Why do renters hang out on Zillow...

....why do so many renters hang out on Zillow when its a buyers/sellers site?

 

 

  • April 05 2008 - US
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Answers (49)

Walter why are you attacking people this morning? Is it other's fault the wifey did not deliver the goods last night? Im flaggin you you flaggit.

  • April 05 2008
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hmmmm - maybe we should do rental listings ... actually, we will, but it's going to take a while to get there.

  • April 05 2008
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Profile picture for LongIslandBubble

Why is this on the buyers board? This should be in mixed bag!

  • April 05 2008
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Profile picture for Webster3

Aren't some renters eventually buyers? They are just waiting for the market to correct itself and get opinions from others about what the market is doing in different areas of the country. I don't think it's strange they are on here. Maybe some need the confirmation they should stay put until it really is the right time to buy instead of the NAR commercials telling them it is the right time to buy.

  • April 05 2008
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I think webster hit the nail on the head. Renters become buyers! See ya on the other side Doomers!

 

SoCal dont drag me into your personal problems my man! lol

  • April 05 2008
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Profile picture for jimmy57

Why do so many house-holders with ridiculously high "wish prices" hang out on Zillow?  They aren't actually "sellers,"  are they?  Maybe they shouldn't post until they at least have an offer.

 

Sarcasm off.

  • April 05 2008
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Dave...great

  • April 05 2008
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"Why do so many house-holders with ridiculously high "wish prices" hang out on Zillow?  They aren't actually "sellers,"  are they?  Maybe they shouldn't post until they at least have an offer."

 

Booyah!

 

Man what a dumb topic. 

 

 

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Profile picture for . . .

OK Jimmy, since you asked....

(Even though I've already answered the question at least 20 times on Zillow...)

 

Various obligations prevent me from moving a this time; but if someone offered me a ridiculously large bribe to take my house, how could I refuse?  I would find someplace else in the area to move temporarily.

 

Eventually I do want to buy elsewhere and move, which would require selling at that time; but other than a few specific criterion, I have no idea where.

 

There are 2 things that brought me to Zillow:

1) Needing estimated values of various properties for some forms I'm required to fill out... I eventually got appraisals as I'll need documentation to back up the numbers used in the forms.

 

2) Two foreclosed properties in the neighborhood, boarded up.  I wanted to create enough interest in the area that the two houses would be cleaned up and sold.  Both have been completely refurbished now, both are on the market, and I believe one of them is presently in escrow, thus the goal was almost completely met.

 

One other thing that has kept me is an interest in eventually starting an internet business, and wanting to have some idea how page-view and internet marketing works.  Being able to track the page views on my house and selected other houses has helped to see how page placement and other factors affect viewing rates.

 

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Profile picture for jimmy57

pasadenan, if you re-read my comment, you will notice that I was being facetious.  Everyone and anyone -- including yourself --who is interested in these topics (and abides by zillow rules of conduct) should be welcome on zillow boards, IMO.

  • April 05 2008
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Profile picture for klarek the realist

Back when the buyer's forum first started, it was overrun with greedy realtors and flippers trying to coax people into buying overpriced houses.   Fortunately that is no longer the case.

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Profile picture for . . .

But to answer Walt's original question, I believe Webster is correct, most people will buy eventually, and those that are posting that it is not the right time to buy are actively looking to predict when the right time to buy is, and are also actively looking for a house that meets their economic criterion.  It is not clear if they will stop posting on Zillow after buying, but my guess is they will not since if it becomes cheeper to buy then to rent, they may be looking for purchasing rentals to make some additional investment income.

 

Still, all indications are that the market in general will not bottom out this year.  Perhaps 2 or 3?  It primarily depends on government action, rate of foreclosures, stability of the financial institutions, foreign policy, the exchange rate, and inflation.  Model all that in a good computer program and you may have some idea of the possibilities, but Murphy indicates the government will always do things in a worse maner than anticipated.

 

 

 

  • April 05 2008
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We come for wisdom, seeking information to give us a reason to stay put or jump in.  

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Profile picture for Webster3

Wisdom? You're right 3girls. I've learned a lot. Never knew what tea-bagging was.... :-)

 

Seriously, whether you agree with someone's point of view or not, it is eye opening to what is going on in this crazy market in all parts of the U.S.

