Housing prices

[Roger Roger]

Cross post thread confusion!!!

I’m tripping balls again


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You ARE freakin out

Man

 

[tcco94]

Apparently there is legislation pending to stop the practice.


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Yeah good luck. Doubt they do anything to stop it because all of of Congress is in the game as well. And they don’t want to tank the market. Just give everyone a little bit of hope there’s change on the horizon to stop this practice that kills the middle class.

Reminds me of everytime we hear about legislation on the floor to stop allowing them to insider trade and only invest in blind trusts. Then the legislation gets lost somewhere and 5 years later we talk about it again.

 

[///AMG]

Yeah good luck. Doubt they do anything to stop it because all of of Congress is in the game as well. And they don’t want to tank the market. Just give everyone a little bit of hope there’s change on the horizon to stop this practice that kills the middle class.

Reminds me of everytime we hear about legislation on the floor to stop allowing them to insider trade and only invest in blind trusts. Then the legislation gets lost somewhere and 5 years later we talk about it again.

Don't worry, I overheard some 20-somethings talking today at lunch, and they said the billionaires who fund their startup said they shouldn't buy right now, just rent. As soon as the interest rates come back down, there is gonna be a massive sell-off. They were so excited as they talked about this.

 

[Cherokee_Cruiser]

Did you sign a contract with buyer agent lady?

They do. And it was a thing a few years ago.

But as long as she didn't show you the home that you put an offer on then you owe her nothing.

Technically, the buyer's agent shouldn't be giving you inside information, even if you put in an offer with them.

I hope you get the place.

Honestly, that sounds fishy. In the couple of offers I made this year, even if one agency was handing the buyers and sellers, there were like 10 pages of disclosures to sign, and there were a whole list of "don'ts" Same agent? That was a big no-no.

Real estate everywhere is simply insane. Even in East Bumblefart, Missouri (West Bumblefart is the high rent district). The high interest rates have done exactly zero to tamp it down except at the very bottom. We gave up looking for a place, and we bought some land, got some generic plans off the interwebz and built. We bought a piece of land that was out in the middle of nowhere, and I mean nowhere, outside of a town of 40k in a rural part of a state. I will grant you the road it was on was paved, barely, but no landline service from the phone or cable, so Starlink its going to be.

After we bought, every single piece of property around it sold in less than 3 weeks, and at far more than we paid.

I fully expect to have an unsolicited offer on our house before it is finished. There is crazy, crazy money out there. My neighbors were only nextdoor for two years, and they paid, what I thought at the time, was an insane amount. When they sold, it was even insaner, but it turned out that a company paid the buyers in a paid move transaction.

Oh snap. She found out. How would she know? Did this lady seriously stalk us by searching online property records of ownership???


“
Hi [wife name]! I see you guys bought a house! Congrats! I’m a bit surprised that you decided not to work with me…
”




I told my wife not to respond and just block her.

 

[Richman]

Oh snap. She found out. How would she know? Did this lady seriously stalk us by searching online property records of ownership???


“
Hi [wife name]! I see you guys bought a house! Congrats! I’m a bit surprised that you decided not to work with me…
”




I told my wife not to respond and just block her.

If I were real estate people, I’d be playing it super, super cool right now. Right or wrong, the courts seem to have their number at the moment.

 

[ClearedForOption]

Oh snap. She found out. How would she know? Did this lady seriously stalk us by searching online property records of ownership???


“
Hi [wife name]! I see you guys bought a house! Congrats! I’m a bit surprised that you decided not to work with me…
”




I told my wife not to respond and just block her.

I would guess this warrants the quickest possible text/call on your part to your listing agent to say that, "AgentParasiteX may be on a fishing expedition for a portion of your commission and for your edification we have no contract with them - verbal or otherwise - that would give them a leg to stand on. They were not our agent, nor were they ever a party to the transaction we completed with you" (i.e. under whatever goofy rules they are required to follow to be a part of the "CA Realtor's Mafia" whose only power, really, is the regulation and control of the MLS which is also related to the extortion of sales 'commissions' for being listed in their precious database.)

Really, not your problem. But, if you liked the agent that helped you close, giving them a quick heads up before they get some sort of official complaint/request for arbitration/whatever from their Association would be doing them a solid. (That is, if AgentParasiteX decides to go that way... I have no idea how they fight it out for the cash after the fact. Other than it's a total scam that hurts consumers and the housing market in general leeching 3-6% from each transaction.)

 

[Cherokee_Cruiser]

I would guess this warrants the quickest possible text/call on your part to your listing agent to say that, "AgentParasiteX may be on a fishing expedition for a portion of your commission and for your edification we have no contract with them - verbal or otherwise - that would give them a leg to stand on. They were not our agent, nor were they ever a party to the transaction we completed with you" (i.e. under whatever goofy rules they are required to follow to be a part of the "CA Realtor's Mafia" whose only power, really, is the regulation and control of the MLS which is also related to the extortion of sales 'commissions' for being listed in their precious database.)

Really, not your problem. But, if you liked the agent that helped you close, giving them a quick heads up before they get some sort of official complaint/request for arbitration/whatever from their Association would be doing them a solid. (That is, if AgentParasiteX decides to go that way... I have no idea how they fight it out for the cash after the fact. Other than it's a total scam that hurts consumers and the housing market in general leeching 3-6% from each transaction.)

Eff it. I couldn’t care less. The agent I used was the seller agent. I never met the guy until the open house and offer the next morning.


Let em fight. Though, I doubt they will.

 

[///AMG]

Was just up in BC this weekend. I decided to peruse Redfin.ca to get a feel for the market. If you want to feel better about the US market, do this. Very little to be found (other than small high rise condos) less than 1.5M CAD, which is of course still over 1M USD. If you want something nice out in the west couve, you'd be looking at 2-6M CAD on average. And they do 25 yr terms, with re-negotiated interest rates every few years (like most of the rest of the world other than US). I can't imagine that. So I'd say compared to that, where I am is still very affordable.

 

[Richman]

Was just up in BC this weekend. I decided to peruse Redfin.ca to get a feel for the market. If you want to feel better about the US market, do this. Very little to be found (other than small high rise condos) less than 1.5M CAD, which is of course still over 1M USD. If you want something nice out in the west couve, you'd be looking at 2-6M CAD on average. And they do 25 yr terms, with re-negotiated interest rates every few years (like most of the rest of the world other than US). I can't imagine that. So I'd say compared to that, where I am is still very affordable.

Canada, NZ and Aus are all nuts with regards to real estate. Makes the US look like Seattle in 1971.

 

[Cherokee_Cruiser]

Just saw this realtor.com house description not too far from where I live...



"Welcome to this well priced N Torrance home. Perfect for a larger or extended family or for your investors coming out of a 1031 exchange. Corner lot. Award winning Torrance Schools. Fireplace in living room, cool ocean breezes. Patio area, washer & dryer in own covered area. Copper plumbing, double pane windows."