Being Punished for Doing Everything Right

NEW -> Contingent Buyer Assistance Program
How do I get the address disclosed on redfin? Is that something I can do, or does our real estate agent have to?



Also, 8 Anjou just went into escrow, which is incredibly frustrating.
 
[quote author="no_vaseline" date=1213179383][quote author="awgee" date=1213174716]

I did not intend to hurt anyone's feelings. If I was offensive, I apologize. I was truly trying to help. Sorry.</blockquote>


Yeah, because that's <em>my job pal.</em></blockquote>


Especially if their name is PatV.



ha ha

-bix
 
[quote author="caliguy2699" date=1213223920]Graphrix can double-check this, but I'm seeing 2 REOs (8 Dauphine as you mentioned and 10 Anjou). There are also two preforeclosures - 18 Anjou and 8 Anjou.</blockquote>










Oh crap! I live at 24 Anjou. I'm surrounded by REOs! We're probably not able to move for 1-2 years in this market...maybe longer.
 
Hey don't take this as a knock to you but it just seems that you are being unrealistic and you feel as though you are entitled to a profit on the sell of your house. You say that you are not greedy and you just want enough money to put a down payment on the next house and pay off student loans. This is so common now. When people now are selling their house they decide on the listing price by everything that doesn't matter. They make it about everything except what is the price the house will sell at. When somebody decides to buy your house they don't care how much you owe, how much credit card debt or student loans you have. All that matters to a buyer is paying at most a fair market price. These days they are bidding FMV -10% if you are lucky. And with all fairness to sellers all they care about is making the most profit they can off selling their house. It is a two way street. I have to say your two pictures I saw are awful. The kitchen/dining room screams out I'm small. That is not a kitchen I think of getting when I pay almost 1 million for a house. And the pic of the two rocking chairs tells me you have no yard. Townhouses these days are very slow to sell but I think if you would of priced your home realisticaly in the beginning your house would of sold right away. You have to take all the emotion out of this transaction and stop setting your listing price at what will give you x amount of dollars for this and that and set your listing price at what it will take to sell your property. The market will only get worse and if you keep chasing the market down you will eventually be paying to get out of your house. In my opinion Newport Coast has alot of room to fall as it really has not fallen that much compared to other cities. The number of homebuyers who can qualify for a loan today which is few aren't looking to pay almost 1M for an attached home. They have the world by the balls. I don't want to seem to be so gloomy but you should set your price today at a price that will sell and get out before the carnage really begins. If you continue to set your price based on unrelated factors you could be in for a real beating. Look at the bright side wherever you go you will be getiing a house for much less than you would pay in the OC. Good Luck. I really mean that.
 
Thanks for all of the helpful comments. It's given us a lot to think about. So, different question--how much per month, in your opinion, would be a reasonable rental price? It's roughly 1700 sq. ft., and like I said it's 3BR/3BA.
 
[quote author="jmatthew" date=1213229548]Thanks for all of the helpful comments. It's given us a lot to think about. So, different question--how much per month, in your opinion, would be a reasonable rental price? It's roughly 1700 sq. ft., and like I said it's 3BR/3BA.</blockquote>


1. Ask your realtor to see the recent rental comps for reasonable pricing.



2. Ask why the address is not being published on the web. If you have an agreement regarding a discounted fee if the agent double-ends the transaction, you may have a legitimate reason behind it, but since you asked the question and were unaware above, I doubt it. During the MLS data entry, the default allows for the address to be disclosed, and the broker would have had to purposely opt-out to hide it. While that may benefit the broker's pocketbook in increasing chances to get paid for both sides of the transaction (because everyone has to call him/her to find out where it is), I have yet to hear how it benefits the seller.



3. All of these questions you should be bringing to your realtor. If you don't understand something, ask. If you still don't understand it, ask again. The average adult learns in a very specific way: understanding what, why, and then how, in that order. Ask <strong>what </strong>it is that is being done, and then find out the motivations (<strong>why</strong>) behind it. Lastly you need to find out how the rubber hits the road and understand <strong>how </strong>all of these things take place. I assure you that he/she will be appreciative as he/she can't read your mind. You will also benefit from participation in the process and making informed decisions, and appreciate more what is being done for you behind the scenes. If you don't ask and are left in the dark, you are not taking full advantage of the professional's service that you are rightly entitled to.



4. Seeking help from outside sources (like this forum) will be causing you more harm than good if you have not best clarified issues with your RE partner first. This will just muddy the waters and further confuse the situation. Every fool (including me) has an opinion and will give it up for you. I'm taking the time on this to spell this out for you in hopes of preventing the headaches of others in the future.



No more ranting. I'm off to preview. Good luck, jmatthew.
 
[quote author="jmatthew" date=1213229548]So, different question--how much per month, in your opinion, would be a reasonable rental price? It's roughly 1700 sq. ft., and like I said it's 3BR/3BA.</blockquote>


Are you sure you want to know. Doing the calculations of 160 times rent will produce a number in the $500k-$700k range.



I am not looking at Newport Coast so much, but I am looking at homes in the $800k-$900k range today. I know I will pay $650k-$700k for similar homes 2 years from now. I am not interested in a 1700 Newport Coast condo if I can get a 2500 sq. ft. home in Irvine or 3000 sq. ft. in South OC. I don't know how many people looking at homes in your price range really want a condo? But I think it's probably much less than the inventory out there. There won't be many sells before the market drops another 10%, maybe 15% or 25%.



In the end, you have to decide if you rather live there for another 3-5 years or move right now and get $100k less than what you thought you would get.



