The real estate market, then and now

Doug Buenz, a real estate broker associate with Alain Pinel Realtors in Pleasanton, Calif., shares his insight and hindsight about the real estate market, then and now, at the Inman Wiki and in Inman News.

Some excerpts:

Then: Buyers wrote cute, heart-wrenching letters about how badly they want the house.
Now: Sellers write desperate, heart-wrenching letters to potential buyers hoping they buy the house.

Then: Listing agents put a "Coming Soon" sign rider on as soon as the sign went up.
Now: Listing agents put a "Price Reduced" sign rider on as soon as the sign goes up.

Then: Sellers informed buyers that they would look at all offers a week from Tuesday at 4 p.m.
Now: The lender informs the seller that their home will be sold a week from Tuesday at 4 p.m. on the courthouse steps.

Then: Smug Realtors would tell someone who works at Starbucks that they don't make enough money to qualify to buy a home.
Now: Desperate Realtors working at Starbucks learn that they don't make enough to refinance out of their option adjustable-rate mortgage.

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