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- Lady Chattel
- Contributions:3110
Ugh......Vivianne.....my hub doesn't "do" the lawn boy thing, therefore I have had lawn service even when I owned the grass! So you saying that I am cheating myself of having to smell my own grass.......well, like K101 said.....if I own it or rent it....it still smells the same....but it sure is sweeter to smell when you know it costs HALF. A neighbor told me of a listing in the hood whose price seems to good to be true.......yes, a home that is equal to renting........must go check it out....you see Vivianne, that s my litmist test........and that is a TH price for a SFH.
- HomeSand.net, "White Picture"
- Contributions:4386
In my research, the ladies are writing much longer than men.
almost reads here like somebody just got a license, and is regurgitating the entire marketing class the brokerage had them sit through...
Vivianne, I think you are doing more than just mowing the "grass" ...
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:923
Lady,
You do have your priorities straight and this is admirable.
Our children should always come first - before a house, before an investment, or anything else.
The home you are renting makes a perfect sense for now - I am sure the day will come when you will want to smell YOUR own lawn, not your neighbor's lawn - AND you will want to MOW it YOURSELF, too, not just smell someone else's lawn!
It is simply UNFAIR not be even able to mow a lawn in the yard of the house one lives in!!!
UNFAIR, Unfair, unfair!
Oh, the smell of the fresh cut lawn......
Maybe this is why it takes a LOAN to cut one's own LAWN !
You do have your priorities straight and this is admirable.
Our children should always come first - before a house, before an investment, or anything else.
The home you are renting makes a perfect sense for now - I am sure the day will come when you will want to smell YOUR own lawn, not your neighbor's lawn - AND you will want to MOW it YOURSELF, too, not just smell someone else's lawn!
It is simply UNFAIR not be even able to mow a lawn in the yard of the house one lives in!!!
UNFAIR, Unfair, unfair!
Oh, the smell of the fresh cut lawn......
Maybe this is why it takes a LOAN to cut one's own LAWN !
"You are missing out on cutting the lawn - and, oh, that fresh cut lawn SMELLS SO GOOD!!!"
Riiight.
Anywho - you don't have to be the one cutting it to smell it (kind of the opposite of that thing they say in grade school). 8P
Riiight.
Anywho - you don't have to be the one cutting it to smell it (kind of the opposite of that thing they say in grade school). 8P
Methinks the Lady doth protest too much.
- Lady Chattel
- Contributions:3110
That is just it Sunny........they use these little code of ethics to tout themselves as abiding to a law and adhering to a higher authority (and often times we all have seen/heard them compare themselves to doctors and lawyers and how their services are so needed)........but they are unleashed on the public which is why the curent advertising campaign by the NAR uses the word INVESTMENT in its commercial.....should be outlawed.
Well, off to go enjoy this sunny gorgeous afternoon to start his long weekend.........while all my worker friends won't be home for hours.....and their daycare kids always look so sad when they come home and see that my kids have been frolicking so freely........it just pisses off the REAs that a renter can be happy and content.......
Well, off to go enjoy this sunny gorgeous afternoon to start his long weekend.........while all my worker friends won't be home for hours.....and their daycare kids always look so sad when they come home and see that my kids have been frolicking so freely........it just pisses off the REAs that a renter can be happy and content.......
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:923
Lady,
1) Not only that you have the FREEDOM to purchase or not to purchase, you also have the freedom to choose a REALTOR who puts YOUR interests FIRST and foremost..... perhaps this is the first and most important step in purchasing a home
2) I can assure you, I NEVER press my clients to purchase that home or another - It is always entirely their decision.
3) You are missing out on cutting the lawn - and, oh, that fresh cut lawn SMELLS SO GOOD!!!
1) Not only that you have the FREEDOM to purchase or not to purchase, you also have the freedom to choose a REALTOR who puts YOUR interests FIRST and foremost..... perhaps this is the first and most important step in purchasing a home
2) I can assure you, I NEVER press my clients to purchase that home or another - It is always entirely their decision.
