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  • March 19, 2010 at 3:03 PM #528973
    LittleMissPiggy
    Participant

    Thank you so much for responding everyone.

    Actually we submitted an offer just yesterday minutes before I freaked out and posted. As I wrote my agent does not have experience with REO so I think I am screwed there. We offered 5% less than the listing price. They said they had multiple offers. Now today bank responds with this “worksheet showing Seller counter terms” in which they are sticking with the listing price.
    I am thinking: is this like negotiating?
    I like the house and if bank accepts my original offer I will be happy.
    What is your opinion, should I stick to my guns? As I said I like the house, for this price it is okay. If I raised the offer, the house will seem less appealing at that price. Plus, I will not only be not proud of myself as a pig but also be an embarrassment to fellow pigs.
    So please advice. They want to know before Monday.

    March 19, 2010 at 3:35 PM #528051
    SD Realtor
    Participant

    Don’t go through life worrying about what people think of you.

    If you love the house then get the house. The postings above exhibit a generalization that to me is fairly useless. If there are a bunch of offers and it is overbid then they make no sense at all. If there are no bids and the home has been on the market a long time then you may overpay. Every situation requires more then a cookie cutter approach.

    If you really love the home then go after it AS LONG AS YOU CAN AFFORD IT. If you think that the difference between what you offered and what you may have to pay for the home is going to make the home that much less appealing then stick to your guns. Depdnding on the area there may be alot of depreciation in the future. Your agent should be able to give you guidance.

    There will ALWAYS be more homes available.

    March 19, 2010 at 3:35 PM #528183
    SD Realtor
    Participant

    Don’t go through life worrying about what people think of you.

    If you love the house then get the house. The postings above exhibit a generalization that to me is fairly useless. If there are a bunch of offers and it is overbid then they make no sense at all. If there are no bids and the home has been on the market a long time then you may overpay. Every situation requires more then a cookie cutter approach.

    If you really love the home then go after it AS LONG AS YOU CAN AFFORD IT. If you think that the difference between what you offered and what you may have to pay for the home is going to make the home that much less appealing then stick to your guns. Depdnding on the area there may be alot of depreciation in the future. Your agent should be able to give you guidance.

    There will ALWAYS be more homes available.

    March 19, 2010 at 3:35 PM #528632
    SD Realtor
    Participant

    Don’t go through life worrying about what people think of you.

    If you love the house then get the house. The postings above exhibit a generalization that to me is fairly useless. If there are a bunch of offers and it is overbid then they make no sense at all. If there are no bids and the home has been on the market a long time then you may overpay. Every situation requires more then a cookie cutter approach.

    If you really love the home then go after it AS LONG AS YOU CAN AFFORD IT. If you think that the difference between what you offered and what you may have to pay for the home is going to make the home that much less appealing then stick to your guns. Depdnding on the area there may be alot of depreciation in the future. Your agent should be able to give you guidance.

    There will ALWAYS be more homes available.

    March 19, 2010 at 3:35 PM #528728
    SD Realtor
    Participant

    Don’t go through life worrying about what people think of you.

    If you love the house then get the house. The postings above exhibit a generalization that to me is fairly useless. If there are a bunch of offers and it is overbid then they make no sense at all. If there are no bids and the home has been on the market a long time then you may overpay. Every situation requires more then a cookie cutter approach.

    If you really love the home then go after it AS LONG AS YOU CAN AFFORD IT. If you think that the difference between what you offered and what you may have to pay for the home is going to make the home that much less appealing then stick to your guns. Depdnding on the area there may be alot of depreciation in the future. Your agent should be able to give you guidance.

    There will ALWAYS be more homes available.

    March 19, 2010 at 3:35 PM #528988
    SD Realtor
    Participant

    Don’t go through life worrying about what people think of you.

    If you love the house then get the house. The postings above exhibit a generalization that to me is fairly useless. If there are a bunch of offers and it is overbid then they make no sense at all. If there are no bids and the home has been on the market a long time then you may overpay. Every situation requires more then a cookie cutter approach.

    If you really love the home then go after it AS LONG AS YOU CAN AFFORD IT. If you think that the difference between what you offered and what you may have to pay for the home is going to make the home that much less appealing then stick to your guns. Depdnding on the area there may be alot of depreciation in the future. Your agent should be able to give you guidance.

    There will ALWAYS be more homes available.

    March 19, 2010 at 4:15 PM #528071
    LittleMissPiggy
    Participant

    “There will ALWAYS be more homes available.”

    Do you really think so? There are not many houses on sale in San Diego right now. That “shadow inventory” is so elusive, that I lost hope for it ever showing up in MLS. Rates are not going to be as low for long.
    As someone said in another thread people who were scrupulous and did not buy during the bubble are screwed and mad as hell. I see people throwing money like crazy to get in a property now. It feels like we the pigs already lost the waiting game.

