I CARE! MY BUYERS CARE! And you as the listing agent should care! I just have to get some things off my chest! We all know this is a tough market! Even areas that were barely hit by the huge decline are seeing slow down and we are working very hard with qualified buyers to move this market along.
Now, I don't want to offend anyone - but I am tired of hearing "I only work with Sellers", "I never work with buyers", well if what I am saying offends you then maybe what you have said offends me. Oops did I say that out-loud? LOL!! Ninety percent of my business since 1994 has been with buyers. My market niche is new construction, and until 2008 that is all I did. I was usually a project manager which meant in most cases I ran the show and I was a buyer's agent.
Having left the new construction arena at the end of 2007 I am still drawn to buyers - love them! There is nothing more rewarding than that 1st time-buyer or that military buyer - NOTHING!! To see a young family realize that dream of honest home ownership is a real high! Like a night on the town hanging out of a Hummer stretch limo! I love it!!
Ok - off track there a tad! On to my buyers. My buyers come in all forms and all economic backgrounds. I have buyers right now in the $150,000 ranges and buyers in the $550,000 range. Remember all real estate is local and I am so darn sick and tired of everyone thinking that a house isn't a nice home unless it is over a certain price. What is that price? Is it over $300k, over $400k? Why do we allow the market to be filled with over priced homes that are in dire need of repairs and CLEANING! Why do we (as an industry) publish in the public remark section words like, "who cares"! Way to make it tough on the agent that is going to bring you buyers!
I came into this business when a starter home was under $80K, those homes today are selling for $280K.. Ask yourself what the median income for your area is and then see if you are a "housing snob". You know what the median in my market is? Bremerton - $30,950, Port Orchard - $34,020, Poulsbo - $38,875 and Silverdale - $48,164.
Now you do the math and figure what types of loans, and I mean "honest" loans should these families with kiddos not qualify for but what loan would be the best for a family’s budget? I always tell my clients that it isn't "WHAT" you qualify for it is "HOW MUCH" you want to write a check out every month for years and years! There is a difference!
I am tired of researching/showing homes that have that "as-is", needs repairs, needs some TLC when in reality the agent needs to type into the remarks section the truth, as in, "piece of crap", floors falling in, POS! You either get that home to a point that it is presentable or get that home to a point that is presentable! (OR PRICE IT RIGHT!) I guess that is why you only have 3 photos up.
Yes, I would say that in Kitsap County we still need a price reduction! I am tired of making the offers and working my butt off!! I am tired of the back and forth, PRICE IT RIGHT! So I don't have such a time putting together that offer!
- House needs a little TLC, but is offered for a great price. ($198,000)
- This house is ready for all your improvements ($214,000)
And my favorite
- Needs some love, but at this price...who cares! ($225,000) - ok here is the math
Payment with taxes and insurance - *$1609.00 - so what type of income is needed? I am not a lender so don't bust me out for this but a conservative figure of the gross annual income would be somewhere in the area of $65,000-$70,000 to qualify for the "Needs some love, but at this price...who cares?!" house.
Now maybe it's just me but I know lots of people that make under that $65,000 who are financially responsible with little debt, some savings and just want to realize the American dream, so don't give me the "who cares"! That is being a "housing snob"! Go re-check your market!
So are you a "housing snob"? What's the market like where you are? Is $225,000 a piece of crap house?
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