3) You are missing out on cutting the lawn - and, oh, that fresh cut lawn SMELLS SO GOOD!!!
- sunnyview
- Contributions:25115
Oh, please. Agents can basically say what they want about value/affordability issues from what I have seen. Besides, even the enforcement of the "set in stone" housing discrimination laws on an agent to agent level is practically ZERO. Those laws are used to target mainly large rental organizations and do not work very well in patrolling those. They fall across much the same lines as the enforcing the lead paint disclosure laws. What you actually risk in most cases is a "No-No letter" in the mail asking for immediate compliance. Let's see a letter in the mail from enforcement or telling a client the truth when asked. I know which one I'd pick.
- Lady Chattel
- Contributions:3110
Oh, and Vivianne, please feel free to look up all the Keller Williams listings and see how many are agent owned.......................agents chewed on the same fat and yet they try to come across as all knowing and being the guide to home ownership.....and you know what is even more funny......the agents I know selling their homes for losses are planning to go right back in and buy another "cheaper" home but still buy nonetheless even while prices still fall.......chumps.
Vivianne that law is to prohibit REAs from racial profiling and showing certain ethnic/racial persons certain homes in specific areas more so than trying to tell a client not to buy something too freakin expensive. Though that is admirable of you to adhere to it for the financing aspect.
Vivianne that law is to prohibit REAs from racial profiling and showing certain ethnic/racial persons certain homes in specific areas more so than trying to tell a client not to buy something too freakin expensive. Though that is admirable of you to adhere to it for the financing aspect.
- Lady Chattel
- Contributions:3110
"it does NOT mean that the borrowers have to bury themselves in the debt by purchasing the MAXIMUM house possible"
Gee, I heard many times over the years "buy the maximum you can afford, you will always make more money in the future" by several REAs......REAs were also part of the game when they would personally contact and speak to appraisers (I have two friends who are appraisers here in VA) and since agents try to come across as all knowing they also find it easy to dispense advice which benefits them.......good bad or indifferent, when your income is dependant on someone jumping off a bridge.....you will push them!
Did you ever in the bubble years while helping a client into their dream with an asking price of $600K, that was only $350K 18mths prior, voice your thoughts that maybe it wasn't the best idea? You seem to have 20/20 now, but can you look at all the transactions in the past year and say that you didn't help someone into a home that they would essentially be leasees and loose it? Sure it isn't in your job description, but when REAs constantly hark about home being an investment and offer advice on the entire process about making the decision, somehow you cross the line and stop being just a house salesman. I don't buy a car cause of its investment quality, though I want to know I am buying a sound vehicle, I don't expect the salesguy to worry about how I finance it, or whether it will retain its value, and so he is just a guy helping handle the transaction..........but I have seen agents use NAR spreadsheets to show how homes double in value, and all the other Kook aid to justify them jumping off a bridge.........
Again, would you help me buy a home RIGHT NOW? I could certainly buy based on my income and other financial picture.
I rent a home I would otherwise not afford to buy.........so essentially I raise my standard of living by renting all the while living more financially free,..........
You know what is super funny right now.....watching the neighbor mow his lawn while my lawn is being cut by the landscaper......which I don't make the arrangements on.....ah, this is the good life.........
Gee, I heard many times over the years "buy the maximum you can afford, you will always make more money in the future" by several REAs......REAs were also part of the game when they would personally contact and speak to appraisers (I have two friends who are appraisers here in VA) and since agents try to come across as all knowing they also find it easy to dispense advice which benefits them.......good bad or indifferent, when your income is dependant on someone jumping off a bridge.....you will push them!
