Comments on: “Buyer’s Market?” No Such Thing As a “Good Deal” http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html Fri, 27 Jan 2012 18:42:01 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: FranklyRealty.com Trust Me I’m A REALTOR » UP 14%!? No, Down 26.2%!? DATA. What Is It Good For? http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-3379 FranklyRealty.com Trust Me I’m A REALTOR » UP 14%!? No, Down 26.2%!? DATA. What Is It Good For? Sun, 31 May 2009 04:36:31 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-3379 [...] And even if you DID believe the data, what then? It is still useless! So, if Herndon is one of the few zip codes that are UP (as well as 22046, 22041,22309), what?, you should buy there? Or are they implying that you should buy in the zip code that they say is down 10-19% (22102, 22124, 22031, 22030, 20124)? Since they are a better “deal?” [...] [...] And even if you DID believe the data, what then? It is still useless! So, if Herndon is one of the few zip codes that are UP (as well as 22046, 22041,22309), what?, you should buy there? Or are they implying that you should buy in the zip code that they say is down 10-19% (22102, 22124, 22031, 22030, 20124)? Since they are a better “deal?” [...]

]]> By: FRANK LL0SA Broker http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-2167 FRANK LL0SA Broker Tue, 24 Apr 2007 16:39:00 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-2167 <b>Million strikes again!</b><br/>You should check out my blog on ActiveRain, I post more frequently there and before I post the polished version here.<br/><br/>Oh and you'll love my post on buyer agents being offered 1 penny commissions. How will the buyer agent handle THAT when they promise "we are free and the buyer pays our commission" Million strikes again!
You should check out my blog on ActiveRain, I post more frequently there and before I post the polished version here.

Oh and you’ll love my post on buyer agents being offered 1 penny commissions. How will the buyer agent handle THAT when they promise “we are free and the buyer pays our commission”

]]> By: million http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-2166 million Tue, 24 Apr 2007 13:12:00 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-2166 just got the below in an email today... <br/><br/>"...all of our work finding you the right home and mortgage ~ as well as all of our other services ~ are paid for by the home seller; they won't cost you anything!"<br/><br/>do all Realtors lob this one at homebuyers as a litmus test to see if we're complete idiots? just got the below in an email today…

“…all of our work finding you the right home and mortgage ~ as well as all of our other services ~ are paid for by the home seller; they won’t cost you anything!”

do all Realtors lob this one at homebuyers as a litmus test to see if we’re complete idiots?

]]> By: FRANK LL0SA Broker http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-2165 FRANK LL0SA Broker Fri, 13 Apr 2007 14:13:00 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-2165 Hey Dan,<br/>Good to hear that you are using my CRA system. <br/><br/>As for the "how I arrive at an offering price". Ouch, that is so old school. Try the <b>Vegas Odds</b> system where the CLIENT picks the price based on the odds that you give certain prices going through.<br/><br/>Frank Hey Dan,
Good to hear that you are using my CRA system.

As for the “how I arrive at an offering price”. Ouch, that is so old school. Try the Vegas Odds system where the CLIENT picks the price based on the odds that you give certain prices going through.

Frank

]]> By: Dan- Realtor http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-2164 Dan- Realtor Fri, 13 Apr 2007 14:11:00 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-2164 <b>Yet another good article! </b><br/><br/>I was out with a client last night and we had this very discussion -- value vs. savings. The guy's a first time homebuyer and he had some good questions about the buying process. <br/><br/>He asked me how I placed value on a property and a long chat about it ensued. I promised to give him access to all of the information I had in terms of comps and other methodologies (<b>I do the CRA too</b>, tells me who I'm up against) so that he would thoroughly understand <b>how I arrive at an offering price</b>, with the caveat that he ultimately made the decision about how much to offer.<br/> <br/>Dan Yet another good article!

I was out with a client last night and we had this very discussion — value vs. savings. The guy’s a first time homebuyer and he had some good questions about the buying process.

He asked me how I placed value on a property and a long chat about it ensued. I promised to give him access to all of the information I had in terms of comps and other methodologies (I do the CRA too, tells me who I’m up against) so that he would thoroughly understand how I arrive at an offering price, with the caveat that he ultimately made the decision about how much to offer.

