bostonbubble.com Forum Index bostonbubble.com
Boston Bubble - Boston Real Estate Analysis
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

SPONSORED LINKS

Advertise on Boston Bubble
Buyer brokers and motivated
sellers, reach potential buyers.
www.bostonbubble.com

YOUR AD HERE

 
Go to: Boston real estate bubble fact list with references
More Boston Bubble News...
DISCLAIMER: The information provided on this website and in the associated forums comes with ABSOLUTELY NO WARRANTY, expressed or implied. You assume all risk for your own use of the information provided as the accuracy of the information is in no way guaranteed. As always, cross check information that you would deem useful against multiple, reliable, independent resources. The opinions expressed belong to the individual authors and not necessarily to other parties.

10 mistakes buyers make

 
Post new topic   Reply to topic    bostonbubble.com Forum Index -> Greater Boston Real Estate & Beyond
View previous topic :: View next topic  
Author Message
Divadkire
Guest





PostPosted: Mon Jun 11, 2007 12:38 pm GMT    Post subject: 10 mistakes buyers make Reply with quote

http://www.boston.com/news/globe/magazine/articles/2007/06/10/10_mistakes/?p1=MEWell_Pos3

After reading this article I can take away several points,

1. This story is a plant, she gives some real advice (albeit the king of the obvious might have penned it) and slip in some nonsense to sow fear in potential buyers and get them to act.

2. I would add this to the top of the list " Do not believe realtors, they are out to make a buck"

Nobody in their right mind has uttered the phrase I wish I bought in 2005 since possibly 2005. Facts will trump BS any day and stories like the one above are a clear example of trying to use fear to get buyers to act and buy that sinking investment.

3. The use of emotion to trigger more sales is a tactic as old creation. The baloney last paragraph slays me.
Back to top
john p



Joined: 10 Mar 2006
Posts: 1820

PostPosted: Mon Jun 11, 2007 1:19 pm GMT    Post subject: Reply with quote

Yes, that comment about the person wishing that they bought in 2005 was a real tell sign. I was sitting with my bulldog and cat again and sipping on some Gentleman Jack when I read it. I asked the two of them if they thought it sounded right and we all agreed that it was b.s.
Back to top
View user's profile Send private message
Hank



Joined: 27 Apr 2007
Posts: 37

PostPosted: Mon Jun 11, 2007 1:53 pm GMT    Post subject: Reply with quote

Someone aught to mail her some Tulip bulbs and a note to remind her that at one point someone could have bought half of Amsterdam for a crate of the bulbs.

The real give-away was the buy on emotion, not on fact.
Back to top
View user's profile Send private message
guest type
Guest





PostPosted: Mon Jun 11, 2007 2:15 pm GMT    Post subject: Reply with quote

It was posted on this site.

http://bostonreb.com/blog/

He calls it an excellent article. I really wanted to respond with vitriol but I held my tongue.

I think the last point is one of the reasons that foreclosures are shooting up.

I really wonder what would happen if people on purchased what they could afford. My bet is that I could afford a house. My girlfriend and I make 20% more than the median income in our zip code yet we cannot find a place we can afford by classical standards. I would imagine most in the area could not afford their houses if they were forced to rebuy at today's prices.
Back to top
john p



Joined: 10 Mar 2006
Posts: 1820

PostPosted: Mon Jun 11, 2007 3:00 pm GMT    Post subject: Reply with quote

That guy's alright.

The part about buying on emotion was lousy advice I agree, as well as the absolutely stupid comment about 2005 being the "time to buy".

Guys like this realtor remind us that although some of this stuff sounds absurd and downright stupid, it is the environment we are operating in. It is a broad reality that you need to be aware of so that you prepare yourself to transcend it. What the realtor needs to understand is that the see-saw is tipping the other direction fast and even many of the dumb ones can look up at the scoreboard and see that 2005 was not the right time to buy. To stand beside someone that says stupid things makes people question their judgement. This guy has said some pretty smart things and is very giving and open so I'll reread the article at some point to see if there are any decent take-aways and just squint and wince through the dump parts...
Back to top
View user's profile Send private message
john p



Joined: 10 Mar 2006
Posts: 1820

PostPosted: Mon Jun 11, 2007 4:06 pm GMT    Post subject: Reply with quote

Ahhh, I now see why a buyers agent would love that article. It made a point about how it wasn't a good idea to spend too much time looking because you might end up walking past a good deal because you don't feel ready like you've done your due dilligence. The article did imply that if you hired a seasoned pro, they could cut your time down and let you know what a good deal is. The problem is that people don't have the trust in realtors right now to submit to their experience. That is reasonable when you look at the track record of what they have predicted in the past couple of years. It is too bad for the decent realtors that do have a long term strategy of building their business. For them, I'd say build your business brick by brick and grow it fundamentally.

