Housing Market: Buyers practically home free these days | The Columbus Dispatch

From pool tables to appliances, new roofs to big-screen televisions, buyers are demanding - and often receiving - concessions from sellers. Full Story
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Nope

Hilliard, OH

#23 Jul 10, 2011
ActTheFool wrote:
If you earn $40,000 per year, then multiply by 2.5 to get the amount of house you can afford - which is $100K.
That is an iron rule - 2.5 x gross earnings.
Houses aren't selling because they are still grossly overpriced for the income of average people.
Stop supporting home prices artificially and let them fall, and the market will recover on its own.
Wow. Whose rule is that?!? If we did that, in theory, we could afford a $320k house. Maybe... But we'd never be able to do anything else but pay a mortgage. Wake up people and make your own decision on what you can afford. Don't let a lender or realtor tell you.
Fred Zapplin

New Egypt, NJ

#24 Jul 10, 2011
When I bought my house 23 years ago the seller threw in the termites for free!
Tony

Chillicothe, OH

#25 Jul 10, 2011
DoUntoOthers wrote:
Here's an idea. You get married, buy a house and then stay there. That's what my parents did, and that's what we are doing. There has been (and only will be) exactly one real estate transaction in my life.
People think - I'm depressed, maybe a bigger house will cheer me up. Wrong. All these people chasing "more" end up paying more and more each month for their shelter. Meanwhile, my payments are stuck at 1989 levels - couldn't even rent a Section 8 apartment for what I pay each month for my nice home.
Put down some roots and stop wasting money chasing materialism that won't really make you happy!
It might be better to rent while you have kids and save until you can afford to pay cash for your retirement home. Because by that time the kids are on their own and you won't need as large a home.
Tony

Chillicothe, OH

#26 Jul 10, 2011
Fred Zapplin wrote:
When I bought my house 23 years ago the seller threw in the termites for free!
You know they're an excellent source of protein, don't you?:)
freeloader

Canal Winchester, OH

#27 Jul 10, 2011
Put a moratorium on sales of foreclosed properties until the market recovers. THEN, you'll see the housing market, the building market and unemployment and other recession problems get fixed.
Worried about the financial institutions? They didn't worry about us, did they? They've recovered from the problems the created for themselves, thank you. Now maybe they ought to sit on those properties they're dumping on the market at prices way below the level they mortgaged/appraised them for.
That will level the playing field for the rest of us.
After the market recovers, the the financial institutions can sell those properties for reasonable amounts and make money for themselves as well. They just need a guiding hand to get them to sit on the properties and not bolt for the exits.
ActTheFool

Columbus, OH

#28 Jul 10, 2011
freeloader wrote:
Put a moratorium on sales of foreclosed properties until the market recovers. THEN, you'll see the housing market, the building market and unemployment and other recession problems get fixed.
Worried about the financial institutions? They didn't worry about us, did they? They've recovered from the problems the created for themselves, thank you. Now maybe they ought to sit on those properties they're dumping on the market at prices way below the level they mortgaged/appraised them for.
That will level the playing field for the rest of us.
After the market recovers, the the financial institutions can sell those properties for reasonable amounts and make money for themselves as well. They just need a guiding hand to get them to sit on the properties and not bolt for the exits.
We need to clear the foreclosures. The problem has been dragging out the foreclosure process. We need to declare December 2011 to be foreclosure month and throw everybody out who isn't paying their mortgage, and list those properties for whatever it takes to sell them in two months. That way, we clear out the deadbeats, get the properties out of the hands of banks and back into the market place, and put this all behind us. This business of letting people live for free in the homes for years makes me sick - boot their butts out and lets clear this problem up!
Gabe Gerken

