Offer like a man

divorce

Sarah thinks I suck. “My bf is all ‘Garth this’ and ‘Garth said that’ and he reads your stupid blog before he comes to bed, so thanks for nothing. We’re buying a house. Go away.”

Well, what a lucky dude Sarah’s guy is. Nothing like a strong woman to remind us this wretched sex was invented to serve and protect. Just like cops. But unarmed.

Actually, real estate turns me on. However I worry about people who buy at the top of an unsteady market, or take on staggering debt for an emotional reason, or have the bulk of their net worth in a single asset at one address. All of that leads to the same place. Risk.

But if you’re horny to make an offer, at least follow my ten basic rules.

First, get an agent. One who’s experienced in the hood, has an independent streak and knows how to dicker. This person should help you research properties, pull comparables, get past selling histories and represent you through the bargaining process. In most cases the seller pays all costs, so this guy comes free of charge, and yet is legally bound to act in your best interests. Why would you not want this?

Second, research the sellers once you target a listing. Find out what they want (besides a lot of money). Why do they have a certain closing date? What are the circumstances of the sale? Are they desperate or fishing? You only get one shot at making a good first impression with an offer. You might discover that by offering them something they value (like a long close so they can find another home) you get the house for less.

Third, try not to be a dick. If you get all Calgary on people, coming on like a vulture with a lowball offer covered in testosterone, you’ll usually get a fight instead of results. When people are vultched they usually respond with a sign-back at, or near, the original asking price. Now you’re miles apart, and they’re pissed. Hardly the environment in which to strike a deal. Your smart agent will tell you this. Listen.

Fourth, always scrub your offer. The cleaner the better. Conditions turn a strong offer into something quivering and flaccid, like Sarah’s boyfriend.

Fifth. However, never buy a house without insisting on a home inspection. If it’s a hot market with competing interest for the place, get the inspection done before you offer. Otherwise, it’s common practice now to have someone come and dissect the property, usually within five business days of an accepted offer. If you find something revolting, you can bail. If repairs are needed, you can reopen up the offer by refusing to remove the inspection condition until a lower price is negotiated. Have an estimate to back it up.

Sixth, never make an offer conditional on selling another property or on securing financing. Okay, this may work in Hicksville, or if the seller is a complete idiot, or drives a Kia, but in real life this is not considered a serious offer. Besides, conditions always mean you end up paying more money. So, sell your other house first and get pre-approved for a mortgage. Then go clean.

Seventh, get a survey. And title insurance. So many buyers miss ensuring there is an up-to-date survey and come to regret it later when a mortgage company insists on seeing one or the city parks a backhoe on your lawn. If the seller has no survey, insist one is done at his or her expense. As for title insurance, it’s cheap protection against not only a lousy lawyer but also little irritations like the former owner not having paid property taxes or municipal services. Remember that a title dispute of any kind can keep you from being able to sell.

Eighth, put down the biggest deposit you can muster. It impresses sellers and people who shop at Costco. It gives your offer weight and authority. It lets you negotiate a better price (as strange as that seems). And it need not actually be paid until the thing is done and the offer is accepted. BTW, if the deal falls through – even if you walk – you’ll get your deposit back (although with other consequences). Unfair to the seller, but tough.

Ninth, make the sign-back period on your offer short. Don’t give them two days to mull it over or for their agent to call everybody who was remotely interested in the house, looking for competition. Present it at 6 pm and give them until midnight. Tops. Have your agent present it in person. Wait in the car. Carpe diem.

Finally, remember that stale listings rock best. If you want real estate that’s cheap, go for the ugly ducklings that have the fattest DOMs. Often originally mispriced by a bad realtor, they languish through several price cuts until finally selling for below market value. Sellers are far more motivated, sick of empty open houses and afflicted with showing fatigue. Put them out of their misery, and reap the rewards.

So, Sarah. There ya go. Just come back to bed.

145 comments ↓

#1 None on 04.01.13 at 9:13 pm

FIRST!!

#2 None on 04.01.13 at 9:13 pm

Sixty ninth!

#3 None on 04.01.13 at 9:16 pm

What the?
“However, never buy a house with insisting on a home inspection.”

#4 Ralph Cramdown Ⓤ on 04.01.13 at 9:18 pm

OK, all you real estate agents who come here and beg to differ. What say ye today?

#5 Tom Vu on 04.01.13 at 9:20 pm

Fiiirsszzzttttt

Stick to infomercials and blondes. — Garth

#6 Vernie on 04.01.13 at 9:22 pm

Excellent post ! Love the advice.

#7 East Van on 04.01.13 at 9:27 pm

http://www.nytimes.com/2013/03/31/opinion/sunday/sundown-in-america.html?src=me&ref=general

#8 Chickenlittle on 04.01.13 at 9:28 pm

You forgot to mention that bidding wars are for losers…don’t get involved!

#78 Fed Up from yesterday’s blog:

You are hilarious, and right on. I enjoyed your post very much.

I got a temp job a few years ago. I was working with a guy who lived near Lakeshore and Islington. He paid $170k for his house 13 years ago now, and he told me that all of the people moving into the neighbourhood were accountants, professors, and other types of white collar workers. They all paid over $400k at that time to live at Lakeshore and Islington. Very sad! I wouldn’t pay that.

#9 Andrewski on 04.01.13 at 9:29 pm

Great points Garth. Due diligence is the key to a successful purchase, especially crucial with a big ticket item like real estate.

#10 Steev on 04.01.13 at 9:29 pm

Great advice…but #8 left me scratching my head.

How is it that the buyer can keep the deposit if they are the one who backs out of the deal? Isn’t the whole point of the deposit to prevent that?

#11 Sherwood Park on 04.01.13 at 9:31 pm

Great advice. Should be part of the Alberta Grade 12 curriculum … along with how to open a bank account, saving for a rainy day, and simple interest calculation.

#12 T.O. Bubble Boy on 04.01.13 at 9:32 pm

Finally, remember that stale listings rock best. If you want real estate that’s cheap, go for the ugly ducklings that have the fattest DOMs.

And – on this point – remember that almost every realtor will simply pull a listing and then re-list if it sits for more than 30 days… so, you need to look at ALL listings for the property, not just the current one.

In Toronto, guava.ca (and Google) are great tools for finding listing history without a Realtor.

#13 Frizzzz on 04.01.13 at 9:32 pm

Good post!

#14 Brad Lamb on 04.01.13 at 9:33 pm

Garth, I will give you 5 bucks and a ride in my Beemer if you shut down greater fool forever and ride off into the sunset. I gotta get those T.O condos sold and you are not helping matters.

#15 Julie on 04.01.13 at 9:34 pm

Please choose the following as being the most true:

Extra Terrestrials exist.

The Housing Market is just fine.

Politicians are honest people.

#16 Smoking Man on 04.01.13 at 9:36 pm

No time top post dogs, working on an BatMan Camel Toe app. to allert the Great One when to put on trades , calculate risk, stops and profit taking points….

Obviously I have a highly addictive personality…….

See you in a few days DOGS………………,

#17 What about CMHC? on 04.01.13 at 9:38 pm

There were some good April 1 pranks today! WestJet, Google Nose…

but what about our CMHC?

#18 Drill Baby Drill on 04.01.13 at 9:38 pm

In Calgary if you want an excellent indicator of future real estate market trends look no further than current oil & gas engineering hiring. Many if not all engineering firms in Calagry are laying off or have plans to do the same in the next few months. It is not a bed of roses in Cowtown just wait and see over the next 2 mths. It is amazing how many of these so called smart engineering professionals have a second condo in the mountains or BC interior while still owing on their primary residence. It is going to get ugly.

#19 Smoking Man on 04.01.13 at 9:39 pm

#15 Julie on 04.01.13 at 9:34 pm
Please choose the following as being the most true:

Extra Terrestrials exist.

The Housing Market is just fine.

Politicians are honest people.
……………………………………………………

Extra Terrestrials exist. :}

#20 Tom from Mississauga on 04.01.13 at 9:42 pm

“afflicted with showing fatigue”

I know it all too well. Doesn’t take long either.

#21 T.O. Bubble Boy on 04.01.13 at 9:42 pm

Wow – first the 2.99% mortgage wars, and now the banks are starting a savings account battle.

ING (now owned by Scotia) promoting a 3-month special rate of 2.50% on new $ put into savings accounts:
http://ingdirect.ca/en/landingpage/sale/

Will others follow suit?

#22 Tom Vu on 04.01.13 at 9:43 pm

#5 Tom Vu on 04.01.13 at 9:20 pm

Fiiirsszzzttttt

Stick to infomercials and blondes. — Garth

=================================

No hard feelings…..if you call now..you get this free with my updated Real Estate Tips (and throw in Ginsu knives !!!)

http://www.youtube.com/watch?v=2SztbsiTLH4

Smoking Old Man….we have one for you when in ICU unit for the machine you so praise !

#23 Alyce in Wonderland on 04.01.13 at 9:43 pm

I know this sign, it is in the Greek quarter at Danforth going to Don Valley/Don Mills.

I always laugh when I see it.

#24 AK on 04.01.13 at 9:44 pm

“It impresses sellers and people who shop at Costco.”
——————————————————————–
Love Costco. I have been holding the stock since 1995. It now comprises 6.5% of my stock portfolio.

#25 T.O. Bubble Boy on 04.01.13 at 9:45 pm

@ #14 Brad Lamb on 04.01.13 at 9:33 pm
Garth, I will give you 5 bucks and a ride in my Beemer if you shut down greater fool forever and ride off into the sunset. I gotta get those T.O condos sold and you are not helping matters.
———————–
Clearly you are an imposter… Brad J Lamb drives a Bentley.

And – he wouldn’t pay $5, he’d just give you a special deal on upgrades if you buy a condo from him.

#26 Friendly Bank on 04.01.13 at 9:45 pm

I wouldn’t suggest removing any financing conditions these days..that would be like playing with fire with new bank rules…unless of course you’re putting 50% down. But that would mean that Garth’s followers are on the hunt!

#27 Alyce in Wonderland on 04.01.13 at 9:46 pm

It is at the top at a crappy repair house with a sign advertising 20 years of growth… Imagine what they started with… to end up advertising such crap…

#28 Goldfinger on 04.01.13 at 9:48 pm

nice try Garth….http://househuntvictoria.blogspot.ca/

is alive and well….its april fools ya know!

#29 TurnerNation on 04.01.13 at 9:51 pm

HHV: I thought boomers sold their soul for rock n roll?
Use the cash for a spine.

Anyway in Toronto I call a double top with this 1 mill semi:

http://themashcanada.blogspot.ca/2013/02/and-it-went-for_24.html

#30 Bottoms_Up on 04.01.13 at 9:51 pm

Great real estate agents can be female (mine is). Good advice from Garth, we did well on a languishing listing (home owners had let the finer details go, but the bones of the house, the lot and location are great but most people couldn’t get past the finishings).

#31 Sir Finance on 04.01.13 at 9:58 pm

Good advice Garth and some of which i had previously read and put into action last week. Found a nice well built bungalow which had been on market since last August. Had been through a price reduction as well. My buying agent did a FMV assessment. Came in with strong deposit but offered 30% below original asking. Settled at 21% below original asking. Wasnt planning on buying but this made sense, mortgage payment + prop taxes + insurance all below monthly costs for rent in the area. Rentals are virtually non existent unless you want to bunk up with some strangers from the oil patch. Only $135k real estate exposure.

#32 simple reader on 04.01.13 at 9:59 pm

#15
Extra Terrestrials exist.

#33 Ralph Cramdown Ⓤ on 04.01.13 at 10:00 pm

“Condo prices won’t go up this year,” [Bentley driver Brad J] Lamb said in an interview at the Bloomberg office in Toronto.

So just discount that by the standard realtor BS rate, and…

#34 Notta Sheeple on 04.01.13 at 10:06 pm

“….. First, get an agent. One who’s experienced in the hood, has an independent streak and knows how to dicker……”
=====================

Be careful with that piece of advice. There is no honour amongst thieves (or REALTURDS®), and you may find your own offers consistently outbid by clients of the listing agents. The listing agent will do everything possible to avoid sharing the commission with other agents, including yours.

Don’t believe me? Many times, I have experienced my agent present my offer, only to be outbid, sometimes by as little as $500, by clients of the listing agent. In disgust, I abandoned my own agent and went straight to the agent listed on the For Sale sign, who promptly advised me that when the right time came, I would be given the ‘wink wink’, ‘nod nod’ correct price to secure the property, thus allowing the listing agent to keep the entire commission for himself.

#35 IM in C on 04.01.13 at 10:15 pm

It’s going to be an interesting summer for real estate!

http://www.torontosun.com/2013/04/01/firefighters-battle-townhouse-blaze-near-york-university

#36 Freedom First on 04.01.13 at 10:21 pm

Anyone buying Re in Calgary today, April 1st., the joke is on you:) ……Oh, and Sarah’s boyfriend, Sarah wears the pants.

#37 Dr. Hoof-Hearted on 04.01.13 at 10:24 pm

Yeah..I get it…..House Hunt Victoria sells out ? April Fools

#38 EdmontonAgent 123 on 04.01.13 at 10:55 pm

Ahh, Notta Sheeple you should enlighten us as to your profession… You are likely some kind of a “Turd®”?

The offering system works if you and your agent know what they are doing. Multiple offers are tough, so either get smart or get out of it.

We have rules in place to try to protect from those kinds of actions.

#39 Dr. Hoof - Hearted on 04.01.13 at 11:11 pm

#34 Notta Sheeple on 04.01.13 at 10:06 pm

I can even see the listing agent offering a kickback to seal the deal and keep full commission.

#40 Victor V on 04.01.13 at 11:12 pm

According to this latest piece in the Globe, blog dogs simply need to ‘relax’ and everything will be just fine with real estate.

http://www.theglobeandmail.com/globe-investor/investor-community/trading-shots/housing-bears-need-to-relax-and-take-the-long-view/article10488136/

#41 mark on 04.01.13 at 11:19 pm

Where can I find Chris Clarke to punch him in the face? What a douche billboard.

#42 Smoking Man's Old Man on 04.01.13 at 11:24 pm

To Sarah’s boyfriend…..RUN RUN RUN, and never look back….. your welcome.

#43 Smoking Man's Old Man on 04.01.13 at 11:30 pm

Garth, any thoughts on FIRECalc as a retirement guide or is it too vague a calculation? What if any would be an acceptable percentage under 100% using this formula. Thanks

#44 aFools on 04.01.13 at 11:33 pm

Garth I hope this is you April fools prank, one day you say stear clear of RE and now all of a sudden your advocating to buy… Prank you

#45 :):( Ying Yang on 04.02.13 at 12:00 am

Sarah needs to hook up with Smoking Man so they can invest in each others insanity.

#46 deaner on 04.02.13 at 12:01 am

Surprised to see getting a good realtors is so important after all I’ve heard about them being cartels.

I’ve lived in the city I will buy in for basically my entire life. It seems like all realtors really have is access to past sale prices, which I can apparently occasionally find online.

Garth (or anyone)- For buyers or sellers, under what circumstances is the savings worth the risk of going with discount/1% realtors?

#47 Renting in Vic on 04.02.13 at 12:03 am

How sure are you that your agent must represent you? I believe an agent must always represent those who pay them, which you correctly state is the vendor (unless you make arrangements to pay them independently).

#48 Robbie on 04.02.13 at 12:13 am

There will always be those who want to buy a home no matter what the market conditions. For those, Garth has given them a very good set of guidelines…..won’t call them rules as some of what he says will vary slightly in different areas. In some jurisdictions (the one I am in) extremely high asking prices are fairly common so it can take years for properties to drop to a proper level and reasonable offers can appear to be “low-balling”. Also, banks can pre-approve you for an amount of mortgage but you still will want to write in the contract a condition dealing with the mortgage as the bank pre-approval is for the amount, not for the property you are buying….that will still need bank approval.

Garth is advising NOT to buy, but if you absolutely can’t be convinced, then take his advice as to how to proceed, it’ll certainly save you some money and stress. Yes, I’m a Realtor, so I can certainly recognize that Garth is giving good advice.

#49 The Man From Nantucket on 04.02.13 at 12:24 am

#26 Friendly Bank on 04.01.13 at 9:45 pm
I wouldn’t suggest removing any financing conditions these days……….

Why not?

I mean, If you aren’t pretty frigging certain you have the money, well, why are you wasting time house shopping (yecch!), much less making an offer with any deposit?

Run the numbers, get a pre-qualification, pull your own credit file to make sure there are no surprises/mistakes, and offer away……..up to what you can afford, or what the pile of bricks is worth to you, whichever is lower.

And, I know firsthand that Garth is perfectly correct on the effect of manly deposits, having the guts to waive financing conditions, and being flexible on closing

Last purchase, I “won” a 2-man bidding war with an offer 3% less than the other joker’s.

Sometimes seller gotta sell, and they’ll leave $10K, $30K, $50K whatever on the table just to make sure they don’t lose a fair deal when the guy with conditions ends up slinking away.

#50 Stew on 04.02.13 at 12:29 am

GARTH WHY IS this “lie” as you state, going around the internet by the millions.. of hits?

Cyprus-Style “Bail-Ins” Are Proposed In The New 2013 Canadian Government Budget!
http://www.worldviewweekend.com/news/article/cyprus-style-%E2%80%9Cbail-ins%E2%80%9D-are-proposed-new-2013-canadian-government-budget

Believe what you want. But it’s wrong. BTW, why are you reading Tea Party, right-wing, bible-thumping, country-music-loving web sites? — Garth

#51 Fed-up on 04.02.13 at 12:31 am

@#8 Chickenlittle

———————————————————————

I dread to think what the asking prices are now!

Nothing like a baseless 400% price increase in 13 years.

Gulp….

#52 CalVulture on 04.02.13 at 12:42 am

“Fifth. However, never buy a house without insisting on a home inspection.”

Good advice BUT…not just any home inspector.
Make sure you get your OWN inspector…an independent firm that does NOT work for the realtor.

Someone that will give you an honest opinion without worrying about losing future business/referrals from the realtor if the deal goes South.
You should plan on attending the inspection and ask lots of questions. This is a time for you to learn about your home so you can better understand the report for future use.
And talking about the report, make sure your get a full narrative custom report tailored for the building in question. Don’t settle for functional-not functional checklist type reports.
This is a monstrous investment
Choose Wisely!

#53 Blobby on 04.02.13 at 1:32 am

Quote aFools : “one day you say stear clear of RE and now all of a sudden your advocating to buy… ”

It always amazes me how low the standard of English comprehension must be nowadays. Garth is always very very clear on his stance on these things – but yet people always read his words to the far extremes…

#54 Kilby on 04.02.13 at 1:46 am

#44 aFools on 04.01.13 at 11:33 pm
Garth I hope this is you April fools prank, one day you say stear clear of RE and now all of a sudden your advocating to buy… Prank you

Garth never said he doesn’t like real estate, just has been going on for years telling people not to be buried in it and that it isn’t necessarily the best investment vehicle all the time…………….No prank there.

#55 Tony on 04.02.13 at 2:20 am

Home inspections are the biggest waste of money next to house insurance. The idea is to pay all cash for a house and if it burns down then you can still think in the long run i’ll always come out ahead. Stop and think what a home inspector does and then get a clue these people are worst than giving away money to real estate agents. If you can’t inspect a house yourself rent forever.

#56 Smartalox on 04.02.13 at 3:10 am

Here’s another thing that you can have your agent do: go to city hall and request any building permit filings for the property that you’re considering. An inspector can’t see through the walls, and tell you if the quickie reno was done right, but should be able to spot red flags from the permits and inspectors’ reports.

When buying vintage automobiles, a car with a complete set of service records gets a premium price, compared to one with no provenance. The same applies for real estate.

Get permits as far back as possible, to find out where the problems are.

#57 Notta Sheeple on 04.02.13 at 3:36 am

#38 EdmontonAgent 123 on 04.01.13 at 10:55 pm
“….We have rules in place to try to protect from those kinds of actions……”
====================

I questioned the listing REALTURD® on exactly those rules. He laughed at me and said, “Everyone does it.”

The sooner the Internet puts CREA and REALTURDS® out of business, the better it will be for consumers everywhere.

#58 David McDonald on 04.02.13 at 3:57 am

Sarah and my wife have a lot in common including dislike of any phrase that starts “Garth says”. Thanks for the excellent post; it will help.

#59 Garthvader on 04.02.13 at 4:30 am

For those of you who did not get it, this was Garth’s modest attempt at an April Fool’s joke: “First, get an agent. … In most cases the seller pays all costs, so this guy comes free of charge”. LOL!

#60 observer on 04.02.13 at 4:31 am

Yes everything will be fine.

The US Housing is booming, if you never bought in before the bust. A different instance in time a different view.

You can say the US never had a bust, it was just a minor correction, that lasted for 8 years. Small hops downward, never a bubble just a gradual drop, just like the chinese water torture!

#61 LP on 04.02.13 at 4:35 am

BTW, if the deal falls through – even if you walk – you’ll get your deposit back… Unfair to the seller, but tough.

Ninth, make the sign-back period on your offer short. Don’t give them two days to mull it over or for their agent to call everybody who was remotely interested in the house, looking for competition. Present it at 6 pm and give them until midnight. Tops.
******************************************

In the past, you said the seller should accept the offer with the proviso that the deposit is forfeit in the event the buyer walks. Changed your mind?

And with regard to a short, late-in-the-day sign back period, I think a seller would be crazy to even consider an offer under those circumstances. Speaking for myself, I’m certainly not at my best after a long day and making important decisions while tired wouldn’t be in my best interest. Having said that, I might not come to that realization until 11:59pm = long wait in the car for you.

The post was written for buyers, not sellers. — Garth

#62 Yellow Rox on 04.02.13 at 4:38 am

As someone who does home inspections from time to time, thanks for the plug Big G!

I also want to remind people to keep inspections in mind for commercial real estate. I’ve helped to save people from buying some real POS over the years.

#63 Nomis Ralpmet on 04.02.13 at 6:35 am

Talking of DOM – there’s a house in my ‘hood in ‘ssauga with a “Coming Soon” sign instead of “For Sale”. Is this a new tactic to reduce the days on market?

#64 fires in the GTA on 04.02.13 at 7:27 am

Looks like people are starting to burn down there houses again as the housing bust goes from bad to worse. Look for maybe more fires in thé GTA. Look for houses under rénovations to go up in flames.

#65 Ralph Cramdown Ⓤ on 04.02.13 at 7:50 am

#63 Nomis Ralpmet “there’s a house in my ‘hood in ‘ssauga with a “Coming Soon” sign instead of “For Sale”. Is this a new tactic to reduce the days on market?”

I saw one of those last month, in front of a house whose renovations weren’t yet finished and whose curb appeal consequently sucked. I think it’s a tactic for putting up advertising for longer, and maybe roping in a buyer for a double ended deal before it hits MLS and all the other agents get the listing emailed to their clients under their banner.

#66 AK on 04.02.13 at 8:03 am

The Dow Will Surpass 16,000 This Year: Jeremy Siegel

http://finance.yahoo.com/blogs/daily-ticker/dow-surpass-16-000-jeremy-siegel-113535610.html

#67 Steve on 04.02.13 at 8:04 am

@#50

Believe what you want. But it’s wrong. BTW, why are you reading Tea Party, right-wing, bible-thumping, country-music-loving web sites? — Garth
___________________________________________

C’mon Garth. There is nothing wrong with music!

All great points today. Followed them all when we bought 18 months ago. Hardest part was finding a good agent. Any tips on a better approach than: try another until you like one?

#68 Ralph Cramdown Ⓤ on 04.02.13 at 8:23 am

“The Dow Will Surpass 16,000 This Year…”

Much of that due to IBM, if it happens. They’re generating cash, upping dividends and buying back shares. I suspect they won’t split their stock just so they can maintain their outsized influence in the DOW. Go Ginni!

#69 maxx on 04.02.13 at 8:37 am

#7 East Van on 04.01.13 at 9:27 pm

http://www.nytimes.com/2013/03/31/opinion/sunday/sundown-in-america.html?src=me&ref=general

Wow. Outstanding. Excellent article and brilliant read. No one should miss this. An invaluable insight for the toolbox of life and fiscal planning.

Thanks for sharing.

#70 Shawn on 04.02.13 at 8:39 am

Bold Predictions on Dow?

The Dow Will Surpass 16,000 This Year: Jeremy Siegel

*************************************

That is only a prediction of a 10% rise.

Like all such short term predictions it is completely worthless.

Think long term

#71 LP on 04.02.13 at 8:43 am

The post was written for buyers, not sellers. — Garth

****************************

Real estate is fast becoming a prey/predator “game”.

#72 Weedeater on 04.02.13 at 9:00 am

Speaking of conditional-on-selling existing house offers, we once had a vendor sign back an offer conditional on her finding a new house and buying it. WTF? We walked away. Conditions suck.

#73 Frank le skank on 04.02.13 at 9:08 am

#38 EdmontonAgent 123 on 04.01.13 at 10:55 pm
Rules that aren’t actively enforced are not very effective.

#74 Ralph Cramdown Ⓤ on 04.02.13 at 9:14 am

#69 maxx — “Wow. Outstanding. Excellent article and brilliant read.”

The guy wrote “With only brief interruptions, we’ve had eight decades of increasingly frenetic fiscal and monetary policy activism intended to counter the cyclical bumps and grinds of the free market and its purported tendency to underproduce jobs and economic output. The toll has been heavy.”

Seriously? I wish we could chronoport this guy and all who agree with him back to the halcyon days of the early 1930′s, that they could enjoy a truly marvellous time before these eight decades of hell, and we wouldn’t have to put up with their bloviating. Is there an app for that?

#75 afraidit allmightend on 04.02.13 at 9:26 am

Surveys and title search is from a by gone era within the provinces that have a Torrens system……the standard contract of P/S covers both financial and legal disclosure clauses….but then again any sleazy real estate pimp can scratch them out…..a lawyer should read your contract…not a real estate pimp…most will give you a read over for $100 or less…some to $150….best money you’ll ever spend…never never never put your full faith and trust in a real tard. You hear all sorts of disaters of people discovering major problems after the fact…like people with no home insurance standing out in a snow with nothing but boxers after a fire…….why make it you to save under $200?

If a real tard tells you that too many clauses will nix the deal and time is of the essence…or ever suggests that you should hurry…dump the deal…their like busses…along every ten minutes.

The contract should read “Free of all legal and financial encumberances”…that includes liens, set backs, side yards, easements of all kinds and rights of way…..home inspection….goes without saying…some unscrupulous home sellers will not disclose flooding, foundation cracks, dry rot, insulation issues….etc etc etc ….don’t rely on a real tard….most of whom will say…”Oh that bathroom can be fixed….$200′s titter titter….lets look at the kitchen”…when in fact there are no bathroom updates or fix it problems that cost $200 dollars any more.

#76 TOM VU on 04.02.13 at 9:28 am

Sign says:

” DON’T GET A DIVORCE …..JUST GET A BIGGER HOUSE “.

Maybe also try:

” DON’T GET MARRIED …. JUST RENT.”

#77 AK on 04.02.13 at 9:35 am

#70 Shawn on 04.02.13 at 8:39 am
“That is only a prediction of a 10% rise.

Like all such short term predictions it is completely worthless.

Think long term”
——————————————————————-
“Long Term” is my middle name. I have been in the stock market since 1983.

#78 Ronaldo on 04.02.13 at 10:02 am

According to this article this is how much you need to retire.

http://www.shawconnect.ca/money/features/how_much_do_you_really_need_to_retire.aspx

#79 Spiltbongwater on 04.02.13 at 10:09 am

You know how many times my agent told me that the price is where it is because the vendor is pricing the commission into the asking price. Ya, buyers don’t pay their agent anything. LOL That is like when I buy my car, I don’t pay the dealer the commission at all. The fact that the commission is priced in is of no substance.

So buy FSBO and pay the same, or more, with enhanced risk. — Garth

#80 CP on 04.02.13 at 10:19 am

Garth I read your posts daily, but you might be wrong about this one (re. pages 144/145 in the budget):

http://silverdoctors.com/fdic-bank-of-england-create-resolution-authority-for-unlimited-cyprus-style-bail-ins-for-tbtf-banks/

More lies and disinformation from silver-pumping nutbars. Does your mom know you read this stuff? — Garth

#81 IM in C on 04.02.13 at 10:31 am

It’s going to be a long hot summer!!

http://www.cbc.ca/news/canada/calgary/story/2013/04/02/calgary-fire-ne-two-houses.html

#82 IM in C on 04.02.13 at 11:28 am

Looking at the picture above I am reminded of a conversation that took place between two newly weds:

Him: I didn’t get married to stop having sex!
Her: I didn’t get married to continue living in a rental apartment!

‘Yeup’ said the old folks; the honeymoon is over !!!

#83 CP on 04.02.13 at 11:37 am

Garth… no lie, my mom is a realtor! LOL (the apple falls FAR from that tree mind you)

#84 Daisy Mae on 04.02.13 at 11:52 am

KELOWNA CAPITAL NEWS, Opinion, Our view, April 2, 2013: “….But regardless of the financial bottom line, the HST debacle should serve as a warning to all governments to say what they mean and mean what they say…..at a time when the economy could barely afford it, BC’s HST folly hurt more than politicians’ chances for re-election. It made the public even more sceptical about our political leaders. And that hurts us all.”

POLITICAL BUMPER STICKERS:

BC LIBERALS: AW. C’MON! Aw, c’mon! It can’t get any worse!

BC NDP: NOT CONTRLLED BY UNIONS! Approved by Local 357

BC CONSERVATIVES: EVEN IF WE JUST KEEP THE SEATS WARM!

#85 Tyrone Asauras on 04.02.13 at 11:57 am

#39Dr. Hoof – Hearted on 04.01.13 at 11:11 pm
#34 Notta Sheeple on 04.01.13 at 10:06 pm

I can even see the listing agent offering a kickback to seal the deal and keep full commission.

I “found” the house I ended up buying so had a chance to ditch the guy who had been showing me homes and try to pull one of these stunts…….

I thought long and hard about it, and figured I trusted my guy a tonne more than the other, and I think I ended up better off for it. Your experience may differ.

#55Tony on 04.02.13 at 2:20 am
Home inspections are the biggest waste of money

Well, if you don’t get a good inspector, yeah, they probably are.

I thought about skipping this as well, but if you get a good one, it’s a valid investment. Not all of us are in building trades. Anyway, what’d it cost? like, 0.1%? My realtor paid for mine (after I brought in my own guy and paid him first)

#70Shawn on 04.02.13 at 8:39 am

Think long term

Believe I will. Own Dow, gain 10% on that part of portfolio, re-balance at appropriate intervals.

#86 maxx on 04.02.13 at 12:06 pm

#63 Nomis Ralpmet on 04.02.13 at 6:35 am

Hey 007, it’s more like trying to whip up a frenzy of interest. Very old (ho-hum) hat.

#87 velo on 04.02.13 at 12:08 pm

Hi Garth,
Bookend this piece with an entry covering selling tips? I need ammo for a friend who needs a push in the right direction.

Velo in Calgary, Oilberta

#88 Post Haste on 04.02.13 at 12:11 pm

Fantastic Post today Garth – Carpe Diem, my favourite saying since I saw the movie Dead Poet’s Society. One of Robin Williams best ever movies.

My cousin told me that 3 years ago when he bought, he took his lawyer along (though he was a friend to start with) – it seemed to have an immediate effect on the whole negotations.

I personally thought it odd where anyone can walk into a Land titles office and search the records on any homeowner in that area – you know the balance, name of homeowners, bank that they are financing it through – just ripe for fraud – Title Insurance at least gives you some protection.

Thanks again Garth for a very informative post!!

#89 Holy Crap Wheres The Tylenol on 04.02.13 at 12:12 pm

Perhaps we need to follow some of the other rules out there when acquiring property?

The Rules of Acquisition were a numbered series of aphorisms, guidelines, and principles that provided the foundation of business philosophy in Ferengi culture. They were first written ten thousand years ago by Gint, the first Grand Nagus. In the mid-22nd century there were 173 rules, and by the 24th century there were 285. Commentaries existed for the Rules. In theory, every Ferengi business transaction strictly follows all 285 rules.

http://en.memory-alpha.org/wiki/Rules_of_Acquisition

#90 Holy Crap Wheres The Tylenol on 04.02.13 at 12:16 pm

Forget all 285 rules these are the important ones that most realtors can follow.

1. Once you have their money, never give it back

2. You can’t cheat an honest customer, but it never hurts to try

3. Never spend more for an acquisition than you have to

4. Sex and profit are the two things that never last long enough

5. If you can’t break a contract, bend it

6. Never let family stand in the way of opportunity

7. Always keep you ears open

8. Keep count of your change

9. Instinct plus opportunity equals profit

10. A dead customer can’t buy as much as a live one

http://projectsanctuary.com/the_complete_ferengi_rules_of_acquisition.htm

#91 Steven Rowlandson on 04.02.13 at 12:21 pm

Garth the sheep, politically correct special interest groups and the real estate cultists have to find out the hard way. They will heed no easier lesson or sage advice.
http://silverdoctors.com/cyber-attack-alert-you-are-not-facing-a-financial-haircut-but-financial-decapitation-2/#more-24310

If the report related to the above link is even partially correct the doom of the financial and political world as everyone knows it is both assured and arranged.
If that is indeed the case the lesson will be severe to say the least.

Surely you are not that gullible. — Garth

#92 Frank le skank on 04.02.13 at 12:31 pm

#90 Holy Crap Wheres The Tylenol on 04.02.13 at 12:16 pm
Isn’t that part of the Remax training manual?

#93 From Mississauga with Love on 04.02.13 at 1:00 pm

this shows the GTA sales in March (posted on another thread). Anyone knows how to pull up the February sales?

https://docs.google.com/file/d/0ByrPFSoPLahJSE56TmxZN0RqdUE/edit?pli=1

#94 Canadian Watchdog on 04.02.13 at 1:28 pm

Here comes the next Euro time bomb: Slovenia 10-Year Bond Yield

#95 Dorf on 04.02.13 at 1:30 pm

“My bf is all ‘Garth this’ and ‘Garth said that’ and he reads your stupid blog before he comes to bed, so thanks for nothing. We’re buying a house. Go away.”

Did she say “WE” ?? Ha ha ha ha ha ha !!!

Dude, she loves you soooo much.

#96 Dorf on 04.02.13 at 1:44 pm

Says Sarah: I don’t want to hear the truth !

I want, I want, I want and I want !!!!! Damn you !

#97 Big Bear on 04.02.13 at 1:47 pm

Garth, you are rather dismissive of the bail-in stories circulating in the comments above. How about this one straight from the budget pdf?

Skip to the bullet at the top of page 145:

http://www.budget.gc.ca/2013/doc/plan/budget2013-eng.pdf

The article that sent me there:

http://www.globalresearch.ca/the-confiscation-of-savings-in-canada-cyprus-style-bail-ins-proposed-by-ottawa-government/5329263

I’m interested to hear your honest opinion minus sarcasm sir. thanks

Here you go. Try to keep up. — Garth

#98 jorytest on 04.02.13 at 1:54 pm

Sarah’s BF exemplifies Millions of those in Canada harangued by house horny partners with tunnel vision and questionable math skills. He needs to get out FAST . A divorce will be much cheaper.

#99 jorytest on 04.02.13 at 2:02 pm

I can’t wait to see the Victoria Real Estate boards news release today. I always love reading it, They are the Supreme, Elite Spin Doctors of all time.

#100 Mixed Bag on 04.02.13 at 2:12 pm

I too am interested in an elaboration on point 8, where you comment, “BTW, if the deal falls through – even if you walk – you’ll get your deposit back (although with other consequences).”

Thanks.

#101 afraidit allmightend on 04.02.13 at 2:18 pm

I don’t know if any cares about the millions of Chinese couples who divorced recently due to a ban on owning multiple houses.

http://www.bloomberg.com/news/2013-03-30/beijing-bans-single-person-households-from-buying-second-homes.html

The divorce strategy is too avoid paying tax on ownership.

I have a simple question…how long wil Canadian laws and business morals be sacrosanct now that the common law inhabitants have been out populated by foriegn nationals whose daily bread is corruption and skeeze?

#102 observer on 04.02.13 at 2:21 pm

Looks like Denise Deveau has been fired from Blues Skies.

http://whispersfromtheedgeoftherainforest.blogspot.ca/

Lest hope more reporters selling their souls to the real estate industry start reporting more responsibly.

The yellow helicopter piece by global should also get canned as many other s

#103 Tom Vu on 04.02.13 at 2:42 pm

DELETED

#104 Bottoms_Up on 04.02.13 at 2:59 pm

#79 Spiltbongwater on 04.02.13 at 10:09 am
———————————————-
We used the same agent on the sell and buy side. She got us 5k more than we probably would have got as an FSBO (and less work for us), and we bought for 5k less than we would have if we had bought without using her. So in my mind I’m basically break even versus doing it alone, we did less work, and took on less risk.

#105 Canadian Watchdog on 04.02.13 at 2:59 pm

Here's an interesting observation:

I followed Red Pin's Toronto active property listings over the last few weeks to track resale vs new listings. Weekly figures is as follows:

Week of: / MLS Listings / New Home Listings
 
02/04/13 11,596 1.048
02/11/13 11,368 1.047
02/18/13 12,053 1.039
02/25/13 12,179 1.039
03/04/13 12,891 1.036
03/11/13 13,473 1.035
03/18/13 13,392 1.035
03/25/13 14,233 1.034
04/01/13 14,428 1.033

Notice how new home listings remain fairly constant throughout the weeks? This implies that developers are keeping a constant amount of new listings on the market (because listing multiple units that are similar builds would work against them in terms of negotiating prices; by this method, when one unit is sold, a new listings replaces the old one).

Be assured, there is even more listings then what appears on MLS and monthly reports.

#106 Reed on 04.02.13 at 3:01 pm

Hi Garth, good article on the buying process, i have one objection though –

“Sixth, never make an offer conditional on selling another property or on securing financing… get pre-approved for a mortgage. Then go clean.”

I am a mortgage broker, and advise ALWAYS going with a subject to financing. If need be, include proof of pre-approval to make the offer more attractive, but go with financing anyways. Problems with financing are usually related to the property (asbestos, water ingress, oil tank, former grow-op etc) that a pre-approval won’t help with when the lender nixes that particular property.

#107 Bottoms_Up on 04.02.13 at 3:05 pm

#55 Tony on 04.02.13 at 2:20 am
———————————–
A good home inspector is worth their weight in gold. They can identify major issues that a novice wouldn’t notice, and provide you with a way out of a bad deal. They have and use tools that most people don’t own, and can recommend what type of professionals you might need to service your house (plumber, electrician, HVAC etc.) Getting a home inspection is the best thing you can do before buying.

#108 Bottoms_Up on 04.02.13 at 3:10 pm

#46 deaner on 04.02.13 at 12:01 am
—————————————
If you can find a good (buying) agent it’s worth the extra (hidden) cost. They will know how to negotiate; they will know about getting a vendor to disclose known problems with their property; they will know the true market price of the house and recommend that you don’t pay over X for it etc. etc. Same with a good selling agent, they will know true market value of your home, so that you don’t sell your house to a lowballer.

#109 maxx on 04.02.13 at 3:12 pm

#74 Ralph Cramdown Ⓤ on 04.02.13 at 9:14 am

Everything’s relative, eh wot?!

Anything hurtful, destructive or damaging is wrong by any measure or definition- and a slippery attempt to discredit his pov is, not to put too fine a point on it, a little more than suspect.

Have you got an app that measures people’s suffering?

I’d also wager that back in the ’30s, people were probably more likely to be able to count on each other during tough times.

#110 Raven on 04.02.13 at 3:37 pm

Following the Lame Stream Media will get you Royally LaPaged

The R.E. collapse of 1990 took approximately 19 months from peak to trough, with small media created blips along the way. With much better media coverage today, albeit lame to the facts, there is a much better awareness which sustains gains yet hastens declines.

Sarah’s should chill, take two aspirins and call Garth in the morning.

#111 Toronto S on 04.02.13 at 3:39 pm

“In most cases the seller pays all costs, so this guy comes free of charge, and yet is legally bound to act in your best interests. Why would you not want this?”

Legally bound doesn’t mean it happens, since people’s own self-interest always comes first. It is in a Buyer Agents’ best interest to make you pay more, so s/he gets a bigger commission. It’s also in his/her interest that you buy something sooner, rather than shopping around for the right place, so that he has less work and quicker earnings. Impossible to prove s/he is not working in your best interest.

Do your own research. Find previous sales history and neighbours’ sales histories on the MPAC website. Get the listing agent to send you comparables as well if you must. And if you work with the listing agent, negotiate a better deal since another agents won’t be paid – the listing agent can knock a point or two off of the commission charged to the seller. That way instead of having two agents looking out for their own best interest, you only have one to deal with.

That is not only myth, it’s bad advice. — Garth

#112 TnT on 04.02.13 at 4:05 pm

#97 Big Bear on 04.02.13 at 1:47 pm

I’m interested to hear your honest opinion minus sarcasm sir. thanks

Here you go. Try to keep up. — Garth

Link broken – here’s the fixed link

http://www.greaterfool.ca/2013/03/28/hysteria/

#113 Loopback on 04.02.13 at 4:05 pm

“In most cases the seller pays all costs, so this guy comes free of charge, and yet is legally bound to act in your best interests.” — Garth
————–
“Free of charge” & “in your best interests” . . . you’re kidding, right?

You’re shy of experience, right? — Garth

#114 blinded on 04.02.13 at 4:08 pm

While there are recent calls to invest in the S&P 500, actually right now is the time to sell.

Dr. Copper, industrial metals and stocks like CAT are down 10% since Feb 2013.

The USA “recovery” is a mirage. It depends upon global economics, not just the fed buying $85billion every month in troubled real estate.

#115 Tom Vu on 04.02.13 at 4:30 pm

#103 Tom Vu on 04.02.13 at 2:42 pm

DELETED

=============================

No Soup For YOU !

#116 Ralph Cramdown Ⓤ on 04.02.13 at 4:38 pm

Attention all Strong Hands! Report immediately to your muster station! This is NOT a drill! That is all.

Double Secret Haircut Contest!

P.S. If your haircut isn’t at least this bad, don’t bother with the $50 entry fee.

Sincerely,
The ‘short’

#117 cramar on 04.02.13 at 4:59 pm

Saw a program where Mike Holmes did an inspection on the house inspectors. They were all a waste of money and incompetent. IF you can get a good one they are worth it. In my case, with other offers that included inspections, we came in with a cash unconditional offer that was accepted. We figured we were totally renovating anyway, so most things a competent inspector would flag we were going to cover anyway. In retrospect, a competent inspection would have caught addition stuff we didn’t find out until reno time. Knowing the full list of issues, I would have lowered the offer and lost or walked! But I’m pleased we did buy.

#118 Evangeline on 04.02.13 at 5:13 pm

Shawn

there used to be a Shawn who posted here in the past, who wrote an investing newsletter. Is that you?

#119 Old Man on 04.02.13 at 5:13 pm

Gold is crashing bigtime, and just laugh at this all, as went today to hoop my pepper steaks on special with M&M for $3.00 each, and gal said did you get this on the internet with a special message, and said yes, as it is all a secret. She said we are not informed, as this is not for the public, so called another gal who knew all who took my card with fingers running on the store computer system to tell me that all was well, and said you are in for this bargain.

#120 Dr. Hoof - Hearted on 04.02.13 at 5:25 pm

#107 Bottoms_Up on 04.02.13 at 3:05 pm

#55 Tony on 04.02.13 at 2:20 am
———————————–
A good home inspector is worth their weight in gold. They can identify major issues that a novice wouldn’t notice, and provide you with a way out of a bad deal. They have and use tools that most people don’t own, and can recommend what type of professionals you might need to service your house (plumber, electrician, HVAC etc.) Getting a home inspection is the best thing you can do before buying.

===================================

IMHO….Yes and No

There is a lot that a Building Inspector , even a good one, can miss….a lot of it is based on experience,and educated guesses.(as one cannot tear apart a wall to look for problems).

Examples:
—-Any inspector that does not state a tiled wall in a bathtub or shower does not have an almost 100% probability of rotten studs in the surrounding wall should not be inspecting.
—-Vinyl decking over living space is a bad idea..ie never walk on a roof

etc.

I think the business runs on a lot of faith and luck (aka nothing bad happens..mutual ignorance is bliss).

However, when the SHTF..look out.

#121 Tyrone Asauras on 04.02.13 at 5:31 pm

#106Reed on 04.02.13 at 3:01 pm
……..Problems with financing are usually related to the property (asbestos, water ingress, oil tank, former grow-op etc) that a pre-approval won’t help with when the lender nixes that particular property.

Yeah, but, if you follow Garth’s advice, you’re going to look at the place and hire a home inspector, and you’re going to have an agent acting in your interests.

If you, plus those two professionals somehow miss these indicators, chances are the lawyer and bank that makes the mortgage happen isn’t going to catch them either……..and if they do catch them and you’re hooped for financing, I figure you walk, stop payment on the deposit, and cross your fingers that they do not sue.

#122 Mr. Monday Night on 04.02.13 at 5:41 pm

Wow, I can’t believe the number of people who are recommending going for the double-ended sale with the same RE agent.

I won’t even look at houses listed by the same company as my agent to avoid any sort of collusion.

People a lot wiser than me always said that the agent of the double-ended sale is always working for the seller, not the buyer. Also, I walked away from three properties to avoid a bidding war at all costs, as emotions or competitive nature would likely cause me to overpay and have the buyer’s remorse.

I guess everyone has a different strategy.

#123 Tom Vu on 04.02.13 at 6:26 pm

Purely philosophical question:

Old Realtors never die…they _______?

