Real Estate Magic! : I'm The Media Version 3.0

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I'm The Media Version 3.0

By: Candice A Donofrio
Thursday, February 07, 2008 8:47 AM

In keeping with my mantra "We're The Media", I want to share a cute little tale about a complaining 'suspect not prospect' who phoned yesterday while I was training a new agent:

First, he called to tell me my flyer box was empty and I had failed to keep current flyers in the box. I had actually removed the flyers because we had rain. Did you want to know the price? (a DUH, or so you'd think)

Negatory -- he was sure it was overpriced because these agents around here don't know how to price properties. And he KNOWS real estate 'cuz he's a BUILDER! In a state nowhere near AZ. (I am refraining from laughter so far)

Well sir, I sold the last house on this street this past Summer for 40k more than this one is listed for. We had no problem with appraisal as there are comps that support the price. This house is actually listed below market right now. (I did not inform him that it just got the OK to go short sale and would be someone's super deal soon)

I smiled my voice. Got him to talk a bit more. Mostly bitching about how agents never call him back (see my other recent blog about red flags!) and the builders are living high from the dollars they made off building cheap and selling high (I didn't have the heart to tell him that builder is probably bankrupt now from a huge loss they took on another subdivision that didn't fly . . . but as a dumb agent, I don't know anything).

And then . . .

He said that for the last 2 years, he's been renting. For 1200 a month! Gasp! Where the market rents are around 800. Maybe he shouldn't have bought but he sure should have moved!

A mortgage on the price range he was looking at would have been around 1000 PITI if he had decent credit and a down payment.

And he basically flushed 30k while he was carping about the market and agents! His landlord should be happy, but I can see why he isn't.

So listen to me, I'm the media!

Check with your agent and do some basic math. You may be ready to buy. You may be overdue!

A new mantra will be chanted soon: "If I had only bought in 08" . . . remember that golden not-so-oldie?

Comments

Member Since '06	Sharron and Steve Lobman said: I like the new mantra! Most of my recent buyers are smart people who agree with "If I had only bought in '08!" February 7, 2008 10:30 AM
Member Since '06	Chantal Gakwaya said: Candice, I love it. You can bet they'll be singing that in a few years from now. February 7, 2008 11:04 AM
Member Since '07	Nate Covington said: Candace, I agree with your mantra. What planet are some of these people from? I am a builder here in Idaho as well, and many people coming in here are the same as your guy from timbuktu. You can't retire from one home sale! Duh!! February 7, 2008 12:10 PM
Member Since '07	Lloyd LaTour said: Is he a relative of Marty Umell? February 7, 2008 2:08 PM
Member Since '07	Candice A Donofrio said: LOL! Only if Marty is from 'somewhere quite a ways east of here'. It's always funny to me that people call agents to argue with them. I buy real estate too, in and out of state. If it's not my service area, I'm hiring an agent. As far as I'm concerned, the agent I am dealing with is the EXPERT, not me. Until they prove otherwise I voice my wants and needs with respect, then I will shut my trap and defer to their wise counsel. Otherwise, why bother? Unfortunately, some folks don't want solutions. They like their problems just fine the way they are. ;) February 7, 2008 2:22 PM
Member Since '03	Gregory Bain said: Candice, at the NJ Shore, I always talk to the people in terms of waves. While the wave was building, sellers wanted to be re-assured that the property wouldn't be flipped in six months for $50,000 more than what for what they were selling it. It seems like just yesterday I was telling them that a surfer doesn't ride at the top of the wave, but at the curl. They almost always wanted some kind of gaurantee that this was as much as they could get and to get out while the getting is good. Only one seller has ever thanked me for telling him not to be stupid. Today, the buyers want me to gaurantee that the house they want to buy will be worth the same or more tomorrow. I can't tell them that, because I don't know if the wave they were riding has crashed. I am always cutting out to the next wave. But, people will know when the bottom has been reached as soon as they can't get that bargain they wanted for that price anymore. They will have missed the crash of the wave and be paddling out to catch the next one. They can't beleive it when they are told that a house has multiple offers or was listed and sold in two weeks. To most people, a house is not just an investment - it is a way of life. Homeowners are different than renters. That's why there is such worry about our market. We are news worthy! February 7, 2008 9:43 PM
Member Since '03	Ginny Lee's Team said: Hi Gregory, I like that ride the wave! Candice, I think you were really nice to that Guy...you have a lot of patience. My little Yorkie, Jolee says hi to your puppy but she is still scared. I like the saying I am great because I bought in 2008 that should be our new motto....! February 10, 2008 3:01 PM
Member Since '07	Candice A Donofrio said: I know, I am a really good actress! :) Lunie would not hurt any other pups. She loves them and she even has a stuffed kitty she sleeps with. She's a wuss! February 11, 2008 5:08 PM