Did you ever in the bubble years while helping a client into their dream with an asking price of $600K, that was only $350K 18mths prior, voice your thoughts that maybe it wasn't the best idea? You seem to have 20/20 now, but can you look at all the transactions in the past year and say that you didn't help someone into a home that they would essentially be leasees and loose it? Sure it isn't in your job description, but when REAs constantly hark about home being an investment and offer advice on the entire process about making the decision, somehow you cross the line and stop being just a house salesman. I don't buy a car cause of its investment quality, though I want to know I am buying a sound vehicle, I don't expect the salesguy to worry about how I finance it, or whether it will retain its value, and so he is just a guy helping handle the transaction..........but I have seen agents use NAR spreadsheets to show how homes double in value, and all the other Kook aid to justify them jumping off a bridge.........
Again, would you help me buy a home RIGHT NOW? I could certainly buy based on my income and other financial picture.
I rent a home I would otherwise not afford to buy.........so essentially I raise my standard of living by renting all the while living more financially free,..........
You know what is super funny right now.....watching the neighbor mow his lawn while my lawn is being cut by the landscaper......which I don't make the arrangements on.....ah, this is the good life.........
- sunnyview
- Contributions:25115
"HOMEOWNERSHIP IS THE WAY OF LIFE!" Yes and people made the mistake of believing that to the tune of hundreds of thousands of dollars. Paying too much for a "way of life" is foolish. Buying a house should make good financial sense in far less than the 15-30 years that you suggest. Most people move in half that time so if you think it takes 15 years to see a benefit form homeownership then almost no one should buy. I don't agree with you. I think that carefully chosen property can be held for shorter periods than 15 years and still make sense and that finding value in your market make much more sense than overpaying for a lifestyle. You are right "REALTORS did NOT force the buyers to take all those risky loans and to purchase homes beyond their means", but they did happily sell them those homes without providing any guidance about the risk. I think the realtors should stay away from recommending investments anyway. If you don't agree, i would respectfully ask how many clients urged caution to when you found out they were buying with an ARM during the bubble. As a real estate professional, I would think that you knew that the values were unsustainable. Realtors did not create this mess, but many did participate in the process. I think that looking at truth and promoting buying strategies that help families build wealth long term is more important than selling the dream of ownership. You can own and benefit from the solid choice of a home that has good value.
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:923
Lady,Re-read the last few paragraphs in my last post.I wrote very clearly there that the federal government (Bush administration) FAILED honest, good people by not safeguarding the economy and promoting, forcing if necessary, FAIR to all consumers guidelines on LENDERS. Borrowers who took interest only, stated income, no downpayment loans should have been paying higher interest rate than traditional borrowers who put 20%+ and have good credit.
Putting ALL borowers into the same bag was the most cruel, UNFAIR thing that the federal government could have permited to happen - apparently, free-market does not have the ability to self-regulate itself after all.
Realtors do not make the economy and realtors do not approve the loans. I'm sure there are some bad apples among the Realtors who put "me" first - there are bad apples in every profession: doctors, lawyers, car mechanics, spiritual leaders, teachers, should I go on....
Lady, to answer your question, YES, I would want to know if you are Pre-Approved for a loan - this is the only way to know that you are able to purchase, to begin with.
However, I would show you ONLY homes in the PRICE-RANGE that YOU personally selected to see.
Just because a LENDER using 55-60% DEBT-to-INCOME ratio approved the borrower for, say, $600K loan, it does NOT mean that the borrowers have to bury themselves in the debt by purchasing the MAXIMUM house possible - perhaps $400-$500K home would be more within the comfort zone.
Realtors CANNOT refuse to show a home to the homebuyer because realtors "think" or "have a reason to believe" that a home in that price range is perhaps not a "good" choice for this homebuyer - doing so would be violating Fair Housing Laws, Code of Ethics, giving advice out of the area of REALTOR's expertise.
Such buyer could take a legal action for discriminating and Realtor could very easily loose a license.
The logic of that law is perfect - after all, who are the Realtors to tell homebuyers what home should they buy, in what neighborhood, for what price, and what is their financial status?
Putting ALL borowers into the same bag was the most cruel, UNFAIR thing that the federal government could have permited to happen - apparently, free-market does not have the ability to self-regulate itself after all.
