- This topic has 30 replies, 9 voices, and was last updated 16 years, 10 months ago by
patientlywaiting.
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October 31, 2007 at 2:54 PM #10777October 31, 2007 at 3:04 PM #93853
JWM in SD
ParticipantA year ago? He’s already lost $.
October 31, 2007 at 3:04 PM #93888JWM in SD
ParticipantA year ago? He’s already lost $.
October 31, 2007 at 3:04 PM #93896JWM in SD
ParticipantA year ago? He’s already lost $.
October 31, 2007 at 3:06 PM #93856patientlywaiting
ParticipantThat house will be worth $250k when all is said and done.
October 31, 2007 at 3:06 PM #93891patientlywaiting
ParticipantThat house will be worth $250k when all is said and done.
October 31, 2007 at 3:06 PM #93899patientlywaiting
ParticipantThat house will be worth $250k when all is said and done.
October 31, 2007 at 3:11 PM #93859(former)FormerSanDiegan
ParticipantThe 10% loss is pretty consistent with the Case-Shiller index from a few months ago. My guess is that by the time he gets it sold, he’d be looking at another 25K or more lopped off what he thinks the price is currently.
October 31, 2007 at 3:11 PM #93895(former)FormerSanDiegan
ParticipantThe 10% loss is pretty consistent with the Case-Shiller index from a few months ago. My guess is that by the time he gets it sold, he’d be looking at another 25K or more lopped off what he thinks the price is currently.
October 31, 2007 at 3:11 PM #93902(former)FormerSanDiegan
ParticipantThe 10% loss is pretty consistent with the Case-Shiller index from a few months ago. My guess is that by the time he gets it sold, he’d be looking at another 25K or more lopped off what he thinks the price is currently.
October 31, 2007 at 4:01 PM #93901djrobsd
ParticipantYeah, and don’t forget to include the following deductions from the final sales price:
6% realtor commission
1% closing costs/repairs/etcThose could be much higher when all is said and done depending on the condition of his place. It’s not uncommon right now to see buyers asking for 1-2 points for closing costs, and other stuff…. Yippeeeeeeeeeeeeeeeey!
Oh, and if he doesn’t want to pay 6%, I know where he can go to pay 4% instead, but I’ll let that person speak for himself if he wants to! LOL
October 31, 2007 at 4:01 PM #93937djrobsd
ParticipantYeah, and don’t forget to include the following deductions from the final sales price:
6% realtor commission
1% closing costs/repairs/etcThose could be much higher when all is said and done depending on the condition of his place. It’s not uncommon right now to see buyers asking for 1-2 points for closing costs, and other stuff…. Yippeeeeeeeeeeeeeeeey!
Oh, and if he doesn’t want to pay 6%, I know where he can go to pay 4% instead, but I’ll let that person speak for himself if he wants to! LOL
October 31, 2007 at 4:01 PM #93944djrobsd
ParticipantYeah, and don’t forget to include the following deductions from the final sales price:
6% realtor commission
1% closing costs/repairs/etcThose could be much higher when all is said and done depending on the condition of his place. It’s not uncommon right now to see buyers asking for 1-2 points for closing costs, and other stuff…. Yippeeeeeeeeeeeeeeeey!
Oh, and if he doesn’t want to pay 6%, I know where he can go to pay 4% instead, but I’ll let that person speak for himself if he wants to! LOL
October 31, 2007 at 4:08 PM #93949unbiasedobserver
ParticipantI have a good friend in San Diego who has been a mortgage broker for 20 years and is an eternal housing optimist up until August. He told me a few weeks ago that the average person who comes into his office now overestimates their equity by at least 100K and that’s before the realtor commission. Believe me this guy is probably being conservative, the average San Delusional homeowner has a lot less equity than they care to believe at this point.
October 31, 2007 at 4:08 PM #93957unbiasedobserver
ParticipantI have a good friend in San Diego who has been a mortgage broker for 20 years and is an eternal housing optimist up until August. He told me a few weeks ago that the average person who comes into his office now overestimates their equity by at least 100K and that’s before the realtor commission. Believe me this guy is probably being conservative, the average San Delusional homeowner has a lot less equity than they care to believe at this point.
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