Wednesday, February 22, 2006

Agent's Plea: Don't Dump Your Properties!

Jimmy Castro, my favorite Sacramento real estate agent over at Realty Times is at it again.

2-16-06:

I highly encourage investors to hold on to their properties! The market is going to rebound and you are going to wish that you didn't dump your investment at a fraction of what it is going to be worth in the next year or two.
2-22-06:
For the wise investor/home buyer, the cautionary phrase of "wait to buy real estate" should give way to "buy real estate then wait..." [S]ellers must learn a lesson early in a normalizing market -- HOLD ON TO YOUR PROPERTY!
Maybe I need to start a Jimmy Castro-watch blog. He has so many updates, I can't keep up! And no, that frequent updating has nothing to do with keeping his smiling face on the top of the heap ;>

6 comments:

peterbob said...

I would love to know what RE agents are doing with *their* properties. Any way we can find out?

Marinite said...

I personally know three realtors in Marin County, CA. All of them are selling at least some of their investment property. Since I can't prove it, it's just hearsay.

Marinite
Marin Real Estate Bubble

arizonadude said...

They are afraid of bringing down their property values from these bloated levels. I'm already out and sitting on the sidelines and waiting for a reasonable price. I'm not going to finance a new hummer for nobody. When I feel there is value I will buy again.

Anonymous said...

According to Mr. Castro:

"Sellers should also heed a bit of advice that all agents know and understand -- the first offer is usually the best offer"

I don't understand this. It implies that subsequent offers will be worse which I don't think is what Mr. Castro means.

mtnrunner2 said...

"The first offer is the best offer..." They get lower after that. The longer your home sits on the market, the lower the offers get.

Out at the peak said...

I know some agencies are overworked with the mounting inventory. When will they stop taking new listings?

There is plenty of work for the selling agents, but it doesn't pay very well right now. :)