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From: JKConey on 10 Aug 2010 03:49

"Steve Kucera" <throw31(a)news.eternal-september.org> wrote in message
news:i3qbmf$h7i$1(a)news.eternal-september.org...
> On 2010-08-10, JKConey <jkconey(a)verizon.net> wrote:
>>
>> I didn't really take offense. I'm just a touch leery of my
>> agent. I hate the way business is done in Nevada. I'm used to logic and
>> NY
>> action. What I'm getting is housewife brokers and the almighty
>> "comparables"
>> ruling all. Damn lets just lock ourselves in a room and make a deal.
>> I'll
>> take a breath and wait it out...
>>
>
> About a month and a half ago I drove around the area I'm shopping for
> office space in and called at least six numbers posted on buildings
> saying office space available. I never received one call back.
>
> It boggles the mind.


Yes it's a different world. Maybe I'll mellow out when I'm retired, but
right now I'm having a hard time dealing with these people.

--
JK Sinrod
www.myconeyislandmemories.com



From: Marsha on 10 Aug 2010 10:46

"JKConey" <jkconey(a)verizon.net> wrote in message
news:i3qb61$ohh$1(a)news.eternal-september.org...

> I didn't really take offense. I'm just a touch leery of my
> agent. I hate the way business is done in Nevada. I'm used to logic and
> NY action. What I'm getting is housewife brokers and the almighty
> "comparables" ruling all. Damn lets just lock ourselves in a room and
> make a deal. I'll take a breath and wait it out...
>
>
> --
> JK Sinrod

It's hard to sort out what's "here", and what's "now" regardless of where.

Every market has a variety of types of sellers though... if you were to
manage to come across someone who was selling their own home (not
necessarily FSBO although you certainly could look for one) they would
probably be very motivated to do so (to avoid it going into foreclosure, to
unload it so they can more elsewhere, or even to settle an estate), and
doing that ASAP. Let's face it, if someone can wait, they probably are
holding off, hoping for a higher sale price. But the chances are that there
aren't very many of those around. Much of what's out there is mired down in
red tape, and it has to be VERY frustrating for potential buyers and all of
those who are otherwise caught up in it.

I'm not sure what's not clear about comps. Sellers want to get as much or
more than another seller got for a comparable property. Buyers want to pay
the same or less than someone else did. Since it's all very public
knowledge, it's going to be part of negotiating almost any deal and will
take precedence unless there's some other overriding factor.

At least you're not running into folks who are testing out the market by
offering their houses for sale just to see what they can get, but with no
intention of selling. You have a variety of things in your favor... There
are several floor plans which seem to fit your needs and you seem to be
equally happy with more than one of them. You're coming out here anyway and
looking at houses is part of the trip, not the focus of it, so you'll be
coming back. There isn't any immediate time pressure to get to a closing.

I'm still looking forward to having the two of you live here!





From: JKConey on 11 Aug 2010 08:43

"Marsha" <ThoseEyes(a)gobbledygook.gmail.com> wrote in message
news:i3roq8$the$1(a)news.eternal-september.org...
>
> "JKConey" <jkconey(a)verizon.net> wrote in message
> news:i3qb61$ohh$1(a)news.eternal-september.org...
>
>> I didn't really take offense. I'm just a touch leery of my
>> agent. I hate the way business is done in Nevada. I'm used to logic and
>> NY action. What I'm getting is housewife brokers and the almighty
>> "comparables" ruling all. Damn lets just lock ourselves in a room and
>> make a deal. I'll take a breath and wait it out...
>>
>>
>> --
>> JK Sinrod
>
> It's hard to sort out what's "here", and what's "now" regardless of where.
>
> Every market has a variety of types of sellers though... if you were to
> manage to come across someone who was selling their own home (not
> necessarily FSBO although you certainly could look for one) they would
> probably be very motivated to do so (to avoid it going into foreclosure,
> to
> unload it so they can more elsewhere, or even to settle an estate), and
> doing that ASAP. Let's face it, if someone can wait, they probably are
> holding off, hoping for a higher sale price. But the chances are that
> there
> aren't very many of those around. Much of what's out there is mired down
> in
> red tape, and it has to be VERY frustrating for potential buyers and all
> of
> those who are otherwise caught up in it.
>
> I'm not sure what's not clear about comps. Sellers want to get as much or
> more than another seller got for a comparable property. Buyers want to pay
> the same or less than someone else did. Since it's all very public
> knowledge, it's going to be part of negotiating almost any deal and will
> take precedence unless there's some other overriding factor.
>
> At least you're not running into folks who are testing out the market by
> offering their houses for sale just to see what they can get, but with no
> intention of selling. You have a variety of things in your favor... There
> are several floor plans which seem to fit your needs and you seem to be
> equally happy with more than one of them. You're coming out here anyway
> and
> looking at houses is part of the trip, not the focus of it, so you'll be
> coming back. There isn't any immediate time pressure to get to a closing.
>
> I'm still looking forward to having the two of you live here!
>
>


