Roberto Ribas's Discussions

Randy:I am not sure what the SEC, securities exchange commission, would have to say about real estate. We aren't selling securities, so their rules don't apply, its apples and oranges.Realtors, are bound by the "code of ethics" and their state's commissioners standards. As a side note, I have never had a client ask me if it was a great time to buy. In fact, over the last years, my close friends have insisted on buying through me despite me sending them to www.patrick.net, drhousingbubble.com, and giving them constant warnings we are in a bubble. Nobody paid me any attention then, so I am quite sure if I start yammering about it being a great time to buy they will ignore that too!

long island bubble: except for fraud cases, one person's incentive is another's necessary repair. If the seller offers, $4000 for new flooring, thats an incentive. If I convince them to change the hideous 20 year old carpet and linoleum from my grandma's era, then its a needed repair to an outdated home. Your example is silly, because, at least here in AZ, seller paying closing costs would be about 3% of the home price, when your flat screen for a pencil would be a 10000% incentive... if you give somebody a penny to buy your pencil, how much will that cause a pencil bubble to suddenly form?

You should do your research first, or work with an agent who has experience with shortsale/ foreclosures.But, by the way: when the first forecloses, proceeds will go in order to each lienholder until that lienholder is paid completely, then on to the next.unpaid real estate taxes go first, then first mortgage,second, third etc... (and the order is by date recorded, not something it says on the note)If (rarely) there is money left over after all lienholders are paid, that goes back to the foreclosed owner.

Really long time, and the glaciers will all melt and, so your home will be under water! wait a minute, many of them are under water already!!!!reseach Japan, denmark, etc see how long it took there prices to come back. Last downturn in LA took what, 9 years to return?.... Don't listen to agents who need a commision check today

I agree I am my customer's (not my client) fiduciary agent. Customer, if I am the buyers agent, is the buyer, sellers and other interested parties are clients... However, the customer decides when where and why to buy, I am really not a party to that decision. Then I help them to the best of my ability.Even disregarding future markets, I have had buyers pick what seem to me to be the worst/ugliest/least likely to appreciate home out of all the homes I have shown them; I try at least initially to give them my opinions why not to buy that house. (It is on a busy street that might get widened as this part of town gets built out, the empty commerical lot behing you could get a tire store and you will listen to powertools early every morning, etc etc) You know what? it is an emotional decision, and they always ignore me anyways!If anyone ever asks me will it go up or down, I give them my honest opinion, which for the last 2 years has been that prices are way above historical norms... Have yet to see that stop anyone from buying.Let me put it to you another way: my brother just bought a shelby ford mustang, because he is convinced it will become a collectable car and go up in value. Ford is a publicly traded company, thus you are saying that car salesman saying, "yeah shelbys are rare and go up in value" should now fall under the purvue of the SEC????Randy, randy randy, you are smarter than that!

Hmmm, I like the new york times rent/buy calculator! A bit complex, but you can factor in everything like marginal tax rate, inflation rate, return on your investments and so on. Its the best I have seen so far, and was featured on www.patrick.net a while back.

Well, hey Dan, if you can't trust the local realtors then who can you trust? By the way, I just went to the local mercedes dealership, and the local agents there said the same thing! it's a great time to buy a mercedes!Then I stopped at a timeshare, and the sales guys there, also licensed, said it was a great time to buy a timeshare! and then i went to a nice bar, and they said it was great time to buya drink! So now I am drunk, driving my new mercedes and I can't wait to go to my timeshare!!

I saw what a true liquidity crisis can do, 10 years ago, when I had a 6 month consulting contract in caracas venzuela... Yes some people can afford to keep their houses and wait, some rent them out, but some walk and the bank sales set the price. I am not saying that home prices here will suffer anything like what I have seen in other economies, but to say they can't or won't is just whistling past the graveyard.

pinks seems quite confused; IF you want to sell your home, people will have to see it! In todays market with a zillion homes for sale, go ahead, don't let anyone in, don't use a lockbox. after all, its not like there are any other homes for sale! When i have a buyer interested in a home which the seller is making very difficult to see, we wait several months and then lowball away... Who cares if his firm is no-name pink? just because someone is smart enough not to give away 30% or more of their income for some fancy business cards, says nothing about his or her ability to sell a home.

I usually leave a card; Then other agents call me for feedback. Here is a tip newbies: if we were interested in your home, we would send an offer. Period. Calling for feedback is a waste of time. Besides, after showing a bunch of homes in the phoenix heat, all in a subdivision that look the same, do you think I have any idea which one yours is?? of course not! I will NEVER call another agent for feedback on one of my listings... NEVER. If they were possibly interested, grovelling for feedback shows desperation to get a deal, and nothing good will come of it.Leave your cards if youwant in my listings, i look through them to see how many people I know. Then i give them to my dog to hold and he chews them up!Pinky, you seem like a ridiculous whiner, i am glad as hell i am not your agent; on another post you are bothered by agents looking at your house, then your bothered if they don't leave a card... why don't you find something important to worry about? Like does your house show well? is it priced competitively? Could you make it easier for people to see? hmmm... I hope this isn't a "must sell" situation or I smell disaster