Real Estate

[Bob Sacamano]

I'm thinking about become a real-estate agent

it's pretty easy to get into, only about 215 to take the class (including books and test)

anyone on here in that field?

[FloridaRob]

Now is not the time to get into it. I have been an appraiser for over 30 yrs and a lot of friends of mine are agents or they were. Many are now out of the business completely. The successfull ones have paid their dues for a very long time. I had my agent license about 20 yrs ago when it was a requirement for appraisers. Then I let it go when Appraiser regulations changed. The only time I used my license was on a house that I bought.

If you want to get into it and know you probably won't sell a house for a while, have at it. The only sales happening now are short foreclosure sales. It is a sad time in real esate.

[DMOB]

Now is not the time to get into it. I have been an appraiser for over 30 yrs and a lot of friends of mine are agents or they were. Many are now out of the business completely. The successfull ones have paid their dues for a very long time. I had my agent license about 20 yrs ago when it was a requirement for appraisers. Then I let it go when Appraiser regulations changed. The only time I used my license was on a house that I bought.

If you want to get into it and know you probably won't sell a house for a while, have at it. The only sales happening now are short foreclosure sales. It is a sad time in real esate.
Yep, don't recommend it.

[Bob Sacamano]

I thought with cheap housing costs, that people would be trying to buy houses

[tomson75]

Now is not the time to get into it. I have been an appraiser for over 30 yrs and a lot of friends of mine are agents or they were. Many are now out of the business completely. The successfull ones have paid their dues for a very long time. I had my agent license about 20 yrs ago when it was a requirement for appraisers. Then I let it go when Appraiser regulations changed. The only time I used my license was on a house that I bought.

If you want to get into it and know you probably won't sell a house for a while, have at it. The only sales happening now are short foreclosure sales. It is a sad time in real esate.

Yeah, I have three friends that got their VA real estate licenses about four years ago. Neither of them are currently active.

How is the market for appraisals out of curiosity? I know that foreclosures still need to be appraised. I would think that that business would still be OK.

I ask because I had briefly thought about looking into that line of work a few years back. I know a guy that opened up a "Pillar to Post" franchise, and he seemed to be doing very well before we lost touch.

...and I'm in the market for a new line of work in the next few months as well.

/end hijack.

[Bob Sacamano]

Yeah, I have three friends that got their VA real estate licenses about four years ago. Neither of them are currently active.

How is the market for appraisals out of curiosity? I know that foreclosures still need to be appraised. I would think that that business would still be OK.

I ask because I had briefly thought about looking into that line of work a few years back. I know a guy that opened up a "Pillar to Post" franchise, and he seemed to be doing very well before we lost touch.

...and I'm in the market for a new line of work in the next few months as well.

/end hijack.

I told you prostituting would wear you out

[bbgun]

How do I know you won't rape me when you're showing me a home?

[Bob Sacamano]

How do I know you won't rape me when you're showing me a home?

we have an understanding

[Hostile]

I'm thinking about become a real-estate agent

it's pretty easy to get into, only about 215 to take the class (including books and test)

anyone on here in that field?Yes, don't do it right now. Bad markets.

[Hostile]

I thought with cheap housing costs, that people would be trying to buy housesThe banks are not lending.

[theogt]

I would suggest becoming a DVD player salesmen. Blu-ray's not gonna last!

[tomson75]

The banks are not lending.

Anyone else hear about a rumor of the government trying to pass a $15,000 dollar gift to first time home buyers soon?

Someone said something about this to me a few days ago, but I can't fathom how we've gone to giving a $7500 interest free loan to a $15,000 grant to first timers.

...i hope it's true, because I'm looking, but it sucks you the rest of you poor SOBs.

[tomson75]

I would suggest becoming a DVD player salesmen. Blu-ray's not gonna last!

*Curiously looks at PS3 that was just purchased yesterday*

[FloridaRob]

...How is the market for appraisals out of curiosity? ....

I make 1/5 of what I did 2 yrs ago and that is probably 400% more than most appraisers in the business. The only decent business out there right now is FHA. If an appraiser is not FHA qualified, I have no idea how they are surviving. I have a good friend that got into the business about 8 yrs ago and he has not had an appraisal to do since last summer.

The govenrment is doing their best to weed out our profession as well.
There is a movement in the Congress that would require any lender to order the appraisal thru a rotating panel within an Appraisal Management Co cutting my fee to probably 1/3 of what I charge now. That would have a significant impact on the small shops such as mine. I get my business because of who I know and the length of time I have been in the business. If the brokers/banks and lenders I have nurtured for the past 20 yrs are not allowed to order directly thru me, then I will probalby just say screw it.

Time to practice my "do you want fries with that order" or "Welcome to Walmart".

