Real Estate Rant... - Northern California Ford Owners

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Posted by Jmir018 (Member # 1414) on :

so.. as some of you know, we sold out property recently because i'm moving out and it's just too much house for one person. We hit the jackpot and got an excellent real state agent and with the right marketing the house was sold in less than a week with 15 offers and went WAY north of asking price. far exceeded our expectations.
For the last two months we've been looking at town homes and making the most of the market by offering low ball offers. whenever they would counter we would just not counter back hoping to eventually get a kick ass deal since we are in no hurry.
Well.. we found this really great place in Burlingame, first one we actually like.
The town home had been on the market for 34 days.. and just our fucking luck. First day we see it, was the day another couple saw it too and ALSO decided to present an offer.
With all the pain in our heart we decided to bid 10k over asking price (our original price was gonna be bidding 30k UNDER asking price and hope to strike gold) and still did not win.
The other freaking couple outbid us. if it wasn't for them i'm sure we'd be in that place right now.

Well... yesterday, after being totally demoralized, we stumbled into this hidden townhome in west san mateo for 70k cheaper than what we offered in burlingame and felt in love with it.
It's a nice lay out. my mom likes it so that's what matters since she'll be living there for 4 years and she's so hard to please...
the owners are really nice people and everything has been upgraded tastefully throughout.
well.. my agent has been incessantly trying to get in contact with their agent and has been unable to get straight answers from him.
The owners wanna sell quick, but the agent has a careless attitude, and while on the phone you could tell he's not even prepared disclosure packages.. can't find the reports etc. He sounds dumb as fuck too. I mean 30 days on the market and you can't do your fucking job? the pictures of this place are so so so so bad that a 5 year old could have done better. we almost did not check the place out based on them and almost missed out on a great opportunity.
We wanted to present an offer today(saw it yestersay so we are jumping on it quickly), but the fucker has not really prepared a disclosure package so we are not doing it. Timing is terrible because my agent is going out of town in two hours for two days and will now have to either present an offer with contingencies up the ass (reports, disclosures, etc) or just wait until friday morning.
I really hope noone jumps on it in the next couple of days..
what a fucking retard. they just think that by putting pictures up, putting the thing on a couple of sites the unit will sell? mediocrity pisses me off!!

cliff notes and conclusion of the argument:

We are buying a townhome and the seller's newbie real estate agent is fucking up the process of the transaction. If you don't know what the fuck you are doing and just think that by going into real state you'll make easy money, then get the fuck off. you are messing it for buyers and sellers.

done.

[ May 29, 2007, 09:48 PM: Message edited by: Jmir018 ]

Posted by SmokinLX (Member # 1684) on :

The listing agent has 5 day's to give You the disclosures and then You have 10 day's to do Your inspection's. Different area's do thing's differently "some get all the inspection's done before & some don't" so You would'nt need to write anything differently with Your offer. But if You don't feel comfortable working with the guy then forget it.

Posted by FasterDamnit (Member # 442) on :

"real state" ??

You're joking, right?

Posted by Jmir018 (Member # 1414) on :

quote:
Originally posted by SmokinLX:
The listing agent has 5 day's to give You the disclosures and then You have 10 day's to do Your inspection's. Different area's do thing's differently "some get all the inspection's done before & some don't" so You would'nt need to write anything differently with Your offer. But if You don't feel comfortable working with the guy then forget it.

sucks for the sellers though... maybe it's his ineptitude that has kept the house in the market for so long.

Posted by Jmir018 (Member # 1414) on :

quote:
Originally posted by FasterDamnit:
"real state" ??

You're joking, right?

what?

Posted by FasterDamnit (Member # 442) on :

quote:
Originally posted by Jmir018:

quote:
Originally posted by FasterDamnit:
"real state" ??

You're joking, right?
what?

Guess not.

Good luck.

Posted by ALL HAIL TRAINER MATT (Member # 7524) on :

quote:
Originally posted by FasterDamnit:

quote:
Originally posted by Jmir018:

quote:
Originally posted by FasterDamnit:
"real state" ??

You're joking, right?
what?
Guess not.

Good luck.

real E state

Posted by hidnn.o.s. (Member # 1219) on :

quote:
Originally posted by FasterDamnit:

quote:
Originally posted by Jmir018:

quote:
Originally posted by FasterDamnit:
"real state" ??

You're joking, right?
what?
Guess not.

Good luck.

Posted by Jmir018 (Member # 1414) on :

quote:
Originally posted by ALL HAIL TRAINER MATT:

quote:
Originally posted by FasterDamnit:

quote:
Originally posted by Jmir018:

quote:
Originally posted by FasterDamnit:
"real state" ??