Good luck
 
[quote author="PadreBrian" date=1213181746]I suspect this one is you:



<a href="http://www.redfin.com/CA/Newport-Coast/57-Chandon-92657/home/5530095">http://www.redfin.com/CA/Newport-Coast/57-Chandon-92657/home/5530095</a>.</blockquote>


Wow, I love the pics of 57 Chandon, love the built-in bookcase and hot fireplace in master suite.



And this place is larger, newer and priced lower than yours?



You need to pull off the market for three months then re-list fresh at a lower price. Can't say how much lower because the market is tanking so fast.



You didn't do everything right. That's called rationalizing.



You followed the herd and bought into the biggest housing bubble in history.
 
<a href="http://orangecounty.craigslist.org/search/apa?query=newport+coast&srchType=T&minAsk=min&maxAsk=max&bedrooms=3">craigs list</a>



<a href="http://re.ocrealestatefinder.com/realestate/Rentals/SearchResults.asp">MLS</a>



Sort by type and then jump to page 6



<a href="http://re.ocrealestatefinder.com/realestate/Rentals/SearchResults.asp">OC Register Classified</a>
 
[quote author="caliguy2699" date=1213223920]Graphrix can double-check this, but I'm seeing 2 REOs (8 Dauphine as you mentioned and 10 Anjou). There are also two preforeclosures - 18 Anjou and 8 Anjou.</blockquote>


It was 10 Anjou that I was thinking of. I wasn't sure if was it that complex or not. You know, 6 months ago I could retain all the "good" properties in my head. Now, I have hit control-F in to sort through all the properties in Excel. It has become overwhelming.
 
[quote author="alan" date=1213233719][quote author="PadreBrian" date=1213181746]I suspect this one is you:



<a href="http://www.redfin.com/CA/Newport-Coast/57-Chandon-92657/home/5530095">http://www.redfin.com/CA/Newport-Coast/57-Chandon-92657/home/5530095</a>.</blockquote>


Wow, I love the pics of 57 Chandon, love the built-in bookcase and hot fireplace in master suite.



And this place is larger, newer and priced lower than yours?



You need to pull off the market for three months then re-list fresh at a lower price. Can't say how much lower because the market is tanking so fast.



You didn't do everything right. That's called rationalizing.



You followed the herd and bought into the biggest housing bubble in history.</blockquote>


Isn't that a little harsh... they bought in '02.
 
[quote author="jmatthew" date=1213227522]How do I get the address disclosed on redfin? Is that something I can do, or does our real estate agent have to?



Also, 8 Anjou just went into escrow, which is incredibly frustrating.</blockquote>


What does this tell you? It was priced $100k below yours, looked like a deal, probably got multiple bids, and the solid offer went into escrow. It is called chasing a falling knife for a reason. Now, if you had priced it at that a month ago, you wouldn't be here right now, because you would be in escrow and about to move on with your life. And... now if you drop the price to match 8 Anjou you are just chasing that falling knife again. With 10 Anjou already REO they will price it at the same as 8, and the other two in trouble means you need to drop the price below 8 Anjou, just to get some interest. Seriously, you do. I learned about the falling knife theory from a 30 year plus SVP from a major homebuilder, and he has been right on ever since he mentioned it.



My one other bit of advice... fire your Realturd, IR2 is right, they have a job to do and they are not doing it. Too bad he doesn't do NC, but he probably wouldn't have taken your listing at $1mil because it would be a waste of time.



Sorry to be so harsh, but I am being realistic and I want to help sell your house so you can move on with your life.
 
[quote author="biscuitninja" date=1213228031][quote author="no_vaseline" date=1213179383][quote author="awgee" date=1213174716]

I did not intend to hurt anyone's feelings. If I was offensive, I apologize. I was truly trying to help. Sorry.</blockquote>


Yeah, because that's <em>my job pal.</em></blockquote>


Especially if their name is PatV.



ha ha

-bix</blockquote>


When I see BS, I call it. But, hopefully I do not attack the person. I may atatck the post or the data or the opinion, but I try not to make anything personal.
 
Correction, graphrix - I didn't say fire anybody. I said ask questions, and get clarification from his current RE partner. Otherwise he's starting over from scratch.
 
[quote author="IrvineRealtor" date=1213235462]Correction, graphrix - I didn't say fire anybody. I said ask questions, and get clarification from his current RE partner. Otherwise he's starting over from scratch.</blockquote>


No you didn't, so please don't think that I got that from you, nor should anyone else. I said to fire him/her. That was my advice, and right now, starting over might be a good idea. Just my ?2, which is worth more today than yesterday. :-P
 
I agree with graph (sorry IR2, I know you have to be politic)



<strong>Fire them. They messed up your listing in many ways, and they have not been giving you good advice.</strong>



contact one of the posters here who is a RE agent in NC (sell4u) or see if you can get another recommendation for a RE agent who specializes in NC.



Then print this whole thing out and get their opinion on all these points



Then, relist



good luck, and sorry its not better news
 
YES. I too chime in with "fire the agent". Pick ANY of the agents on this board, they are all good! If you had a competent pro (that went through the last down time in the '90's) your house would have sold last year for a large profit. Remember, the loan mess didn't hit until last October.



1. Your agent should have prodded you to lower the price from the start; A door-buster. Sold comps, NOT for sale comps.

2. Unflattering pics.

3. Better staging needed.

4. Hidden address on listing.

5. Houses around you selling!



I better stop....my blood pressure.
 
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