FSBO's Depreciating assets & a buyer's response!

By
Real Estate Agent with Beach and Luxury Realty, Inc.

 

Short easy read-      and follow    the link below to a  REAL life estate lesson!   Don't miss it!

Finding Buyers for a Diminishing Asset! Hard even on Craigslist? (abridged version)

DEAR READER,

Alright it's time to get real about the market...  Some are finding  the local market isn't as crazy about the product as they were just a few years ago....  the market's simply not being kind to the client's assets.. the lustful want is starting to wane....alas

THE SELLER STARTED OUT WITH A HOT PROPERTY            fresh on the market

Time is taking its toil... and as the weeks and months past... the newly available  comparables  on the market are not only fresher &  better looking   but with  owners  willing to accept  less dollars to make the deal..

Not only have they less age, but come  with more curb appeal.  The owners don't over estimate their value and know  you have to be willing to give and take sometimes and maybe take a little less in the bargain...and are often nicer and a lot easier to deal with... too!

To put it simply, they are willing to negotiate and work toward a successful closing.

 Even If that means putting out a little more for less money to close the deal.. so be it.

They realize by  waiting around, their assets are diminishing by the day as their market value declines....

Now some just don't want to believe the new reality, but the financial experts are weighing in with their expert opinions...  they've seen your property types go through  these cycles many times over the years before.... with the same results.

What will THE SELLER do... it's soon going to need  more repair ,maintenance , even maybe a  remodeling face lift to stay current and somewhat competitive on the market. But the real age, even with a makeover, still shows.and that's yet another costly expense  on a depreciating asset. That's only going to cost more as the years go by.

YET THE SELLER KEEPS INSISTING SHE'S GOT THE BEST ON THE MARKET AND  WANTS A MUCH HIGHER PRICE!

Now where to find a Buyer?          when you want a quick close..

 

                                     Maybe it's time to      TRY CRAIGSLIST!_________________________________

O.K. SO SHE TRYs GOING  ONLINE AND PUT IN ALL OUT THERE   for all  to  judge...

but it's a diminishing asset  and before the seller  can close and seal the deal...& turn the looker into the buyer....There's that BANK APPRAISAL! -  the deal's value must be determined.

will it really be worth the payments.?... will the paperwork finally get signed, with the deal finally consummated ? or will the seller just have to lease out those depreciating assets.

Go check  out the result!  Here's the link:

http://news.yahoo.com/s/nm/20071010/od_nm/newyork_husband_dc_1

 

http://news.yahoo.com/s/nm/20071010/od_nm/newyork_husband_dc_1  

Just come back and let me know if you  'enjoyed'  this  depreciating assets tale.  Read it! Trust me there's a beauty of a real estate lesson in there.. maybe if she had only used a good agent?

 

Comments (19)

Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros
I have used Craigs list as well with varied results. I guess the market I am in has not had a big run up leading to a diminishing. So I have a hard time understanding the dynamics of your area. But I do sympathize as I have had a property not appraise in the past
Oct 12, 2007 01:13 AM
Kelly Sibilsky
Licensed Through Referral Connection, LTD. - Lake Zurich, IL

Ha ha! A little Friday humor...I like it.

Oct 12, 2007 01:16 AM
Roy Kotz
NPDodge - Papillion, NE
That was pretty funny. I hope the gold digger was a least a little embarrassed. I am supried that she had the nerve topost it to craigs list in the first place.
Oct 12, 2007 01:39 AM
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

 

Well Charlie,

     Thanks for the comment..    our prices have relaxed some, but compared to other coastal areas we'll still a low price market for beach & near beach properties... (unlike the self-described "superficial rich girl  in the 'beauty of life lesson' in the linked story- hope you enjoyed it! - was a real estate lesson or two in the banker's "crappy deal" analysis- don't you think?)

Anyway sure hope your market continues to see stable and strong growth.. you get some of our residents buying summer places no doubt...

 But to your comments.   sales have slowed back to pre 911 levels for now, and some drop in prices , but still lower compared nationally (don't forget NO  STATE INCOME TAX  here!)

_Our area's likely not affected as much as others... still some overextended and some speculators- still 

good properties are always a find..

