Comments by "Crime Stoppers" (@crimestoppers1877) on "WHY Would You Buy NOW? Housing Market's STRESSED OUT" video.

  1. I do not consider that there are "Best" seasons to buy or to sell. In my experience, I have bought and sold in each of the seasons. It is always about the DEAL and not the season. I think this consideration of what month to sell is a Self Fulfilling Prophecy that can hurt both sellers and buyers. There are hundreds of reasons for a seller to sell and a buyer to buy , but these reasons are not always dependent on the month or the season. As a buyer I ALWAYS talk to neighbors and ask them questions based on what the house looks like. I also like to check websites such as City-Data which gives crime statistics, school statistics and local information. I always visit the neighborhood and local schools during week days and weekends to give me a feel about the place I would be living. Do I see broken windows, graffiti, homeless tents, refuse or litter in the streets. This has a bad effect on location and value. Is there local transportation? I am in California, so when I see local transportation like buses or trains it is a negative. Most public transportation facilities in this state are crime magnets. During the winter, do you see unpaved roads, snow not removed or potholes? I also look at the US ARMY Corps of Engineers maps and FEMA sites to search for past disasters and flooding which will affect homeowners insurance. How close is the nearest fire station? Over one mile, five miles? Finally "the walk" I always walk an area I am interested in. Do I feel safe, comfortable? Is there street lighting, sidewalks? What do the fences look like? Are there security bars on windows or doors? Why? Are there multiple family dwellings nearby? This indicates the presence of tenants which are not always the most responsible citizens in a neighborhood. What is the vacancy rate of single family dwellings if you are looking for one of these properties? Nationally, when the vacancy-tenant rate reaches 20% it is possible to have a declining quality of the neighborhood. When this happens, real estate prices can drop quickly. Caveat Emptor! Do you hear sirens from emergency vehicles?
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  2. I recommend a different attitude. Never ever worry about what anyone thinks of your offers. The agent is required by law to represent YOU. You can not embarrass an honest and effective agent by offering "too low"! It is Your money or your future debt and you want to minimize your costs and get the best deal that you can. Ask yourself this question: Do you want a real active concerned agent who WILL negotiate for YOU? or do you want a "compliant order taker" who only wants to take it easy on the Listing agent. This is NOT dating! This is not a game! It is YOUR money, energy and time. In most real estate transactions for people like us ( non institutional investors) , think of you ability and willingness to go in to debt in sunshine or rain to buy this house. Consider the possibilities that YOU might have an emergency such as job loss, plant closure, illness, divorce, accident of you or a family member. In that bad situation, will you be able to comfortably pay your mortgage, property taxes and home repairs? Now think about how much you REALLY want to pay for your next house. I only use the CMV, comps and asking as a convenient benchmark that I use as a basis to evaluate what I think the property is worth TODAY and in the future for my situation. Most local agents work together in a real estate association. They know each other and try to stay friendly for their customers and themselves. In my area, when a Buyers agent gets an offer accepted 10% or more below the comps, other agents get upset since when the Comps go down other comps in the area can follow producing a downward trend. This can result in lower commissions. It is NOT your job to keep these commissions high. In my experience of buying and selling I average about 30% below comps for accepted offers as a buyer. No agent has ever been really upset at me (actually one was---he already bought a tickets for a cruise when I backed out of a deal when I caught him fudging on price and conditions). I found he did not disclose problems with the property that was clearly list as "confidential remarks" on the listing. I could have bought it in seconds by signing ( orally approved by seller). I will never take a chance when I have been lied to. Now he had to use his credit cards to pay for the cruise. I hoped he learned a lesson. Always carefully read everything before you sign it. Talking can no be in a contract for this large amount of money.
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