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Certainly basic math is what keeps me from buying a home right now.......I think I enjoy the endless entertainment that the cheerleaders and some of the drive by REAs who come here to convince people to take the hit so they can keep their jobs.   And if we can keep one person from buying after posting info that says "NO" then all is right in the world.  

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Profile picture for BuyEqualsRent

I'm a buyer who just happens to be renting until buying makes sense again.  I've owned a house before and I will again, just not right now.

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Profile picture for subwayvigilante

Another factor - studies show that renters are cooler than homeowners.

 

  • April 05 2008
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LMAO......that was hysterical!

  • April 05 2008
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Profile picture for jimmy57

Good stuff.

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Profile picture for Mr. Dingle L. Berry

"We come for wisdom"

 

Yes indeed.  I had never heard the term "Crotch fruit" before coming to this site.  It is always good to increase the vocabulary, wordz is powful ting mon!

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Profile picture for Mr Caveat

I don’t think there are many people who have rented their whole life and come out better for it. every argument against buying is 3 fold

 

1) short terms, why pay 6% plus interest if you aren’t getting the opportunity to appreciate

2)bad risk people who are likely to lose a down payment due to not paying each month or cant afford a down payment has no business owning.

3) affordability, when interest + principal beats renting by 50% each month, you cant say that "the time to buy is now"

 

i cant say i know many people(aside from total losers who couldn't read zillow if they wanted to) to whom any or all of those situations haunted them through their whole life. buying a home gives you a place to invest your money over time that is non-taxable and guaranteed not to lose pace with inflation(based on realistic value/price ratios) through different stages of your life, different lifestyles make more sense, but if you go ahead and buy a million dollar house without learning what you are trying to do, you I blame for all of your misfortunes...  way to go for coming to zillow to broaden yourself BEFORE it was necessary!

 


  • April 05 2008
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Profile picture for 2 Big 2 Fail

"I'm a buyer who just happens to be renting until buying makes sense again."

 

No your not. Your a buyer just like I am a British prince. 

  • April 05 2008
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--affordability, when interest + principal beats renting by 50% each month, you cant say that "the time to buy is now"--

 

have fun waiting for that one to take place or living in the getto to do it!

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Profile picture for Mr Caveat

no, its not, that is to say hasnt been uncommen in most non super-inflated markets to be able to rent and buy at a fairly close price gap( less than 25% more/month) though aperently not in NJ... certainly in most suburbs though. in fact there are places where rents cover mortgage completely, so dont think that your market is indicitave of all real estate.

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Profile picture for Mr Caveat

no, its not, that is to say hasnt been uncommen in most non super-inflated markets to be able to rent and buy at a fairly close price gap( less than 25% more/month) though aperently not in NJ... certainly in most suburbs though. in fact there are places where rents cover mortgage completely, so dont think that your market is indicitave of all real estate.

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Profile picture for Mr Caveat

no, its not, that is to say hasnt been uncommen in most non super-inflated markets to be able to rent and buy at a fairly close price gap( less than 25% more/month) though aperently not in NJ... certainly in most suburbs though. in fact there are places where rents cover mortgage completely, so dont think that your market is indicitave of all real estate.

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let me get this straight....your saying when you can buy at 1/2 the price of rent?

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"I'm a buyer who just happens to be renting until buying makes sense again. I've owned a house before and I will again, just not right now."

Ditto

 

Nice chart, Subway.  8)

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Profile picture for Randy_H

I'll buy when I can do so at least better than 3x my current rent.  lol.  I'd prefer about 1.5x.  When I rented it was originally for 6 months while we figured out where to buy, and for the first 2.5 months we hadn't sold our previous home yet anyway.

 

One thing led to another and now we're perpetual buyers.  I've made 3 offers in the past 2 months.  Does that count for membership to this clubby little forum you imagine as it should be?  Or are you suggesting that it should only be well behaved little drone buyers asking inane questions like "please, someone help me! how much should I overbid when my realtor tells me there are other offers?"

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Profile picture for BuyEqualsRent

Considering I could buy your house straight cash without blinking Alpine, I think I qualify as a buyer.

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