Realtors do not make the economy and realtors do not approve the loans. I'm sure there are some bad apples among the Realtors who put "me" first - there are bad apples in every profession: doctors, lawyers, car mechanics, spiritual leaders, teachers, should I go on....
Lady, to answer your question, YES, I would want to know if you are Pre-Approved for a loan - this is the only way to know that you are able to purchase, to begin with.
However, I would show you ONLY homes in the PRICE-RANGE that YOU personally selected to see.
Just because a LENDER using 55-60% DEBT-to-INCOME ratio approved the borrower for, say, $600K loan, it does NOT mean that the borrowers have to bury themselves in the debt by purchasing the MAXIMUM house possible - perhaps $400-$500K home would be more within the comfort zone.
Realtors CANNOT refuse to show a home to the homebuyer because realtors "think" or "have a reason to believe" that a home in that price range is perhaps not a "good" choice for this homebuyer - doing so would be violating Fair Housing Laws, Code of Ethics, giving advice out of the area of REALTOR's expertise.
Such buyer could take a legal action for discriminating and Realtor could very easily loose a license.
The logic of that law is perfect - after all, who are the Realtors to tell homebuyers what home should they buy, in what neighborhood, for what price, and what is their financial status?
- Lady Chattel
- Contributions:3110
Nvchaz.......you are something else, if not for the vulgarity you are a purty funny dude.
So Vivianne, are you saying I shouldn't buy? If I was someone who walked into your office....would you ask me if I had financing, would you ask how much I am putting down..wouldn't you want to know that all your hard work finding me a home would actually result in me buying one, hence the reason for needing to know the financial picture. I have heard stories of REAs getting the shaft during their learning years from just such a thing.
Well, I am certain you sold many a home to many a buyer from 2003-2005. They were ripe for the picking. Many had to move here due to relocation and had no choice but to purchase at those inflated prices, and heck what did they know......but wait, they did have a choice, they could have rented since rents are HALF ownership rates and not put a choke on themselves. BUt they don't rent cause they buy into the NAR kool aid that you and others spew out about homeownership and personalizing the space and on and on. I moved back to VA in 2007 and the prices had come down some but two years later the prices have come down in my neighborhood (within the town of Leesburg limits I may add) to the tune of $100-200K declines. Even with a convential 20% down loan I would be holding a home that was underwater and if I had to move I would be lumped into the "sorry you got caught" category. Oh wait, that happened to me when I sold my home in 2007........to the tune of $100K....I licked my wounds and realized that purchasing a home was not the end all be all, that to save yourself from financial hardship it imperative, you need to research and crunch numbers and take the emotion out of buying a home (to a degree, nothing wrong with loving a home). I love the home I live in, my furniture flows seamlessly in it, the paint decor that was here is rather lovely and suits my decor as well. There are things I don't like about the house....but I find it easy to cope since I pay so little to rent it.
So Vivianne, are you saying I shouldn't buy? If I was someone who walked into your office....would you ask me if I had financing, would you ask how much I am putting down..wouldn't you want to know that all your hard work finding me a home would actually result in me buying one, hence the reason for needing to know the financial picture. I have heard stories of REAs getting the shaft during their learning years from just such a thing.
Well, I am certain you sold many a home to many a buyer from 2003-2005. They were ripe for the picking. Many had to move here due to relocation and had no choice but to purchase at those inflated prices, and heck what did they know......but wait, they did have a choice, they could have rented since rents are HALF ownership rates and not put a choke on themselves. BUt they don't rent cause they buy into the NAR kool aid that you and others spew out about homeownership and personalizing the space and on and on. I moved back to VA in 2007 and the prices had come down some but two years later the prices have come down in my neighborhood (within the town of Leesburg limits I may add) to the tune of $100-200K declines. Even with a convential 20% down loan I would be holding a home that was underwater and if I had to move I would be lumped into the "sorry you got caught" category. Oh wait, that happened to me when I sold my home in 2007........to the tune of $100K....I licked my wounds and realized that purchasing a home was not the end all be all, that to save yourself from financial hardship it imperative, you need to research and crunch numbers and take the emotion out of buying a home (to a degree, nothing wrong with loving a home). I love the home I live in, my furniture flows seamlessly in it, the paint decor that was here is rather lovely and suits my decor as well. There are things I don't like about the house....but I find it easy to cope since I pay so little to rent it.
