I can handle only so much of that.

Quantify "bottomed out"...Sounded to me like you were ready to go

"Quantify "bottomed out"...Sounded to me like you were ready to go ."



I can't quantify it.

But When I see it I will know it. We are not there yet.

When the right deal is there, I will pull the trigger.

I realize you believe the agents here are "crooked" but what's the harm in throwing out type, price, location, agent's info and get the ball rolling...I'm sure if your agent is an "ace", she'll be able to sift thru the crud on your behalf...You never know, the perfect plot may be out there waiting on you and your agent misses it cause of ethics training...Seriously, post your parameters...

For God's sake, forclosures are up 4fold from YTD06 to YTD07...that's huge...According to MMT, they're up from 6 to a massive 23 units

Oh well I guess if you can't quantify it, you'll know it when you see it...Cheers

"...For God's sake, forclosures are up 4fold from YTD06 to YTD07...that's huge...According to MMT, they're up from 6 to a massive 23 units..."




I see little to indicate that foreclosures will not continue to increase.
There are many many ARM's out there that have yet to reset, and even
once they do reset, most people can keep the wolf from the door
for a few months, usually by transfering debt to credit cards or maybe
by borrowing from their 401K:

http://www.nakedcapitalism.com/2007/10/new-consumer-funding-source-401ks.html

Talk about borrowing from the future to pay for the past...

So I don't see a peak in foreclosures quite yet.

I was content to wait 3 years now since my last purchase- I
can wait a bit more.

"...I realize you believe the agents here are "crooked" ..."


Forgot to comment on this;

I don't necessaily think real estate agents are "'crooked,"
but their best interest does not always mesh with the buyer's best interest,
and the nature of the agent/client relationship does not always
make that clear.

And I especially take issue with those real estate professionals who
find fault with my motives. Everyone involved in real estate, from
agents to appraisers to loan officers, etc. made lots of money during
the boom times when many many buyers got in way over their heads.
While I do not absolve the buyers of their responsiblity to look out for
their own interests, most in the real estate business were content to
profit from this situation. Few turned down business or spoke out
loudly against the abuses (although all claim to never have participated
in a bad deal)

For someone in the real estate business who profited from the creation of
the mess, to now criticize me for attempting to profit from the unwinding
of the mess is, in my opinion, hypocritical.

Personally, I have no problem with agents looking our for their own interests,
as long as they have no problem with me looking out for mine.

Live and let live.

"...I realize you believe the agents here are "crooked" ..."


Forgot to comment on this;

I don't necessaily think real estate agents are "'crooked,"
but their best interest does not always mesh with the buyer's best interest,
and the nature of the agent/client relationship does not always
make that clear.

And I especially take issue with those real estate professionals who
find fault with my motives. Everyone involved in real estate, from
agents to appraisers to loan officers, etc. made lots of money during
the boom times when many many buyers got in way over their heads.
While I do not absolve the buyers of their responsiblity to look out for
their own interests, most in the real estate business were content to
profit from this situation. Few turned down business or spoke out
loudly against the abuses (although all claim to never have participated
in a bad deal)

For someone in the real estate business who profited from the creation of
the mess, to now criticize me for attempting to profit from the unwinding
of the mess is, in my opinion, hypocritical.

Personally, I have no problem with agents looking our for their own interests,
as long as they have no problem with me looking out for mine.

Live and let live.

Pardon me Capricious, but didn't I see you posting in the past about mortgages as if you were in the know? (which frankly I found your "knowledge" an overstatement.)
If you were in the biz, as it appears since you had links to subprimate message boards that required logging in and a password, that had threads about where to place that next subprimate deal, then I suppose you got into to for philanthropic reasons. :roll:

Everyone involved in real estate, from
agents to appraisers to loan officers, etc. made lots of money during
the boom times when many many buyers got in way over their heads.
While I do not absolve the buyers of their responsiblity to look out for
their own interests, most in the real estate business were content to
profit from this situation. Few turned down business or spoke out
loudly against the abuses (although all claim to never have participated
in a bad deal)

For someone in the real estate business who profited from the creation of
the mess, to now criticize me for attempting to profit from the unwinding
of the mess is, in my opinion, hypocritical.

Live and let live.

