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  • May 25, 2010 at 10:08 AM #17487
    sdcellar
    Participant

    Okay, so we’ve got an offer in on a bank owned property that seems to be a pretty good value to us, but I can’t fight the sinking feeling that we’re at the precipice of another leg down.

    Part of me says it doesn’t matter so much because I *think* the property is close to meeting my general criteria for coming in around a 2001 inflation adjusted price and we can certainly afford it.

    That said, it’s still going to need work (most notably windows), so it seems like just a little bit more patience might be rewarded with a more turnkey property.

    That that said, we almost always are going to want to do things to flooring, bathrooms and kitchens anyway, so I’m not sure how much to hope for. Regardless, there are almost certainly properties we’ve seen that we’d do less to, they’ve just been priced higher. But if those come down, this one probably comes down too.

    I’ve never believed we’d buy at the bottom of the market. After all, that’s already past, right? (wink) But, it does feel like things are starting to slow down again and maybe we’ll be able to get something even better for the same money in six months time.

    Anyway, I’m getting decidely ahead of myself as we don’t even have an accepted offer yet. Even that should be interesting. I hear all this business of bidding wars, but I really have no idea what’s going to happen here. It seems like it could go either way in that it really will get bid up or that we’ll be the only offer and should have come in lower. We should find out shortly.

    May 25, 2010 at 10:13 AM #553558
    briansd1
    Guest

    The government is financing 90% or the real estate market. That’s not a good sign.

    Only time will tell…

    http://www.businessweek.com/news/2010-05-24/fha-home-financing-volume-sign-of-very-sick-system-update2-.html?source=patrick.net

    May 25, 2010 at 10:13 AM #553664
    briansd1
    Guest

    The government is financing 90% or the real estate market. That’s not a good sign.

    Only time will tell…

    http://www.businessweek.com/news/2010-05-24/fha-home-financing-volume-sign-of-very-sick-system-update2-.html?source=patrick.net

    May 25, 2010 at 10:13 AM #554153
    briansd1
    Guest

    The government is financing 90% or the real estate market. That’s not a good sign.

    Only time will tell…

    http://www.businessweek.com/news/2010-05-24/fha-home-financing-volume-sign-of-very-sick-system-update2-.html?source=patrick.net

    May 25, 2010 at 10:13 AM #554251
    briansd1
    Guest

    The government is financing 90% or the real estate market. That’s not a good sign.

    Only time will tell…

    http://www.businessweek.com/news/2010-05-24/fha-home-financing-volume-sign-of-very-sick-system-update2-.html?source=patrick.net

    May 25, 2010 at 10:13 AM #554527
    briansd1
    Guest

    The government is financing 90% or the real estate market. That’s not a good sign.

    Only time will tell…

    http://www.businessweek.com/news/2010-05-24/fha-home-financing-volume-sign-of-very-sick-system-update2-.html?source=patrick.net

    May 25, 2010 at 10:23 AM #553563
    sdcellar
    Participant

    Agree completely, briansd1, I just keep hearing how the government will be able to continue this for a long time. I’m hard pressed to disagree because I don’t know how they’ve been able to do it so far. (I mean technically I understand, but it seems like there are serious ramifications being ignored)

    My wife and I were discussing this this morning. While things are better than they were, it’s still hard for businesses to borrow money, you can’t get a return on yours, but somehow, we can get a loan at 4.75% today. That’s nuts, it’s been nuts for a while and I don’t know when the nuttiness will end. Maybe I’m the nut, the sheeple seem happy.

    May 25, 2010 at 10:23 AM #553669
    sdcellar
    Participant

    Agree completely, briansd1, I just keep hearing how the government will be able to continue this for a long time. I’m hard pressed to disagree because I don’t know how they’ve been able to do it so far. (I mean technically I understand, but it seems like there are serious ramifications being ignored)

    My wife and I were discussing this this morning. While things are better than they were, it’s still hard for businesses to borrow money, you can’t get a return on yours, but somehow, we can get a loan at 4.75% today. That’s nuts, it’s been nuts for a while and I don’t know when the nuttiness will end. Maybe I’m the nut, the sheeple seem happy.

    May 25, 2010 at 10:23 AM #554158
    sdcellar
    Participant

    Agree completely, briansd1, I just keep hearing how the government will be able to continue this for a long time. I’m hard pressed to disagree because I don’t know how they’ve been able to do it so far. (I mean technically I understand, but it seems like there are serious ramifications being ignored)

    My wife and I were discussing this this morning. While things are better than they were, it’s still hard for businesses to borrow money, you can’t get a return on yours, but somehow, we can get a loan at 4.75% today. That’s nuts, it’s been nuts for a while and I don’t know when the nuttiness will end. Maybe I’m the nut, the sheeple seem happy.

    May 25, 2010 at 10:23 AM #554256
    sdcellar
    Participant

    Agree completely, briansd1, I just keep hearing how the government will be able to continue this for a long time. I’m hard pressed to disagree because I don’t know how they’ve been able to do it so far. (I mean technically I understand, but it seems like there are serious ramifications being ignored)

    My wife and I were discussing this this morning. While things are better than they were, it’s still hard for businesses to borrow money, you can’t get a return on yours, but somehow, we can get a loan at 4.75% today. That’s nuts, it’s been nuts for a while and I don’t know when the nuttiness will end. Maybe I’m the nut, the sheeple seem happy.

    May 25, 2010 at 10:23 AM #554531
    sdcellar
    Participant

    Agree completely, briansd1, I just keep hearing how the government will be able to continue this for a long time. I’m hard pressed to disagree because I don’t know how they’ve been able to do it so far. (I mean technically I understand, but it seems like there are serious ramifications being ignored)

    My wife and I were discussing this this morning. While things are better than they were, it’s still hard for businesses to borrow money, you can’t get a return on yours, but somehow, we can get a loan at 4.75% today. That’s nuts, it’s been nuts for a while and I don’t know when the nuttiness will end. Maybe I’m the nut, the sheeple seem happy.

    May 25, 2010 at 11:04 AM #553598
    DataAgent
    Participant

    If you wait long enough you could see 1998 pricing. It happened with the stock market.

    May 25, 2010 at 11:04 AM #553703
    DataAgent
    Participant

    If you wait long enough you could see 1998 pricing. It happened with the stock market.

    May 25, 2010 at 11:04 AM #554192
    DataAgent
    Participant

    If you wait long enough you could see 1998 pricing. It happened with the stock market.

    May 25, 2010 at 11:04 AM #554290
    DataAgent
    Participant

    If you wait long enough you could see 1998 pricing. It happened with the stock market.

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