Quote:
Originally Posted by pepper24
Let me first start off that it's refreshing to have a realtor that is at grips with the reality of the current real estate market. There are a lot of realtors, mortgage brokers and financial advisor on this site that are still stuck in the past longing for the good 'ol days of high commissions for little work and therefore aren't seeing things clearly.
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Who are these financial advisors you speak of? As one on the site I just thought that there are a few things you should know. Firstly I don't make a dime in real estate, am not licensed there in any capacity. I have no idea how the real estate market not crashing is of special benefit to me (other than the economy just not crashing, which is of benefit to most people in Calgary).
Second, I have no idea what you mean by the "longing for the good 'ol days" comment as far as financial advisors. I assume that the industry is just an easy target for you and we get lumped in here with the usual attitude towards real estate agents? (That attitude being that they come and put a sign on your lawn, sell the house and make a lot of money to do nothing).
In any case, its rich that a guy who works in investment banking is going to take shots at these other professions and say that we are the ones longing for the past years of high commissions! How'd 2008 turnout for you guys again?
I'm not a guy who thinks that we are primed for another doubling of the real estate values here, but I do think that we've seen most of the damage already. Sure we could see another 5-10% down, but such is life. For someone with no plans of moving that kind of move is inconsequential.
Finally, I'll just put this forward. If there are people who are totally convinced that housing drops by 20-25% over the next couple of years you should sell your house. On a $500,000 home you could buy back in when that happens and save $100k (before fees, but nonetheless its definitely worthwhile).