ZT Amused in Edmonton--www.greaterfool.ca

依勒特

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People need to know the truth’, appraiser says
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Hi Garth:

I’m an appraiser in Edmonton, here are some comments.

Realtors
I think one of the biggest things people don’t realize, is that a buyers realtor does not have your best interests in mind. When a buyers realtors’ commission is based on a % of the sale value, then how can they serve their clients best interest? I am constantly seeing out of town investors getting fleeced. It’s funny too that last spring during the peak, realtors were saying “now is the time to buy”. Here we are one year later, many people have lost a lot of money if bought last spring, and the real estate board is saying the exact same thing.

8 w6 w  w$ g* b4 K% Y* Z4 ^' D, o" s* RPeople need to know that even if they have a realtor “working” for them, it is still buyer beware. A good realtor should show you actual sales of similar properties that have recently sold to justify what he/she thinks the offer should be.
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When it’s easier to become a realtor than it is to become a forklift driver, it says a lot!
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House as an ATM
I don’t know how many homes I go into and there are multiple flat panel tv’s, toys in the garage, all new furniture. And this is all with mom staying home with the kids. How do they afford it? Interest only HELOC’s.

BOM now has a LOC that increases as you pay off your house.

Recent Appraisals
New House bought last spring from builder for around $440k incl GST. Went for financing in Feb to take possession, appraised at around $375.
/ f* q; f3 Y& u" JResale condo downtown last March bought for around $330k, sold this March for around $280k.
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CMHC
/ L% u' `" \& J: e/ HThey don’t have appraisals done on purchases. I see homes all the time sell for higher than they’re worth and I bet they’re CMHC homes.

Inventory keeps going up, buyers aren’t buying, and yet people still think the boom will continue. No we’re not like the States at all! ha!

" U& o, X1 Q! g4 ~7 Z# @Thanks for what you’re doing. People need to know the truth, not what realtors and bankers are saying.
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Regards,

. ^7 z2 s) E3 h; iAmused Appraiser in Edmonton
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* `0 M+ P! E, Y7 J3 {1 |[ 本帖最后由 依勒特 于 2008-4-17 14:55 编辑 ]

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