I’ve asked this before but how long can houses sit on the market if they aren’t getting any offers since they’re priced what customers see as too high?
Recently my buying agent talk with seller agent and they discussed how much they still owed and told me my offer needed to be higher than that to cover the agent commissions.
Who are these buyers??? You need two upper middle class employed people with have under 45% debt to income ratio, good credit, and a large down payment... That is a very small window of buyers. Slumping Job market. Record credit card debt. 2nd highest cost housing market in history.
There are a ton of qualified buyers out there. Good income and with good savings. If you go to the federal reserve site and look at money supply it is still growing.
I agree. I'm in IT & fortunately, I have a job (but the future is never guaranteed). Although, I know too many relatives & friends who lost their jobs within the past year and are unable to find a decent follow-up job. Would any of these realtors buy property today and pay $3k+ or even 4k+ mortgage payments? I sure wouldn't.
@@Rickhelps it just ties to realtors (not all, but seems in general) advising buyers it's a good time to buy regardless of what's going on (because they benefit from commission). Even though I'd qualify for a $3k-$4k mortgage payment, why would I do that to myself? So, I was stating would realtors buy into properties with today's prices and interest rates for themselves and have $3k-$4k mortgage payments?
My Sotherbys agent has held open houses on Saturday and Sunday, every other week since August 1st and no one has showed. Still no offers on our beautiful N. Scottsdale property, which is listed below the comps.😂
I’ve asked this before but how long can houses sit on the market if they aren’t getting any offers since they’re priced what customers see as too high?
@@claytonelofgren It always depends. In a market like this if you are not getting offers in 30 days it is time to adjust.
@@RickhelpsI’ve seen people go longer than that. And then peope blame the realtor for nobody coming to their open house
@@claytonelofgren That is very common
Recently my buying agent talk with seller agent and they discussed how much they still owed and told me my offer needed to be higher than that to cover the agent commissions.
@@smashdaworld5916 Ouch, your offer should only reflect your budget
Who are these buyers???
You need two upper middle class employed people with have under 45% debt to income ratio, good credit, and a large down payment... That is a very small window of buyers.
Slumping Job market.
Record credit card debt.
2nd highest cost housing market in history.
There are a ton of qualified buyers out there. Good income and with good savings.
If you go to the federal reserve site and look at money supply it is still growing.
45% is way too high! That is crazy. You can't do any "living" or have any fun if you are at 45%.
I agree. I'm in IT & fortunately, I have a job (but the future is never guaranteed). Although, I know too many relatives & friends who lost their jobs within the past year and are unable to find a decent follow-up job. Would any of these realtors buy property today and pay $3k+ or even 4k+ mortgage payments? I sure wouldn't.
@@jeffg4096 Why are you only asking if realtors would buy a home?
@@Rickhelps it just ties to realtors (not all, but seems in general) advising buyers it's a good time to buy regardless of what's going on (because they benefit from commission). Even though I'd qualify for a $3k-$4k mortgage payment, why would I do that to myself? So, I was stating would realtors buy into properties with today's prices and interest rates for themselves and have $3k-$4k mortgage payments?
My Sotherbys agent has held open houses on Saturday and Sunday, every other week since August 1st and no one has showed. Still no offers on our beautiful N. Scottsdale property, which is listed below the comps.😂
N Scottsdale was always a tough place to hold an open house for me. There is not enough traffic on the streets up there.