Comments on: Tailspin

By: Thomas Johnson

Thomas Johnson — Wed, 19 Mar 2008 06:27:59 +0000

“Just because we are flying at a lower altitude doesn’t mean the plane is going down.”

Kris: Always remember that they don’t let the bad pilots fly low because they crash too many planes.

Consumers need good pilots now more than ever, and you most definitely are an ace. So put it on the deck and open up those throttles-this is where we were meant to be! (roll Top Gun clip)

By: Ed Gory

Ed Gory — Tue, 18 Mar 2008 00:37:19 +0000

Great post, Kris. New buyers come into the market every day of the week here in the Bay Area, but of course those bubblistas wouldn’t know that, or believe us no matter how many times we told them. Nor would they believe that, on occasion, there are homes getting way over asking price. The buyers are certainly out there. Are we patsies for being facilitators? I personally don’t think so. Like you, most of us realtors are simply trying to do a great job for our clients and make a living while we’re at it (roll tape of Jon Lovitz as Harvey Fierstein: “I just wanna be loved, is that so wrong?!”)

Bitter/envious renters? Quite possibly they are, or maybe they’re just former day-traders trying to shift the blame for their inability to make a quick buck in this economy. Ah, do I miss those late night Tom Vu infomercials!

By: Smithers

Smithers — Mon, 17 Mar 2008 16:56:59 +0000

“they will get their $500 earnest money (which they can barely scrape up) back at closing.”

sigh ….

By: Kris Berg

Kris Berg — Mon, 17 Mar 2008 15:27:02 +0000

Jakob – 25 years? Wow! And I bet you are right about the value they place on those. As a mom, I will tell you that children don’t typically “get it” until they themselves are parents. That’s when the guilt sets in, and it is a day I look forward to.

Thanks for the comment and for your question last week – It helped save us from a lot of dead air time. Honestly, the jury is still out on whether or not I want to give the radio thing another shot. This first time out was Beta, and I will tell you that it is much harder than I expected, and I am still wrestling with the added value (or if there is any). I’ll come to a decision by mid-week. The key is having good questions like yours to discuss and callers who can raise interesting issues. Then, there is always my concern that my mouth might get me in trouble.

By: Jakob

Jakob — Mon, 17 Mar 2008 15:08:56 +0000

Kris, touching comment about the height lines. My parents have a set of those lines from me and my sister dating back 25 years at our summer house, and I can bet they value that as much as anything in the house. You’re right, a house is an emotional investment, and that’s something that few of us put into our spreadsheets.

BTW, I just listened to the radio show, loved it. Thanks for addressing my question. Maybe I’ll call in this week with a little bit more friendly question.

By: Kris Berg

Kris Berg — Mon, 17 Mar 2008 14:09:25 +0000

V – “Their home which is not necessarily their investment.” Add the word “primarily” and you have hit the nail on the head.

P – Those poor, stupid, happy people. Shame on you.

By: Phil Hoover

Phil Hoover — Mon, 17 Mar 2008 13:53:00 +0000

I had the immense satisfaction of helping one of those “stupid buyers” buy their first home this past weekend.
They are a fantastic young (referred) couple who fell in love after meeting on e-Harmony, she is moving to Boise, and they will be blending their young families in a beautiful brand-new starter home.
1,434 sq. ft, 3BR, 2BA, bonus room, cased windows, beautiful cabinetry, etc.
$176,900, zero down IHFA program, and the seller is paying their closing costs.
We will close two weeks from today.
They will get their $500 earnest money (which they can barely scrape up), back at closing and their payments will be equal to rent after tax deductions.
Contrary to all the doom and gloom, there are people who want to buy a home for the right reasons.
I am sitting here feeling pretty good for having been able to help these people achieve their dream of home ownership.

By: Vicki Lloyd

Vicki Lloyd — Mon, 17 Mar 2008 03:39:02 +0000

Kris –

The sincerity of your post comes through and I completely agree that there is a lot more to owning a home than the $ that it brings (or not) in appreciation. For buyers who are looking for a long term committment, to make a house their own personal statement, to raise a family, and create memories, and to be part of a community, there will always be non-financial reasons to buy.

As Realtors, we can help them focus on the neighborhoods, floorplans, school districts, and everything else that will help minimize their financial risk while maximizing their enjoyment and quality of life in their HOME (which is not necessarily their investment!)

Vicki

By: Kris Berg

Kris Berg — Mon, 17 Mar 2008 02:15:49 +0000

Arn – Thank you! Someone gets it!

By: Arn Cenedella

Arn Cenedella — Mon, 17 Mar 2008 02:11:30 +0000

Kris:

You are so right – there is so much more to buying a house than just financial considerations. As a real estate broker for 30 years, I sold some properties too soon and others too late. I have probably bought some properties I shouldn’t have. And I have sold some properties that I should have kept. I tried to do the best I could based on the best knowledge I had at the time given the realities (financial and personal) of my life. But I have lived in the same house I brought 22 years ago. Through all of life’s tribulations (and don’t get me wrong, I have a wonderful life); my home has been my Rock of Gibraltar and the smartest financial decision I ever made. Who could ask for more?