Have a great weekend....

Oct 12, 2007 01:45 AM
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi,

I like your post that is great..............Good Luck!!!!!!!!!!!

Anthony

Oct 12, 2007 02:05 AM
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

 

Kelly,

    Thanks for following the link and coming back to comment... Glad someone else thought  there was a bit of humour in this true story..   And when I first saw it, my mind went straight to another good REAL ESTATE LESSON!

Makes you think about some things in life- and its importance... or WHAT'S NOT!

 Not everyone ages well,  and its often that self-described "superficial" that contributes greatly to it!   but humor seems to be an age-defying antidote in itself.. of having a good personality seems to be what seems best to help men &   women age gracefully... ( o.k.  well yes throw in that good nutrition and exercise stuff too. if you're going there it helps to have good genes along with it).

 Anyway, I wasn't sure anybody would go to the link and then back stroke to leave a message.  I did a much longer  lead- in blog (thought it made the "real estate comparison" easier to follow): http://activerain.com/blogs/fl_blr_therealty4u

But apparently it was too long for anyone to want to read...  maybe I'll learn. But DO APPRECIATE all you who do comment.. even if it should be negative... 

But sure hope your WEEKEND is a Positive One for YOU!   and don't give up on Friday too quick just yet!

 

Oct 12, 2007 02:13 AM
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

 

Well Roy,  I guess when you wear the title "superficial" with pride, shame doesn't come into the picture..embarrassed? well she did take the ad down.... but that was probably only because she had NO TAKERS... or did she??  Hope someday the media gives a update..

Maybe some lucky agent will do a Central Park WEST  transaction..

Must be nice to work a market where even the middle class is $1,000,000 or so a year!!!!    doesn't really seem she's making her self reported  " half a million a year" in either accounting or economics.

but at least she's honest enough to tell , at least, on craigslist who she is and what she wants...

But that banker (who seems to want to stay anonymous - why not be proud  of his remarks too) - he might parlay it into a reality TV show!  maybe   BANKER'S ANALYSIS       " Just GOING  to TELL you LIKE it IS!"

 

Oct 12, 2007 02:30 AM
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

 

Thanks Anthony! 

Glad you like this 'beauty' of a story too!

sure hope you have a great weekend too..

See you're in New York... not sure how far from New York City; but if this "Depreciating ASSET" finds somebody suitable ( and maybe she'll turn down less dates now-  maybe that $300,000 a year man doesn't look as bad anymore)   maybe you can do that Central Park WEST deal- then again  if she doesn't secure a middle class multimillionaire- you're have to find her something a little further out...

BEST of Business Success your way too!!

Oct 12, 2007 02:39 AM
Cris Burlew
Beach & Luxury Realty, Inc. - Saint Pete Beach, FL
Broker ~ St Pete Beach FL Real Estate
Very good analogy and way to use the article of the gold digger and the banker. I loved his response and stating that she was a depreciating asset...great sense of humor there.
Oct 12, 2007 11:52 AM
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

 

Hi Cris,

            Well, I thought it not only showed some good humour but was a good real estate comparison story too. (Well, when you have real estate on the brain too much I suppose!)   But also a wake up call in many areas when it comes to Over-valuing...

But you've got to give her credit... she knows what she is... and was a little shrewd.. in realty.... as she was trying to use OPM to leverage herself into a fine piece of real estate!!!

            Had to read again that $1,000,000 is just middle class....!!!  Now that would be a  Nice neighborhood to live in.

     She should of realized that at her salary....  her  'dream guy'  would seldom be interested in slumming..--- He's definitely  out of her league!!!   And like the banker revealed-  most know (or learn) they're just leasing those 'trophy wives' for a few years  most of the time!     lol ,   how many see those pre-nupts as simply preplanning for the  buy-out for the coming opt-out! 

             But so glad real estate has been a long term APPRECIATING ASSET! 

            Didn't  know if this story would be considered PC incorrect ?----female  & her  fading beauty.... but just insert a vain male model  for superficial her... see NO OFFENSE! (o.k. insert sun-bleached blond - & stir the pot).... I hope, none really  intented- just stirring in I hope a little humour into the  pot of thought...

