What a great time to be a realtor

[luberhill]

Friend of mine is raking in the cash !

Sold over 9 million last year , there houses today !

Not sure how long it will last but she’s doing VERY well !

[moog5050]

I have no doubt things are good. But keep in mind, reason that prices are high is limited volume (not good for realtors) and an informed buyer or seller will negotiate reduced commissions.  At least I did.  

[BizCT]

Friend of mine is raking in the cash !
Sold over 9 million last year , there houses today !
Not sure how long it will last but she’s doing VERY well !

$9M could be 1 single apartment, condo or house. All depends on the location.

I heard there’s over 100K realtors in NY alone nowadays. Crazy competitive market.


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[luberhill]

1 hour ago, Biz-R-OWorld said:

$9M could be 1 single apartment, condo or house. All depends on the location.

I heard there’s over 100K realtors in NY alone nowadays. Crazy competitive market.


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It’s crazy .. houses selling for 450

assessment 150 

[luberhill]

1 hour ago, Biz-R-OWorld said:

$9M could be 1 single apartment, condo or house. All depends on the location.

I heard there’s over 100K realtors in NY alone nowadays. Crazy competitive market.


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Yea this area is 200 to 400 homes

[Gobbler Chaser]

Good for them, they have their ups and downs. They work hard too

[The_Real_TCIII]

It's good and bad. Theres no inventory so if you get a listing you are going to sell it immediately, over asking, to a buyer with no contingency, no inspection, and in many case cash. If youre a buyer and dont have those pieces its going to be a frustrating process finding a home


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[rachunter]

I've been bouncing around the idea of moving down into the southern zone. I looked at a place in Chenango co. Saturday it was beautiful except for they didn't finish installing the electricity.Just on that and a few county ordnance's I turned it down.It seems ether there low end high tax area's or three times the original price.The other thing is when one hits the market it goes faster then lightning.My property is worth three times what I payed for it ten years ago and that's without the upgrades I made.

[Paula]

3 minutes ago, rachunter said:

I've been bouncing around the idea of moving down into the southern zone. I looked at a place in Chenango co. Saturday it was beautiful except for they didn't finish installing the electricity.Just on that and a few county ordnance's I turned it down.It seems ether there low end high tax area's or three times the original price.The other thing is when one hits the market it goes faster then lightning.My property is worth three times what I payed for it ten years ago and that's without the upgrades I made.

I learned when I was looking for a house, if they didn't finish electric or drywall there is an issue with code. Wasn't true with all but you never know

[Moho81]

1 hour ago, The_Real_TCIII said:

It's good and bad. Theres no inventory so if you get a listing you are going to sell it immediately, over asking, to a buyer with no contingency, no inspection, and in many case cash. If youre a buyer and dont have those pieces its going to be a frustrating process finding a home


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So your telling me to just continue to renovate my home and not look at moving to a new home. Got it! 

[First-light]

I sold mine without a Realtor. 

[Bolt action]

My wife and I have been wanting to move for a few years now. Our current home was our first house and a great starter home in that it hasn't needed and big maintenance items. When we bought it, my mother in law lived with us, so we had to make some concessions to accommodate her. (On a side note, she moved out 2 weeks after we moved in.) Now we're looking for something that would be big enough for our growing family and have some of the things that we had to pass on the first time around. We'd also like to move before some of those big ticket items need replacing. The problem is, in this market, we couldn't afford our current house, let alone an upgrade. What @The_Real_TCIII is spot on. I spoke with a realtor friend of mine who said that there are generally 2 groups who are poised to buy in this market: young people with good jobs who currently live with mommy and daddy; and people who's jobs are based in the downstate market but are no longer tied to an office. The younger folks can bank most of what they make and jump on a house when they see one, cash in hand. And the downstate folks take advantage of the more affordable (relatively speaking) upstate market where they can live and work remotely. The typical middle class family looking to upgrade are the ones having the hardest times making moves until this stabilizes. My friend's advice? Purge stuff that you've accumulated and no longer need, and make any updates that you want now so that when the market cools, you're in a better position to take advantage of it.

[mlammerhirt]

2 groups who are poised to buy in this market: young people with good jobs who currently live with mommy and daddy

.........and that young person who lives with Mommy and Daddy also needs to have zero student loans and no credit card debt. If they can start adulthood with those two factors... they will have a running start at life.

