HOUSING MARKET DISASTER: Deception at it's Finest
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- Опубликовано: 10 апр 2024
- The housing market is full of deception depending on who you ask. Finally a truthful conversation from the industry!
#housingmarket #realestatenews #usrecession
Todd Sachs is a Maryland Real Estate Broker and not a Lender, CPA, Attorney, or Financial Advisor.
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this lady is a perfect example of why most realtors are truly despised at this point.
Bahahaha… true that! 😂
agreed.
Yea I could only listen to half the show. Typical realtor, price doesn't matter, buyers are going to come out of the wood work when interest rates come down a point or two. She is promoting the wrong mentality so they can make the big bucks and screw the home owner over. Also that idea of converting strip malls into housing is stupid.
True Story
Not all Realtors feel this way. I have advised some clients to be patient if they have means to do so.
She immediately discredited herself by saying the expected starter home comparison is for 3600sq ft today. Nobody I know has or expects that size home especially for a starter
3600 is double the size of a large single family home IMO. Starter home is 1200-1600 sf 3/2/1
I was just going to say that. All I want is 1200SQ. FT and I need to earn $175,000/year to qualify, in many States across America where I just visited and don't want to live anyways, for many reasons. Snow in my high school WI, floods in Baton Rouge, etc. In my CA I must earn $450,000 for a boring tiny starter in ordinaryland even. The builders are building these huge houses to save themselves money with the over-regulation. That and why on earth does she hold onto the idea that interest rates are about to drop? That's a long way off, in any significant way. Maybe even up... OMG, This women's dangerous, I'd rather normalize internet privacy and not embrace every AI fad that comes along without learning over time...
She didn’t once acknowledge how high the prices were and they need to come down. A huge dislike for her
This lady is just another vulture seeing homes as commodities to peddle as fast as possible and for as much as possible. Cold as ice. Never once does she mention that houses are for living for real people who want a home.
Agreed. We need a platform that allows you to bypass agents and just sell to each other.
Greed ruins everything it touches.
I disagree
I agree. I was told by a financial advisor that I'm the second generation to think of a house as an investment. I responded with, "I don't think of a house as an investment". Started with boomers, then millennials. But I just want a place to live and plant roots. If people had permenancy in mind when purchasing a home, things would be different, but greed has taken over the market.
Everyone should read Liar’s Poker by Michael Lewis. It goes through the history about how Wall Street, namely Solomon Brothers, securitized the residential housing market and became a parasite on it. The audiobook is a very enjoyable listen with some extra sound effects and such.
I know many seniors whose single, childless sons have moved back home to take care of their parents. Those parents may not have qualified for long-term care or may just hate the idea of giving up their homes. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject ..... Thanks to Anni Juncina the lady you recommended.....
Let's face it... Buying more stocks & index funds during stock markets are scary Which makes it really hard to do for mostly people like me. I have 260k want to transfer into an s&s isa but it's hard to bite the bullet and do it.
Fact about investing is money invested is far better than Money saved. When you invest, it works for you and help you bring more money back to you
Please I'm new to this, how can I get her assistance??
Okay thanks! I appreciate
She's 100% wrong on starter homes. Idk how they roll in CO.. but here in MI.. 1100-1200 sqft 3 bedroom 1.5 bathroom are still starter homes.. and they are (still) up 40-70%. Starter homes here now have to be looked at like a home you will be at for 10-15yrs.
They'll say anything to justify nonsense.
The same homes that she refers to exist today but for 5 times the price. Smh! 😳
SAME IN MINNESOTA The lady is full of crap
I don't agree with what she is saying either.
Same here in socal
Same here in GA. Don’t know what the hell she’s talking about either. I was also ticked off when she mentioned the lawsuit being a money grab. Yeah…more that they been ripping clients off commissions for decades and now the tables are finally turned
I couldn't continue listening to her. She is all in for realtors and doesn't see the home buyers' point of view. I've bought and sold 3 homes, not a lot, but I see the bullshit that realtors do. They do not earn the 30k or 15k cut between buyers and sellers agent for working a 600k home sale.
The property needs to come down. The home prices are being manipulated. If The FED cuts rates, the cost of living will skyrocket across the country and the world.
