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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: pheilman_ who wrote (212474)	7/25/2009 2:58:23 PM
From: Skeeter Bug	Respond to of 306849

>>I know she still happily "helped" people into "homeownership". << and never once told one of her clients that home prices were wildly overvalued and the risk of falling within a few years was very high. understand one thing - real estate agents work for themselves, not you. don't tell them everything. they will try and get quick sales so they get the commission - even if it cost you money. i worked with a very successful real estate agent for a time. i think he sold close to 40 homes his FIRST 12 months in the business. i heard him sell a client on buying a property because prices were sure to appreciate and they'd be sitting on $200k in another couple years. we get in the car to go and as we are driving home he tells me, "i need to sell my condo, housing prices can't go much higher." true story. he sold and his old condo is worth a lot less than it was when he sold it. the home buyers (who just loved him, btw), are probably down $300k by now.