I know quite a lot about Russian language and culture since I have been trolling for a Russian bride for about 9 months now.
What do you need to know, aznabob?
What do you need to know, aznabob?
pets.com stock is a long term investment. Keep it long enough, say 500 years, and you can sell the shares to a museum for tons of money!
I think I'm going to write posts about Russian language and culture. I don't know anything about Russian language and culture, But, I'm noticing lots of people who don't have a freaking clue about investing or finance writing about it, so why shouldn't I join in on the fun?
I think I'm going to write posts about Russian language and culture. I don't know anything about Russian language and culture, But, I'm noticing lots of people who don't have a freaking clue about investing or finance writing about it, so why shouldn't I join in on the fun?
Hi Phyllis,
Oh yeah, I love to flame.
Trouble is I'm not getting much action lately. I think I chased most of them away.
That happened to me last year on a Yahoo NASDAQ board, but they finally banned me.
Zillow is so forgiving, I love it! Offensive pix too! At least until the moderators catch up. A flamers delight!
This new one, Vivian, is really setting herself up for a torching but I've been kinda busy trying to get my house organised for the move that I hope will happen soon.
Having trouble with the close over a stupid pest report that is driving me nuts. Reno is so dry, there ain't no pests! But they want a vapor barrier in the crawl space and I want to do it for $75 in material but the bank wants a contractor to do it for $250.00.
Oh yeah, I love to flame.
Trouble is I'm not getting much action lately. I think I chased most of them away.
That happened to me last year on a Yahoo NASDAQ board, but they finally banned me.
Zillow is so forgiving, I love it! Offensive pix too! At least until the moderators catch up. A flamers delight!
This new one, Vivian, is really setting herself up for a torching but I've been kinda busy trying to get my house organised for the move that I hope will happen soon.
Having trouble with the close over a stupid pest report that is driving me nuts. Reno is so dry, there ain't no pests! But they want a vapor barrier in the crawl space and I want to do it for $75 in material but the bank wants a contractor to do it for $250.00.
- girouard property RE
- Contributions:981
NVCHAZ.... this was a post from 2 freakin' months ago.....what's wrong with you? are you now trolling for an argument?
Yes, a long one.
- Michael Emery, "MikeEmery"
- Contributions:7281
Wow
Somebody needs a nap!
Somebody needs a nap!
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:923
Lady Chattel,
The decision to purchase or not to purchase is ENTIRELY yours.
There are many home buyers who did purchase in those "diclining" years and they are glad they did.
They took advantage of the huge inventory of homes available on the market, they found a home they absolutly love and financed it at a low interest rate, they can decorate it and lanscape it the way it pleases them and not their landlord - what not to be happy about?
Real estate in a LONG-TERM investment. But most of all, it is more than just investment - it is a HOME and it should be approached as such.
Real estate goes through the phases the way the rest of the economy does. Also, Real estate is very LOCAL in its nature. Unless that "local" real estate is dependent on the "local" economy ( think automobile industry in Detroit) that is collapsing, otherwise it thrives with the rest of th economy.
Loudoun County was the fastest growing county in the entire U.S. at some point in 2005 - it would be unreasonable to expect that that growth would or should continue forever.
Sure, it would have been nice, for the sake of those who purchased homes during those 2003-2005 years, for the prices to at least stay at the same level .......however, let's face it, some buyers who purchased at that time are the REASON we are in the mess we are in.