Again, a buyers agent wants to make money and doesn't want to waste too much time showing properties. I do believe that you need to have done some ground work prior to getting a buyers agent. I think you should do your own drive-bys before you ask them to show you a place as well. Bad buyers could create bad realtors as well. If buyers waste realtors time, realtors in turn will play the numbers like a player out at a club trying to hook up with girls. When the girls say "there aren't any good guys out there, and then chase all the "bad guys", they get what they deserve. I think garbage in- garbage out. If you research, you'll find a good realtor to begin with, if they understand that you're putting in a good effort, they'll fight hard to close for you. If they know you're prepared, they can't b.s. you and if you show them that you're all business they won't try to manipulate your emotions or play you against your wife etc. The good realtors now have to pay the price for all the bad realtors that have given them a bad name.
Back to top
View user's profile Send private message
Divadkire
Guest





PostPosted: Mon Jun 11, 2007 4:32 pm GMT    Post subject: 10 Mistakes Reply with quote

I also saw this article on the Boston Realestate Blog last week, Thats why It was a DejaVu when I saw it in the Sunday Globe.

My Mom thinks I am crazy for sitting out the market, she made a snide comment to me about the article to which I replied, That is called a plant story mom. It is planted like a seed by the realestate industry. She does not have the same disdain for the Marketers that I do.

I also like the Bosten RE blog. He has some good points yet he is still in the business of selling other peoples property.

Realtors play on emotion. Banks don't care how bad you feel when they foreclose.
Back to top
Dorchester grandma
Guest





PostPosted: Mon Jun 11, 2007 5:06 pm GMT    Post subject: Good honest realtor Reply with quote

The toughest buyer for a realtor is one who does not have enough money to easily buy in today's market therefore has limited options. My realtor has been assisting me for a long time and has shown me many properties including attending 3 house inspections with me.

This exceptional realtor, who is based in Haverhill, is now going to Lynn to show me properties. I am looking at 3 single families tomorrow, bank owned. In my price range I have to decide which problem I can live with, extra long commute, lack of space, high crime or run down area, major highway or gas station a few yards away, old dilapidated structure, asbestos, water damage etc, etc. My realtor understands this and has been very patient. He is a pro and very adept at negotiating price. He is one of the good guys in the field and I would recommend him to anyone.
Back to top
john p



Joined: 10 Mar 2006
Posts: 1820

PostPosted: Mon Jun 11, 2007 5:11 pm GMT    Post subject: Reply with quote

Don't let the critics get to you; it's your money, your risk, and you'll be holding the bag when the bank wants their money.

I think there is some truth to the points in the articles, but look at them like challenges to overcome. For instance, if you do stumble on to something that looks good, how do you not get excited and how do you weigh that with the feeling like you've left another opportunity on the table? The answer is to firehose the situation with effort. Get in your car and drive in and out of as many neighborhoods as you can, cover every listing online and hit it hard. It may take a little longer, but you'll appreciate your choice more if you put the time in. If you come around and end up liking what the realtor suggested, great. It's your decision. There are so many deals out there now, I wouldn't get hung up on losing a few. We lost a bunch, but ended up with one that was better than anything we had looked at prior. Check out my posts last year, I knew more about what was going on than the highest people in the MAR, NAR. If they had so much experience, how did a joe schmoe like me skate circles around them?
Back to top
View user's profile Send private message
BoobaK
Guest





PostPosted: Tue Jun 12, 2007 1:50 pm GMT    Post subject: I wish I spent all my money to buy Internet stock!? Reply with quote

john p wrote:
Yes, that comment about the person wishing that they bought in 2005 was a real tell sign. I was sitting with my bulldog and cat again and sipping on some Gentleman Jack when I read it. I asked the two of them if they thought it sounded right and we all agreed that it was b.s.


Yeah, it's like telling "I wish I spent all my money to buy Internet stock in the beginning of 2001" Very Happy Very Happy
Man, why they think they readers are so dumb? Rolling Eyes
Although, reading that sales are up in Mass again and that one woman told the story she recently outbid someone I'm not sure now they thoughts of readers is wrong Razz
Back to top
BoobaK
Guest





PostPosted: Tue Jun 12, 2007 1:59 pm GMT    Post subject: PRICES! Reply with quote

guest type wrote:
It was posted on this site.
I really wonder what would happen if people on purchased what they could afford. My bet is that I could afford a house. My girlfriend and I make 20% more than the median income in our zip code yet we cannot find a place we can afford by classical standards. I would imagine most in the area could not afford their houses if they were forced to rebuy at today's prices.


Yes, they can tell you whatever they want about demographic, strong employment, etc., but the single factor overweight everything else: PRICES!
Our household income is more than as twice as higher than the average one in my area. We also have some savings.
Yet, all we can safely afford is a miserable 50-70 years old "red neck shed".
THe worst thing about the "perty" that is still going on, i.e. buyers still buy those rediculously overpriced house, is the longer it lasts the more painful the end will be! And not only for those "buyers", but for all of us!
Back to top
Display posts from previous:   
Post new topic   Reply to topic    bostonbubble.com Forum Index -> Greater Boston Real Estate & Beyond All times are GMT
Page 1 of 1

 
Jump to:  
You can post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Forum posts are owned by the original posters.
Forum boards are Copyright 2005 - present, bostonbubble.com.
Privacy policy in effect.
Powered by phpBB © 2001, 2005 phpBB Group