Columbus, OH

#29 Jul 10, 2011
Ohioan wrote:
Cindy Calendar, you are a perfect example of the problem with realtors. This family asked you to show them houses up to $300,000.00 in price and your solution is to show them a $330K house (10% over budget) and I'm guessing for those "50" homes you'd already shown them that not a SINGLE one had an asking price lower than $290,000.00!
REALTORS WAKE UP!!! When a homebuyer says the most they'll pay is XXX amount DO NOT show them homes that are price ONE DIRTY PENNY over XXX amount. People tell you the most they 'can' afford but what they 'really' want is to purchase a property for LESS than the MAX amount they are willing to spend. In this case: start with showing properties that are listed at $250,000.00 and work you way up to $300,000.00 properties that way the customer appriciates how much 'better' or perfect the more expensive properties are so when they decide to make an offer they know exactly what they're getting for thier money.
REALTOR GREED = Showing ONLY properties priced at or over the MAX amount that the buyer has stated they're willing to spend.
REALTOR SMART = Showing properties under and up to the MAX amount they buyer says they want to pay.
Once back in the 1990s I was shopping for a house. I asked to be shown houses that were in a particular price range. After thinking about it for about a month, I asked to be shown houses that were in a price range about 50k difference from the original range. The realtor then showed me several of the same houses.
former buyer

United States

#33 Jul 11, 2011
Sue Lusk-Gleich is a joke... The house she is talking about is 628 Eastmoor Blvd and I'm pretty sure I'm one of the buyers she's talking about.
We had issues with the roof... it was 30 years old. Didn't say anything about the screened door, but then again, there were at least FIVE different couples who went under contract and then bailed after the inspection because of all the problems.

Nice to know she tells sellers not to read the inspection so they don't have to disclose... since our inspector found lead paint, asbestos, and carbon monoxide hazards. Then Sue and/or the seller called our inspector and cussed him out, saying he "could have worded the problems in a nicer way".

The point is - we offered $121,00 on a 130,000 list price, got the inspection report which after we ran some of the issues by a contractor, resulted in $30-40k worth of projects, we decided the house wasn't worth even close to $121,000 let alone $130,000.

Sue, this is why your listing has been out for 1.5 YEARS and the price has never gone down. Knock some sense into your sellers instead of talking sh** about your buyers in the paper. I will make sure no one I know ever uses Keller Williams.
Whatever

Columbus, OH

#34 Jul 11, 2011
Alex wrote:
The real estate market will never rebound until their is some equality between buyer and seller. Being a former builder with my own subdivision who used to include alot of options in my homes that other builders did not, I have no idea how builders are making a living. Commodity prices have not come down and buyers are at their most unreasonable point ever. I always told people that real estate was a longterm investment. I wonder if all these folks getting a deal of a lifetime will then relist their houses in a few years at the first sign of a true market rebound and create another downturn in the market.
Then you are part of the problem. Real estate is NOT a longterm investment. It is a necesity of life that may or may NOT go up in value over the long term.

The whole idea that people are supposed to make good money on owning a house is what has gotten us into so much trouble to begin with. People are buying houses that are way above their means because they think it is some sort of investment.

Of course, being a developer you are going to tell people whatever you can to make them buy more house than they need. Then you pocket the profits and go on about your life without a care for those people you screwed with bad advice.

Don't get me wrong. No one is holding a gun to their heads and forcing them to buy more house than they can afford. But the endless hype about investments is not helping.
Gabriel

Columbus, OH

#35 Jul 11, 2011
I agree but sometimes people have to move for a variety of reasons divorce, job relocation etc…
DoUntoOthers wrote:
Here's an idea. You get married, buy a house and then stay there. That's what my parents did, and that's what we are doing. There has been (and only will be) exactly one real estate transaction in my life.
People think - I'm depressed, maybe a bigger house will cheer me up. Wrong. All these people chasing "more" end up paying more and more each month for their shelter. Meanwhile, my payments are stuck at 1989 levels - couldn't even rent a Section 8 apartment for what I pay each month for my nice home.
Put down some roots and stop wasting money chasing materialism that won't really make you happy!
Suburbs of Lilly Chapel

Mount Gilead, OH

#36 Jul 11, 2011

You get what you pay for.
If you don't ask you don't get.
I have this much to spend and can only pay this much.
This is what I'm selling and at this price.
After that buying or selling a home requires your OWN property attorney, your financing, and above all your own property inspector and appraiser.
And if you ever hear, "Oh you really don't need an attorney, or an inspector." that is exactly what you need to run fast and find or keep running.
The realtor is only there to open the lock box for you to gain entry for an inspection oh yea and take 3-6% of the transaction.

You want to buy a house ignore the realtor. Wait until the well dressed realty thief drives away and circle the block. Go back and have a cup of coffee with the seller, get the story and have your attorney make your offer. Oh sure the realtor will cry foul but thats about all they can do. I just remind them that it's my house, my money, buying or selling and if they sit there real nice you will let them have there 3% without complaint to the realty board.
If you forget any of those facts be prepared to be fleeced down to your last borrowed dollar.

