... and other sad truths about Sacramento I'm beginning to realize. Oh, who am I kidding? I LOVE this market and anyone else who thinks otherwise must either be lying or... I don't know... a seller!
While browsing for properties today and getting frustrated with all the 999s we Realtors try to attract attention to our listings with (yeah right, does anyone ever get a $1.00 check from a title company after buying a $150,000 home? I'd love to see that!) I saw several listings that are fantastic deals even though they are short sales.
As a rule, I don't get too excited by short sales because it seems like the parties involved just don't have enough control on the transaction. However, there are certain lenders out there that we know are out of the business and are liquidating everything they own. Hit upon such a short sale and you might just have not just a bargain but a pretty quick sale. There's no red tape when there's no lender!
So, here we go again... I have no money to invest but I'm in love with about three properties right now. And I'm showing them to my clients tomorrow. Well, if I don't get them, I'd rather be involved in the most fantastic deal of the year than watch by the sidelines.
Saturday, July 7, 2007
Busy Real Estate Market Leaves No Time for Blogs...
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2 comments:
Yet the very next day you post.
Did you know that in California there is one home for sale per real estate agent.
That means even if you inflate a median price of ma home to $1.2million and grab 2% commission, a realtor is on average only likely to make $24k for the year. What kind of a house/mortgage can you get with income like that - if you're in the market to buy instead of only selling ;-) ?
The housing bubble is bad for everybody. It's bad for homebuyers because houses are expensive and property taxes are high (who wants to pay $1,000/month on property taxes?). It's bad for banks because more people default. It's bad for realtors because fewer people buy... which means less commission overall.
Who would've thunk realtors are going to end up making less than schoolteachers - and this right in the middle of a housing bubble?
Yes, anonymous. I make time for what's important to me - this blog being one of them.
Even if your numbers are correct (which I doubt) they don't tell the whole truth. Have you heard about the 80-20 principle and why averages don't work? Read about it - it's quite enlightening.
And in my defense, I have been in the market to buy - I just bought my dream home and own 2 other rentals.
I think if you think about your own questions in a non-rhetorical fashion and sought the answers to them, you might just like real estate a lot more than you think you do.
I would urge you to do so.
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