Rates should be doubled in order to force down these ridiculous home prices
@@nKm-2023 But that's not going to correct the hyper-appraisal inflation and stated-income partnership type activity that began around 2004/2005. This problem of over-priced homes led to the crash in 2008 when 2/28's and 3/27's were the standard.
This is all planned read the book beneath sheep’s clothing by Julie behling
I'm one of the waiting buyers, and no, I'm not buying when/if the rates drop. Screw the rates, I only care about the purchase price, which is inflated at least 30%, and some 40%, from pre-pandemic prices. Drop 20%, and I'll look to buy.
Same here! We are saving, saving … and waiting!!
Same I’m waiting at least 25% drop price
Same. Hoping rates stay elevated long enough for force prices down.
Most areas will not see a 20%, sorry to say but due to NIMBY laws prices will stay high for longer than people think.
@@redtiger7268 in my area in San Antonio we are getting hundreds new home construction and they are increasing the home inventory and lowering the price around 15 to 20% and still they are not selling the houses because people have credit card debt, student debt, cars loans so people is struggling with credit card debt and inflation
The fed will not be lowering rates this year. Laughable to suggest a rate cut with inflation up another 3.5%
Yes. I expect rates to stay where they are or go up a bit more. I think interest rates will go down to a little below where they are now. We have returned to normal interest rates after 15 years of ridiculously low rates.
@@mikepaulus4766 Todays interest rates are still low, it's the prices that are still ridiculously high
Resist the FOMO folks.
@markme4 it's the Dying Dollar, stupid. ("Stupid" for effect. No disrespect)
Diversify away from Blackrock Fidelity Vanguard and Banks. Get Assets into your hands. #hodl. NonETF btc. Precious Metals. Self custody.
This gal is off her rocker… even if the fed drops twice 1/4 pt each- it’s not going to help anything. Home PRICES are still ridiculous!
I disagree with her take on home prices on small size back in the day compared to today not being much different in sf prices.. The real difference is how poorly constructed these new "big" homes are, and totally not worth it. Give me an older smaller home. At least they can stand strong over time. Most homes today are in shambles after 10 years with shingles flying off "new homes" with a bit of wind, and all sorts of problems that never should be. Quit buying these ugly cookie cutter oversized homes, and let those in "construction" rethink some things.
She seems like another talking head
When she said, "We can't build them fast enough" that's when I remembered an inspector on RUclips who shows big McMansion homes in his videos and all the cuts and corners the builder and contractors took. Shameful.
The interest rate can go to zero and I still wouldn't buy a house right now. The price of the house is the most important aspect.
Right? They are ridiculous and the sooner we stop paying these prices, the better!
Yep same with me. I'm a cash buyer and won't pay the current asking prices. Interest rates mean nothing to me
So this has happened in Hawaii a long time ago. There was no way to afford a house or even come up with a down payment. The majority of the people were working in a tourist industry where the wages were very low relative to owning a home or saving a down payment. You would have to live a restrictive life for decades to come up with a down payment and then deal with a high mortgage payment. Now the entire country is experiencing this massive inflation and depression of wages while the WEF masters control the obama/biden regime to further destroy the American people as they are the population and constitution that are standing in the way, and, funding these war mongering greed rich Americans that are practicing profit over human life all over the world.
I don’t agree with this lady. I don’t know about other places but where I live, it doesn’t matter if the home is an 1100 sq ft 2 bedroom 1 bath or a 6000 sq ft McMansion. Essentially all houses that I’ve looked at in my area have almost doubled in price over the past 3-5 years. Home prices have gotten way out of whack and have got to come down. Not interest rates.
There is no way in hell the average person making a medium income or even above medium income that want to buy their first home can afford to buy a starter home right now in my area.
Starter homes today are not 3x1200sq ft. I would consider a "starter" home to be 1500-1800sq. ft. No way is it 3600sq ft.
The starter home problem is because of builders.
Most people would absolutely buy 1200sqft homes, builders on the other hand would rather build 3000sqft mcmansions because they make a significantly higher profit margin.
I don't know if this woman is a delusional idiot, or a liar that's playing defense for NAR.
That was a complete joke. She is an apologist nothing more.
