House hunt vent | Imamother

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House hunt vent

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amother

Aqua

Thu, Jun 23 2016, 8:51 pm

This is not an inquiry , it is a major vent. Why do some realtors feel the need to ask outrageous prices on homes and thus raise the market to numbers beyond anyones reach??? It is so vicious. I see certain frum realtors who just do this to see how high some crazy person will pay ... Don't they want normal young frum families to stay here in Brooklyn?? We have $$ ... but everything needs to be in the millions all of a sudden????

Maya

Thu, Jun 23 2016, 8:53 pm

That's how the housing market works. Have you seen the prices in Monsey recently? Why should people sell for less than market value if they can get the asking price?

amother

Aqua

Thu, Jun 23 2016, 8:59 pm

I'm not asking for below market prices.
I'm asking for market prices. Certain frum realtors here in Bklyn will just ask
half a million above market price and leave it on the market until some crazy person pays. It's disgusting.

cnc

Thu, Jun 23 2016, 9:03 pm

amother wrote:

If people pay it it becomes market price. That's the way things work. Besides I haven't seen anything being left on the market for too long in Brooklyn. Houses are snatched up no matter the price...I have relatives looking.

groovy1224

Thu, Jun 23 2016, 9:09 pm

amother wrote:

I don't think that's really how it works...they want ppl to make an offer. Half a mill above market price seems excessive though...are you sure you are familiar with what market prices are? A lot of people see houses going for what they believe is 'way above market' not realizing that if it's going for that amount- that's the market!!

amother

Aqua

Thu, Jun 23 2016, 9:11 pm

Ok, there must be someone out there who can relate and empathize. I know the market well, have been looking for a while. There are some houses which stay on the market for (relatively) longer due to high prices, which are set by frum realtors who want to see how much crazier the market can get. Eventually someone pays, but the next house at that price becomes "market price." Whatever. I guess the realtors are just doing their job and yes I know thats how the market works but sometimes its out of control.

amother

Wine

Thu, Jun 23 2016, 9:12 pm

Unfortunately you are looking to buy in an area with high demand and low supply. Hence, high market values. (And yes, market price is "whatever crazy person will pay.") I tried looking in Brooklyn for a while and gave up. Luckily I found a beautiful frum community in Northeast PA where houses go for next to nothing.

Maya

Thu, Jun 23 2016, 9:13 pm

amother wrote:

No one is forced to live in a particular place. If you think the prices are outrageous, go find a neighborhood where the market is more suited to what you are looking for. You can't blame people for trying to sell their homes for the best possible price, and it's obvious that in Brooklyn, they can do just that.

Maya

Thu, Jun 23 2016, 9:15 pm

I think a lot of us find it hard to be sympathetic to people who insist on living in Brooklyn yet complain bitterly about the prices. You can't have it all.

amother

Forestgreen

Thu, Jun 23 2016, 9:16 pm

Things definitely are out of control....I agree. What can't hard working people who saved some money and can borrow some, can't find a normal size house in Brooklyn? Prices are out of control.
The brokers tell you they got offers for x amount to try To get you to give more....3 months later, its still on the market. What happened to the offers???

amother

Aqua

Thu, Jun 23 2016, 9:16 pm

I am not blaming people. I am blaming certain realtors. I need to stay in Brooklyn for many reasons. Just looking for sympathy from someone in a similar situation.

mummiedearest

Thu, Jun 23 2016, 9:17 pm

amother wrote:

amother, most people cannot afford to have their home sit on the market for that long. if it's that high above market price, the owners likely set the asking price. they may feel their home is worth more than it is. and realtors want to make money, I don't think they become realtors because they want frum families to stay in brooklyn. they become realtors because there's money in it.

amother

Aqua

Thu, Jun 23 2016, 9:18 pm

Maya if you can't understand or sympathize just forget it. Thanks forestgreen.

cnc

Thu, Jun 23 2016, 9:21 pm

I have never heard of a house in Brooklyn being on the market for 3 months unless something is seriously wrong with it.

From what I hear houses are sold within a week. (I know someone that put an ad in the Wednesday Hamodia and his house was sold by Thursday night.)

cnc

Thu, Jun 23 2016, 9:22 pm

FTR I agree with you that the prices are insane....

amother

Aqua

Thu, Jun 23 2016, 9:23 pm

mummiedearest, I knew realtors don't become realtors to help frum families stay in Bklyn. That would be pretty stupid. But they tend to raise prices more hungrily than other realtors, and its ends up edging young normal from families out of the market, thats all.

amother

Aqua

Thu, Jun 23 2016, 9:27 pm

And yes three months is a long time. But one day is very short.

Maya

Thu, Jun 23 2016, 9:30 pm

amother wrote:

Maya if you can't understand or sympathize just forget it. Thanks forestgreen.

I do understand. We're also in this situation of buying a house that was probably priced at 150K lower just a year ago, because of the aggressive market in Monsey right now.

I just don't understand the blaming of the realtors. It's like a poor person complaining that they are "priced out" of buying a 180-foot yacht, or some other excessive luxury, and blaming the retailers for their markup.

amother

Linen

Thu, Jun 23 2016, 9:31 pm

amother wrote:

In a similar situation and can understand, it's really frustrating. However, you have to be aware of some things.

The realtors make a very large commission off of each sale. That's their job so they'll raise the prices as high as they can so they can get paid the most. It isn't right if the price is crazy out of range but that's why they're realtors and not us. They also go looking for those customers that are willing to pay those prices.

You're also mainly paying for location. That is part of the market price, unfortunately.

There's a house for sale on my block now (Bklyn) that's asking over a million dollars. It's a house that needs a lot of tlc and updating. But, we live on a great block that people are always looking to get on. Also there was a house for sale nearby and we went to look at it during an open house without knowing the price. It was a 3 bedroom house asking almost a million. After looking at the home and property, it was worth probably 600k not a million. It sold within a month or two. It's all about location.

amother

Aqua

Thu, Jun 23 2016, 9:34 pm

Maya I am not blaming all realtors. I am venting about the very hungry frum realtors. And we are not poor looking to buy a yacht. We can afford to buy a house here but its an extremely frustrating experience when the frum realtors are so impossible, that's all.

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