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Im no expert but I agree with Bra, that it depends on your situation.... Im old had over 1/2 million equity, and wanted to not make such a big payment and didnt care about owning the house free and clear so interest only worked well for me for last 3 years. I still made a ton in upward value, while saving on the monthly nut being interest only... its when you get into the negative am that you get hurt, like some folks are now...
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And we all have to remember, you do not get into real estate for quick money, or a quick return, althgough you have been able to do it over the past few years. Real estate is still a long term investment, and there will be down turns. When you look at real estate, you look at about a 5%/ year increase because there are times of downward revision, and times of big upward climbs. It's still the best investment ovewr the long term in my opinion. But an investor looking for quick profits isn't going to normally find them in Real Estate...
BRA
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Been exposed to several deals in San Diego County where homes that shot up to $700k+ are now dropping way below the 2nd and 3rd mortgage balances. Plus the last stat I have is that S.D. county is losing 18,000 people per month. I'm not saying the sky is falling, but be aware.
I am curious where you got that stat from? In the early '90's, it was the defense contractors (predominately General Dynamics) leaving S.D.. Who is it this time? Why?
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CBaddad,
Oh, BIG time ouch. Thank you for requesting my figure source. I received that figure from a San Diego real estate agent late last year.
That number is waaaaaaaay bad! At least it is not a net figure.
Although San Diego has slipped from the sixth most populace city to the eigth most populace in the last five years their net loss was only 8,276 in the most recent full year record. These stats were from the San Diego Union Tribune of June 21, 2006. The same article reports the then median home price as $607,000.
Sorry for the wrong information.
TT
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dude here me out here...all I'm saying is I've got two comparable homes to show my buyer--am I gonna show them the one that pays me more first?? It ain't rocket science :boxed:
I know it is not rocket science, but when I am looking for a house I pick the area I want to live and choose which houses I want to see and then tell my realator. It for the reason you are stating I find it on my own then see what I want. I have had many realators show me shit because of higher % to them.
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I know it is not rocket science, but when I am looking for a house I pick the area I want to live and choose which houses I want to see and then tell my realator. It for the reason you are stating I find it on my own then see what I want. I have had many realators show me shit because of higher % to them.
That's not cool, and I would be pissed if I were you. While what Dan says is true, it's human nature, it's also very short term thinking. (That's not a slam on Dan, cause he's a quality guy and would never screw anybody, well speaking of clients, anyway :D )You can find realtors out there that are in this business for the long haul, and absolutely put the client first. In this business, it snowballs. If you do someone right, they will refer you on and on. That referral business is worth way more than a few extra bucks on one deal. Unfortunately, not everyone in the business can think long term.
My goal is to maximize my clients' returns on their investments, and that doesn't just come on the selling side, but also when they buy. If I do my job well, the money comes. I also get great satisfaction in helping people get as close to exactly what they want as possible. That takes more work on my part, but I believe that's what I get paid for.
Having said all that, when marketing a property right now, the higher commission offered, the more responses you'll get. Good luck. :cool:
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I know it is not rocket science, but when I am looking for a house I pick the area I want to live and choose which houses I want to see and then tell my realator. It for the reason you are stating I find it on my own then see what I want. I have had many realators show me shit because of higher % to them.
we do all purchases that way--however, if you're the guy selling--as airtime said--you'll get more responses with more $$$ offered--all I was trying to say.
also as Rick said--if we do our job you have equity walking in the door. As buyers agent--we will, and have, refused to write an offer on our clients behalf if the property is over-priced and our buyer "has to have it anyway"
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we do all purchases that way--however, if you're the guy selling--as airtime said--you'll get more responses with more $$$ offered--all I was trying to say.
also as Rick said--if we do our job you have equity walking in the door. As buyers agent--we will, and have, refused to write an offer on our clients behalf if the property is over-priced and our buyer "has to have it anyway"
I am just bitter from my own experiences with realators. I have gone through four realators in my area and in my opion they did not in anyway work for me. You obviously run your business in a professional manner with your clients best interest in mind. I understand what you are saying. There is just alot of unqualified agents in your industries that create a bad rep for the true professional.
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It is interesting to hear everyone's take on what is going on in todays market. Out here we are really starting to see a ton of Realtors and Loan Agents getting out of the business fast. As tough as the market is, its going to seperate those who are in it for the long haul and those who were quick money. It sucks that agents are showing homes based on the pay check they will receive and not whats best for the client. You should be mad. Maybe even make a complaint..
From the mortgage end we are starting to see the buyers getting almost anything they want. Many of the agents we work with are negotiating the heck out of the sellers and most of them are getting what they ask for. This is a complete 180 from what it was a year ago. Oh for the days of too many offers... :rollside:
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I am just bitter from my own experiences with realators. I have gone through four realators in my area and in my opion they did not in anyway work for me. You obviously run your business in a professional manner with your clients best interest in mind. I understand what you are saying. There is just alot of unqualified agents in your industries that create a bad rep for the true professional.
boy thats the truth...and there's only 18,000 of them in our Las Vegas market :rolleyes: