Do I have to be a politician to have realized by now how crooked they are? You don't have to be an agent to realize what sort of an industry it has become.

I never said the state drives the market...but it certainly doesn't stop shaddy practice if it's lining it's pockets...it's human nature and that's what happens.

Consumers decide whether they are to buy the property or not ultimately but this market has been driven into a panic market with false claims of supply/demand issues. Brokers and agents alike cause a false sense of urgency about "you'll miss out" and "get in before this happens or that happens..." It's all buttering up to the consumer to make them sell or buy. Who in their right mind would by a 900 sqft home, built in the 30's, needing $100K plus of renovations for $450k+? A payment close to $3000K even with an interest only loan...or should we really a dig a whole and push for a flex payment? Just think about it for a second...if it makes sense to you then it's obviously due to the big check you'll receive.

It's been 5 years+ since the ludicrous driving of prices....and NOW there's scrutiny? Geez...thanks...it's good to know someone's looking out for us. :rolleyes:

Well...at least you admit that this industry is indeed run that way...not sure what you think of that but to me that's pretty damned unethical.

Why don't you just move to an area you can afford, since that seems to be the main issue here.
That's why we've seen such a large increase from Calif. in engineers and technicians here, and we do have the jobs and better quality of life.
(from an ex Torrance, San Pedro, San Joaquin Valley resident)

That would be a good idea..to move that is.

I've been all over the US and while I don't like California much, I can't say I like many other places either. The effort would be to great for the pay off...at least for right now.

Having a home is not that important to me...ownership is not the issue. I just find it amusing to sit back and watch the whole shark eat shark cutthroat RE market. It's quite disgusting how people treat each other in this climate. It's toned down alot but not even a couple of years ago, home-seekers in California would run you over to get ahead of you.

Blah, blah, blah, The Real Estate business is in the same level of other lucrative business in the US. Ironically, the same thing is happening in Europe and we all know that housing is one of the basic things in life!!! Love my career maybe is time for you to make a 'career change' even lawyers, law enforcement officers and doctors joined us in the last 5 years. You're more than welcome to take your state's RE principles test and try to obtain the license, that way you can send your opinion with more foundations.

LOL...don't put yourself up on such a high stool. The California RE rules I know. The foundations are very simple and you don't have to be an agent to understand how to buy and sell homes at all.

At the height of the stupid buying/selling craze, it was amazing how many FOR SALE BY OWNER signs were up. I couldn't blame after all..why let a couple of opportunist realtors take 3-6% for a week's worth of work? Clause 14 anyone?

Many people have tried RE from many different professions...you are right...but they do it for six months and then quit. THey realize their regular jobs are far more rewarding most of the tie without the dog-eat-dog environment RE has formed itself into.

A veteran RE broker told me once how much this industry has changed. He told me how little respect people have for each other these days and all the newcomers want to do is bulldoze over everyone to get their sale. The market a present showed us what it was all about.

Nozferatu, how many homes have you bought and sold in your lifetime? From what I hear you say, your level of real estate experience seems very limited, due to your financial situation.
Have you considered going back to school to make yourself more marketable?
I have spent over 22 years in the Civil Engineering field all over the world, and when my job became non-existent in the late 80’s and early 90’s (I was ready to retire, but my wife wouldn’t let me), I went into real estate and have enjoyed it tremendously.
Maybe a change for you might be called for, it will widen your horizons and maybe more successful.

Nozferatu, If you ever decide to move again I know the perfect agent for you. He goes by the name Rick Mense.

I appreciate your opinion and you make some good points but how on earth did you get my financial situation out of all of this??? I've got a master's degree and make a good chunk of change between myself and my wife. We sock away in excess of 5K a month after expenses and taxes. I was merely making a point about how ludicrious it is to see the current housing market eat people up the way it does.

I'm not in the market for a home at all but it doesn't take much to be a prudent, calculated buyer if need be. It's not rocket science...but it can be if people fall for the bait tactics and shaddy practices I was talking about earlier.

If RE works for you, by all means more power to you...I just couldn't work in such an unethical, cut-throat environment as I have witnessed here (not saying that's the way it is where you currently are).

If you have maybe bought 1 or 2 homes in your life just how much exposure can you have possibly had to all these bait & switch and other shoddy practices you say you see everywhere around you?

Are you practicing in LA?

These are your statements, you are lying to yourself if it’s not about money. (you might be educated, but not smart)
“It's been 5 years+ since the ludicrous driving of prices....”
“The effort would be to great for the pay off...at least for right now.”
“Who in their right mind would by a 900 sqft home, built in the 30's, needing $100K plus of renovations for $450k+?”
“…a state like California has no incentive whatsoever to stop the ludicrously high priced housing market…”

The reason for my statement was based on what you said.
If you were one of the 8 Powerball winners in Nebraska, you wouldn't be on this board bellyaching about how expensive houses are, you'd be out there buying one, correct?
If you weren't, I have to assume that you either don't have enough money, or the education to be able to afford a house.

LA is by far not the entire industry but yet you seem to be unable to see this! So how is it you seem to be exposed to all this but are not in the market to buy or sell a home? You need to stop watching so much TV. Everything you hear on TV is not the truth or the whole story...Dan Rather is a great example of that!!!

I do see it...I've been talking exclusively about LA but you seem to want to include the whole country. I'm not talking about the whole country. Perhaps if you started there, you'd get a better understanding of what is being said.

Sorry but that's not correct. Buying a home is a very easy thing to do. Stop making it sound as though it's brain surgery.

Regarding the powerball comment, it's obvious then that you think it's easy manipulate people who are ready and desperate to spend...your comment clearly suggests that as you think anyone with money will be stupid enough to pay more for something that isn't worth it's asking price.

Not everyone who makes money wants to overpay for a house. When a new model Mercedes comes out, the dealers add a huge mark-up and people desperate enough will pay it. Alot of people who are smart just don't do it. It's no different in the housing market. Perhaps they see through the games the brokers and agents play. It's the way you make your living. It's an artificially created environment to feed an industry that anyone with half a brain could by a "HOW TO" book and buy and sell themselves. People want convenience so they turn to you.

“Not everyone who makes money wants to overpay for a house.”
True, but everyone who makes enough money to buy a house owns one. (unless time, job/money, family circumstances don’t allow it)

“When a new model Mercedes comes out, the dealers add a huge mark-up and people desperate enough will pay it.”
There you go again! It is about the money, isn’t it?
Why do men buy diamonds for their wives/fiancées?
You don’t, because there is a “mark-up”?

“People want convenience so they turn to you.”
Now that is the smartest thing I’ve heard from you yet and right on the money.