I’m in a 4br 2ba 1250 sq ft home surrounded by the mcmansionvilles of New Jersey. I get all the same services at 1/3 of the cost of there property taxes, 60% less in utilities and I can put my head on my pillow without thinking whom I have to screw to support a selfish lifestyle..
@@wallye8713 I live in nj too and a ~1600sq ft home in fair lawn just went on the market for 640k. Mind you it’s a small terribly painted white brick house. But yes let this realtor tell us our expectations are high 🙄
@@Daveyjonesvi grew up in Paramus (when lettuce farms were my neighbor), moved to Somerset county now in Monmouth… Next Maine with raw land.
No. Having a buyers agents is not like having a lawyer on your side in court. A buyers agent has their own agenda, unlike that lawyer. A buyers agent wants you to buy the most expensive house you can for a greater commission. But most importantly, they don’t want the deal to fall through. So what kind did things might they do in order to secure that sale?
No. I don’t buy the “someone on your side” argument.
She is nothing more that a used car sales person a fly by night sales person. Hate to be related to this person
This lady is out of touch. Broker fees are not negotiable like she said. I have sold many homes and no matter what they say… no realtor will offer their service if you pay less than the standard rates of the area which is usually 6%. Total scam.
Woww I have not had that experience at all. That said I sell on my own (FSBO) agents after they see my listing all come to me with low commission structures. Again I chase them away and sell on my own. If agent comes with buyer then buyer must pay them not me…
The houses are not bigger. My parents bought their house for $35,000. It’s now worth $900,000. The house did not get bigger? Wow is she shoveling the BS
She's pure perfectionist. Not a compliment. Hate to do business with her
Broker fees are always negotiable. You have no idea what your talking about. I see fees range from 1% to 10%
@@ericpaffenroth4213 you’re clueless. Sure they have always been negotiable but every realtor I spoke to over the past 20 years won’t do business with you unless you agree to pay up. At least 3% of the buyers agent is not negotiable if you want to sell your home. Realtors won’t bring clients to your home for less. I just spoke to a realtor yesterday… they refuse to do business with me unless I pay 6% total commission! Total scam. This is exactly why NAR was sued. And exactly why you’re an idiot
What does she mean unfortunately? Jerome Powell is finally doing the right thing and keeping interest rates high to bring these ridiculous asset prices down and return some of the purchasing power that was borrowed back to the people and I guess it would make sense she's a real estate agent so she wants super cheap rates so people will go out and gobble up those houses and they can get their commissions
she clearly has not studied economics.
That 'unfortunately' means they are hurting, hurting bad. She totally forgot how they benefitted from J Powell's bond purchase. In the past 3 years they earned so much but she is all set to stomp over J Powell.
It's not even high, that's the worst part. 12% on a home would be high. 7% is pretty normal.
He needs to raise the rates, not keep kicking the can down the road until after the election
@@nKm-2023 yes, he needs to just get it over with. Houses are still selling in my county, slowly but selling. With 7% rate typical minimum 20% down payment is 120k here and monthly payment is in 6-7k. I don't understand how people are earning 15-20k per month to afford this! Which profession gives you that kind of money?
The days of your 6% commission are OVER
and she states lower rates "as soon as March" - when was this recorded? - because of resilient inflation, interest rates aren't going down this year
This spring selling season. Has been complete shit up to this point. This commission vampire guess. Reminds me of the one asshat. On IG that said interest rates will be below 3% this year. 😂
I’m less concerned with rate and more concerned with price. A drop in rates won’t make me pull the trigger. I’m patient and will find my deal.
I don’t understand how the real estate market keeps going. Credit card debit topped has topped $1.1 trillion, the average new car payment is in excess of $700/month, inflation is still running hot and taxes/insurance are continuing to go up. It seems that people have an endless supply of money.
Someone I know is looking at a home tomorrow and she told me her mortgage broker said she was approved for 120% of the asking price. She was advised that she shouldn’t put more than 5% down and to keep her cash to add back into the offer beyond what the mortgage get approved for so she can overbid. Her agent also told her that the owner is going to hold off on making a decision on which offer to accept to give all buyers an opportunity to offer their highest bid. It seems to me like the entire industry is continually stirring the FOMO pot.
