If so, wouldn't this be a better time to purchase a house? Although I was told that prices may drop even more so give it some time...
Also, do real estate agents get some kind of discount in the state of TX if one was to purchase his/her own home?
2007-12-20 09:20:48 · 9 answers · asked by Princess 3 in Business & Finance ➔ Renting & Real Estate
and the prices here in CA have dropped, and its a buyers market right now.
Yeah your discount would be keeping your commission.
2007-12-20 09:24:35 · answer #1 · answered by Anonymous · 0⤊ 0⤋
This really makes me smile. While you are sitting there figuring out if the home prices are going to go down the homes are being purchased right from under your nose. Home prices have stabilized and will now continue to back up however not on the aggressive side they once where. All the down playing on home sales and the drop in prices are due to the foreclosures that are bring the comps down in certain areas.
All real estate agents will purchase a home and use there own commsions for the discount. Generally speaking that is 3% of the selling price. Hince the 3% to sellers agent and 3% to buyers agent
2007-12-20 10:04:08 · answer #2 · answered by Big Deal Maker 7 · 0⤊ 0⤋
There are many motovated sellers, in default on mortgage or close to it. Prices are what you can buy a home for, and you can buy for less when sellers are in distress sale mode.
Can you afford to wait until more distress sales are on the market? Probably, but not necessarily. What you are looking for is not just market weakness but a particular vendor very eager to sell and waiting for your bid. You have to be shopping the market to encounter those. As the general level of distress increases you have more choice among more motivated sellers.
Real estate agents anywhere may use their privileged position, knowing just how far the vendor is prepared to go, to take a discount.
When a real estate agent buys, they can offer to forgo their agent's commission in exchange for a price reduction.
That has an advantage to them in reducung taxes as compared to accepting the agent commission and paying it back in higher price. When they are financing, the lower price works against them. They look better to the bank accept ing the commission and puttig it toward the dow payment.
Texas may know all about this and require them to take a price discount instead of a commission when they buy.
2007-12-20 09:36:16 · answer #3 · answered by donfletcheryh 7 · 0⤊ 0⤋
Home prices are dropping fast due to alot of different factors, but it has a lot to do with the amount of people defaulting on their mortgages. I think it's a good time to buy now, but prices are definately going to continue to drop until the economy gets better.
2007-12-20 09:25:52 · answer #4 · answered by Anonymous · 1⤊ 0⤋
The housing prices in California could be cut in HALF and they would still be too expensive. Especially in Southern California.
2007-12-20 09:27:23 · answer #5 · answered by Anonymous · 2⤊ 0⤋
no prices in california are going up. i work for an insurance company and we have lots of people moving here to texas becasue they cant afford ther homes in cali
2007-12-20 09:23:33 · answer #6 · answered by Anonymous · 0⤊ 2⤋
like a rock
2007-12-20 09:27:15 · answer #7 · answered by Anonymous · 1⤊ 0⤋
It depends on the area.
2007-12-20 09:23:54 · answer #8 · answered by Anonymous · 2⤊ 0⤋
yes, thank godness
2007-12-20 09:27:05 · answer #9 · answered by alibodalii! 2 · 1⤊ 0⤋