Those buyers purchased wrecklessly more than what they could afford, way above their financial means, some lied on their loans, some were offered "generous" loan packages by lenders, BECAUSE some of those buyers thought/hoped/gambled that prices will continue to rise.......As the saying goes, what came up must go down.....
The 2004-2005 prices were artificially inflated by irresponsible buyers/borrowers and lenders.
Easy credit is only good in responsible hands.
It is unfortunate that in this whole process ONE group is often overlooked - the old-fashioned home buyer. The buyer who scraped pennies, brought brown-bag lunches from home, purchased used car etc. just to save the 20% for the DOWN PAYMENT because this is the way it was done for generations.
Now they are in the same short sale limbo with all the other "risk takers", and if they must sell (say, relocation) they face the same credit problems AND thy lost their down payment....
.... is anyone in the federal government paying attention, or does even care enough to pay attention.....
Obama Plan bails out everyone: the lenders, the insurance companies - but offers nothing to protect the honest homebuyers/borrowers.
The federal government, the Bush administration failed all the HONEST people by refusing to recognize the warning signs - despite being warned.
The decision to purchase or not to purchase is ENTIRELY yours.
There are many home buyers who did purchase in those "diclining" years and they are glad they did.
They took advantage of the huge inventory of homes available on the market, they found a home they absolutly love and financed it at a low interest rate, they can decorate it and lanscape it the way it pleases them and not their landlord - what not to be happy about?
Real estate in a LONG-TERM investment. But most of all, it is more than just investment - it is a HOME and it should be approached as such.
Real estate goes through the phases the way the rest of the economy does. Also, Real estate is very LOCAL in its nature. Unless that "local" real estate is dependent on the "local" economy ( think automobile industry in Detroit) that is collapsing, otherwise it thrives with the rest of th economy.
Loudoun County was the fastest growing county in the entire U.S. at some point in 2005 - it would be unreasonable to expect that that growth would or should continue forever.
Sure, it would have been nice, for the sake of those who purchased homes during those 2003-2005 years, for the prices to at least stay at the same level .......however, let's face it, some buyers who purchased at that time are the REASON we are in the mess we are in.
Those buyers purchased wrecklessly more than what they could afford, way above their financial means, some lied on their loans, some were offered "generous" loan packages by lenders, BECAUSE some of those buyers thought/hoped/gambled that prices will continue to rise.......As the saying goes, what came up must go down.....
The 2004-2005 prices were artificially inflated by irresponsible buyers/borrowers and lenders.
Easy credit is only good in responsible hands.
It is unfortunate that in this whole process ONE group is often overlooked - the old-fashioned home buyer. The buyer who scraped pennies, brought brown-bag lunches from home, purchased used car etc. just to save the 20% for the DOWN PAYMENT because this is the way it was done for generations.
Now they are in the same short sale limbo with all the other "risk takers", and if they must sell (say, relocation) they face the same credit problems AND thy lost their down payment....
.... is anyone in the federal government paying attention, or does even care enough to pay attention.....
Obama Plan bails out everyone: the lenders, the insurance companies - but offers nothing to protect the honest homebuyers/borrowers.
The federal government, the Bush administration failed all the HONEST people by refusing to recognize the warning signs - despite being warned.
- Lady Chattel
- Contributions:3110
OMG!!!! My REA with my first and second home did everything you say they don't do......give me a freakin break. In fact, I inquired about the purchase of my second home and together we decided I should wait another year....HIS ADVICE after having looked at my financial picture and my goals, and when I met the goal for my purchase he directed me to a mortgage guy and pretty much drove the entire process...........so trying to continually paint yourself as a innocent bystander is beyond belief. My REA knew exactly how I was financing my home too, even made suggestions along the way........your are something else that is for sure.
So, do you think Vivianne that I should buy a home this year? I live in your town, I rent in your town, we have a stable job with an income way hight than the county median of $106K, a FICO of 795, and I have about $35K in cash to put down.......Vivianne, can you in all honestly and in good faith advise me to buy a home in this market that is STILL DECLINING?????