Just say no.
People love debt
Which will lead to lots of people biting off more than they can chew, which will create a 2008 crash
Her math between the starter home stuff and commissions built in? Really do appraisers add 6 percent? I smell BS.
Lenders now send appraisers to advise and strategize and represent your interests?? Since when? I had no idea!
Paying buyer realtor costs is going to decrease what a buyer can pay.
This interview was trash. She expects people to live in sardines?! No one wants to hear their damn neighbors. As you get older...you want your own piece of land and your own PEACE OF MIND!!!
you are so wrong about starter homes. It cannot not be 3000 sq ft
quite funny how these people think they need 3% of a half million dollar purchase to open some doors
You think that's all they do.. you know zero.. and what, we open 3 doors and you're so happy you want the house.. yeah right.. I bet you would take months of doors, driving and research and time would be wasted on you since you wouldn't appreciate sheit.. your may the exact person we will be laughing at when u have to reach in your pocket and pay a lawyer or a showing company to "open a few doors".. 😂 igit.
@@Laketexomaliving what is this? the 90's with no internet, lmao
@@Laketexomalivingglorified door opener
Okay, so I understand the frustration, but this belief is also a huge part of the problem. I left RE sales when it turned into a circus bc I lost the ability to protect my clients. Realtors do SO much more than open doors. A good agent can make a massive impact. The last sale I did was in 2022. While everyone else was paying over appraised value, my client had 15k in equity when she purchased. There are a lot of crappy agents out there, no doubt. But a good agent can save you thousands, negotiate, make sure you get the proper inspections so your home warranty actually has value. Honestly, the list goes on and on. The problem is the average person doesn’t understand the value a good agent can bring and good agents are far and few between. I loved helping ppl. Please stop pushing the lie that they are glorified door openers. I made a huge impact on so many families and I know they are better off bc of my hard work and knowledge of the industry. The public has to take some responsibility for not interviewing agents and taking the position seriously. If you choose to work with a lazy uniformed agent, then that’s your fault. You could have chosen to work with an agent that is worth every penny. Also, do you now how many times agents work for free? They don’t get paid unless they close. They could work with the same buyer for months, drive hundreds of miles, and write countless offers, and end up with ZERO. Look up the average salary of a realtor and the commission splits to brokers. I really hope the public will start to educate themselves. Find out what an agent actually does and you’ll see what an ignorant comment this is. Please don’t buy or sell until you do. Most are so ignorant on the subject they don’t even know they’ve done themselves a disservice by not using a RE progressional. Stop pushing the lie.
@@Laketexomaliving Anyone who has worked with a realtor in the last few years knows that you are full of it. Even good ones don't bring the value that they are paid at 3% commission. Funny I'm in the market for a place in the Texoma area. I hope I can avoid from engaging you as a realtor. Assuming that you are one
Total BS. My last 4 home values did NOT factor in any commissions. OMG. Stop gaslighting!
“Our industry being taken advantage of…” whoa! Do you truly believe that the NAR would have done anything differently had they not been pulled into it kicking and screaming? I don’t believe NAR would have given any ground unless someone called their bluff. Now I do NOT agree that the changes will all be good for buyers but I very strongly disagree that an industry where brokers can become millionaires should play the victim.
We A NEED SMALLER HOMES! The housing stock built in the last 40 yrs are mostly ‘McMansions’ even though families have gotten much smaller over that same time period. And now we’re wondering “why are home prices so high”- it’s obvious! Houses (and their maintenance costs) are way too big! Houses (like Bungalows) built in the 1930’s - 1950’s often had unfinished basements and unfinished attics. These are the ‘expansion’ opportunities when you had a little more money and/or had kids and needed extra space. But - being originally built as unfinished space allowed for these home to be affordable for young families to buy. Nobody wants to do any finishing work anymore - they want it all done! 😖
Tell me about it. Here in the DFW area 90% of homes built are over 4,000 sqft. I can't even find a new construction 1 story home unless I go to the northwestern side of the county.