You're joking, right?
what?
Guess not.

Good luck.
real E state

fixed.

Posted by Luke87GT (Member # 21) on :

Man, you have no idea lol.

If you think counter-offering is bad now, imagine what it was 2-3 years ago when the real estate slope was as positive as its ever been. I'm talking about the times when the investors made up a big chunk of the equation.

I watched my folks lose out on a number of offers in the Danville/San Ramon area to investors. I am talking about guys showing up in a Benz, walking in, and bidding 30, 40, 75K above asking price. That was something and it demoralized my folks from what I recall...

I am presently looking for a Condo in SF... Damn 1 bedrooms 1 bath in anything that is not 80 years old starts at $500,000! And the jump from 1 bedroom to 2 is astronomical because they know you could rent a room out a single room for $1500 in SOMA, the Marina, North Beach, etc...

gonna pull the trigger regardless soon since I need to get in it and I am not ready to buy a house in suburbia. Plus, the demand for SF will always be incredibly high.

[ May 29, 2007, 10:11 PM: Message edited by: Luke87GT ]

Posted by ALL HAIL TRAINER MATT (Member # 7524) on :

quote:
Originally posted by Jmir018:

quote:
Originally posted by ALL HAIL TRAINER MATT:

quote:
Originally posted by FasterDamnit:

quote:
Originally posted by Jmir018:

quote:
Originally posted by FasterDamnit:
"real state" ??

You're joking, right?
what?
Guess not.

Good luck.
real E state

fixed.

Posted by SmokinLX (Member # 1684) on :

quote:
Originally posted by Jmir018:

quote:
Originally posted by SmokinLX:
The listing agent has 5 day's to give You the disclosures and then You have 10 day's to do Your inspection's. Different area's do thing's differently "some get all the inspection's done before & some don't" so You would'nt need to write anything differently with Your offer. But if You don't feel comfortable working with the guy then forget it.
sucks for the sellers though... maybe it's his ineptitude that has kept the house in the market for so long.

You are rite if every other listing agent has the inspection's & disclosures complete and on file prior to lising the home then He is'nt doing His client any favor's. In My neck of the wood's people aer'nt as quick to shell out $200 buck's for a termite inspection that is going to expire in 6 month's and then have to shell out another $200 when You finally do get an offer/sell the home.

Posted by yipnip5.0 (Member # 175) on :

Your problem is you are too emotionally attached to the properties you are bidding on. Relax, lighten up on the f-bombs, and put in an offer. The real estate agent isn't making the decision to buy or to sell, the owner is. If your offer makes sense they will accept it. If not, move on. It's no different than buying a car, don't go in to the deal being a pussy because it shows. You sound like you're gonna cry if you don't get this house.

Posted by aslowdodge (Member # 854) on :

I remember putting in an offer on a house 2 years ago @ 680K. I offered $40K over that price and came in 8th place [Frown]

The newby realtors really are clueless. I had to work a few and if my realtor hadn't been experienced, they would have botched the deals for sure.

A lot of new realtors really shouldn't be in the business at all, but when people see green, everyone jumps in.

Posted by Jmir018 (Member # 1414) on :

quote:
Originally posted by aslowdodge:

A lot of new realtors really shouldn't be in the business at all, but when people see green, everyone jumps in.

i totally agree.

quote:
Originally posted by yipnip5.0:
Your problem is you are too emotionally attached to the properties you are bidding on.

Not at all man, we've bid on several properties that had potentials and walked away even when they counter little over what we had offer originally.
the only on we cared about was the one where we were outbit. [Mad]

oh well.. we are presenting an offer tomorrow. [patriot]

Posted by castor (Member # 2765) on :

quote:
Originally posted by yipnip5.0:
Your problem is you are too emotionally attached to the properties you are bidding on. Relax, lighten up on the f-bombs, and put in an offer. The real estate agent isn't making the decision to buy or to sell, the owner is. If your offer makes sense they will accept it. If not, move on. It's no different than buying a car, don't go in to the deal being a pussy because it shows. You sound like you're gonna cry if you don't get this house.

Pretty much sums up this whole post.

We've lost houses 4-5 times by 100k. If it was meant to be, then you'd get it. If not, move on to the next one. We placed multiple bids in one week before landing our place now in SF. This was 3 years ago when interest rates were below 6 percent and when homes were listing for 499k.
If you think a bidding war is bad now, try 3-5 years ago.
Good luck! [patriot]

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