I always was fascinated by one job tho. The guy that stands on the side of the road with the Stop/Slow sign that dictates when traffic moves or not. The guy is in total control. I love when I drive up close to him and he has the sign mid way between Stop/Slow. Do I stop-do I go thru? What do I do. But he knows. He always knows. The guy must be highly qualified. To have peoples lives in his hands like that. I bet he had to have significant training. The really succesful workers have a bucket to rest their sign when there is no traffic. And you know you have really made it, when the guy has a walkie-talkie and a bucket. What a life. And I bet when he goes home at night, he will feel satisfied nobody ran into each other.

What a life!

http://www.fotosearch.com/bthumb/CSP/CSP114/1146248.jpg

I never saw this cutie tho

http://www.fotosearch.com/bthumb/BLD/BLD026/BLD050967.jpg

And this guy has it all


http://www.fotosearch.com/bthumb/BLD/BLD029/BLD047664.jpg

and this gal has a snazzy work outfit too..

http://www.fotosearch.com/bthumb/CSP/CSP122/1220454.jpg

As my gal Ann Murray used to sing, "Dreamin, I must be Dreamin"

[Danny White]

Yeah, I have three friends that got their VA real estate licenses about four years ago. Neither of them are currently active.

How is the market for appraisals out of curiosity? I know that foreclosures still need to be appraised. I would think that that business would still be OK.

I ask because I had briefly thought about looking into that line of work a few years back. I know a guy that opened up a "Pillar to Post" franchise, and he seemed to be doing very well before we lost touch.

...and I'm in the market for a new line of work in the next few months as well.

/end hijack.

What line of work are you in?

[theogt]

Anyone else hear about a rumor of the government trying to pass a $15,000 dollar gift to first time home buyers soon?

Someone said something about this to me a few days ago, but I can't fathom how we've gone to giving a $7500 interest free loan to a $15,000 grant to first timers.

...i hope it's true, because I'm looking, but it sucks you the rest of you poor SOBs.It's not a rumor. It's true and happening. The language hasn't been finalized, but the "interest free loan" part is likely out. It's a $15,000 refundable tax credit to all home buyers, not just first time buyers. In certain versions the transaction can be applied retroactively to your 2008 taxes, so you could immediately amend your 2008 return and have the check mailed to you. I was planning on buying a new home in the summer, so this is fantastic.

[tomson75]

It's not a rumor. It's true and happening. The language hasn't been finalized, but the "interest free loan" part is likely out. It's a $15,000 refundable tax credit to all home buyers, not just first time buyers. In certain versions the transaction can be applied retroactively to your 2008 taxes, so you could immediately amend your 2008 return and have the check mailed to you. I was planning on buying a new home in the summer, so this is fantastic.

Nice. I might be joining you.

:toast:

[theogt]

Nice. I might be joining you.

:toast:Just doin' our part to stimulate the economy. Get $15k free and feel patriotic about it. :D

[tomson75]

What line of work are you in?

I'm in the waning days of my "dead end dream job"...if you will....at least as far as my full time employment goes. I'm basically clinging to a low level management job at a ski area where I'm essentially the "jack of all trades" guy. One day I'm grooming slopes or welding the frame of a tractor, the next I'm selling timeshares or flying across the country meeting with the higher ups in the ski industry trying to develop an widely extendable industry standard in safety and entertainment for a sport as undefinable and unpredictable as "snowboarding". It's a fun job, but the industry is starting to grow up, and if I can't spend all day riding a snowboard anymore, I'd rather go somewhere where I make more money.

I've got skills in too many areas though, and I'm not specialized in many. Could be a rough road ahead if I leave, but I'm confident it won't be a long one.

[Yeagermeister]

It's not a rumor. It's true and happening. The language hasn't been finalized, but the "interest free loan" part is likely out. It's a $15,000 refundable tax credit to all home buyers, not just first time buyers. In certain versions the transaction can be applied retroactively to your 2008 taxes, so you could immediately amend your 2008 return and have the check mailed to you. I was planning on buying a new home in the summer, so this is fantastic.

What about the home owners? Where's our money? I could use that money to fix up my house and become a home seller. :D

[HoleInTheRoof]

I'm a realtor in southeastern VA.

The key to getting into this business is having at least 6-8 months worth of living expenses saved up. You don't get paid until you sell, which can sometimes take months. My first year in the business, I didn't get a paycheck for 3 1/2 months. Also, your company won't provide benefits as you'll be an independent contractor and not an employee.

If you're a self-starter, hard worker, good with people and paperwork, know your area, and have a lot of contacts, then real estate might work for you.

Don't get into it if you think its easy money. It isn't. Sales jobs will wear you out at times.