Let me give you a hint
NONONONONONONONONONONONONONONONONONONONON
So, do you think Vivianne that I should buy a home this year? I live in your town, I rent in your town, we have a stable job with an income way hight than the county median of $106K, a FICO of 795, and I have about $35K in cash to put down.......Vivianne, can you in all honestly and in good faith advise me to buy a home in this market that is STILL DECLINING?????
Let me give you a hint
NONONONONONONONONONONONONONONONONONONONON
Note to Zillow:
Can we flag for bald-faced lying?
Can we flag for bald-faced lying?
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:923
Lady Chattel,
Keep NAR and REALTORS out of that disscussion - REALTORS did NOT force the buyers to take all those risky loans and to purchase homes beyond their means. As a matter of fact, REALTOR CODE of ETHICS is very strict and requires us to stay out of the direct finance area of expertise.Realtors are licensed to practice real estate - we provide facts and information (and marketing) - what buyers do with that information or how they finance their purchases is their decision. All REALTORS can do is to show them ALL homes that are available in their PRICE-RANGE on the market - this we are obligated to do by the LAW.
Financing is strictly between buyers and their lenders - do not even attempt to make REALTORS scapegoats here because it will not work. FACTS are NOT on your side. Borrowers and Lenders jumped on the easy credit and "liar loans" wagon and now we are all paying the price for it....but that, too, shall pass....
Going back to the original question - I can assure you that Northern Virginia Sellers who held their homes for 15+ years AND maintained them well are still selling for a PROFIT!
Even Sellers who purchased in 2002 are not loosing any money - UNLESS they kept taking the EQUITY out!
You cannot have it both ways - you cannot have a cake and eat it, too!BONUS - pay off your 30-yr mortgage in 15 years (it can be done if you are willing to sacrifise a bit for those 15 years, but it is worth it) AND live MORTGAGE FREE! Now who is laughing???
HOME OWNERSHIP IS THE WAY OF LIFE!
Keep NAR and REALTORS out of that disscussion - REALTORS did NOT force the buyers to take all those risky loans and to purchase homes beyond their means. As a matter of fact, REALTOR CODE of ETHICS is very strict and requires us to stay out of the direct finance area of expertise.Realtors are licensed to practice real estate - we provide facts and information (and marketing) - what buyers do with that information or how they finance their purchases is their decision. All REALTORS can do is to show them ALL homes that are available in their PRICE-RANGE on the market - this we are obligated to do by the LAW.
Financing is strictly between buyers and their lenders - do not even attempt to make REALTORS scapegoats here because it will not work. FACTS are NOT on your side. Borrowers and Lenders jumped on the easy credit and "liar loans" wagon and now we are all paying the price for it....but that, too, shall pass....
Going back to the original question - I can assure you that Northern Virginia Sellers who held their homes for 15+ years AND maintained them well are still selling for a PROFIT!
Even Sellers who purchased in 2002 are not loosing any money - UNLESS they kept taking the EQUITY out!
You cannot have it both ways - you cannot have a cake and eat it, too!BONUS - pay off your 30-yr mortgage in 15 years (it can be done if you are willing to sacrifise a bit for those 15 years, but it is worth it) AND live MORTGAGE FREE! Now who is laughing???
HOME OWNERSHIP IS THE WAY OF LIFE!
- Lady Chattel
- Contributions:3110
Vivianne, I know several agents working out of your office......go check the ones whose homes are for sale........talk about selling for a loss.......go ahead and tell them HOMEOWNERSHIP IS THE WAY OF LIFE!" Sadly those agents don't see what has truly happened to them cause they are still drinking the NAR kool aid.........
By the way, Vintage 50 sucks.......do you think it will stay open much longer now that the REAS don't have all that extra lunch $?
By the way, Vintage 50 sucks.......do you think it will stay open much longer now that the REAS don't have all that extra lunch $?