The latest is our broker getting mixed up and giving us the wrong
listing price for one of our offers. The agent doesn't even want to present
it to the bank, because it's 20k under, when we thought it was only 5k under
the asking price. Continuing to play the game here...


--
JK Sinrod
www.myconeyislandmemories.com



From: Nonnymus on 11 Aug 2010 13:29


"JKConey" <jkconey(a)verizon.net> wrote in message
news:i3u5sm$377$1(a)news.eternal-september.org...
>
> "Marsha" <ThoseEyes(a)gobbledygook.gmail.com> wrote in message
> news:i3roq8$the$1(a)news.eternal-september.org...

>>
>> I'm not sure what's not clear about comps. Sellers want to get as much or
>> more than another seller got for a comparable property. Buyers want to
>> pay
>> the same or less than someone else did. Since it's all very public
>> knowledge, it's going to be part of negotiating almost any deal and will
>> take precedence unless there's some other overriding factor.
>>

These comments are generic, and not totally reflective of NV alone.

There are actually three methods to value a property, with comparable sales
being just one. The comparable sales is a valid approach for what people
are paying NOW for a similar home, with adjustments, but isn't necessarily
the most favored approach to look at longer range values. In a past logic
class, it was called an "ad populum," argument. "Everyone's doing it, so it
must be OK."

The second approach is called the reproduction cost approach and looks at
land prices (comparable cost) with adjustment for infrastructure costs, and
then the costs to reproduce the improvements new on the same site. This is
then adjusted for 3 forms of depreciation: physical, functional and
economic.

The third approach is the Income approach. There, you look at what the
property would generate in rental income (from comparison to other similar
properties), then subtract the anticipated expenses to arrive at a net
operating income. This is then capitalized by one of several methods to
arrive at a value estimate.

All three approaches should be used by an informed buyer when making a real
estate purchase, but very seldom are. In an actual, professional, appraisal
by a real designated appraiser, all three are used for even a single family
residence. However, these real appraisals are expensive, time consuming and
can't be done with the click of a keyboard.

This thread has also touched upon the professionalism of some real estate
agents and probably brokers as well. Obtaining a real estate license for a
salesperson is merely a brief course, taught at about the 7th grade level.
Much of it is general and covers highly complex mathematics, such as
calculating the area of a rectangle or naming the document used to convey
title to the real estate. Even a Broker's license is fairly easy to obtain
if you have spent time as a salesperson and essentially pass the same exam
again, with a bit more emphasis on valuation and law.

What some folk don't realize is that a salesperson's license is held by a
Broker. They are not permitted to operate on their own. Everything a
salesperson does is done in the name of the Broker and the broker is
ultimately responsible for their every action. Where this falls apart is
that there are now brokers who essentially rent space in their office to
salespeople and they essentially go their own way, using the brokers'
license and office space, without significant supervision.

I know one salesperson who does more residential volume in her state than
the next TEN salespeople combined. She's almost a legend. She only has a
salesman's license and rents her space and the broker's oversight from a
broker. That way, she has the benefit of keeping almost the entire
commission, without the hassle of the routine broker oversight.

My suggestion for anyone looking for a home is to write down what you are
looking for and the area. For instance, specifying a single family
residence, 1-2 story, 3-4 bedroom, 2-car garage, under $175,000, Anthem,
should be plenty for a good agent to pull up some listings. The listings
are terribly inaccurate, I found, and a good agent who knows you're here on
a trip and your time is tight, might go and drive by the 6-10 homes to see
if they match the listing. When you're looking at the homes, be sure to
comment on both the things you like and do not like. Write them down, if
possible. That kind of feedback to a good agent is invaluable.

Nonny





















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