brtlmj's Discussions

Yay! An update. But... everything seems to have changed, including history! What is going on?

Sellers need to get enough money to pay for their next house. I am sure that many sellers would gladly sell for 50% or less of their asking price if they could expect their sellers to do the same. Those upgrading would actually be happy. Prices are coming down, but slowly - because BOTH sides are mostly rational. Then, of course, are those who want to get as much as they owe... good luck, guys.

Yeah, and today's sellers think their houses are being "stolen". Then don't know how lucky they are...

Well, it seems that the old Zestimates not only were unreliable in respect to individual properties, but they also did lousy job of capturing trends in larger areas. That's sad.

"There is a definite price floor..." The mythical floor Hovnanian thought they established during their "sale of the century"? ;)

The nice thing about stocks and bonds is that you can dollar-cost average your purchases. When buying a house you lock in your price. Same when selling. In that respect RE market is way more volatile than stock market :)

Look at all existing and future problems and decide what the house it worth for you. Then offer this amount. Of course, they may think that the roof problem was already priced in. That's how free market works :)

"It doesn't matter how long the we are at the bottom, the fact is it cannot be forecast or identified until prices rise above it." True. But I can easily tell if prices are reasonable or not. Right now, they aren't even close to "reasonable".

"But the majority of what I'm reading here is people looking for a 300k house for 150k... and I'm saying in most cases that isn't reality, because there hasn't been that kind of appreciation in most markets, so those kinds of discounts aren't warranted." Most cases in terms of... what? Area covered by those markets? This might be true, there's lots and lots of flyover land. But in terms of population, I would not be so sure. In my area, prices have almost tripled since y2k. I am certainly looking for a 50% discount off peak prices, and I do not consider it unreasonable. And when I get a price I like, I won't worry if we are at the bottom or not.

'...the lending guidelines are as tight as they've been in 25 years. "We're seeing people with (credit scores) of 618 get turned down,"' That's tight? It takes a year of paying your bills on time to get above 700!