Bank Accepted offers on 2 properties

[poorsaver]

I’ve been looking at Arrowhead, too, but haven’t found anything the likes of your deal. In fact, to me prices haven’t come down much at all up there. Did you buy a “cabin” or a home. I did see some old cabins that are basically large wood sheds for cheap. But regular 3/2s are holding up. And the area you’re talking about in Alta Loma is another one that I’m looking at. I have a friend who lives there. Prices are still around a million for a home like his, on about half acre, 4000 sq. ft, not $650K as you suggest. For the areas I’m looking at, prices haven’t come down hardly at all for the prime properties. Guess location, location, location still applies.

Poorsaver, thanks to you, Ben

[Anonymous]

Nice going Hawk. BTW, I really miss your blog, too funny. I have been tracking prices in Arrowhead since 2006. Prices have dropped about 20% on average. Nothing like the rest of the IE. The problem you have there is the Realtor Mafia. These pinheads think that its a GOOD thing prices haven’t fallen and will do or say practically anything to make buyers believe “Its different up here”. Eventhough sales have virtually stopped, 89 sales thru May, thats about 50% less than horrible 2007 sales. They would rather sieze up the economy there than lower prices.

My suspection is that since most agents are homeowners in the area, they can’t face a price freefall on their own home. They would rather sell nothing than engage in commerce and bring the market back to reality.

My observation is that anything decent and priced reasonably will eventually sell. They is so much junk up there that nobody wants its amazing. There was a recent foreclosure that went back to the bank at $800K and sold prior to auction at $470K, not a bad deal but due to the property condition IMHO it was only worth about $350.

I am a happy renter, sold in Moreno Valley in Dec. 2006 at the peak. I’ll be patient until I find a deal that make sense and not until then. No amount of gov’t BS and voodoo numbers will change the outcome.

[Anonymous]

Nice going Hawk. BTW, I really miss your blog, too funny. I have been tracking prices in Arrowhead since 2006. Prices have dropped about 20% on average. Nothing like the rest of the IE. The problem you have there is the Realtor Mafia. These pinheads think that its a GOOD thing prices haven’t fallen and will do or say practically anything to make buyers believe “Its different up here”. Eventhough sales have virtually stopped, 89 sales thru May, thats about 50% less than horrible 2007 sales. They would rather sieze up the economy there than lower prices.

My suspection is that since most agents are homeowners in the area, they can’t face a price freefall on their own home. They would rather sell nothing than engage in commerce and bring the market back to reality.

My observation is that anything decent and priced reasonably will eventually sell. They is so much junk up there that nobody wants its amazing. There was a recent foreclosure that went back to the bank at $800K and sold prior to auction at $470K, not a bad deal but due to the property condition IMHO it was only worth about $350.

I am a happy renter, sold in Moreno Valley in Dec. 2006 at the peak. I’ll be patient until I find a deal that make sense and not until then. No amount of gov’t BS and voodoo numbers will change the outcome.

[Anonymous]

Nice going Hawk. BTW, I really miss your blog, too funny. I have been tracking prices in Arrowhead since 2006. Prices have dropped about 20% on average. Nothing like the rest of the IE. The problem you have there is the Realtor Mafia. These pinheads think that its a GOOD thing prices haven’t fallen and will do or say practically anything to make buyers believe “Its different up here”. Eventhough sales have virtually stopped, 89 sales thru May, thats about 50% less than horrible 2007 sales. They would rather sieze up the economy there than lower prices.

My suspection is that since most agents are homeowners in the area, they can’t face a price freefall on their own home. They would rather sell nothing than engage in commerce and bring the market back to reality.

My observation is that anything decent and priced reasonably will eventually sell. They is so much junk up there that nobody wants its amazing. There was a recent foreclosure that went back to the bank at $800K and sold prior to auction at $470K, not a bad deal but due to the property condition IMHO it was only worth about $350.

I am a happy renter, sold in Moreno Valley in Dec. 2006 at the peak. I’ll be patient until I find a deal that make sense and not until then. No amount of gov’t BS and voodoo numbers will change the outcome.

[Anonymous]

Nice going Hawk. BTW, I really miss your blog, too funny. I have been tracking prices in Arrowhead since 2006. Prices have dropped about 20% on average. Nothing like the rest of the IE. The problem you have there is the Realtor Mafia. These pinheads think that its a GOOD thing prices haven’t fallen and will do or say practically anything to make buyers believe “Its different up here”. Eventhough sales have virtually stopped, 89 sales thru May, thats about 50% less than horrible 2007 sales. They would rather sieze up the economy there than lower prices.

My suspection is that since most agents are homeowners in the area, they can’t face a price freefall on their own home. They would rather sell nothing than engage in commerce and bring the market back to reality.

My observation is that anything decent and priced reasonably will eventually sell. They is so much junk up there that nobody wants its amazing. There was a recent foreclosure that went back to the bank at $800K and sold prior to auction at $470K, not a bad deal but due to the property condition IMHO it was only worth about $350.

I am a happy renter, sold in Moreno Valley in Dec. 2006 at the peak. I’ll be patient until I find a deal that make sense and not until then. No amount of gov’t BS and voodoo numbers will change the outcome.

[Anonymous]

Nice going Hawk. BTW, I really miss your blog, too funny. I have been tracking prices in Arrowhead since 2006. Prices have dropped about 20% on average. Nothing like the rest of the IE. The problem you have there is the Realtor Mafia. These pinheads think that its a GOOD thing prices haven’t fallen and will do or say practically anything to make buyers believe “Its different up here”. Eventhough sales have virtually stopped, 89 sales thru May, thats about 50% less than horrible 2007 sales. They would rather sieze up the economy there than lower prices.

