To Jeremy - I feel bad when I hear not nice agent stories as there's a bunch in this county that work very hard. I've met people for the first time that were so apprehensive of me for that very reason. I tell them right away "I promise...I won't make you buy anything you don't want to buy".
In this present market, with so much competition for sales, it can be grizzly out there. My suggestion to anyone looking - find someone you feel is working hard and who you feel you can trust - then stick like glue to them - and they'll do the same for you.
1. 3693 Archetto Dr, El Dorado Hills, CA 95762 -
My wife and I were bored on a Sunday and moseyed into an open house in our neighborhood. What a mistake. It turned out that a husband/wife team were the realtor/broker/owners of the place.
They were soooo desperate that at first I actually felt kinda sorry for themâ€¦until I realized they were lying their tails off and that they had a custom home a few miles away that they lived in full time.
They claimed they paid $640K for this, their â€œhomeâ€ (Realtors donâ€™t like calling houses a â€œhouseâ€), yet public records show they paid $580K for it back in 2005. The flyer clearly said the â€œSellers paid over $640,000 for this pristine bla bla bla â€¦â€
The woman told us right when we walked in that her â€œbottom line price if the buyer did not have an agentâ€ was $450K and quickly added that if the buyer had an agent, the price would be $480K. My wife had to hold back â€“ she almost laughed in the ladyâ€™s face. So they want an extra $30K to involve a buyerâ€™s agent â€“ last I checked the split was 2.5% in the Sacramento area for agents. They were asking roughly $200/sq ft for a crackerbox house in EDH - histerical! Meanwhile the average price per square foot in this area is around $150. In fact, a 3,300 sq ft house down the street from this house they are trying to unload just sold for $375K.
We told them we already live in the development and while trying to leave we told them this again. Yet despite saying this TWICE, the husband said, â€œâ€¦and in case you didnâ€™t know, this development has over 1000 acres of open spaces and several miles of nature trails.â€ WE JUST TOLD YOU â€“ TWICE NOW â€“ THAT WE ALREADY LIVE IN THIS DEVELOPMENT.
Seriously â€“ WTH were these people thinking? As we were walking out, the quack lady says, â€œNow is a good time to buy!â€ I took the high road and told her to have a nice day.
2. Open House on Tuscany Way in Serrano
Bored again, walked into an open house. Realtor immediately plays the fear game and says, â€œInventories are shrinking â€“ you better buy soon.â€ Told her in reply, â€œTrue, that is a seasonal reaction and interest rates are still very low. The rate of defaults in El Dorado County continues to rise and banks are still holding some of their inventory in fear of further diluting the market with more REOs.â€ Complete silenceâ€¦.then her reply, â€œIt sounds like youâ€™ve been doing some research of your own.â€
3. Visit to Craigslist.org Real Estate Section
I see a house that I know just sold on Terracina. I email the agent asking why he is listing a house that just sold one month ago (actually, it was resold a month or two after a bulk sale). No reply. I ask my RE friend about it and he calls to talk to the agent who posted it. He says it was a â€œmistakeâ€ and that it "reposted automatically on its own", but he would delete it ASAP. I email the agent with a different email account and he replies with, â€œActually, an offer was just accepted on this house, but Iâ€™d love to show you my other listings.â€ The listing stayed on Craigslist until it was pushed off with new posts.
While it is true that every industry has its unsavory characters, the percentage of out-for-themselves FIRE (Finance, Insurance, Real Estate) â€œprofessionalsâ€ is substantially higher than other industries. Admit it â€“ you know folks in these industries that were bartending one year and then navigating people through $500K+ real estate transactions the next - at a minimum take of $5K per transaction for themselves. No education needed.
Just for the record. I started in real estate 4 years ago and have only known hard work.. My husband and I bought our first house in 1985 for $105,000 and worked for 25 years to build the equity in our homes using our own sweat. We have never been given anything and are have lost most of that equity just like all the rest of the homeowners today. And my 2004 Acura TL was paid off last December.
I'm sorry to hear your opinion on why people dislike realtors so much. I'm sure you can find people in every profession that bring that group down.
That said, thank you both for the honesty - you are both right on with your numbers. We live in a 3,200 track house in Serrano (aka land of a-holes) and pay $350/month for PG&E and about $120/month for water.