The Misguided Good Samaritans in Real Estate

Jonathan Dalton, Phoenix Real Estate AgentTwo observations for the price of one.

The first involves a family member of one of my prospective buyers who came in from Los Angeles to look at a home my buyer’s been mulling over. “Write them an offer, you know, 20 or 25 percent below and see what happens.

“Right,” she adds, looking at me.

“This isn’t LA,” I said. “I can’t guarantee it, but I’m almost certain the seller won’t even consider the offer serious at that price.”

Phoenix isn’t Los Angeles. Every real estate market is different. Which brings us to the second observation …

Someone on Trulia Voices has been kind enough to begin answering questions en masse, except every answer essentially is the same:

wait

it’s still a bubble

rent

good luck

Let’s try this on something else.

Should I fill up my tank?

wait

walk

gas will be cheaper

good luck

Should I Super Size my Big Mac?

wait

prices will go down

you don’t need the calories

good luck

With a little effort (which I will not put forth) we can turn this into Magic-8 ball inspired mediocre advice haiku!

I have no doubt that the person means well but blanket advice about real estate is all but useless. This person doesn’t know anything about any of these folks’ situations. He or she doesn’t have in-depth knowledge of the markets involved. Renting might be a good idea. It might not. But it’s not a suitable blanket reply. It’s no better than the opposite “it’s always a good time to buy” mantra. Yes. Maybe. Or not. It depends.

Not that a bubble-head ever will see it this way, but it’s not a pure black-and-white issue.

[tags]Phoenix real estate, real estate bubble, Trulia Voices[/tags]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

0 Comments

  • Prepaid Legal Service Guy 10 years ago

    Hopefully people aren’t actually taking this character’s advice. I was thinking it sounded like the magic 8 ball as i was reading through the Q’s and A’s.

  • Phyllis Harb 10 years ago

    Every market is different -yes! And you are correct about blanket advice, we need to probe even deeper into the question…. “How much is my house worth?’

    might mean:

    I think I owe more than it’s worth – what do I do?

    I might want to sell my house if I can get the right price, because I think the market is getting worse

    I am just curious

    My credit line was cancelled and I don’t know why

    etc…

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