Buy now – the bidding war will drive prices up

[jpinpb]

Rustico – I have no problem buying a fixer, as long as it’s not major. I’ve seen some w/some major foundation cracks that I don’t even think the bank would approve a loan on. But the fixers need to be priced accordingly. Some fixers are priced as much as the ones that aren’t, basically pricing for neighborhood, maybe slightly less. Still the denial mentality and stubborness. The resistance is weakening.

[NotCranky]

Yeah JP,
You might as well walk away from the structural stuff unless you are a contractor. I am and I still would stay away from much of it.Even a contractor has to hire and engineer and that can ruin a good deal. Gotta get it priced in.

Even the fixer market needs help with price softening. I just speak up on this topic because I like sweat equity and will take some discomfort with a neighborhood or whatever to improve the deal if necessary. This is the last thing on many piggs mind but like I said, I like this part of the business.

[NotCranky]

Yeah JP,
You might as well walk away from the structural stuff unless you are a contractor. I am and I still would stay away from much of it.Even a contractor has to hire and engineer and that can ruin a good deal. Gotta get it priced in.

Even the fixer market needs help with price softening. I just speak up on this topic because I like sweat equity and will take some discomfort with a neighborhood or whatever to improve the deal if necessary. This is the last thing on many piggs mind but like I said, I like this part of the business.

[NotCranky]

Yeah JP,
You might as well walk away from the structural stuff unless you are a contractor. I am and I still would stay away from much of it.Even a contractor has to hire and engineer and that can ruin a good deal. Gotta get it priced in.

Even the fixer market needs help with price softening. I just speak up on this topic because I like sweat equity and will take some discomfort with a neighborhood or whatever to improve the deal if necessary. This is the last thing on many piggs mind but like I said, I like this part of the business.

[NotCranky]

Yeah JP,
You might as well walk away from the structural stuff unless you are a contractor. I am and I still would stay away from much of it.Even a contractor has to hire and engineer and that can ruin a good deal. Gotta get it priced in.

Even the fixer market needs help with price softening. I just speak up on this topic because I like sweat equity and will take some discomfort with a neighborhood or whatever to improve the deal if necessary. This is the last thing on many piggs mind but like I said, I like this part of the business.

[NotCranky]

Yeah JP,
You might as well walk away from the structural stuff unless you are a contractor. I am and I still would stay away from much of it.Even a contractor has to hire and engineer and that can ruin a good deal. Gotta get it priced in.

Even the fixer market needs help with price softening. I just speak up on this topic because I like sweat equity and will take some discomfort with a neighborhood or whatever to improve the deal if necessary. This is the last thing on many piggs mind but like I said, I like this part of the business.

[DoJC]

I have two friends I spoke with yesterday. One is a real estate agent with more than 30 years experience, the other is in investing – business and personal.

They told me about a couple of really low-priced homes that got more than 20 offers each. One listed for $219k, and his client was the first to get a bid in on it. Twenty-four bids later it sold for $290k. Another low-priced home got 35+ bids on it.

Seems the only market really moving are those priced well below market. Those that are get many offers, and are going for much higher than the super-low asking price.

– Doug

[DoJC]

I have two friends I spoke with yesterday. One is a real estate agent with more than 30 years experience, the other is in investing – business and personal.

They told me about a couple of really low-priced homes that got more than 20 offers each. One listed for $219k, and his client was the first to get a bid in on it. Twenty-four bids later it sold for $290k. Another low-priced home got 35+ bids on it.

Seems the only market really moving are those priced well below market. Those that are get many offers, and are going for much higher than the super-low asking price.

– Doug

[DoJC]

I have two friends I spoke with yesterday. One is a real estate agent with more than 30 years experience, the other is in investing – business and personal.

They told me about a couple of really low-priced homes that got more than 20 offers each. One listed for $219k, and his client was the first to get a bid in on it. Twenty-four bids later it sold for $290k. Another low-priced home got 35+ bids on it.

Seems the only market really moving are those priced well below market. Those that are get many offers, and are going for much higher than the super-low asking price.

– Doug

[DoJC]

I have two friends I spoke with yesterday. One is a real estate agent with more than 30 years experience, the other is in investing – business and personal.

They told me about a couple of really low-priced homes that got more than 20 offers each. One listed for $219k, and his client was the first to get a bid in on it. Twenty-four bids later it sold for $290k. Another low-priced home got 35+ bids on it.

Seems the only market really moving are those priced well below market. Those that are get many offers, and are going for much higher than the super-low asking price.

– Doug

[DoJC]

I have two friends I spoke with yesterday. One is a real estate agent with more than 30 years experience, the other is in investing – business and personal.

They told me about a couple of really low-priced homes that got more than 20 offers each. One listed for $219k, and his client was the first to get a bid in on it. Twenty-four bids later it sold for $290k. Another low-priced home got 35+ bids on it.

Seems the only market really moving are those priced well below market. Those that are get many offers, and are going for much higher than the super-low asking price.

– Doug

[donaldduckmoore]

Pencilneck, time for housing market recovery depends on a lot of factors. It took 16 years for Japan, but it took less than 10 years in Hong Kong. Expensive land is one of the well-known issues of housing market in HK to the world. The highs and the lows are 50% difference. But it is now coming back up again. Different areas are different.

[donaldduckmoore]

Pencilneck, time for housing market recovery depends on a lot of factors. It took 16 years for Japan, but it took less than 10 years in Hong Kong. Expensive land is one of the well-known issues of housing market in HK to the world. The highs and the lows are 50% difference. But it is now coming back up again. Different areas are different.

[donaldduckmoore]

Pencilneck, time for housing market recovery depends on a lot of factors. It took 16 years for Japan, but it took less than 10 years in Hong Kong. Expensive land is one of the well-known issues of housing market in HK to the world. The highs and the lows are 50% difference. But it is now coming back up again. Different areas are different.

[donaldduckmoore]

Pencilneck, time for housing market recovery depends on a lot of factors. It took 16 years for Japan, but it took less than 10 years in Hong Kong. Expensive land is one of the well-known issues of housing market in HK to the world. The highs and the lows are 50% difference. But it is now coming back up again. Different areas are different.

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