So now the real estate roller coaster really begins ...

[hrj]

Just as I was getting changed at the gym, I got a phone call from my possibly-now-ex realtor saying that he'd taken an initial look at comparable properties and concluded I don't have any equity in my house. I told him I didn't believe it -- not in an "I'm in denial" sense but in an "I've done my groundwork already" sense. He said he'd e-mail me the comparison. So I spent my entire workout in a major funk but came out of it with a fatalistic resignation. It's not as if I've done anything expensively irrevocable yet.

But then when I got home and look at his "comparable properties" the only thing they had in common was being triplexes. They were scattered all over West Oakland -- all in worse neighborhoods than mine (and some in really really crappy neighborhoods). Whereas when you look at my immediate neighborhood, properties significantly smaller than mine have recently sold for noticeably more than his "comparable triplexes". So I'm just not buying it. I suggested that I might have more luck with someone more familiar with the immediate territory and am pursuing other options.

Who knows? Maybe I'm wrong and I'm stuck with it (in which case I'll have to put on my Big Girl Panties and make certain changes). But I definitely think his cursory price comparison is crap.

Comments

[kareina.livejournal.com]

Good luck finding a realtor who is actually willing to do the research, it sounds like this one was in too much of a hurry and only spent three minutes on the task.

[goldenstag.livejournal.com]

Sounds to me like he's being lazy, and not doing the research he needs to do, and you're right to dump him for another realtor.

[liadan-m.livejournal.com]

If you don't want to go looking, I can put the word out for an outbound referral for West Oakland and get a specialist for the area and type.

[aureellia.livejournal.com]

These friends offered you good advice. I could go kick him in the shins for you. I would.

[aastg.livejournal.com]

You're right, of course, to be skeptical. Your "micro-market" has its own rules. In addition, you have a fairly unusual property but in a good location in relation to the overall area.

It's possible that your realtor is merely giving you his opening position. If he is really experienced, and has survived the bloodbath of the past few years, he could be testing you to see if you really have the ovaries to deal with him realistically.

[beanolc.livejournal.com]

I wish I could recommend our realtor but there's no way I'd do that to you. Best of luck finding a new one!