[WoodysGirl]

It's not a rumor. It's true and happening. The language hasn't been finalized, but the "interest free loan" part is likely out. It's a $15,000 refundable tax credit to all home buyers, not just first time buyers. In certain versions the transaction can be applied retroactively to your 2008 taxes, so you could immediately amend your 2008 return and have the check mailed to you. I was planning on buying a new home in the summer, so this is fantastic.
Wait, what?

Aww man, that sucks. I want a windfall refund even tho I've been in my house 9 years.. :o:

[Joe Rod]

What about the home owners? Where's our money? I could use that money to fix up my house and become a home seller. :D

How many times can you do it? Let's buy each other's houses this year and again in 2010 (Cha-Ching!)

[DCgirl13]

What about the home owners? Where's our money? I could use that money to fix up my house and become a home seller. :D

No kidding huh? I'm way upside down on my house now because of this crappy market, the nicest thing they could do is help us out. I would love to do the wood floors in my house that we've been wanting for a while. It will help create job security for wood floor companies and installers. :laugh2:

[Yeagermeister]

No kidding huh? I'm way upside down on my house now because of this crappy market, the nicest thing they could do is help us out. I would love to do the wood floors in my house that we've been wanting for a while. It will help create job security for wood floor companies and installers. :laugh2:

Just like the cable company. When you are a new customer they give you the world but an existing customer is screwed. :laugh2:

The funny thing about any repairs or improvements is that 9 times out of 10 a Mexican worker will be doing the job. :laugh2:

[WoodysGirl]

Just like the cable company. When you are a new customer they give you the world but an existing customer is screwed. :laugh2:

The funny thing about any repairs or improvements is that 9 times out of 10 a Mexican worker will be doing the job. :laugh2:My guy's name is Guillermo Bravo. Good man. Hooked my house up.

Gonna call him at some point and get my house re-painted.

[Bob Sacamano]

My guy's name is Guillermo Bravo. Good man. Hooked my house up.

Gonna call him at some point and get my house re-painted.

;) ...

[WoodysGirl]

;) ...
???...

[Yeagermeister]

My guy's name is Guillermo Bravo. Good man. Hooked my house up.

Gonna call him at some point and get my house re-painted.

When I got my roof replaced it took them a day to do the complete job. They started late on the first day and were finished after a couple of hours the second day.

[CowboyFan74]

http://realestate.yahoo.com/promo/home-prices-in-record-plunge.html

National Association of Realtors reports that home prices dropped a record 12.4% in the final quarter of 2008 - the biggest year-over-year decline in 30 years.

NEW YORK (CNNMoney.com) -- Home prices fell 12.4% during the fourth quarter of 2008, the largest year-over-year decline since the National Association of Realtors began keeping comprehensive records in 1979.
The median price for a U.S. home sold during the fourth quarter of 2008 fell to $180,100, down from $205,700 during the last quarter of 2007.
Distressed properties, the foreclosures (http://realestate.yahoo.com/Foreclosures;_ylt=AoIGNE5Hr4aeS_f.77hZ1Z3xkdEF) and short sales that have flooded the market, accounted for 45% of all deals. That has driven sales volume up in Nevada (http://realestate.yahoo.com/Nevada;_ylt=Aue4xG.xW2doMGLNQHXnZ3vxkdEF), California (http://realestate.yahoo.com/California;_ylt=AhN1HE4W7Lxw03r2mVs4nrXxkdEF) and other states hit hard by foreclosures, but these heavily discounted homes have also pushed median prices down.
"People are responding to discounted prices and are slowly absorbing the excess inventory," said NAR President Charles McMillan. "Buyers clearly see value in today's pricing (http://realestate.yahoo.com/calculators/afford.html;_ylt=Ajcf0U3GBm7nfwqHBvNpkDfxkdEF)."
Pain is widespread

The vast majority of metropolitan areas, 134 out of 153, recorded price declines compared with the last quarter of 2007. "Home markets are weak just about everywhere," said Pat Newport, an analyst with HIS Global Insight, "but in a few states, distressed sales are driving transactions."
MORE AT CNNMONEY.COM