The real-estate market crisis is a realtor manipulated crisis. Who do you think inflated this market anyway? You want to fix it. Make the realtor and appraiser sign a letter to return commissions to the bank if the loan defaults.
Tony

Chillicothe, OH

#37 Jul 11, 2011
Gabriel wrote:
I agree but sometimes people have to move for a variety of reasons divorce, job relocation etc…
<quoted text>
None of which should create any type of obligation in anybody else.
turntable

Columbus, OH

#38 Jul 11, 2011
For we narssistic homebuyers who demand this and that, and want to see 50 homes, you sellers and realtors can say no, hell no.
Or you can collectively ask for twice the listing price. We are no vultures, but are actully very shy about discounting your asking price. You would come out ahead even you throw in those extras.
Get the Facts Jack

Columbus, OH

#39 Jul 11, 2011
Wow!! I think you've been out in the burgs too long. If you think that the real estate crisis was created by Realtors, you are sadly mistaken. Wall Street is to blame. If you get a chance please read the book called "Lairs Poker". The Ohio State University studies this book in their business classes. It will explain what happened and why.
As far as the real estate commission goes, walk a day in Realtor's shoes. They have to deal with lenders, title companies, buyers, sellers, appraisers, lawyers, inspectors, contractors and many others. Selling a home is not a easy thing to do. There is an old saying "Buyers are lairs and Sellers are worse". Everyone thinks their property is worth a million and the buyer thinks is it worth nothing.
Suburbs of Lilly Chapel wrote:
You get what you pay for.
If you don't ask you don't get.
I have this much to spend and can only pay this much.
This is what I'm selling and at this price.
After that buying or selling a home requires your OWN property attorney, your financing, and above all your own property inspector and appraiser.
And if you ever hear, "Oh you really don't need an attorney, or an inspector." that is exactly what you need to run fast and find or keep running.
The realtor is only there to open the lock box for you to gain entry for an inspection oh yea and take 3-6% of the transaction.
You want to buy a house ignore the realtor. Wait until the well dressed realty thief drives away and circle the block. Go back and have a cup of coffee with the seller, get the story and have your attorney make your offer. Oh sure the realtor will cry foul but thats about all they can do. I just remind them that it's my house, my money, buying or selling and if they sit there real nice you will let them have there 3% without complaint to the realty board.
If you forget any of those facts be prepared to be fleeced down to your last borrowed dollar.
The real-estate market crisis is a realtor manipulated crisis. Who do you think inflated this market anyway? You want to fix it. Make the realtor and appraiser sign a letter to return commissions to the bank if the loan defaults.
Suburbs of Lilly Chapel

Mount Gilead, OH

#40 Jul 12, 2011
Get the Facts Jack wrote:
Wow!! I think you've been out in the burgs too long. If you think that the real estate crisis was created by Realtors, you are sadly mistaken. Wall Street is to blame. If you get a chance please read the book called "Lairs Poker". The Ohio State University studies this book in their business classes. It will explain what happened and why.
As far as the real estate commission goes, walk a day in Realtor's shoes. They have to deal with lenders, title companies, buyers, sellers, appraisers, lawyers, inspectors, contractors and many others. Selling a home is not a easy thing to do. There is an old saying "Buyers are lairs and Sellers are worse". Everyone thinks their property is worth a million and the buyer thinks is it worth nothing.
<quoted text>
I own a sales and marketing company. I also have bought and sold a number of properties. I have trained 100's of sales reps. When a person in sales references a statement with "I have to deal with" it usually means I can't get away with just taking the money I have to work for it. And it also means darn-it all these people are looking over my shoulder because of the shenanigans mentioned by all of the other would be buyers we tried this on.
And again. Why don't you have to give back your commissions on all of your bad deals, police yourselves so to speak?
Hasn't anyone ever said to you, you sold it, you told me this was a good deal, you gave me the subprime lenders name, you help set the price with the buyer, you took the money, now fix it?
Yes I have heard all of the funny buyers are lairs and sellers are worse sayings. How about this, how do you know a salesperson is lying? There lips are moving.
I'm sorry walking in your high heals all day is so painful. But you were the first in the long line of criminals you have to deal with dragging the first time home buyer to the subprime slaughter, own it.
Get Over It

