When enthusiasm overcomes logic, disappointment ensues.This happens more often than you think. I get a call from a prospective “buyer” about a deal that they found on the Internet that appears too good to be true. When they start speaking, they can barely contain their excitement.

“Can I really buy a house like that for $900 or $1200 or $1500?”

Of course most of these houses are in great neighborhoods and the photos show them to be in excellent condition. There is only one problem:

The “price” that is listed is NOT the sales price, but the amount of monthly rent. It seems that a lot of the big IDX assimilators do not always make that distinction very clear.

Logic tells you that this is not the sales price. After all, if you really could purchase a house like that for a price like that, it would never make it to the MLS.

Blame the media if you want, but there are still a lot of people out there that truly believe that you can get a good house for next to nothing.

And they are so disappointed to discover that good houses still demand a fair price!

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18 Comments on When enthusiasm overcomes logic, disappointment ensues.

AUG
01
2011
1,053,140 Points 2 Featured Posts Called Shot Master

SOOO true Richard !  YOU are right on point here.  Have a great Monday and successful week!
8:09am • #1
795,134 Points 80 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Richard, so true...many times it has happened to me as well...and some of them get angry at me...i direct them to my web site that is much more transparent about the listing...and remind them of the age old adage...best
8:10am • #2
354,306 Points 30 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Richard, I just wish there was a source to go to on the INTERNET to keep those people accountable for their misrepresentation. I can't find fault with the people who read those ads, because unfortunately, they believe it's true and then people start talking to them about how they know somebody and they got a great deal, and blah, blah, blah.
8:12am • #3
201,994 Points

If the someone thinks they can buy a home for $1,500 they aren't very realistic. Is there other copy that's talks about it being a rental?
8:21am • #4
1,946,159 Points 477 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Or, it's a property in the IDX that is, when reviewing the listing, a property scheduled for AUCTION.

 
8:24am • #5
1,050,176 Points 284 Featured Posts Outside Blog Called Shot Master

Richard, We've seen the same thing when someone is looking at foreclosures.  They see the price of the judgement and not the actual price of the home.  Do you really think you can get a $400k home for $110k?
8:41am • #6
518,266 Points 12 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

If we could get that great house for $900 the real estate agents would buy them long before they hit the public :-)
8:50am • #7
297,104 Points 20 Featured Posts Outside Blog Hit Router Attended Rain Camp Called Shot Master

So true, I wonder why common sense doesn't take over!  People are so wishful.
8:53am • #8
250,339 Points 26 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I have had that happen a couple of times on lease listings.  The buyer wants to know what is wrong with the home and then I explain it is a monthly lease price not for sale.  I think some people don't employ good sense.  Glad to find that this lack of thinking isn't contained to just our Texas opportunity seekers.  All the best for a great week!
9:00am • #9
761,333 Points 61 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Oh so true.  The old saying "If it is too good to be true then it probably isn't true!" is dead on the money in these instances.  People, get real.
9:04am • #10
559,525 Points 18 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Or the amount listed is the amount of a lien...I always tell people if it were that price, don't you think some savvy investor (or real estate agent) would have snatched it up already? 
9:38am • #11
811,355 Points 163 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Richard, I am just sitting here shaking my head. If it seems to good to be true it really, really is.

 
9:53am • #12
644,866 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

It seems many  people are still unrealistic and greedy too.
11:56am • #13
397,895 Points 45 Featured Posts Called Shot Master

Richard, I'm always amazed when people make those assumptions.  Come on!?  It had to be a mistake.

"Of course you can buy an ocean front mansion for $6000!"  Yes, that is what we get for one week's rent.  Go figure.
12:30pm • #14
1,401,043 Points 54 Featured Posts Outside Blog Called Shot Master

Richard...way to many people just look at the picturesand don't read what it is all about.
2:54pm • #15
1,388,795 Points 27 Featured Posts Hit Router Called Shot Master

Occasionally, very rarely, a realy good deals comes up.  Everyone in the business knows it's a good deal.  By the time an Internet browsing client sees it, it's under contract and no longer available.
4:04pm • #16
1,097,094 Points 94 Featured Posts Outside Blog Hit Router Attended Rain Camp Called Shot Master

Richard,

I've had that call too...my stock response is "if it were that good a deal, don't you think a Realtor would have already scooped it up?"

Rich
7:50pm • #17
AUG
02
2011
344,656 Points 5 Featured Posts Called Shot Master

Soooo true Richard, I have many occasion agents laziness or mistake that prompted the call from a buyer we saw a beautiful home for a low price.
8:20am • #18


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Richard Weisser

Richard Weisser Coweta Newnan Homes for Sale

Newnan, GA

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Better Homes and Gardens Real Estate Metro Brokers

Address: 209 Newnan Crossing Bypass, Newnan, GA, 30265

Office Phone: (770) 827-6225

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Author Bio: Richard Weisser is a Georgia real estate broker, licensed auctioneer, a candidate for GA House District 71 and has been writing about Georgia Real Estate since 1999.

Coweta Fayette Real Estate offers opinions and helpful information to consumers and real estate professionals in the Coweta County Georgia area.

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