Sunday, October 26, 2008

Friday afternoon we had a call from our realtor. Another realtor had a client who wanted to look at our place and a couple others between 10 a.m. and noon Saturday. So yesterday we went next door to Sweetie's mom's vacant home. From there we can see our place now that the leaves have dropped. No one showed so we went home and I emailed our realtor. she soon called back and said she'd contacted the other realtor. Seems the couple called her at 11 a.m. and cancelled their appointment.

Today, I received this email from our realtor: "I'm so sorry the way the showing turned out. This is the market and the kinds of people we are dealing with now. Buyers in all price ranges know they are very much in the driver's seat and treat everybody not very well. To show you what is happening, one of our listings on _______over by _____ Lake is in foreclosure and was originally listed at $950,000. It sold this week for $259,000. 8 bedrooms, 9 bathrooms, indoor swimming pool, elevator, fireplace in each bedroom, 2 full kitchens, 5 car garage. The bank wanted it off their books. That's why people are waiting and playing very tough on price. This is the worst market I've ever seen. I wish it were different."

So somebody thinks they got a deal on a huge home. And what, I'm asking myself, does anyone need a home with a fireplace in every bedroom, an elevator, five car garage and two kitchens, etc.? And I wonder: do they pay property taxes on a home valued at nearly a million? And then there's the utilities and the upkeep. Talk about a carbon footprint! Maybe now they can afford a place this huge, but if things continue to decline, what then? Really this kind of building and consumption is nothing but waste and greed.

I emailed our realtor back and told her I'm glad we "poor" people who can afford our home and have the ability to survive if the grid goes down, etc. If things continue on this course - and I believe they will - people living in McMansions will be the targets of much frustration and anger. Imagine needing a security team to guard you and yours because you're such a visible, greedy jerk? Not a relaxing way to live.

In other news, we're watching the rain/sleet/snow mix sail past our windows in a 45 mph wind. Think I best log off for now. It's getting nasty! Treesong

1 comment:

Toronto real estate agent said...

Hard time for the US realtors, hard time for the sellers...But you have to remember it's not such a long time ago, when BUYERS were exactly in this desperate position and sellers were the ruling masters! Yes, this is market. That's why I like balanced periods, when nobody is desperate. Now we have such time in Canada, the question is, for how long it will last...
Take care
Elli