Jim Gleason

Price declines are just getting started. Anyone buying now will be very sorry. Prices will go back to 2004 levels at a minimum. Be patient and watch the pain from the sidelines. - Mon Mar 10 2008, 10:44

It sounds to me like you are screwed. Send the keys to the bank and write it off. Since you didn't put anything down, you haven't lost anything. Time to flush the house with the girlfriend and chalk it up to life experience. - Sun Mar 9 2008, 12:35

Unless you live within a gated community less than 1 mile to the ocean, you are not safe in Southern California Our economy is breaking down and people are getting angry and nasty. Anyone who appears as though they have money is a potential target. Beware and be safe. - Sun Mar 9 2008, 10:27

If you can't get financing, the deal is null and void and you will get your money back. There are lots of ways to torpedo the financing. For example, you can tell the lender that you're unemployed and have no source of income. I'm sure you get my drift.

You can also tell the builder that they cancel or you will make their life a living hell. You will not sign off on the house until every scratch is fixed and the house is 100% perfect. Since no house is perfect, they can't possibly get your satisfaction.

Don't let some scumbag realtor try to convince you that you can't get out. They all say that because they want their commission dollars. - Sun Mar 9 2008, 09:48

Realtors are pretty worthless in my opinion. The good thing about the bubble burst is that most of them will be forced to earn a real living. I predict you'll be doing wedding pictures within one year. - Sat Mar 8 2008, 13:25

Now Danielle is slowly admitting the truth. The real question is why a buyer would want a person with a degree in Fine Art Photography representing them on the biggest financial decision of their life.

Plus let's face it. The buyers agent only gets paid if the deal is consummated. That means they push the buyers to agree to make the purchase. Are they truly an independent representative of the buyer? I say no way. They want to make a sale. Will they honestly tell the buyer that it's not in their best interest to close the deal when they know they won't get paid?

LOL!!!! It's time people get educated about the real estate industry. It's full of snakes and vipers. - Sat Mar 8 2008, 13:09

By the way, Danielle has a degree with Fine Art Photography. I didn't realize that curriculum included real estate negotiation, law, finance, construction, land use, and zoning.

LOL!!! - Sat Mar 8 2008, 12:45

If you go direct with the listing agent, tell the listing agent that you prefer to deal direct and would like a concession on the buyers commission. 9 times out of 10 they will agree to that because they would prefer to deal direct than through a buyers agent and they will net the same commission either way.

You have to know how to play the real estate game. Right now, the best way to play it is from the sidelines laughing at all of the idiots who are trying to sell to the few remaining buyers who haven't heard that the bubble has burst.

2 years ago, realtors were telling buyers they had to buy now or forever be priced out of the market. That turned out to be a bunch of nonsense. - Sat Mar 8 2008, 12:42

I always prefer to go directly with the listing agent and not deal with an unnecessary middle person. Don't let real estate con artists tell you how complicated it is and how you can't handle it on your own. They are just trying to scare you into using them so they can collect a commission off of you.

When you deal directly with the listing agent, you can get a better deal because there isn't the added commission of a buyers agent.

Personally, I wouldn't be buying any real estate right now. The bubble has burst and prices will remain in decline for a long time to come.

Be patient and watch the carnage from the sidelines. You'll be able to get a much better deal 1 or 2 years from now. The short sale/foreclosure cycle is just beginning. This is going to get much worse before bottoming.

Think for yourself and don't be swayed by self interested con artists. Most realtors don't even have a college degree and yet hold themselves out as an expert. In my opinion, they are experts in nothing other than spewing a bunch of snake oil double talk. - Sat Mar 8 2008, 10:22