Realtor Comments at Weekend Open House
The wife and I went to look at some open houses in Renton on Sunday 2/10. We had looked all spring, sold a home in Tacoma in July, and decided to rent after the sale rather than buy. We have until August to renew or buy. We ended up renting a much bigger house than we need b/c we got a nice deal (3900 SF for $2000/mo, with a second kitchen). Its a nicer house than we would have bought last spring.
We still get market updates from zip realty. We have noticed some sellers aggressively listing and selling before spirng hits (a home in the Talbot Hill area of Renton sold very quickly when listed at $399k, the house next door has been listed over 6 months at $499k, and there is a FSBO down the block for $480k).
Of the open houses we went to (from Craigslist) some showed no recognition of softening prices. One was listed at least 10% below what similar homes in that area were selling for in the Spring of 07. Split level about 1700 SF average condition listed for $325k. Had we seen that house last spring we would have made an offer, and might have been outbid.
We asked the realtor what the house would have listed for last spring. Said $350k+. The realtor also said if she were to relist the house TODAY she would list it for $360k!!!!!, b/c 100% financing is back, and there is PENT UP DEMAND!
The message was clearly to buy now before spring hits and prices go up again.
We still get market updates from zip realty. We have noticed some sellers aggressively listing and selling before spirng hits (a home in the Talbot Hill area of Renton sold very quickly when listed at $399k, the house next door has been listed over 6 months at $499k, and there is a FSBO down the block for $480k).
Of the open houses we went to (from Craigslist) some showed no recognition of softening prices. One was listed at least 10% below what similar homes in that area were selling for in the Spring of 07. Split level about 1700 SF average condition listed for $325k. Had we seen that house last spring we would have made an offer, and might have been outbid.
We asked the realtor what the house would have listed for last spring. Said $350k+. The realtor also said if she were to relist the house TODAY she would list it for $360k!!!!!, b/c 100% financing is back, and there is PENT UP DEMAND!
The message was clearly to buy now before spring hits and prices go up again.
Comments
It's true! It really, really is true! Now is the time to buy! Even the Realtors quoted in the Kitsap Sun say so!
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Kitsap Sun Article
........Lee Avery, branch manager for the Bremerton John L. Scott office in Bremerton, is optimistic about tomorrow. She said she's getting more calls than before from potential buyers weary of waiting for prices to drop further. Even investors are looking around now, she said.
"From here, it's only going to go up," Avery said.
Buckley (broker at Buckley & Buckley Real Real Estate) was also optimistic about the near future on Bainbridge and in the Northwest, and noticed new investor interest, too.
"It's a great time to buy,"she said........
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So there you have it. What else do you need to know? All potential buyers had better buy now before you are priced out forever, because from now on it's only going to go up!
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It's ALWAYS great time to buy.
You know, if any other professional, like say, a lawyer or a doctor stated something as a fact that later was shown to be clearly wrong, and you relied on their expertise and were harmed, thats called malpractice. why do real estate "professionals" get away with that crap, and why dont they have to carry malpractice insurance?
small editing problem in the kitsap sun?. I think, unlike me - those buyers are wary of waiting. I'm weary of it, but it still seems like a pretty good idea..
Believe none of what you hear and half of what you see.
-David
David - I had the exact same experience working retail in a hardware store. The "we're really busy" declaration is especially important if you are talking to a potential customer. My interpretation was that it had something to do with the so-called "herd mentality". Something along the line of - "Wow! These guys are really busy selling (insert item of your choice here) today. These prices must be good if everyone is buying (insert item of your choice here). I guess I better buy some (insert item of your choice here) too, while I still can."
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On another note, I saw one of the NAR ads on TV last night and I almost had coffee spray through my nose when I heard the B.S. they were spitting come through the TV speakers.