    March 19, 2010 at 4:15 PM #528203
    LittleMissPiggy
    Participant

    “There will ALWAYS be more homes available.”

    Do you really think so? There are not many houses on sale in San Diego right now. That “shadow inventory” is so elusive, that I lost hope for it ever showing up in MLS. Rates are not going to be as low for long.
    As someone said in another thread people who were scrupulous and did not buy during the bubble are screwed and mad as hell. I see people throwing money like crazy to get in a property now. It feels like we the pigs already lost the waiting game.

    March 19, 2010 at 4:15 PM #528652
    LittleMissPiggy
    Participant

    “There will ALWAYS be more homes available.”

    Do you really think so? There are not many houses on sale in San Diego right now. That “shadow inventory” is so elusive, that I lost hope for it ever showing up in MLS. Rates are not going to be as low for long.
    As someone said in another thread people who were scrupulous and did not buy during the bubble are screwed and mad as hell. I see people throwing money like crazy to get in a property now. It feels like we the pigs already lost the waiting game.

    March 19, 2010 at 4:15 PM #528748
    LittleMissPiggy
    Participant

    “There will ALWAYS be more homes available.”

    Do you really think so? There are not many houses on sale in San Diego right now. That “shadow inventory” is so elusive, that I lost hope for it ever showing up in MLS. Rates are not going to be as low for long.
    As someone said in another thread people who were scrupulous and did not buy during the bubble are screwed and mad as hell. I see people throwing money like crazy to get in a property now. It feels like we the pigs already lost the waiting game.

    March 19, 2010 at 4:15 PM #529008
    LittleMissPiggy
    Participant

    “There will ALWAYS be more homes available.”

    Do you really think so? There are not many houses on sale in San Diego right now. That “shadow inventory” is so elusive, that I lost hope for it ever showing up in MLS. Rates are not going to be as low for long.
    As someone said in another thread people who were scrupulous and did not buy during the bubble are screwed and mad as hell. I see people throwing money like crazy to get in a property now. It feels like we the pigs already lost the waiting game.

    March 19, 2010 at 5:20 PM #528086
    SD Realtor
    Participant

    Actually that someone may have been me. Alot of people are mad because our govt has decided to punish those who were scrupulous by enacting policies that bailout institutions who lent to people who should not have been lent to, and individuals who frankly spent more then they could ever afford. Now we have a crappy inventory situation and artificially supported pricing. It is horrible. So you are now feeling that buy now or forever not get a decent home or watch prices move upward. I don’t buy into that. I do buy into the fact that yes, you did miss a local bottom and it may take quite awhile to get back there. Yes there will always be other homes, they may take a week to come out they may take another 2 years to come out. It is frustrating but they always come out.

    March 19, 2010 at 5:20 PM #528218
    SD Realtor
    Participant

    Actually that someone may have been me. Alot of people are mad because our govt has decided to punish those who were scrupulous by enacting policies that bailout institutions who lent to people who should not have been lent to, and individuals who frankly spent more then they could ever afford. Now we have a crappy inventory situation and artificially supported pricing. It is horrible. So you are now feeling that buy now or forever not get a decent home or watch prices move upward. I don’t buy into that. I do buy into the fact that yes, you did miss a local bottom and it may take quite awhile to get back there. Yes there will always be other homes, they may take a week to come out they may take another 2 years to come out. It is frustrating but they always come out.

    March 19, 2010 at 5:20 PM #528667
    SD Realtor
    Participant

    Actually that someone may have been me. Alot of people are mad because our govt has decided to punish those who were scrupulous by enacting policies that bailout institutions who lent to people who should not have been lent to, and individuals who frankly spent more then they could ever afford. Now we have a crappy inventory situation and artificially supported pricing. It is horrible. So you are now feeling that buy now or forever not get a decent home or watch prices move upward. I don’t buy into that. I do buy into the fact that yes, you did miss a local bottom and it may take quite awhile to get back there. Yes there will always be other homes, they may take a week to come out they may take another 2 years to come out. It is frustrating but they always come out.

    March 19, 2010 at 5:20 PM #528763
    SD Realtor
    Participant

    Actually that someone may have been me. Alot of people are mad because our govt has decided to punish those who were scrupulous by enacting policies that bailout institutions who lent to people who should not have been lent to, and individuals who frankly spent more then they could ever afford. Now we have a crappy inventory situation and artificially supported pricing. It is horrible. So you are now feeling that buy now or forever not get a decent home or watch prices move upward. I don’t buy into that. I do buy into the fact that yes, you did miss a local bottom and it may take quite awhile to get back there. Yes there will always be other homes, they may take a week to come out they may take another 2 years to come out. It is frustrating but they always come out.

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