Real Estate Industry Pandemic Greed

 

Real Estate Industry Pandemic Greed

Well, it looks like another industry is about go bust, the Real Estate Industry that is.  Both homeowners and agents are pushing their homes into an above market value situation where the industry is about to bust and go nowhere. Some home owners have binge watched those million-dollar real estate shows during their lock down and now believe they can sell their home for double what they paid for it because they believe their home is worth more than what the agent is telling them its worth. Really Now? Then you have the hungry agents out there who haven’t sold a home in over a year and need to sell one soon or perish the thought of having to get a part time job to survive. This is what I call the Pandemic Greed syndrome on both homeowner and agent agenda.

Although the market looks good right now, it’s about to go bust and the value of homes is going to go down due to the way the economy is heading.  The average person cannot afford to pay out over $1500 or $2000 a month for rent or mortgage and are looking for cheaper homes, maybe even outside their local community. Others are downsizing to tiny homes, or even RV lifestyle to help cut expenses and be able to save for a rainy day.

Educated home buyers are doing their homework or due diligence in researching the markets in the area to which they want to move to and buy. If the comps over the course of a 10 year period have fluctuated and then all of a sudden jumped up higher than the average home sale, can you say red flags will be flying. Those red flags could mean a couple of things: the agents in the area are greedy bastards and don’t know what their doing to sell real estate and want to inflate the system with false prices to make more commission on the unsuspecting buyer. Can you say frauds? Or the home owner decided that they wanted to be greedy and raised the price of their home in order to pay off debt that they incurred over the years. They will spend that money, or what’s left after the sale and put themselves right back into the same situation on the next house. Can you say not living within their means? Either way, you have greedy agents and homeowners that need to be checked by serious buyers who have done their homework. Not being rude but if I was looking for a home and saw those red flags, I’d have to choose another place to move to because that usually means everyone in the area are going to be frauds or greedy bastards. Happy house hunting or selling of your home, because it’s the best time to get out from under that mortgage now before the market decides to bust and you’ll be stuck.

Author Elizabeth Kilbride is a former political operative, author, scriptwriter, historian, journalist. business professional, and creative artist, and life coach consultant. Ms. Kilbride holds a Masters in Criminology and a BS in Business Management who stepped out of the loop for a while, but who is now back with a powerful opinion and voice in the direction of this country and our economy. As a life coach, she is available to counsel individuals to enjoy their dreams and a better life. Ms. Kilbride loves to travel, photograph her surroundings and is also a gourmet cook who loves to garden and preserve food for the winter months.