[quote=briansd1][quote=bearishgurl]
Agree, flu, except in this climate they want to “steal” them. If they can’t, they’ll pass.
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Underwriting is stricter. Good downpayment is necessary. Homeownership by well qualified borrowers is historically high.
Big portions of buyers are investors so why should they not try to “steal” some buys.
I’m trying to steal one at 60% off peak. Hoping the lender will approve the short sale.
Don’t be bitter BG. As Realtors would tell you, if you can afford your house, the price drops don’t matter. Just enjoy your home. I know easier said than done.[/quote]
I agree, brian. If I was an investor, I would only want properties I could “steal” as well as tenants can be flaky – even after signing a lease. And the amount of rent a potential buyer THINKS they can collect on a consistent basis may not be what they can get in reality.
I don’t have anything to be “bitter” about. I just checked avail listings within about a 6-block radius around me this morning and only found ONE SS pending and no REO’s.
The problem I have is very old homeowners around me who own “free and clear.” If they should pass on or have move to board and care or their children’s houses, their kids/heirs will just dump their property for whatever they can get (today’s prices) since most are smallish houses that they likely don’t want to modernize and/or occupy themselves.
Since there is no mortgage, these kids/heirs have nothing to lose except the “Prop 13” protection.
I’m just hoping all my senior neighbors keep “hanging in there” for at least two more years :=)
