Catching up & venting (learning curve)
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|Wed, 03-12-2014 - 10:52pm|
I know I haven't posted in a while. Been dealing with my new career in real estate (mostly buyers). I'm doing fine & learning lots. I will say this much. Thank goodness I had 13 years in retail dealing with the public and consumers. Real estate itself is fine and I'm sure the stuff I deal with from both buyers and sellers is a New York thing. Maybe Los Angeles too (who knows). From buyers, the theme is "I live in New York City and paying X dollars in rent. My rent is going up and I want to move to the suburbs where I can buy something and still pay the same amount I was paying in rent." And they add "I want a 2 bedroom condo apartment that's move in ready, lots of space & very cheap." Do these buyers know housing in the NYC suburbs is just as expensive as the city. Yes, you can live about 1 hour north or east of the city and housing will be much cheaper. But none of these buyers want to live an hour fronm New York City. (too rural, too expensive for public transportation, too expensive on gas, etc.) Since Mahopac is on this Board, I humbly apologize and where she is it's not rural. However, to a New York City resident, they will disagree 100%. FYI - I've been in eastern Washington State & that IS rural.
From sellers, their issue is they think their house or condo apartment is worth much more than what it is. I see so many listings with price reductions, it's not even funny. The exception to this and what is selling for premium prices are all the luxury homes. Also, getting sellers to list with me is difficult, because these homeowners want experienced agents. Their problem is the experienced agents esp. those working at large companies only want homes worth $500,000.+. Anything under $500,000. goes to new agents or experienced agents with small or independent firms. The other problem is many homes under $500,000. have issues. Either it needs work, the rooms are small or the homes are too clustered together and no space between the neighbors. Welcome to New York City's suburbs and I hear from buyers expecting homes they see on HGTV. I will admit if you travel an hour or so outside of New York City, yes the homes have more square footage, the rooms are larger and there is space between the neighbors. Within 1/2 hr. of the city - forget about it.
So in a nutshell, I'm basically paying my dues starting at the bottom. Haven't sold anything yet, but I'm moving in the right direction. I am enjoying the flexibility in my schedule and the joy of running my own business. Also looking forward to my husband retiring from teaching at the end of June.