Home buying thread

Captain Suave said:

‘Incredible distortions in our marketplace’: 45% of real estate agents claim they're struggling to pay rent — another bad sign for the housing market. But 2024 could be better

Realtors are leaving the industry by the tens of thousands amid sluggish home sales.

finance.yahoo.com

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Amazes me to see anyone say "raising rates so quickly." Had the Fed done what we wanted, they would've raised them twice as much.

Gravel said:

Amazes me to see anyone say "raising rates so quickly." Had the Fed done what we wanted, they would've raised them twice as much.

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I just read it as a ton of new real estate agents came into the field during this "high" and thought the money would last forever. Where as people that have done it longer, are at least half witted enough to know that its a feast or famine job for most people. Every successful real estate agent I know does it part time unless theyre the head of their office. However, I am happy to see less cocky assholes at every event I have to go to. So there is some bright light in all of this.

But if they can't steal 6% of your home value and then you don't even sell, how can they afford all those luxury cars they don't even take clients around in anymore???

Daidraco said:

I just read it as a ton of new real estate agents came into the field during this "high" and thought the money would last forever. Where as people that have done it longer, are at least half witted enough to know that its a feast or famine job for most people. Every successful real estate agent I know does it part time unless theyre the head of their office. However, I am happy to see less cocky assholes at every event I have to go to. So there is some bright light in all of this.

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+1

I know a few agents. One has his own brokerage. Great to buy from. Can work deals in blink of eyelids because he loves volume. He's the type of guy who always has deals going while other people have jack and shit. I didn't use him to sell my houses because he does leave money on the table. Fine if it is other people's money.

The guy I used a few years ago does it as part time/second ft job. He's been doing it for a long time. He owns his own hazmat removal business. Between the two, he's always busy. He has 6 kids in private school and college and he doesn't sweat economic downturns.

The other agent that sold my other house does it pt/ft to supplement household income. Mostly, she's a SAHM mom of two young kids, but she's still full of hustle...even though I had to kick her in the ass once. Other than that, we were completely simpatico buying and selling. I bought the house from her and had her sell it. Met her twice, talked on phone maybe ten minutes total across both transactions. Bam, bam, easy.

The agent I used to buy this house was one of these low effort polyester pantsuit types...career RE agent who wears too much makeup and cheap perfume and far too much polyester. Luckily, I am an ace at getting drunk and paying cash for houses sight unseen, and all I needed her to do was work the offer and schedule home inspection. Despite having done this for decades, she didn't know that title companies don't release keys until they are paid. Luckily, the lady at the title company knew what she was doing and had payment and key delivery set up and even went out of her way to get me the keys.

^ That agent is the type of person who gets screwed by slowdowns and downturns because they are always ALWAYS behind the curve on at least one important issue.

And then there are the legion of phone-waiters who do the minimum at everything and wonder why they get lucky and make any kind of money at all.

Huh, I guess that sheds some light on why, in California, when we bought our house we had to rent it for the weekend because the title company fucked up and had to move our closing date last minute from Friday to Monday. I guess otherwise we could've just moved in, pulled our offer, and squatted.

Lanx said:

worthless agent

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Why in the everliving fuck would you let someone else live in your house for free??

I had an offer in on a place and almost negotiated a leaseback, but you better fucking believe there was going to be rent and a big security deposit held in escrow.

Captain Suave said:

Why in the everliving fuck would you let someone else live in your house for free??

I had an offer in on a place and almost negotiated a leaseback, but you better fucking believe there was going to be rent and a big security deposit held in escrow.

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First time homebuyer and his realtor probably baited him into it by saying its totes normal so she could get her commission.

Khane said:

First time homebuyer and his realtor probably baited him into it by saying its totes normal so she could get her commission.

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I was a first time home buyer, too, and it never even occurred to me to give my house to someone. This is common sense shit. (My realtor also said, "Don't do this. If they aren't ready to move out and give you keys to a vacant house, push the closing date back.")

Captain Suave said:

I was a first time home buyer, too, and it never even occurred to me to give my house to someone. This is common sense shit. (My realtor also said, "Don't do this. If they aren't ready to move out and give you keys to a vacant house, push the closing date back.")

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It's common sense to you. It's not to many, many people. Why do you think so many dipshits can make a living as realtors and get away with being worthless at their job?

Gravel said:

Huh, I guess that sheds some light on why, in California, when we bought our house we had to rent it for the weekend because the title company fucked up and had to move our closing date last minute from Friday to Monday. I guess otherwise we could've just moved in, pulled our offer, and squatted.

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So I mentioned this to my wife, and I guess that wasn't our situation. We actually had everything signed and notarized, but the title company just didn't get it filed with the county on time and so we had to wait til Monday. So they rented it to us for the weekend.

And the reason we needed to get in was because I was leaving to travel for work that Monday and be gone for two weeks.

So not really the same situation at all and I can still be annoyed about it.

While there's no doubt they fucked up, I feel like that wouldn't actually matter in many states. The whole squatter's rights bullshit is never about actual lease terms or anything, it's always about someone claiming they have a valid lease (even verbal) or whatever right to reside and the Sherriff goes 'oh then sorry take it to the courts guys'. There's no difference between a proper leaseback or them just not actually moving out.

Holding money in escrow sounds nice in theory, and so does a prenup. But since judges do whatever they want, it might not matter and in the best case they could still inconvenience you for months or years, and meanwhile you're basically... paying mortgage interest on the 20k sitting in an escrow account they didn't get yet or something?

When we first bought it was like that, they basically rented it to us for a few weeks trying to get their house finished similiar to the issues some of yall have had here w/ bullshit. Though after a month I think it was we had a hard date no more extensions and they moved w/ out issues.

BoozeCube said:

Shit just go ahead and pass the bill that all American soil and real estate is owned by the government and they get to pick and choose who lives where. It's not to far off from current reality anyways.

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Ds need to keep something in the oven for election season....