Calling Bravo Sierra on starter home size comment, My husband and I looked at a home just over 1500 sq ft In Florida we use to own, nothing has changed on the property other than the yard is now bare. Yet, it is more than double the cost it was 10 years ago. A similar situation in a home we used to own in Massachusetts. Its not that we expect more, its that prices are bloated to point of insult.
to.the.point.of.insult. 👏🏻
I lost a house in San Diego in 08 for $287k that same home with no improvements just sold for $1.1 million.
@@redtiger7268 disgusting isn't it! Yet the rich politicians tell us the economy is great we are just too stupid to realize it!
She seems ignorant to reality. Homes are 50% overpriced.
So called buyer demand means nothing if they don't qualify for financing. The 46 percent debt to income is already absurd. That should be 30 percent.
Where is she seeing folks ask for “starter” homes of 1,200sq.ft. X ~3 =3,600sq.ft. at 1980 prices? First time I hear that.
She is playing up to Todd, cause he likes 1989, style homes & prices.
Wow, this is pure gaslighting bullsh1t.
I’ve been in the building business since 1969 and I can tell you now converting commercial buildings is not the answer. Unfortunately it’s all about affordability very small houses maybe 900 to 1000 ft.² will be the new deal on the block and even those homes are going to be expensive but that’s what you get with the inflation crisis that we have
IMO no one who wants a family will be happy in a 1000 sq ft home, purchasing one is a big mistake. You will run out of room in just a couple of years and selling it will be a problem because most people know that they aren't worth it.
If it wasn’t for “money grabs” there would be no changes. In fact I think there are going to be more “money grabs” to eliminate all the extra glom scratch ur back fees with in all aspects of the real estate transaction. Saving consumers $1000’s if not $10 of thousands….
I totally agree with you. NAR said they would fight to the death but realized they would be bankrupt. They then folded.
I don’t want to be “owned “by a buyers agent. I can shop and do the deal on my own. And have done it. All you really need is a basic contract give it to a settlement company( or start with your mortgage company they have legal format fill in the blank)to put the basic contract in to upgraded executable form.😮 Not nearly as complicated as agents want you to think. The internet and electronic processing have changed the industry. No need to burden buyers and sellers with these now unnecessary agent fees that get passed on. It is that simple. I can advertise a house as simple as a car I sell on Facebook. So why all this real estate agent cost??
Well when buyers pay nothing why would they want to buy a fsbo? No agent will ever show a fsbo period. Period.
There are hundreds of thousands of buyers do not know the process especially to the first time home buyer. You must be exempted.
A starter home is 3600 square feet? I’m sorry, no way do I accept that argument. Should have said a starter home is still 1200 square feet and it’s 3 to 4 times more expensive, inflation adjusted.
This girl is smart but she is misinterpreting one thing the FED will have a very hard time dropping rates for the fact that inflation is still ticking up after 3 months of bad numbers so there will be a delay in that but you have to understand that if they drop rates and inflation goes up really fast which means they can't drop and hold rates for very long they're going to go right back up which again will price people out of the market
The reason why the FED is not dropping the rates is also the fact that corporations are so far in debt that they need the inflation to inflate the short term debt down. Of course, their roll over debt is now higher because of the inflation but that is more incremental and can be managed with money inflation to pay down the other contracts that were based on a stronger dollar.
So since the seller pays the listing agent who pays the buyers agent the seller does in fact pay the buyers agent. Semantics.
Totally semantics. Remember her background is sales and marketing.
Isn’t the buyer really paying both of them? That’s who’s bringing the money to the table. The commission is baked into the price. Sellers price their house while considering what they negotiated in commission. The buyers pay the commissions. It’s their money.
@@alowishushenry1265Only people with a little sense see it that way
Agreed. The listing brokerage pays...with money collected from the seller...that they get from the buyer. It's all very convoluted.
It is blaringly obvious she is in marketing, her talking points were well scripted and she spun all points in favor of her position
It's important that sellers learn how to price & sell their own homes, it's not that hard and it's 100% legal. If a seller's 1st call is to enlist a broker for 'help', they deserve to get hosed. My last 3 homes I sold myself with the help of yard signs and FSBO listings on Marketplace & Zillow. The only thing I found annoying was realtors calling me non-stop and pushing me to list with them. My respect for that industry is less than I have for Roy's Rust Bucket's used car lot. At least at Roy's you know what to expect. .