My suspection is that since most agents are homeowners in the area, they can’t face a price freefall on their own home. They would rather sell nothing than engage in commerce and bring the market back to reality.

My observation is that anything decent and priced reasonably will eventually sell. They is so much junk up there that nobody wants its amazing. There was a recent foreclosure that went back to the bank at $800K and sold prior to auction at $470K, not a bad deal but due to the property condition IMHO it was only worth about $350.

I am a happy renter, sold in Moreno Valley in Dec. 2006 at the peak. I’ll be patient until I find a deal that make sense and not until then. No amount of gov’t BS and voodoo numbers will change the outcome.

[waiting hawk]

“Prices are still around a million for a home like his, on about half acre, 4000 sq. ft, not $650K as you suggest.”

haha I did not say nothing about a 4000 sqft place. who the hell would want to heat and cool that crap? as for the 650k price do you have a dencent place to look (I see about 25 properties at 650 or lower)? As I “suggested” above banyan 1/2 acre lot. L2read. I’m talking about 20k lot and 2k sqft plus. Not some mini mansion I overpay and kill myself to cool in the summer.

I hear you mountain man. The normal mls does not apply in the mountains. They have oit all locked. If you are viewing ziprealty for mountain homes you are waisting your time. As for the “deal” or price you really need to hear of places before they get listed. By the time the mls is listed a whole bunch of investors already said no and passed. Start networking now.

Edit.. Nothing at all I have said states anything about a bottom. Don’t even think about it. No we are not there at all yet. The statment about pulling a property to a number crunched personel level is about right.

[waiting hawk]

“Prices are still around a million for a home like his, on about half acre, 4000 sq. ft, not $650K as you suggest.”

haha I did not say nothing about a 4000 sqft place. who the hell would want to heat and cool that crap? as for the 650k price do you have a dencent place to look (I see about 25 properties at 650 or lower)? As I “suggested” above banyan 1/2 acre lot. L2read. I’m talking about 20k lot and 2k sqft plus. Not some mini mansion I overpay and kill myself to cool in the summer.

I hear you mountain man. The normal mls does not apply in the mountains. They have oit all locked. If you are viewing ziprealty for mountain homes you are waisting your time. As for the “deal” or price you really need to hear of places before they get listed. By the time the mls is listed a whole bunch of investors already said no and passed. Start networking now.

Edit.. Nothing at all I have said states anything about a bottom. Don’t even think about it. No we are not there at all yet. The statment about pulling a property to a number crunched personel level is about right.

[waiting hawk]

“Prices are still around a million for a home like his, on about half acre, 4000 sq. ft, not $650K as you suggest.”

haha I did not say nothing about a 4000 sqft place. who the hell would want to heat and cool that crap? as for the 650k price do you have a dencent place to look (I see about 25 properties at 650 or lower)? As I “suggested” above banyan 1/2 acre lot. L2read. I’m talking about 20k lot and 2k sqft plus. Not some mini mansion I overpay and kill myself to cool in the summer.

I hear you mountain man. The normal mls does not apply in the mountains. They have oit all locked. If you are viewing ziprealty for mountain homes you are waisting your time. As for the “deal” or price you really need to hear of places before they get listed. By the time the mls is listed a whole bunch of investors already said no and passed. Start networking now.

Edit.. Nothing at all I have said states anything about a bottom. Don’t even think about it. No we are not there at all yet. The statment about pulling a property to a number crunched personel level is about right.

[waiting hawk]

“Prices are still around a million for a home like his, on about half acre, 4000 sq. ft, not $650K as you suggest.”

haha I did not say nothing about a 4000 sqft place. who the hell would want to heat and cool that crap? as for the 650k price do you have a dencent place to look (I see about 25 properties at 650 or lower)? As I “suggested” above banyan 1/2 acre lot. L2read. I’m talking about 20k lot and 2k sqft plus. Not some mini mansion I overpay and kill myself to cool in the summer.

I hear you mountain man. The normal mls does not apply in the mountains. They have oit all locked. If you are viewing ziprealty for mountain homes you are waisting your time. As for the “deal” or price you really need to hear of places before they get listed. By the time the mls is listed a whole bunch of investors already said no and passed. Start networking now.

Edit.. Nothing at all I have said states anything about a bottom. Don’t even think about it. No we are not there at all yet. The statment about pulling a property to a number crunched personel level is about right.

[waiting hawk]

“Prices are still around a million for a home like his, on about half acre, 4000 sq. ft, not $650K as you suggest.”

haha I did not say nothing about a 4000 sqft place. who the hell would want to heat and cool that crap? as for the 650k price do you have a dencent place to look (I see about 25 properties at 650 or lower)? As I “suggested” above banyan 1/2 acre lot. L2read. I’m talking about 20k lot and 2k sqft plus. Not some mini mansion I overpay and kill myself to cool in the summer.

I hear you mountain man. The normal mls does not apply in the mountains. They have oit all locked. If you are viewing ziprealty for mountain homes you are waisting your time. As for the “deal” or price you really need to hear of places before they get listed. By the time the mls is listed a whole bunch of investors already said no and passed. Start networking now.

Edit.. Nothing at all I have said states anything about a bottom. Don’t even think about it. No we are not there at all yet. The statment about pulling a property to a number crunched personel level is about right.

[Author]

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