duffbeer

DuffBeer's Real Estate lesson

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Hi to all !!!
I am back , but before I post about stocks I thought I would
comment about the real estate market .
I walk the streets incognito aka DuffBeer but really I am just Dave Bigos
Be careful opening this link it is a scary sight to see !!!!!! you were warned if
you have nightmares or an upset stomach .
http://www.davebigos.illinoisproperty.com/remaxil/index.asp?acc=31535
I am still better looking then Viking Warrior & Vad our SLO 1 friends !
But not as handsome as Russ or Tom nor as pretty as our gold queen Becky.
My phone is always open to my SLO1 &2 friends. I will share my ideas , thoughts
and answer your questions.

I am in Chicago , but the real estate markets across the country are similar----
sad ,bad and rather dismal. Yes some selling is happening, but not like it was before.
Retail prices are out and wholesale prices are working.

The key word in real estate is Patience --- you do not trade these back in like cars !!!!! One must avoid a mistake for it is very costly and you will hear about it often from the one that did not want it.
Another bit of advice-- the lady buys the house guys that do almost always screw up. Be there but tune into the homes fundamentals a/c ,heat,plumbing,roofs ,structural and that boring but very costly stuff.
Keep her happy and when you find it -you both will know.

I always tell buyers to keep the emotions hid thank the sellers but do not flower it up unless you would not consider it for purchase.Keep your power of negotiation strong to your side. Your agent will dislike this but too bad. It is your money.
I am a very different r/e agent as you can already tell .
As far as r/e blogs check this out , you my already know
http://seekingalpha.com/
far left > US markets > housing
My favorite Barry Ritholtz be careful of NAR's numbers

Bottoms a very good subject !!!!! catching one is tuff , when was it every easy?

Rather then that I suggest
1) get pre approved not just qualified this is powerful ,it means you can close
2)search out where you want to live ,choose 2 or 3 choices
drive around those areas and get to feel it , hear it and see if it is home
3) the deal ??? you will pay more for a home then a house
buy a home she will be much happier and so will you
4) go for whole sale ,incredible prices???? I still do not see them except on cable tv
and ads for buying lists on the radio
5) as you tour your areas you will get a feel for asking prices, real sale
closed figures are harder to find. Ask you agent for a list or visit the
tax office. While at the tax office do not be free with info on a home you
want to buy, just get your info and get the heck out of there
6) when your lady has choose the home you should switch your thought process
from buyer to seller . asking 100000 -I'll offer 70 = teed off seller
You want to play ,keep the seller talking and you will still save money.
so you put on your seller cap and think what if I get an offer at 70 what do you do
how about -80 ??? keep the seller in your process you will be more successful.
7) like stocks there are others if you miss one ,I realize it can hurt but most
of the time you will find a home you will like better and at a lower price
8) The world of mortgage financing is nuttier the following the price of oil.
Buyers get your credit in order. Now they want you to pay your bills and
get this have a real down payment. VW and I remember this from way back when.

Need some help or want to run something by me , just give me a call
Cheers, DuffBeer