       

Oct 12, 2007 07:41 PM
Wayne Miller
San Diego, CA
All your points are well taken, sellers just have to get real if they want to sell.
Oct 13, 2007 01:05 AM
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

 

Hey Wayne,

         Was the abridge intro story just as well, the other posting didn't elicit much response- so maybe all that reading scared them away before they say the link!

          BUT NOT YOU!!!    A QUALITY BEACH & LUXURY REALTY, INC. REALTOR!       You check out it all out and read through even the fine print!

       Hope you're having a great weekend..    Will be looking to see you on the Weekly Reader Report soon!

Oct 13, 2007 02:24 AM
BLR Guy
BLRGUY(Beach & Luxury Realty Inc) - Saint Pete Beach, FL
blreast,I thought I had commented on this..maybe I did just in an email...I must be losing it...LOL The article is hysterical...you know how I love humor;) If she stays on the market too long..she might wanna reduce her price!LOL
Oct 13, 2007 09:20 PM
Keith Perry
Coldwell Banker - Hiram, GA
REALTOR - West Metro Atlanta
LOL...... lease thats sweet. I have a listing under contract contingent on a sale in New Smyrna. How is your market doing?
Oct 14, 2007 12:08 AM
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

 

Keith & Robin-  Like nearly everywhere else,New Smyrna isn't having closings  done as fast as gangbusters as was happening during the boom; but it's still moving - probably more like it's normal numbers previous to that period. 

                          Good property is still Property with demand...   Hopefully what your contract buyer is selling is  such and will move in a reasonable period.... just likely it'll take maybe a little longer than a couple of years past. Not that  "I'll take it!" cann't still be heard on the day of first showing..

As well, some knowledgable buyers are learning the uniqueness not only of some properties but its location in a special place...

                          New Smyrna is a Great Little (20,000 plus) Beach town in Central Florida...  as more become aware of it- (it's just a hour away from Orlando- just miles from Daytona & the Cape)  is likely to demand  as well as desire to be a part of such community (with a continuing appreciation of the arts) unique in its advantages  (the ocean inlet, and Mosquito Lagoon Estuary with its sea trout & reds) to prove not only an investment but continuing retirement haven as well..   Not that many don't come to enjoy their working years too!

             (You probably don't know if your buyer's contingent property is oceanfront, riverfront, or small acreage, or other? Regardless, hopefully they are using a good agent and have priced it right!)

Oct 15, 2007 05:55 AM
BLR Guy
BLRGUY(Beach & Luxury Realty Inc) - Saint Pete Beach, FL
This last post was a long long time ago...anything new coming soon?smileys
Feb 02, 2008 08:56 AM
Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC

Hello blreast there4u

How is your marketing fairing these days?  See you posted this in October.

Jun 19, 2008 02:25 AM
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

BLRGUY...          

 U  know somebody does a lot of his posting in the comments of your blog!

  But sorry, somehow I missed seeing you'd been back to check up and comment ...

           and yes looking at the date on this post     guess it's been a bit longer than we thought ....

lol   so let's see my comments on your posts aren't long enough yet...

and you want me to add some lengthy posts here for you to read too?  

 

    ( Do you really want to have to stay up that  long to read it all?)

 

Sure you wouldn't rather just try some warm milk & cookies and call it a night ?

http://www.flickr.com/photos/ldcross/

 

THAT SURE LOOKS PRETTY GOOD TO ME!

  (o.k. your serving's a bit  skimpy ... but    staff wanted  to taste test  first!)

         

Jun 19, 2008 12:03 PM
blreast therealty4u
Beach and Luxury Realty, Inc. - New Smyrna Beach, FL

Cynthia..

              

              Hope you enjoyed the humour of the links.     The real estate slant is as appropriate as  today,  I think.

 

            This area has adjusted somewhat like others....    but as a coastal area.... projections for growth continue....   

           For various reasons,  Florida may not be the choice for everyone, but for those for whom it is... like the mountains of NC... the old adage about  LOCATION   still matters.

         

            

          

Jun 19, 2008 12:38 PM