When enthusiasm overcomes logic, disappointment ensues.

By
Real Estate Agent with Better Homes and Gardens Real Estate Metro Brokers

When enthusiasm overcomes logic, disappointment ensues.This happens more often than you think. I get a call from a prospective “buyer” about a deal that they found on the Internet that appears too good to be true. When they start speaking, they can barely contain their excitement.

“Can I really buy a house like that for $900 or $1200 or $1500?”

Of course most of these houses are in great neighborhoods and the photos show them to be in excellent condition. There is only one problem:

The “price” that is listed is NOT the sales price, but the amount of monthly rent. It seems that a lot of the big IDX assimilators do not always make that distinction very clear.

Logic tells you that this is not the sales price. After all, if you really could purchase a house like that for a price like that, it would never make it to the MLS.

Blame the media if you want, but there are still a lot of people out there that truly believe that you can get a good house for next to nothing.

And they are so disappointed to discover that good houses still demand a fair price!

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Topic:
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Groups:
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"Whacked"!!!
Tags:
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enthiusiasm

Comments 18 New Comment

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Rainmaker
400,543
Marian Goetzinger
Crystal Coast Real Estate NC
Pine Knoll Shores Realty 252-422-9000

Richard, I'm always amazed when people make those assumptions.  Come on!?  It had to be a mistake.

"Of course you can buy an ocean front mansion for $6000!"  Yes, that is what we get for one week's rent.  Go figure.

August 01, 2011 12:30 PM
Rainmaker
1,657,451
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.
WHISPERING PINES REALTY

Richard...way to many people just look at the picturesand don't read what it is all about.

August 01, 2011 02:54 PM
Rainmaker
1,684,182
Gabe Sanders
Stuart Florida Real Estate
Martin County Residential Homes, Condos and Land Sales

Occasionally, very rarely, a realy good deals comes up.  Everyone in the business knows it's a good deal.  By the time an Internet browsing client sees it, it's under contract and no longer available.

August 01, 2011 04:04 PM
Ambassador
1,289,570
Richard Iarossi
Crofton MD Real Estate, Annapolis MD Real Estate
Coldwell Banker Residential Brokerage

Richard,

I've had that call too...my stock response is "if it were that good a deal, don't you think a Realtor would have already scooped it up?"

Rich

August 01, 2011 07:50 PM
Rainmaker
429,437
Ritu Desai
Northern Virginia Realtor - Fairfax/Loudoun/PW - 7
Samson Properties

Soooo true Richard, I have many occasion agents laziness or mistake that prompted the call from a buyer we saw a beautiful home for a low price.

August 02, 2011 08:20 AM
Anonymous
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Richard Weisser

Richard Weisser Coweta Newnan Homes for Sale
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Additional Information

Author Bio: Richard Weisser is a Georgia real estate broker, licensed auctioneer, and has been writing about Georgia Real Estate since 1999.

Coweta Fayette Real Estate offers opinions and helpful information to consumers and real estate professionals in the Coweta County Georgia area.

Coweta Fayette Real Estate allows you to search the entire Georgia MLS for free with NO registration required!

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