Radical Cheap: $1,000 homes
(http://money.cnn.com/2009/01/08/real_estate/thousand_dollar_homes/index.htm)
Tour hot real estate - by bike! (http://money.cnn.com/2009/01/12/smallbusiness/bike_sale.fsb/index.htm)Cape Coral (http://realestate.yahoo.com/Florida/Cape_Coral;_ylt=AtkI6RLjR1TVvEFDKVQP3F3xkdEF)-Ft. Myers (http://realestate.yahoo.com/Florida/Fort_Myers;_ylt=Anwq9eOJ.mFy67.SHiJsxPHxkdEF), Fla., which has the third highest rate of foreclosure filings (http://money.cnn.com/2009/02/12/real_estate/January_foreclosures_ease/index.htm?postversion=2009021206) in the nation, according to RealtyTrac, prices fell a devastating 50.8% for the year, to $110,900 from $225,300. That was the most precipitous plunge for any metro area.
In Saginaw (http://realestate.yahoo.com/Michigan/Saginaw;_ylt=Al5WUsKTz8rxBzjh.C8q0NnxkdEF), Mich., prices fell 41.4%; Riverside (http://realestate.yahoo.com/California/Riverside;_ylt=AuAsh8HcPGlh4iDpzEAnDY_xkdEF)-San Bernardino (http://realestate.yahoo.com/California/San_Bernardino;_ylt=AkCkM.yeLcFpPCp_vgIgaOLxkdEF), Calif., prices dropped 40.8%; and San Jose (http://realestate.yahoo.com/California/San_Jose;_ylt=AlCud8MDgfRobmKNpz2RFKzxkdEF), Calif., prices declined 37.7%.
The Beaumont (http://realestate.yahoo.com/Texas/Beaumont;_ylt=Aiyu6ckSmtGxV_FNualADFvxkdEF)-Port Arthur (http://realestate.yahoo.com/Texas/Port_Arthur;_ylt=AjyUJk49vBGBG.tMd4EdpzXxkdEF) area of Texas bucked the national trend. Its median home price jumped 16.7% to $132,600 - the highest increase in the nation. Other winners included Bloomington (http://realestate.yahoo.com/Illinois/Bloomington;_ylt=AmGmKMYReskjAktZ6wxxtR3xkdEF), Ill., up 9.6%; Dover (http://realestate.yahoo.com/Delaware/Dover;_ylt=At2K3t4XmCxHYQshl_uhMDvxkdEF), Del., up 6.5%; and Bismarck (http://realestate.yahoo.com/Maryland/Bismarck;_ylt=AmF9zv2_jDVsH3oCk8Ejsg_xkdEF), M.D., up 6%.
The high number of distressed sales pushed prices down for several reasons, according to Lawrence Yun, chief economist for NAR. For one thing, many sales were in low- and moderate-income housing developments where buyers during the boom years financed their purchases using subprime mortgages (http://realestate.yahoo.com/loans;_ylt=As58SFCxXZyxOPjDgb9ymAzxkdEF). In higher-end areas, fewer exotic mortgages were used.
"Take Orange County, Calif.," said Yun. "It's the lower-priced areas there where homes are selling. The high-priced areas along the coast are not. That has skewed the results."
And the high number of foreclosures means banks are willing to slash prices deeply to move inventory. Many of the properties they've obtained through repossessions now sit vacant, soaking up lender (http://realestate.yahoo.com/loans/guides/choosing_the_best_lender.html;_ylt=AsIyOcHruRCP0wt aIzXG6c_xkdEF) money for maintenance, heating, property taxes and insurance (http://realestate.yahoo.com/loans/home-insurance;_ylt=AoaJ6BrVQkUJ.Lt1._uNrIDxkdEF). The banks willingly take lower prices to end those cash outlays, which brings down prices even for normal sellers.
Then there's also what Yun calls a "frozen" jumbo-mortgage lending market, which has also slowed sales of higher-priced homes and reduced median prices.
The good news is that bargain prices are bringing many new buyers into the market." Many are first-time homebuyers who were priced out of the market during the boom," Yun said.
Stimulus help

NAR is hoping a piece of the stimulus bill before Congress will build on that momentum and provide an extra incentive for buyers.
"Assuming housing provisions in the economic stimulus package are quickly enacted and provide enough encouragement for homebuyers, we could see a quick lift in home sales for the critical spring home-buying season," said Yun.
On Thursday, it appeared that the final iteration of the homebuyer's tax credit, which had very different provisions in the House and Senate versions (http://money.cnn.com/2009/02/09/real_estate/tax_credit_near/index.htm?postversion=2009021007) of the stimulus package, was shaping up to be closer to the House bill, according to Yun.
That means a credit of $7,500, perhaps $8,000, or 10% of home price for first-time homebuyers. This windfall will not have to be repaid by homebuyers and can be taken off 2008 taxes. NAR estimates that could draw in an additional half million buyers this year.
"It could help reduce the high inventory of homes for sale," said Yun, "and get housing markets moving again. It's hard to get the economy back to growth until that happened."

[Doomsday]

I thought with cheap housing costs, that people would be trying to buy houses

People arent selling there homes right now. We have 30 percent less houses for sale in the Denver area this year, then where up for sale last year at this time.