#124 IM in C on 04.02.13 at 6:40 pm

@116 ralph Cramdown (and Garth)
Your haircut link tried to put some malware on my computer

#125 Reed on 04.02.13 at 6:51 pm

@ Tyrone –

“…..and if they do catch them and you’re hooped for financing, I figure you walk, stop payment on the deposit, and cross your fingers that they do not sue.”

Suppose you had a firm agreement to buy for say 500k, and you put 25k deposit. When you walk, the 25k stays put. If the seller has to sell for 425k for example, their damages against you are worth 75k – i.e. you are bound to make up the shortfall. So the seller gets your 25k and sues you for 50k.

Or you put a subject to financing along with your subject to inspection, both “for the sole benefit of the buyer” in your offer to purchase. Thats my point.

#126 Shawn on 04.02.13 at 6:57 pm

Shawn is Shawn

Evangeline at 118 asked:

there used to be a Shawn who posted here in the past, who wrote an investing newsletter. Is that you?

*********************************

Yes. I am here because this blog is addictive. I am not here to find new subscribers.

#127 Jay on 04.02.13 at 7:06 pm

an interesting flyer came in today, for a realtor. it was an ad for a realtor, and it showed that house prices in this area are up from the same time in 2012, but sales have dropped in half.

I’m no big city doctor, but that looks like a sign of things to come. I’m surprised they’d include a statistic like that on there.

#128 The Man From Nantucket on 04.02.13 at 7:13 pm

#122 Mr. Monday Night on 04.02.13 at 5:41 pm

People a lot wiser than me always said that the agent of the double-ended sale is always working for the seller, not the buyer.

Yeah, well, he’s officially working for both of you, but only one of you holds his paycheque.

I know which master I’d serve!

#129 Old Man on 04.02.13 at 7:37 pm

I just laugh as if you have a home forsale just stick a sign up on the front lawn with a phone number, as sold a few this way over the years.

#130 Dr. Hoof - Hearted on 04.02.13 at 7:48 pm

Due to past issues..didn’t Real Estate Boards..at least in BC..state that the Listing agents loyalties lie solely with the Seller so as to avoid any legal etc. ambiguity?

=====

Also…when HAM was coming over here, …..at least from HK..an agent I know told me that it was part of the culture to give the agents some added bonus $$….which the Real Estate board clamped down on.

#131 Brunette on 04.02.13 at 7:51 pm

Is it true that mainstream realtors (Remax, Century 21, Royal Lepage etc) won’t deal with the low cost realtors (Greyfriars, 1% Realty etc) if possible? So sort of shutting them out of the market when possible.

I only heard that from friends parents. Does anyone know better for sure from an insider POV?

#132 Old Man on 04.02.13 at 8:07 pm

Here is how I did it with flipping properties the honest way with a sign that said property forsale with a phone number. I had an AACI evaluation in hand, and told them all this was the market price, and wanted us all to save the real estate commissions, so lets make a deal as will split the difference to 3%, and will close with my lawyer to pick up all the closing costs.

#133 Daisy Mae on 04.02.13 at 8:16 pm

#50 Stew: “….country-music-loving web sites? — Garth”

**********************

Hey! Attacking country music loving web sites is going too far! LOL

#134 Brunette on 04.02.13 at 8:22 pm

That lady in AB who was/is “gorgeous inside” has male competition but in LA

http://getyourbizsavvy.com/wp-content/uploads/2009/12/real-estate-billboard.jpg

#135 CrowdedElevatorfartz on 04.02.13 at 8:29 pm

@#123 Tom Vu

‘just trade away”

#136 AK on 04.02.13 at 8:55 pm

#119 Old Man on 04.02.13 at 5:13 pm
“Gold is crashing bigtime”
——————————————————————–
It’s only the beginning. Down to triple digits this time next year.

Warren Buffett on gold: “Gold
gets dug out of the ground, then we melt it down, dig another hole,
bury it again and pay people to stand around guarding it. It has no
utility. Anyone watching from Mars would be scratching their head.”

LMFAO. :-)

#137 AK on 04.02.13 at 8:58 pm

#123 Tom Vu on 04.02.13 at 6:26 pm
“Purely philosophical question:

Old Realtors never die…they _______?”
——————————————————————–
Hey Tom,

Now that the U.S. RE Market is on a solid ground, are you going to start up some new scams?

#138 An Cat Dubh on 04.02.13 at 9:43 pm

Nice one page article on why a house is not an investment.

http://cygne-gris.blogspot.ca/2013/03/houses-are-not-investment.html

#139 Richard in Kelowna on 04.02.13 at 10:01 pm

AK 136………

#119 Old Man on 04.02.13 at 5:13 pm
“Gold is crashing bigtime”
——————————————————————–
It’s only the beginning. Down to triple digits this time next year.

Warren Buffett on gold: “Gold
gets dug out of the ground, then we melt it down, dig another hole,
bury it again and pay people to stand around guarding it. It has no
utility. Anyone watching from Mars would be scratching their head.”

LMFAO. :-)
………………………………………………………………….

Let’s see if you’re still chuckling after the transmission in your 1953 Skoda packs it in this weekend and the N.A. stock markets plunge 50% next spring……

.

#140 brad on 04.02.13 at 10:40 pm

Deposits are forfeitable if the offer is accepted and it is clean( no conditions). A good realtor would tell you this or risk being sued when you lose that fat deposit!!

Incorrect. The offer must state so for a deposit to be forfeited. — Garth

#141 AK on 04.02.13 at 11:00 pm

#139 Richard in Kelowna on 04.02.13 at 10:01 pm
“Let’s see if you’re still chuckling after the transmission in your 1953 Skoda packs it in this weekend”
——————————————————————-
I have no clue as to WTF you are talking about. You should put the bottle down.

#142 Realtor # 1 on 04.03.13 at 6:33 am

Enough about how sales are slowing what about prices?
It’s almost been 8 months of slowing sales how much longer before prices drop?
Sales slowed in 2011 but prices continued to climb.
It Means nothing till prices drop

Depends what market you’re in. BC’s dropping like a stone, for example. Be specific, since all real estate is local. — Garth

#143 Evangline on 04.03.13 at 10:24 am

to Shawn:

((Yes. I am here because this blog is addictive. I am not here to find new subscribers.))

did I imply that you were posting here to find new subscribers?

#144 Dan7 on 04.03.13 at 11:26 am

Garth read this it might give you an idea about your next post

http://www.globalresearch.ca/the-confiscation-of-bank-savings-to-save-the-banks/5329411

Old news. — Garth

#145 brad on 04.03.13 at 9:01 pm

Hey Garth. Thanks for the clarification. I guess the offer to purchase is different across the country. In Alta you lose that deposit. Brad (140)