Why are you backing off calling these agents crooked...Your own word was "Everyone"...It sounds more like an indictment than "Live and let live"

Addl'ly, your "profit motive" seems even less clear than your "mysterious bottom call"...Unless its just to whine about your bankruptcy filings and layoffs - thats not really profitable

Seriously, if its not "Everyone" post your parameters and let see if one of these fine agents can find you a property...

"...Great response. ..."


Thanks.

I make an effort to be entertaining.

You know, about (2) weeks ago I signed a
one year buyers agent agreement with an agent, which
replaced an expired one buyers agent agreement
I had with her.

I have purchased property through her before but not
since 2004. She is located in a area a couple hundred
miles from where I live so I can't really watch the market in
that area. She knows what I am looking for if and if something
hits the market I get notified

I can count on getting the straight story from her.

Here, I post a simple request for Bobby J to provide a
few more details on a property he/she brought up, and I
get nothing but grief.

And I see where PAG is a bit slow in providing answers to
questions as well.

Oh, well, I'm just the little guy.

For now

Cap,

As I stated earlier I have no need to pull any "work" for you. You come off as a complete moron on this site and I do not work for morons. We all know the market is bad and every time someone tries to post a little positive info you go trashing them. I am not going to look at 690 sales one by one for someone that is going to dissect each sale and accuse me of deceit. You are the type of buyer that would not know a good deal if it slapped you in the face. You keep on your doom and gloom pace and I will keep on selling RE in one of most special places in the world.

"Pardon me Capricious, but didn't I see you posting in the past about mortgages as if you were in the know? (which frankly I found your "knowledge" an overstatement.) "


Everyone's a critic


"If you were in the biz, as it appears since you had links to subprimate message boards that required logging in and a password, that had threads about where to place that next subprimate deal, then I suppose you got into to for philanthropic reasons."



I can assure you that I was never in the mortgage business and the
only lending I have ever done was a very few (2 or 3) privately-placed deals.

One of which I had to forgive some interest on in order to get out of
it. Should have just taken the property. 3+ acres of Mississippi
River front land.

I probably should have gotten into the business, however. Would
have made considerably more money while the good times lasted.

Especialy since I like people so much

(They taste just like chicken)

"...Why are you backing off calling these agents crooked...Your own word was "Everyone"...It sounds more like an indictment..."


I did not use the word "crooked."

If a "professional'" is involved in putting together a deal that
they know, or should have known (considering their knowledge
of the business) was doomed to fail at the expense of the
buyer, are they under any obligation to stop that deal?

Even if there was no legal obligation, should they stop that
deal on a matter of moral principle?

You decide

That's an insult to morons everywhere!

"...I realize you believe the agents here are "crooked" ..."


Forgot to comment on this;

I don't necessaily think real estate agents are "'crooked,"
but their best interest does not always mesh with the buyer's best interest,
and the nature of the agent/client relationship does not always
make that clear.

And I especially take issue with those real estate professionals who
find fault with my motives. Everyone involved in real estate, from
agents to appraisers to loan officers, etc. made lots of money during
the boom times when many many buyers got in way over their heads.
While I do not absolve the buyers of their responsiblity to look out for
their own interests, most in the real estate business were content to
profit from this situation. Few turned down business or spoke out
loudly against the abuses (although all claim to never have participated
in a bad deal)

For someone in the real estate business who profited from the creation of
the mess, to now criticize me for attempting to profit from the unwinding
of the mess is, in my opinion, hypocritical.

Personally, I have no problem with agents looking our for their own interests,
as long as they have no problem with me looking out for mine.

Live and let live.

live and let live.......that's the key. You are mistaken that your interests are in conflict with others. They can line up if you can be civil. It's your call. Personally, you seem to be parroting Shelley's posts, as if it's all payback. I suspect it's too tempting to keep ringing that bell.

"As I stated earlier I have no need to pull any "work" for you. You come off as a complete moron on this site and I do not work for morons."


Name-calling by real estate agents seems to be common-place
in the panhandle.


" I am not going to look at 690 sales one by one for someone that is going to dissect each sale and accuse me of deceit"



For about the 3rd time, I only asked for info on the one property that
you injected into the conversation. When you refused to futher
elaborate on that one property then what is one to think?





Regardless, you go on your way and I'll go mine. I will not
be responding to your posts further.