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[SWEDE]

3 hours ago, First-light said:

I sold mine without a Realtor. 

How was that. You did the legwork and attorney did the rest. Is it a simple process

[Nomad]

16 minutes ago, SWEDE said:

How was that. You did the legwork and attorney did the rest. Is it a simple process

My buddy in AZ is some sort of banker, when I said I was using a attorney for our closing , he asked why ? Out there it’s all handled by a bank clerk .

NY makes everything overly complicated. I have a relative who became a realtor  recently, his prior “ job “ was an aspiring rapper , can’t be to hard .

Edited February 22, 2022 by Nomad

[fasteddie]

We bought our 4 bedroom Colonial in 1969 for $27,500 . We put an addition on and made some other improvements . Our house is now assessed at $212,000 . If I could sell it for that much , I would probably down size .

[mlammerhirt]

We bought our 4 bedroom Colonial in 1969 for $27,500 . We put an addition on and made some other improvements . Our house is now assessed at $212,000 . If I could sell it for that much , I would probably down size .

You can.....but downsizing is gonna cost you 400k.

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[First-light]

2 hours ago, SWEDE said:

How was that. You did the legwork and attorney did the rest. Is it a simple process

I have sold 3 houses in NY without a Realtor. Yes my Lawyer gave me forms for potential buys to fill out and sign with offer. Buyer schedules inspection and gets survey done. Lawyers do all the rest. I advertised online and some local papers. This last one was the easiest because my friend bought the house. 

[luberhill]

6 hours ago, Bolt action said:

My wife and I have been wanting to move for a few years now. Our current home was our first house and a great starter home in that it hasn't needed and big maintenance items. When we bought it, my mother in law lived with us, so we had to make some concessions to accommodate her. (On a side note, she moved out 2 weeks after we moved in.) Now we're looking for something that would be big enough for our growing family and have some of the things that we had to pass on the first time around. We'd also like to move before some of those big ticket items need replacing. The problem is, in this market, we couldn't afford our current house, let alone an upgrade. What @The_Real_TCIII is spot on. I spoke with a realtor friend of mine who said that there are generally 2 groups who are poised to buy in this market: young people with good jobs who currently live with mommy and daddy; and people who's jobs are based in the downstate market but are no longer tied to an office. The younger folks can bank most of what they make and jump on a house when they see one, cash in hand. And the downstate folks take advantage of the more affordable (relatively speaking) upstate market where they can live and work remotely. The typical middle class family looking to upgrade are the ones having the hardest times making moves until this stabilizes. My friend's advice? Purge stuff that you've accumulated and no longer need, and make any updates that you want now so that when the market cools, you're in a better position to take advantage of it.

How about the old retired guys that want a more modern home

[First-light]

Timing is everything in the stock market and real estate. I flipped a number of houses never lost a dime. Now I'm 58 and headed to retire to the cabin in August. I have two multi family homes for passive income. The timing on this last house could't be better. I sell at a high price and move into something I own. You can't control it, it just happens. 

[Wildcat]

3 hours ago, fasteddie said:

We bought our 4 bedroom Colonial in 1969 for $27,500 . We put an addition on and made some other improvements . Our house is now assessed at $212,000 . If I could sell it for that much , I would probably down size .

you may be shocked at what you can get for it

[luberhill]

22 minutes ago, Wildcat said:

you may be shocked at what you can get for it

Agree .. most are going for thousands over assessment

[doebuck1234]

4 hours ago, fasteddie said:

We bought our 4 bedroom Colonial in 1969 for $27,500 . We put an addition on and made some other improvements . Our house is now assessed at $212,000 . If I could sell it for that much , I would probably down size .

 

36 minutes ago, Wildcat said:

you may be shocked at what you can get for it

Agree'd. Someone in the family just sold for $39k over the listing price

[Nomad]

I’d be surprised if Eddie’s house didn’t sell for $250 plus . 

[Trad bow]

It’s crazy times my wife and just sold and bought in August. We put in offers on a handful of houses and everyone was listed for 5-7 days and then the seller went over the offers and excepted one. We offered 65k over list on one only to have an offer 40k over ours! In the end we sold ours for way over the value cash and bought our dream house (for well over list). We listed for five days and had six offers to choose from.