Dan

]]> By: FRANK LL0SA Broker http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-2163 FRANK LL0SA Broker Fri, 13 Apr 2007 14:06:00 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-2163 Thanks D'Ann for the <b>typo fix.</b><br/>Damn magazines trying to single handedly new rules. Did you know in Miami sometimes it is the NORM to start 10-20-30% under? And I heard in Calif the system is totally different.<br/><br/>Yeah, I also get asked if there is a rule of thumb as to what percentage under list to start. It doesn't work that way. <br/><br/>But my other blog did run an analysis that on AVERAGE homes in Arlington closed 8% lower than their INITIAL list price. But that is Average DOM etc. If there is a new listing that is priced right, it WILL sell in 1 or 2 weeks and you <b>might loose a good deal.</b> Wait, I mean a decent deal, I mean a <b>"relatively better deal than other listings."</b><br/><br/><b>Yeah, there you go!</b> Thanks D’Ann for the typo fix.
Damn magazines trying to single handedly new rules. Did you know in Miami sometimes it is the NORM to start 10-20-30% under? And I heard in Calif the system is totally different.

Yeah, I also get asked if there is a rule of thumb as to what percentage under list to start. It doesn’t work that way.

But my other blog did run an analysis that on AVERAGE homes in Arlington closed 8% lower than their INITIAL list price. But that is Average DOM etc. If there is a new listing that is priced right, it WILL sell in 1 or 2 weeks and you might loose a good deal. Wait, I mean a decent deal, I mean a “relatively better deal than other listings.”

Yeah, there you go!

]]> By: D'Ann Faught http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-2162 D'Ann Faught Fri, 13 Apr 2007 14:02:00 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-2162 Great blog! This is something I am always trying to explain to my buyers...especially difficult when money magazine is recommending they start at 10-15% below asking...not taking into account where the property is priced and the property itself! <br/> <br/>You did have a typo though - "More recently I had a client (that found me 100% through this blog) that I helped put a house under contract fopr a good deal"<br/><br/>-- <br/>D'Ann Faught Great blog! This is something I am always trying to explain to my buyers…especially difficult when money magazine is recommending they start at 10-15% below asking…not taking into account where the property is priced and the property itself!

You did have a typo though – “More recently I had a client (that found me 100% through this blog) that I helped put a house under contract fopr a good deal”

–
D’Ann Faught

]]> By: Jay -- Arlington Virginia Condos http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-2161 Jay -- Arlington Virginia Condos Fri, 13 Apr 2007 12:55:00 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-2161 Excellent post as usual, Frank. The indecent proposal exemplifies how well you think outside of the box to get to serve your buyers and sellers superbly. And thanks for the lesson on the indecent proposal. That's guerrilla negotiating.... :) Excellent post as usual, Frank. The indecent proposal exemplifies how well you think outside of the box to get to serve your buyers and sellers superbly. And thanks for the lesson on the indecent proposal. That’s guerrilla negotiating…. :)

]]> By: Renée Burrows ~ Realtor® ~ Las Vegas Valley! http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-2159 Renée Burrows ~ Realtor® ~ Las Vegas Valley! Fri, 13 Apr 2007 05:52:00 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-2159 Frank: I think I am very in love with you sometimes :) Frank: I think I am very in love with you sometimes :)

]]> By: Tchaka Owen http://blog.franklyrealty.com/2007/04/buyers-market-no-such-thing-as-good.html/comment-page-1#comment-2160 Tchaka Owen Fri, 13 Apr 2007 05:52:00 +0000 http://franktempblog.wordpress.com/2007/04/12/buyers-market-no-such-thing-as-a-good-deal/#comment-2160 What are you talking about, Frank? I'm in FL where list price rules. So what if the $600k list house is only worth $450k? I'll get you a great deal for $100k below list. I'm a rockstar!!<br/><br/>Hahaha, I do like the Saks reference - how apropo!<br/><br/>- Tchaka What are you talking about, Frank? I’m in FL where list price rules. So what if the $600k list house is only worth $450k? I’ll get you a great deal for $100k below list. I’m a rockstar!!

Hahaha, I do like the Saks reference – how apropo!

- Tchaka

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