Trulia Voices | Top 10 Questions of the Week

Last week was a record breaking week on Trulia Voices. More home buyers, sellers and agents are joining the real estate conversation everyday. Relationships are being formed. Transactions are being closed. Home buyers continue to ask some really great questions and have 6 in this weeks top 10 followed by real estate agents with 3. We even have a renter adding his 2 cents by posing a question/comment.  I’ve highlighted some of the more interesting answers to these questions below. Enjoy.

1. I have made 5 offers on houses, all using comps; all refused. ~ Donna - A home buyer in St. James

Gail Gladstone, a real estate pro from 11743 says, “Homeowners need to decide if they are committed to selling or committed to a number. I only work with homeowners who are committed to selling. I am in Long Island and this IS a buyer’s market.”

2. As I walk my dog every Sunday morning I take the OPEN HOUSE signs and throw them in the bushes. ~ A bitter renter in 90149

Trish Bender, a real estate pro from Cypress asks,” More importantly: ARE YOU PICKING UP AFTER YOUR DOG”

3. What happens when the appraisal comes back less than the purchase price? ~ Christine - A home buyer in Los Angeles

Monique Carrabba, a real estate pro in Los Angeles states, “If the appraisal comes back less then the purchase price you have three options. You can try to get another appraisal. You can ask the seller for a reduction in the purchase price or you can walk away.”

4. Why don’t more people talk about the real issue with Real Estate? ~ Dave - A home buyer in 07o54

Matthew De Fede, a real estate pro from Nutley says, “I COULD NOT AGREE MORE With you on this one, The news loves negative stories and that is what they will continue to focus on.”

5. I live in Spain and I would like to buy a house in San Francisco Castro area. Can somebody give me advice? ~ Oriol - A real estate pro in Spain

Mario Pinedo, a real estate pro from San Francisco says,”Actually it is an area that is well supported in price by foreign buyers - and with the Euro so strong… This relatively soft market plus the great exchange rate you benefit from is an ideal time to buy.”

6. I am a new agent in Pa, this may sound like a stupid question but, the seller actually pays the commission from…. ~ Max Ryan - A real estate pro in Pennsylvania

Sandra Bolcar, a real estate pro from Upper Montclair opines, “It’s confusing to know who is really paying the commission here. The seller does not pay the commission from their proceeds. The money is actually deducted from the gross amount on the HUD closing statement before it hits the hands of the seller. Obviously, the proceeds are coming from the buyer’s funds. However, seller’s usually agree to pay a commission based on those gross proceeds.”

7. I am a California Licencsed Real estate Broker ,I have a client who is intrested in writing an offer on an REOproperty… ~ Sar - A home buyer in 92223

Jed Lane Bro, a real estate pro from San Francisco states,“If he isn’t a Realtor than ethics has very little to with the situation. Realtors and realtors alone in this industry abide by a code of ethics. For non Realtors it’s all about the contract. That’s the first lesson that you learn in the commercial real estate market.”

8. I have had 2 buyers TODAY wanting me to give up my full commission to them. I am confused. ~ Trish Bender - A real estate pro from Cypress

J.D. “Dan” W., a real estate pro from North East Florida says,” I hope you led them to the door! Nobody should be in this business if the are starving that much! Holy Smokes!”

9. Baffled by Home Sellers! Why are they trying to make a huge profit when they are facing foreclosure? ~ Gizmo - A home buyer in Buffalo

Don Tepper, a real estate pro in Fairfax says,“People in pressure situations are often in denial. They don’t think foreclosure is really going to happen to them. They think they’ll be able to sell. They think a relative will be able to lend them the money. They think they’ll hit it big in the lottery. They think they’ll get that new job that pays double what their current one does. In short: These people are not always thinking rationally.”

10. Have 400,000 cash, make 60,000 a year, need 1000s.ft where should I go.. ~ Wes - A home buyer in Yellowstone National Park

Marian Schaffer, a real estate pro from North Carolina thinks, “With 400K cash you have so many options. A lot depends on your lifestyle, family situation, personal interests, geographically preferences and so many other factors.”

Many thanks again to everyone for participating in Trulia Voices. If you have a real estate question, our community has answers. See you next week with our new Top 10.