- Lady Chattel
- Contributions:3110
Excellent example Rob. To add to that and to illustrate the point further to Vivianne....If I were to purchase a home now in NoVA it would take 30 years for that home to be a better purchase than renting.........okay, read very slowly.......it would take 30 years for me to hold the home before I would have a home that I could sell and walk away EVEN on the purchase, so even if the home was paid off it may have taken half the time of ownership to regain the equity loss in the first decade and then to start building on that equity,and you have to factor all the costs to maintain the home over those 30 years, taxes paid, cause after all that is part of the investment (you don't maintain a stock like you do a house). I could for all intents be a renter for the next 30 years and come out further ahead than a person who buys a home.......I have done the math, and it seems that all my neighbor friends don't have enough money to contribute to a retirement fund.......how are they going to even keep their beloved homes if they are thinking SSI will save them.......oh, buy I digress.
I will buy a home when reality sits in and the home I rent is valued at the rent I pay for it as opposed to the pie in the sky prices of half million prices that don't correlate to incomes. I know what many people make......many of them live in homes that are obviosuly beyond their incomes......a REA helped them buy that home........why Vivianne, why.........I am sure you are not innocent of that which you admonish.
When I, a family who makes almost 2X the median income for my area can buy a home for a realistic price based on local incomes then the world is right......that time in most of America is not even close.
I will buy a home when reality sits in and the home I rent is valued at the rent I pay for it as opposed to the pie in the sky prices of half million prices that don't correlate to incomes. I know what many people make......many of them live in homes that are obviosuly beyond their incomes......a REA helped them buy that home........why Vivianne, why.........I am sure you are not innocent of that which you admonish.
When I, a family who makes almost 2X the median income for my area can buy a home for a realistic price based on local incomes then the world is right......that time in most of America is not even close.
- Randolph Leslie Smith, "RandolphLSmith"
- Contributions:156
Call Century 21 for re-location services.
We are an Army of Realtors spanning the globe.
Approximately 147,000 agents strong, 8,500 offices, 64 countries.
If you are serious, contact me I will arrange for a Century 21 agent who knows that market to contact you within 24 hours.
We are an Army of Realtors spanning the globe.
Approximately 147,000 agents strong, 8,500 offices, 64 countries.
If you are serious, contact me I will arrange for a Century 21 agent who knows that market to contact you within 24 hours.
Vivian:
Bet'cha you could teach me a thing or two about real estate, (snick snick)
Give me an email! Discretion assured.
[inappropriate comments, removed by moderator]
vivid imagination: , Realtors with your lack of ability to think said the same thing in 2006: its a long term investment.
Ok, buy a home in 2006, hold it for 30 years, and yes its up in value.
OR buy two homes today (phoenix is down 50%, so this would cost the same)
Hold your two homes for 30 years, all the while collecting rent on one...
Which strategy wins?
"this is economics 101" why do people without any concept of economics always say this? NOTHING in economics says paying more for an item makes sense "if you hold it for the long term"
For reference, search my post on here, OVER THE LAST TWO YEARS. Before Phoenix began its plunge, I predicted it. I also came on here, and told everyone the positions I took against countrywide stock, BEFORE IT PLUMMETED. I sold 4 investment properties before the peak, my understanding of econ is leaving me extremely well off, yours is well, better knows as rationalization
Ok, buy a home in 2006, hold it for 30 years, and yes its up in value.
OR buy two homes today (phoenix is down 50%, so this would cost the same)
Hold your two homes for 30 years, all the while collecting rent on one...
Which strategy wins?
"this is economics 101" why do people without any concept of economics always say this? NOTHING in economics says paying more for an item makes sense "if you hold it for the long term"
For reference, search my post on here, OVER THE LAST TWO YEARS. Before Phoenix began its plunge, I predicted it. I also came on here, and told everyone the positions I took against countrywide stock, BEFORE IT PLUMMETED. I sold 4 investment properties before the peak, my understanding of econ is leaving me extremely well off, yours is well, better knows as rationalization
can I find a relocation agent in Ashburn, VA
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