I’m sure you did the comps in the area. Did you also check the distress? I.e., do you anticipate some other homes in the area showing up as a short sale or REO sale? Any recorded NODs or NTS? How far down has it come from peak? If it declines a little more, can you live w/it? What would something like that rent for in the area? If a nicer one sometime this year comes up for what you paid for this, will you be kicking yourself?
I wish someone would accept my lowball offers. I must be more insulting than you. Well, I did get one accepted, only b/c we offered asking. But still have not heard back for B of A (Countrywide). I think the asking was 40k more than it should be. But w/the way the government is propping up this market, the 8k credit, the banks/processors not following through on delinquencies, we decided to just offer LP. I saw a thread of someone quibbling over 5k.
