Homes have become very expensive. But guess who's winning. Realtor agents who make a percent on the gross sale and of course the Tax office because as the housing market increases assessments will follow, leaving our posterity to foot the pocket empting taxes. In the long run when someone sells a house for well above the replacement cost they ultimitely need another place to live. So who's making the money, not the seller and certainly not the buyer, but when a realtor who makes 6%, sells a home worth 150,000 and boosts the price to $200,000 it's a $3000 dollar difference. Recently, I found a piece of property which sold for $76,000 in 2004 which consists of 1/3 acre and small cottage. The realtor has it on the market since 2004 for $199,000 as is. Only waiting and ignoring offers of 100,000. By waiting he will eventually get the price, but when taxes are accessed this amount will increase the surrounding properties yearly taxes.
Do you think the housing market is justified?
2006-06-25
01:51:11
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4 answers
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asked by
Robert F
2
in
Renting & Real Estate