It's very interesting to have a real estate discussion with someone for the first time and hear them mention how the market is bad?  I usually counter with how great the market actually is for first time home buyers, investors and buyers in general.  With interest rates at record lows, housing inventory levels high, and market values lower than in past years (depends on your market of course), what a wonderful opportunity it is for someone to purchase a home. 

Somehow, most people associate a good or bad market as coming from the sellers point of view, do not the buyers have a point as well?  Why is it that the general public and media both tend to view the real estate market from one point of view, the sellers?  Maybe the goverment could spend billions of dollars researching why this is so, after all, they spend lots of money on wasteful research projects all the time.

What I really wondered, that I find more interesting, is why sellers beleive that real estate agents should be able to work magic and get them whatever price they feel they need, so they don't have to be accountable for their fiscal irresponsibility when the market value is actually less than what they owe or are willing to sell for.  Try calling a stock broker tomorrow and ask them to sell the stock you purchased at $100 a share, which is currently trading for $45 a share, for at least a $100 a share.  Does this sound reasonable?  Of course not, neither does selling a house for something other than market value!

Get real, get right people, because magic is an illusion!

 

 

 
Posted by Paul McKee on 03/22/2009 06:43 PM   Comments (3)   Pricing in the ActiveRain Channel   pricing, selling, listing, buyers, value, market, real estate, economics  
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3 Comments on Market Value is What? Be a Magician Sweetie and Get Me My Price!

MAR
22
2009
422,047 Points 7 Featured Posts Called Shot Master

And most sellers will need another place to live.  So, they save on their next purchase.  Unless they are broke. 
7:21pm • #1

Nice analogy to a stock broker. Nice post.
7:29pm • #2
APR
07
2009

Most people who talk about the markets get their info from the Channel 13 news or the front page of the paper.  It's simple, uneducated parroting which is completely unraveled when a question is thrown into the mix.  "Wow, the market is that bad?  How many houses sold in your county last month?"  That puts an end to it quickly!

 

As a mortgage broker, I think the market is great.  Rates are bottom basement, first time home buyers are getting the $8K and the only way to go is up.  I hope this continues!
12:40pm • #3


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Paul McKee

Portland, ME

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Keller Williams Realty - The Hatcher Group

Address: 6 Deering Street, Portland, ME, 04101

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