Um as soon as she said that house prices are in line of inflation, not too mention there is inventory, it's just being held up by companies, being foreclosed on. I call BS.
lol "flooded" Presumably with buyers? Consumers are broke but OK. Turned it off at 12 minutes, I am just an average guy but I take the time to look at data..........
People are not going to go rush out to buy if rates drop 1%. The prices are too high and people are not stupid. They can see what's coming with more inventory coming on the market in the near future.
I've given people the benefit of the doubt on that for 2 years. Sadly.. I don't agree with your take. There are more people out there than you realize that are impatient, willfully ignorant, and/or just don't care. Rates don't have to drop to 1%.. Anything 6.5% and below will do it.
@@backrack01 Also keep in mind that if rates drop 1% to 6.1% that means you can get a 5.1% rate with a good broker and some special deals. At that rate you will add thousands of buyers.
Starter homes larger? I have to question that a bit. I have seen homes put on the market 900, 700, even 600 sqft selling for $250,000. So I’m not sure if that is a true answer to pricing increases.
I was born in Colorado but moved. People there are out of touch with reality and weird! Like her. Politics are anti constitutional and unAmerican. Immigration is out of control so maybe the state needs those new homes. Must be the high altitude
50% appreciation in 3 years is not right. 4-5% is the historical avg. Build smaller entry homes... Where TF is the $$$ coming from for folks to buy today?
I agree with her on most things. Yes, this NAR situation will cleanse the industry of worthless agents, but the Fed cutting rates will hardly release "pent up buyer demand". There are so many other issues than just the mortgage rate.
Property taxes, homeowners insurance are both killing people in my area😏
@@KAZHE63
100% correct.
And add to that all the other economic pressures pushing things down. It's all but inevitable, this housing crash. It's already started where I live.
God I hate sharing walls with people
Bought my first house and my agent was terrible. Did not protect me whatsoever and did not earn the money in the slightest. Clear issues that should have been noticed and part of the negotiation and I had no idea I could negotiate the things which I am now paying for. Entry bar being too low is very true.
Is there any professions greasier than car salesmen and real estate agents. I always feel like I need a bath after dealing with one of these dirty birds.
None. They are very slimy. And how much work does an agent actually do? When I bought my home I found the home. The agent gave the paperwork which was stock paperwork from her company. The agent did less than a week of work but got paid what I do in a month. Agents are way overpaid and obnoxious
Those in the system (the _"beast"_ ) all share the same mentality: Superiority.
“Taking advantage of us” like they haven’t taken advantage of buyers esp the last few years …
Please explain to me, why do we need real estate agents? Why not just get a real estate lawyer and deal with each other? Sounds straight forward? Am I missing something
In Mississippi, where I wanted to retire it is difficult to find someone that is transparent. They have to call to show a house or use the sellers agent, which is not in the best interest of the buyer.
I don’t think she did anything to convince a buyer/seller that real estate “professionals” are there for their clients. Still all about the $ first with as little effort as possible.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
I have the old style starter home, 1300 sqft, 130k 9 yrs ago. Payment went from 1000 to 1400 due to taxes. Cle metro
Nice to see another viewpoint. She seems somewhat out of touch though. Starter homes are still 1100 to 1500sq ft 3 bedroom 2 bath.
Yeah. I just watch the home prices climb and climb. Indiana’s median house price is rapidly reaching $300k which is way out of whack from the median salary in the state. I have been ready to purchase for more than a year, but I am not playing this game.
I dont see why you need a seller agent. If you buying a house, you should bring a buying agent and he should help the buyer with everything that the person needs. And buying agent should be paid by the seller. Obviously there should be some protection put in place to protect the seller from any mischievous that may arise from the buyers agent.
The elephant in the room is population density when you discuss converting office, retail, industrial to family residences. Do people have a right to peace, tranquility and NO VIOLENCE? Population density is directly related to criminal activity.
Yes and no. Japan is extremely population dense yet has some of the lowest crime on the planet. It has more to do with social norms and culture than anything. If you look at the crime stats in those areas it is usually people going to other neighborhoods to commit crimes on people they see as different from themselves.
