Darin

Hahaha...funny. This kind of RE agent gives the others a bad name; handing out advice in a market that she doesn't understand herself.

I've been hearing the "its a good time to buy" mantra since March of 2008 and they coudln't have been more wrong. I suggest Econ 101 for all RE agents.

A RE agent without a 4 year degree should just shut up, do what they're asked from their client, push the deal through, and quit handing out advice. - Tue Jan 20 2009, 07:47

Hey John, Thanks for yor input! I would be happy to show you what I have written up to get your feedback.


What is your e-mail address? I'll send you a copy of my draft. - Wed Jan 7 2009, 12:20

Thanks James.


Is there a format of the list/letter that the banks are used to seeing. i.e. bullet points? legal line item style? I want it to be acceptable.



I'd ask my realtor, but she isn't sure herself. This is new territory for her. - Wed Jan 7 2009, 07:46

David..I'm not a naysayer, I'm a realist.


We did sell a "little" late in the cycle. I do know the value of the home we sold and it is now worth 110,000 less than when we sold it.

So back to the math. 110,000 + the 61,000 we saved by not re-buying immediately and we're 171,000 ahead!


That kind of makes sense because that's almost exactly what we have in cash reserves after we put our down payment and remodel budget into an account.


Renting saved us a lot of money. Period. - Wed Jan 7 2009, 10:24

Yeah I was trying to make my example as simple as possible.


Confession: I have an offer on a bank owned house. :) LMAO.



Killer place on 5 acres. with total privacy. Total gut job though. - Tue Jan 6 2009, 22:15

Throwing my money away? Come on David, get real.


Listen, I sold near the top of the current cycle, then found a place to rent for $1,100 per month. 1,100 x 12 (months) equals 13,200 dollars.

In that time, median home prices (in my area) have drop 50,000-100,000 dollars. Take that mean of 75,000 subtract 13,200 and that comes out to a gross SAVINGS of 61,800.

By selling when I did and renting I've "made" $61,000 dollars.



How am I throwing my money away again?



That's the main complaint savy folks that understand market fundamentals have with 95% of RE agents: They don't know squat about economics and pretend that they do, meanwhile giving out outdated advice. - Tue Jan 6 2009, 21:56

Sorry David, but there are actually folks in this world that understand Econ 101 and can make relatively logical projections about markets.


We sold in Nov 2007 (for a handsome profit) and have been renting ever since. How ya' like that David?




Nice thread Vatamin. - Tue Jan 6 2009, 21:37