Home Buying in Westborough>Question Details

Robert, Home Buyer in Westborough, MA

Triple Dip?

Asked by Robert, Westborough, MA Tue Nov 1, 2011

http://money.cnn.com/2011/10/31/real_estate/home_prices/index.htm

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19
Dump your agent.

Find a house on your own. Use Craigslist, Pin up interest notes on kiosks in towns and neighborhoods you like, send out postcards to addresses with your contact information and a short interest note in areas where you would buy.

The article is correct, prices are heading down including towns like WB. People are getting tired of the govt influence and politicians are getting this message finaly.
1 vote Thank Flag Link Tue Nov 1, 2011
Although all price points are still "dipping", somepoints are move volatile than others.
0 votes Thank Flag Link Wed Nov 9, 2011
Typical realtor response to a string with a negative thought on buying real estate.
0 votes Thank Flag Link Thu Nov 3, 2011
didnt see the flat fee suggestion.

What is a reasonable fee if a buyer approaches you at the time they are ready to write an offer on a property. All you do is write offer and deal with any back and forth. I handle everything else.
0 votes Thank Flag Link Thu Nov 3, 2011
Certainly not intending to bad mouth WB. I actually think it is a great place to live and dont plan on moving out of WB. My only question is whether I continue to rent or buy a house.

Why do you care so much if I buy, rent, post on trulia or otherwise. Last time I asked a question on this website I found a lot of useful answers about a half-way house near a property I had interest in (btw my realtor basically misled me when I asked).
0 votes Thank Flag Link Thu Nov 3, 2011
Actually, Robert, I said trolling not because of this particular question or article but because of your regular appearance on Trulia, your routine attitude about the absolute un-reliability of the market and agents in general and your frequent negative comments about Westborough. I just wonder why you keep at it, when you've so obviously made up your mind many months ago...? Why not just go with your gut, move to another area and rent?
I have no objection to bad mouthing your absent agent, the neighborhoods you look at, the area you are choosing for a home, etc... but why keep at it for so long? Bit of a masochist?
0 votes Thank Flag Link Wed Nov 2, 2011
I gotcha. Our clients have been experiencing such low inventory I thought that is what you meant by trolling. Agree, it appears in your scenario it's not worth the risk. Keep us posted!
Web Reference: http://territory.com/
0 votes Thank Flag Link Wed Nov 2, 2011
Holy! How did I miss this part of the conversation:
"My experience with home shopping in this area supports this article. My "reputable" agent concedes prices are declining but always frames it in the context of low interest rates and affordability.
My "reputable" agent also takes me backward ways to see a property to avoid driving by the unkempt house in the area that is about to come up for foreclosure. Games, games and more games."

Sorry, Robert.

Ahh (said in a sink-in-my-seat-sigh-like way not a scream), my favorite topic ... "reputable real estate agents" and are they really "reputable" A very difficult question to answer when you are a buyer. Let me try and simplify: if he/she in addition to helping you is a listing agent (represents sellers/takes listings) that is one check mark not in your favor, if he/she is getting paid a % commission that is another check mark not in your favor, if your agent said he/she was a "buyers agent" but works for a team that takes listings or a company that takes listings that is another check mark not in your favor and if they are using good ol' salesman tactics like taking you the long route to a property so you wont see the bad houses, well then it sounds like it's time to move on.

Get yourself an exclusive buyers agent that works on a flat fee: No sleazy sales tactics, no bait and switch and no double dipping.
Web Reference: http://territory.com/
0 votes Thank Flag Link Wed Nov 2, 2011
Trolling b/c I am scared to death to write a check for 100,000 and then obligate myself to write checks for 3500.00 for the next 15 years. Especially considering I am currently renting an equivalent property for 2300.00.

Plenty of inventory that is suitable, rent to price ratio doesnt make the risk seem worth it.
0 votes Thank Flag Link Wed Nov 2, 2011
A triple dip definitely on its way (or at least i wouldn't be shocked)
It's true re: rentals, in most areas it makes a lot more sense than buying. The flip side, is buy if you can put a nice chunk of money down, 85%+- breeze through the lending red tape - and can get an amazing rate. It also makes sense to buy if you are a cash buyer. Cash is king right now especially for investors who are liquidating part of the rental portfolios. They are ready to make deals and get out.

The issue is inventory ... probably why you have been trolling. There just isnt a lot out there on the market.
#hope4thebest but #prepareforthetripdip
Web Reference: http://territory.com/
0 votes Thank Flag Link Wed Nov 2, 2011
Fales,

I completely agree about the barriers of entry...I am a C.P.A. as well so I take things much more seriously I think.

Amy
0 votes Thank Flag Link Tue Nov 1, 2011
@ Rachelle

First good advise I have heard from a realtor in a long while. You should rent. There are houses in all shapes and sizes in WB for rent.

@ Amy - realtors are hopelessly conflicted. Divorcing buying and selling commissions would help. The other professions you mention actually have a reasonable barrier to entry, so not really a apples to apples comparison. Comparing yourself to a doctor, Really? Can we say delusions of grandeur.

@ Ron - Ahhh, now I get it. Very helpful, thanks for your input.
0 votes Thank Flag Link Tue Nov 1, 2011
Robert,
You've been trolling for months. Why not just settle down and rent?
0 votes Thank Flag Link Tue Nov 1, 2011
If you are not happy with your agent - then there are plenty more. Not all agents are "reputable" some are actually reputable. Do your homework - choosing the right real estate agent is much like choosing the right mechanic, lawyer, doctor etc - not all are equal. Ask for references, resumes, sales history. A reputable agent will happily provide all of the above and more.

And yes...the article is correct. It's also called a "double hair cut market". Being a home buyer - you should be glad to see the prices dropping! :)

Amy
0 votes Thank Flag Link Tue Nov 1, 2011
I tried predicting the future;
I found I was much more accurate quoting history.
If you make enough predictions, some of them might be true.

If you choose to believe something, and you act accordingly,
you are guaranteeing that outcome.
0 votes Thank Flag Link Tue Nov 1, 2011
Market conditions are generally a reflection of the employment situation in a particular area. Massachusetts with an unemployment rate around 7% is doing considerably better than states such as Nevada or Michigan with rates in the teens. There have been fewer foreclosures in Westboro, Northboro and Shrewsbury than places like Worcester and Marlboro as these towns have good schools and great reputations and the housing markets tend to improve more quickly when the economy overall starts to improve. The real estate cliche, location,location,location applies to community as well RR tracks, high tension wires or other noxious factors that can influence a house price. Investing in a community like Westboro when prices are depressed will pay off in the long run.
To keep an eye on the prices in Westboro, log onto my website at http://www.centralnewenglandhomes.com and register to receive new listings in your price range so you will be able to keep an eye on market trends.
0 votes Thank Flag Link Tue Nov 1, 2011
My experience with home shopping in this area supports this article. My "reputable" agent concedes prices are declining but always frames it in the context of low interest rates and affordability.

My "reputable" agent also takes me backward ways to see a property to avoid driving by the unkempt house in the area that is about to come up for foreclosure. Games, games and more games.
0 votes Thank Flag Link Tue Nov 1, 2011
National news are rarely a reflection of the local market conditions. Massachusetts in general is more stable than most other states. With that said, do the research in your own local market (Westborough) with a reputable agent, then make a decision on your real estate activity based on that research.
0 votes Thank Flag Link Tue Nov 1, 2011
Predictions are very difficult; especially about the future.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Tue Nov 1, 2011
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