@@redtiger7268 In my experience, a quote from Emperor Marcus Aurelius Antoninus Meditations Book II Verse 9 "What the nature of the whole is; what my own nature; the relation of this nature to that; what kind of part it is of what kind to whole; and that no man can hender your saying and doing at all times which is in accordance with that Nature whereof you are a part." When I am assigned to investigate a robbery, rape, arson or homicide in San Francisco do I start my search in Chicago? New York? In a retail robbery, do perpetrators travel from Nebraska to San Francisco to commit this crime? FBI statistics indicate that most perpetrators reside close to their targets. Why is that? Does this quote above provide aid for understanding?
Hannibal Lecter: I’ve read the case files. Have you? Everything you need to find him is right there in those pages.
Clarice Starling: Then tell me how.
Hannibal Lecter: First principles, Clarice: simplicity. Read Marcus Aurelius, “Of each particular thing, ask: What is it in itself? What is its nature?” What does he do, this man you seek?
Clarice Starling: He kills women.
Hannibal Lecter: No, that is incidental. What is the first and principal thing he does, what needs does he serve by killing?
Clarice Starling: Anger, social acceptance, and, uh, sexual frustration …
Hannibal Lecter: No, he covets. That’s his nature. And how do we begin to covet, Clarice? Do we seek out things to covet? Make an effort to answer, now.
Clarice Starling: No. We just …
Hannibal Lecter: No. We begin by coveting what we see every day. ruclips.net/video/talM_BVxhAc/видео.html
In reviewing thousands of investigations, it is learned that for most non white collar crimes, there is a general relationship of distance between the act and the perpetrator. One result is that for crimes in a business, it is important to observe the behavior of the workers as well as the customers. The workers are present most days and understand where the values and and the weaknesses of the organization/business are... every day.
We paid $25,000 for a Bree bedroom 2bath in 1972. My auto today is twice as much?
Love your shows,
I learn a lot
But why are you not addressing the real issue?
Is it really a hidden thing that the prices more than doubled, because of lack of inventory, but to day that’s just not the case. Do you realtors really believe this that happened in two years of artificial free money dumped into the economy that drove this radically inflated home price.
The fact that home prices were not driven by true value, but a twisted government bailout and fed screwing with interest rates that were just not sustainable
Let the realtors tell the sellers the truth then see how that works
I truly believe the Fed needs to stop the spending that is out of control and the only way to do that is to increase rates, not drop them. AND Government needs to stop using our wallets as their piggy banks. 😮
From the comments I can see that most people can see this lady for what she truly is, another elitist that thinks she knows better than everyone else just because she was able to get rich. He going off about min wage and apprenticeships means she has never worked or even researched why those jobs went away. Before the laws were put in it got the point where most apprenticeships were 2-3 years long with ZERO pay. How are you supposed to live while earning nothing? Even at that I remember many times when it came time to sign off on the hours and the tradesman flat out refused because he wanted to keep his income high while being able to get someone to work for free. I could go on but you get the point, they were being exploited to the point where laws had to change.
F the buyers agents, every buyer need access by law so we have a shot at finding a good deal then have professionals verify the due diligence
What about the cost of a car back then vs today? Does this analogy apply? Our dollar has been going down....that is why everything costs more now.
The city will have an appraisal of one home, and it doesn't take any of the agent fees into consideration.
Min 7;00 Bad experiences all the time, too much, greed, too many slick agents, pushing the limits way too far with no consideration for home buyers and their,
All they care about is making highest profits with someone else’s investments. It’s gotten so technical and sophisticated tactics it disgusting. It’s not about the seller, definitely not about the buyer, it’s about agents money greed and it’s causing distress in families.
Do I hear hurry, hurry, buy, buy, buy? Hey how about lowering those insane home pricing & RE fees. On a so called modestly priced $500k home that's a $30k fee. Sell 2 homes at 1/2 commission & you retain the same income. So bringing in an agent is their money grab to bump up home price. Shouldn't buyers use the reciprocal of at least deducting the RE fee cream off the top?
I thought the inconvenient truth was going to be "it's typically the listing agents driving home prices up to capture the highest possible commission possible from the transaction."
