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Redfin Real Estate Forums :
Bay Area :
Re: This is no longer a buyer forum
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This is no longer a buyer forum
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RMS
Regular Contributor
Posts: 458
Registered: 06-07-2009
Message 1 of 52
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it is a real estate hijacked forum. If you want to be talked into buying an overpriced property this is you baby. I recall 2008 when they said "its a great time to buy" and prices in ground zero dropped 40%. LOL 2009 will be another 20-30% drop in ground zero. Nobody is getting a raise, nobody is finding a job. We have no manufacturing base, we gave it away. If we want to start to manufacture, green regulations will stop you in your tracks. Ground zero investors hoping for foreclosed homeowners will rent from them. There is no growth, there is only deflation. Don't buy this hype, it may as well be the NAR.COM
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10-05-2009 08:55 PM
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Re: This is no longer a buyer forum
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AstroWallaby
Contributor
Posts: 23
Registered: 05-26-2009
Message 2 of 52
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I suppose in all fairness it's worth remembering that this forum is hosted by a company which exists to *sell real estate*... Not defending any of the "A Bay Area house home is the best investment you could ever make, ever!" garbage you see thrown around by saying that, of course. But it's a little bit extreme to call everyone who contributes "positive* advice on how to actually buy a house (no matter how bad an idea it *may* be given current macroeconomic conditions) a mindless real estate shill. (Some of them may be very smart real estate shills...) If someone's done the math (or not, as may well be more likely) and convinced themselves that they just absolutely have to buy right now then they have the right to ask for help and possibly get it. If realtors could be held legally responsible for the claims they make regarding the quality of the investments they encourage people to make there might liability reasons for Redfin to clamp down on the "best investment ever" crud, but that's not happening any time soon. (And it's hard to argue that real-estate cheerleading negatively affects their business.) One should probably be thankful that they don't spend more time shooting down the dissenting views.
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10-06-2009 08:21 AM
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Re: This is no longer a buyer forum
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PB09
Contributor
Posts: 24
Registered: 04-28-2009
Message 3 of 52
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This question is asked very often "If this is good time to buy". and if you are asking this question then you should not be buying. On the other hand if you understand worth of a house than you need not ask this question and probably go for buying. At the end of it, there are always good buys and bad bets, just choose wisely. Thanks. -PBS
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10-06-2009 01:05 PM
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Re: This is no longer a buyer forum
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lexa
Regular Contributor
Posts: 256
Registered: 05-13-2009
Message 4 of 52
Viewed 1,095 times
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RMS wrote:
it is a real estate hijacked forum. If you want to be talked into buying an overpriced property this is you baby.
i don't get this impression really, i think forum is balanced. i visit forum almost daily...
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10-06-2009 01:14 PM
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Re: This is no longer a buyer forum
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menonymous
Contributor
Posts: 14
Registered: 07-09-2009
Message 5 of 52
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I'm somewhat inclined to agree with you about the change in the forum, RMS, but I believe that the tone of this board is largely due to your influence. You have in the past provided tremendously useful and informative threads and responses, but over the last few months your posts have taken on an increasinlgy negative and angry tone. I don't mean a cranky post here or there -- I think that most of us do that once in a while -- but rather the bulk of your comments from July or so onward. Do *you* want this to be a informative forum, or an outlet for angry screeds? You yourself have a lot of power to control that. I read the other California forums from time to time, and I can't help but think that Bay Area is the one that is mentioned (but not by name) in the Inland Empire forum thread Respectful Thanx. As to the other particulars... Being talked into buying an overpriced property? My monthly mortgage payment is nearly $1000 less than my rent was and I love my house. I don't like the reduction in my liquid savings, but I feel that I made a good choice and am working to rebuild my liquid savings. No raises, no jobs? I did get a raise in 2009, and most of the people who I know who were laid off in the spring have found work in their fields, in some cases better jobs than they had before. Maybe these are isolated pockets, but true nonetheless... Another 20-30% drop in values? I look at my mortgage as a hedge against a return to inflationary rents and unscrupulous landlords. I'm in this house for the long term. I don't want to live in corporate-owned apartments anymore, but I wouldn't consider renting now from an individual because I'd have no way of knowing when the place I'm renting is going to be foreclosed out from under me. I know two people in that situation right now. Bottom line -- I made what I believe to be the best decision for my future, and every person in this forum, whether they are lurkers or heavy contributors or something in between, must do the same. But we can help each other out along the way.
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10-06-2009 09:51 PM
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Re: This is no longer a buyer forum
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bajafresh
Regular Contributor
Posts: 116
Registered: 08-25-2009
Message 6 of 52
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"menoymous" -- Excellent points. I share the same sentiment as you, particularly on housing as an excellent inflationary hedge. I am convinced that inflation will be high 5-7 years from now (if not sooner) due to our massive Federal debt.
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10-06-2009 10:05 PM
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Re: This is no longer a buyer forum
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chris_cmf
Regular Contributor
Posts: 224
Registered: 04-18-2009
Message 8 of 52
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In 360 months, MY house will be paid off, no matter how the purchase price fluctuates. In 360 months, renters will have paid off their Landlord's property.
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10-07-2009 09:04 AM
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Re: This is no longer a buyer forum
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Michael_P
Contributor
Posts: 20
Registered: 07-01-2009
Message 9 of 52
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I concur with Chris' comment. I think what really shows on the forum is that there is a certain separation between the "Haves" and "Have not's" I don't know if this was the correct time to buy, but I bought a house that I could afford, so it doesn't really matter to me. I bought a house that intend to live in for a while. The main purpose for the purchase was not for investment, but it was because I wanted a home. I didn't take out any exotic loans to buy, I put 20% of my hard earned money down on a 30yr fix towards a home my wife and I both liked. We're happy with our choice, end of story. I'm not a realtor, nor am I rich. I just work hard and hope the gov't doesn't employ policies to encourage laziness and discourage hardworking people like myself.
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10-07-2009 09:43 AM
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Re: This is no longer a buyer forum
[ Edited ]
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BarkNuggets
Contributor
Posts: 13
Registered: 08-06-2009
Message 10 of 52
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My wife and I close on our first house in a couple of weeks. We bought a three-bedroom home we can afford, 22% down conventional conforming, with mortgage payments a few hundred more than we were paying in rent for a two-bedroom apartment. We both have stable jobs we've been at for a long time, home prices have come down enough that we now have a great opportunity to buy, and we like that we're getting in on low interest rates. Could we wait another year and get the same home for 10% less? Sure, I suppose so. Am I going to lose any sleep at night over it? No way. Am I a "shill" for the real estate industry? Hahaha, no way. Will I enjoy living in my new home? Heck, yes! Message Edited by BarkNuggets on 10-07-2009 10:06 AM
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10-07-2009 10:05 AM
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