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Recession: 3, Realtor: 1

A real email exchange from moments ago (edited for privacy, of course):

Dear [buyer],

Thank you for your emails regarding [some of the condos] we had seen with you and wanting to see them again. We set up some times for Friday from 1-3 pm. Are you available during that time to tour?

Sincerely,
[Realtor]

Dear [Realtor]

Thank you so much for your time and patience with us these past couple of months. Regrettably, the worst has happened. My husband just lost his job and we are forced to put our home search on hold indefinitely. Should our circumstances change, we’ll be in touch.

Sincerely,
[Buyer]

Number one was the fear of the pink slip. Number two were clients we had written offers on property for, one of which was almost 1342 Shrader (cash buyers up to $2.5M, but works for a bank, and fears a layoff). The above email makes three. We did close on a condo on 17th not too long ago, so it’s not all dark clouds, but it certainly is not all sunshine and roses either.


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alexclark

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8 thoughts on “Recession: 3, Realtor: 1”

  • eddy

    January 15, 2009 at 2:03 pm

    Wouldn’t that be 3-1 since you has a condo close? 🙂

    [Editor’s Note: Yes! Thanks for correcting…]

    Reply
  • anon8mizer

    January 15, 2009 at 2:38 pm

    The condo on 17th was sold at way below original asking, too. I thought the asking first time was around $850k or something. Sold for $720k, below the original purchase price of $745k in 2004… Weird place. No portion of the backyard belonged to the condo, and the condo agreement said u couldn’t rip the carpet out.

    Reply
  • garrett

    January 15, 2009 at 2:58 pm

    i’ve had at least 3 of these emails so far. folks i’ve worked with for over a year…all are now out of the property search.

    Reply
  • dothemath

    January 16, 2009 at 8:49 am

    The market is dying on its feet, and will soon be dead.
    Huge price decreases will be required to get people back into the market.
    This process has started, but will continue right through 2009, and most likely 2010 also.
    On a lighter note, Fluj, you once recomended a great pizza place, around 30th/Mission way I think? Can you remind me it’s name?
    Thanks!

    Reply
  • dothemath

    January 16, 2009 at 8:52 am

    It comes to something when a condo which sold for below 2004 prices comes to be seen as a positive….

    Reply
  • fluj

    January 16, 2009 at 10:54 am

    Do the math,

    Cafe Stefano

    http://www.yelp.com/biz/cafe-stefano-san-francisco

    Reply
  • paco

    January 16, 2009 at 9:25 pm

    cheer up alex, at least the surf’s been good.;)

    Reply
  • thefrontsteps

    January 16, 2009 at 10:25 pm

    And the very reason the posts have been light on the site.

    Introduce yourself in da water, and feel free to give me the best waves. 😉

    Reply

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