The Appraisal Value does not include your commission!! If the home sold as a FISBO or by a NAR Agent it’s still worth the appraisal value. The client historically has to reach higher to cover the commission
I completely agree with her statements about the barrier for agents being too low. In South Florida, just about every female that I’ve come across, seems to be a part-time agent. Most of them have absolutely no understanding of anything beyond a CAP rate. It’s so frustrating to deal with someone who is so inept at what they’re doing that they almost seem deceptive. I have no problem paying for an excellent service and knowledge. However, most of the time, I feel I can get the same information with an Excel spreadsheet, and a little bit of digging.
Home prices are hugely inflated compared to what they were except for the 2006- 2007 idiocy.
The fact that homes are bigger has been figured in. The fact that building quality for the new big homes is crap is not figured in. The fact there is so little price discovery combined with terrible construction quality will come back to bite in the future.
Discipline requires patience and discernibility.
The sad reality is that lower rates will come with the housing crash. This means we are two years away from the crash and realtors are frozen in a sunset industry. Powell will not lower rates for the real estate industry and he firmly believes that when the crash happens he will start lowering rates. The big question is can realtors withstand lower sales, lower revenues, and high rates?
Wow.... this woman is really smart. She mentioned numerous things I've never heard mentioned before.
Brilliant session. Shirley gave an in-depth knowledgeable take on the current Real Estate problem.
Many full time agents care more about the sale than the client. Many part time agents spend more time with the client and educate the client. I have been a part time agent for years. I have had repeat clients due to how much I care and educate.
Not with gas rates going up. Inflation is going to grow again this quarter. The cost to deliver everything is going to increase.
She sounds like she has been hanging out with Barbara Corcoran.
Rates are going up
I don’t see where there’s an argument as to whether the buyer or the seller pays the real estate commissions. At closing, the real estate commissions are paid out of the sellers proceeds. Therefore the seller pays them. The seller has constructive knowledge of this because it’s in the listing agreement they sign and the price they accept is in consideration of the fact that the commissions are theirs to pay.
What is she talking about... Starter homes are still little 1100 - 1300sqft houses and are still 3-4x what they used to cost... With that statement, I'm assuming this lady is out of touch and only works with six-seven figure clients.
Can a purchaser ask for a signed document asking the seller to sign saying the agent shared the offer?
I wonder how the price per square foot compares when only looking at house sub 1200 is. Tiny homes price per square foot is 350 plus. Bigger homes that price drop dramatically which makes sense.
"Your appraised value of your home is based with the commissions in there"? Complete B.S. Your home value is the value of your home and land. Commissions are added on top and have been too much for too long. And sellers will not have to reduce their price without a buyers agent and lower commission costs. They are completely separate. Another real estate video that perfectly depicts why people despise agents...
Sellers will find it a bit more difficult to find buyers for their properties due to buyers finance constraints. Most home buyers in the past are fully aware of their BA, if they used one, compensation being paid out of the sellers proceed of sale. And as far as potential buyers using attorneys instead of real estate agents, news flash, RE agents, under current compensation structure, get paid at closing while attorneys get paid up front, in the middle and at the end!
The more people are involved, the more money it will cause. So buyers, if you do not use an agent, make sure you are not being charged or billed for it.
The realtors in Florida are buying all the houses in the 200,000-400,000 range for themselves to rent. The MLS should be available to everyone not just realtors getting the lowest prices before foreclosure.
The number of people wanting to buy a home vs How many can qualify. What percent of that group has over a $120K income ? 700+ Credit Score ? $50K down payment ? Low or Zero debt ? That number is a tiny fraction. The outrageous reality of this sick poisoned market- People can not qualify for a $2500 Mortgage so they stay in their $2800 rental. Madness.
I disagree with her about buyers agent. You can negotiate directly with the owner or their agent. If you are a good negotiator you might do better than with a buyer's agent.
Great guest! I could of listened for another 40 minutes easily.
Seems like an old interview, because she mentions "by February" in relation to the doom spending credit.
Hi Scott, what a great guest speaker, she should be more regular on the show
Good to hear home values are declining.
What a beautiful intelligent interaction👏👏👏👏👏👏👏👏👏👏👏👏
Thanks for sharing