Columbus, OH

#41 Jul 12, 2011
Suburbs of Lilly Chapel wrote:
<quoted text>
I own a sales and marketing company. I also have bought and sold a number of properties. I have trained 100's of sales reps. When a person in sales references a statement with "I have to deal with" it usually means I can't get away with just taking the money I have to work for it. And it also means darn-it all these people are looking over my shoulder because of the shenanigans mentioned by all of the other would be buyers we tried this on.
And again. Why don't you have to give back your commissions on all of your bad deals, police yourselves so to speak?
Hasn't anyone ever said to you, you sold it, you told me this was a good deal, you gave me the subprime lenders name, you help set the price with the buyer, you took the money, now fix it?
Yes I have heard all of the funny buyers are lairs and sellers are worse sayings. How about this, how do you know a salesperson is lying? There lips are moving.
I'm sorry walking in your high heals all day is so painful. But you were the first in the long line of criminals you have to deal with dragging the first time home buyer to the subprime slaughter, own it.
Hilarious. You just called yourself and your trainees liars. I laugh whenever I hear someone claiming to own a "sales and marketing" company. Often a self-proclaimed know-it-all who got fired from their last car sales job (my apology to those people). They use forums like this to disparage other sales professionals, then spend all day trying to sell those same people useless ideas and crap to help them "succeed". The comment about returning commission is the funniest thing I've heard in awhile. Try applying that analogy to whatever it is you do, and you'll be embarrassed you even said it out loud. Please stick to topics you know. On the bright side, you might have a future in politics!

To anyone who has been wronged by a Realtor, Realtor-nation apologizes to you with all its heart! You are in the vast minority. Most people do their homework, find someone professional and trustworthy, and have a good experience. Unpleasant things can happen even with good agents. It's just called life and it's not always fair. If most people worked for a year as a fulltime agent and saw how much work it takes, they would have a new-found respect. The world would be a much better place if adults started taking responsibility again and stop looking for someone to blame.
Get the Facts Jack

Mount Gilead, OH

#42 Jul 12, 2011
Perfect! Well said my friend...
Get Over It wrote:
<quoted text>
Hilarious. You just called yourself and your trainees liars. I laugh whenever I hear someone claiming to own a "sales and marketing" company. Often a self-proclaimed know-it-all who got fired from their last car sales job (my apology to those people). They use forums like this to disparage other sales professionals, then spend all day trying to sell those same people useless ideas and crap to help them "succeed". The comment about returning commission is the funniest thing I've heard in awhile. Try applying that analogy to whatever it is you do, and you'll be embarrassed you even said it out loud. Please stick to topics you know. On the bright side, you might have a future in politics!
To anyone who has been wronged by a Realtor, Realtor-nation apologizes to you with all its heart! You are in the vast minority. Most people do their homework, find someone professional and trustworthy, and have a good experience. Unpleasant things can happen even with good agents. It's just called life and it's not always fair. If most people worked for a year as a fulltime agent and saw how much work it takes, they would have a new-found respect. The world would be a much better place if adults started taking responsibility again and stop looking for someone to blame.
abc123

United States

#43 Jul 13, 2011
Suburbs of Lilly Chapel wrote:
<quoted text>
I own a sales and marketing company. I also have bought and sold a number of properties. I have trained 100's of sales reps. When a person in sales references a statement with "I have to deal with" it usually means I can't get away with just taking the money I have to work for it. And it also means darn-it all these people are looking over my shoulder because of the shenanigans mentioned by all of the other would be buyers we tried this on.
And again. Why don't you have to give back your commissions on all of your bad deals, police yourselves so to speak?
Hasn't anyone ever said to you, you sold it, you told me this was a good deal, you gave me the subprime lenders name, you help set the price with the buyer, you took the money, now fix it?
Yes I have heard all of the funny buyers are lairs and sellers are worse sayings. How about this, how do you know a salesperson is lying? There lips are moving.
I'm sorry walking in your high heals all day is so painful. But you were the first in the long line of criminals you have to deal with dragging the first time home buyer to the subprime slaughter, own it.
You own a sales and marketing company and you posted:
"How do you know a salesperson is lying" "Their lips are moving"
?????
I think you're example of "using" a real estate agent to show you the house, then crossing the sign to do your own private deal is thoroughly unethical.

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