Seattle Residential: I Do That: Buyers, It's time you took responsbility for buying a home.

Buyers, It's time you took responsbility for buying a home.

The Great American Dream Isn’t for Dreamers Anymore

In This Post

Buyers, don't be bribed any longer.

 

Bob Haywood’s post this morning  Coldwell Banker Extends Tax Credit  touched a nerve. The time has come to stop giving to buyers to make them act. If they don’t understand the value of buying a home, now, then they will have to learn just like the last bunch. When prices are going up rapidly and all of their friends are buying, then they will jump on. Why does this inane cycle continue? Do Realtors push people to buy because everyone else is buying?

The time to buy, dear Buyer, is when you feel the time is right in your personal life and your economic life to take on a huge responsibility. You are, for one thing, going to find a way to make at least the minimum payment that is establish in your loan documents every month for the next thirty years. You are taking on the challenge of a maintenance project that other people have started but you are going to continue, or you will see your down payment investment wasted.

You may just have to give up every weekend skiing or sailing or trekking adventures to stay home and paint, or mow, or clean. This house is not going to take care of it self and you now are the designated driver…for the next thirty years.

Mr. Rogers may have told you, you were special, just because you are you. But that place you now live in does not have a land lord you can call. The responsibility of that falls on your shoulders.

Don’t let anyone bribe you into buying a home. Homeownership makes for a special class of people. You’ll feel so real pride in yourself once you get there. Just don’t ride in on someone else’s coat tail. Earn it, and respect it. You will be glad you did.

 

 

 

 

 

Glenn Roberts
Retired

 

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Comment balloon 11 commentsGlenn Roberts • May 05 2010 09:34AM

Comments

Amen!

Posted by Shannon Lewis, Realtor, Broker - Champaign-Urbana, IL (Beringer Realty) over 8 years ago

Interesting way of framing the satisfaction and independence that comes with owning a home.  What some call bribes, however, others call help.  Is it a bribe to be given the opportunity to pay less income tax by deducting mortgage interest and property taxes?  To qualify as a bribe, something has to be offered to induce a person to do something illegal, against their wishes, or both. 

Posted by Mike Carlier, More opinions than you want to hear about. over 8 years ago

Shannon - Thanks

Mke - I stand corrected. Bribe was used in haste. Should I have said incentive? The tax benefits have been available for a long time. They have been a given for so many years that I no longer consider them a bribe. The artificial incentives for limited time speak of hucksterism, including the CB ads, the government stimulus, even tho it helped many get off the fence, and agents when they throw money at a deal when the buyer and seller don't negotiate to agreement all taint the "deal" for the buyer in ways that the interest and tax deduction don't.  

Posted by Glenn Roberts (Retired) over 8 years ago

Glenn, so true----people it seems people often need something "outside" themselves to give themselves permission to act.

Posted by Charles Buell, Seattle Home Inspector (Charles Buell Inspections Inc.) over 8 years ago

Actually, I just looked up the definition of "bribe", and yes, in a formal usage it does imply that an act of corruption is at play. However, the second definition is simply "anything given or serving to persuade or induce" such as a mother bribing a child to behave with candy (dictionary.com).

In this case, the homeowners tax credit was clearly a bribe meant to persuade people to start buying homes in a (misguided) attempt to repair the economy.

Posted by Shannon Lewis, Realtor, Broker - Champaign-Urbana, IL (Beringer Realty) over 8 years ago

Glenn, Thank you, thank you, THANK YOU! The reason that we are in the mess that we are in is because peopl bought homes for the wrong reasons. Then, in its infinite wisdon, the feds decided that the best way to kick start the market again was to give incentives that provide more wrong reasons?!

Buyers need to buy a home that they love and can afford and not use their purchase as a $8000 lottery ticket.

Posted by Mark Hall, Homes for Sale Vancouver Washington (Elite Realty NW - Keller Williams, Vancouver Washington) over 8 years ago

Charles - There are so many good reasons to be proud of the home you own and yourself for owning it.

Shannon - Thank you again.

Mark - I was completely surprised when the nation was so taken with the two stimulus packages. It was as if the feds were allowing $8K gifts to help unqualified buyers make the grade. Very much like a 80-20 loan where the 80 is a loan at interest only and the 20 is a second loan with a balloon in 5. Here comes trouble.

Posted by Glenn Roberts (Retired) over 8 years ago

I told Bob the same thing. As a former CB agent I can tell you the first pound of flesh usually comes from the CB agent...
Have a great Wednesday Glenn!
Paul

Posted by Paul S. Henderson, REALTOR®,CRS,, Tacoma Washington Agent/Broker & Market Authority! (RE/MAX Northwest.) over 8 years ago

Paul - I was surprised that cutting the listing commission wasn't a part of this but then CB would be cutting into their own part of the pie.

Posted by Glenn Roberts (Retired) over 8 years ago

Good words of wisdom our friend, why does everyone need a hand out? Stand up for yourselves! This plan is ridiculous

Posted by Al & Peggy Cunningham, Brokers, Our Family Wants To Help Your Family! (RE/MAX West Realty Inc., Brokerage) over 8 years ago
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Posted by fzivlbbq over 6 years ago

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