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Viewing 15 posts - 31 through 45 (of 46 total)
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  • November 11, 2008 at 3:04 PM #303277
    boomer
    Participant

    Getting mad or jealous that someone might make 12% in one month is just a waste of time. If they bought at the TS, they paid all cash. People buying at the TS provide a valuable service. They are more likely to fix anything wrong with the house and put it back on the market at a reasonable price. This aids in getting the market down to the levels most of would like to see. Buying this at 535K and trying to sell at 598K is not however a spread I would feel comfortable with. Remember you have closing costs in there.

    It cracks me up how pissed off people get when they think someone else might make a quick buck. It was not the “flippers” that caused this bubble. There is risk in every one of these deals. Lets see how this one plays out… I’ll bet not well.

    November 17, 2008 at 4:51 PM #306050
    aldante
    Participant

    Guess the real question is the business reason for taking that kind of risk on an asset that only a month ago was put up for auction for 535k? That is the best way to know what a property is worth right? What it will sell for? Well there were numerous bids on this house in and 535k was the winning bid. Why would they think that suddenly someone would pay 598k one month later…..? That is why it sounds fishy to me. Nothing personal just business.

    November 17, 2008 at 4:51 PM #306416
    aldante
    Participant

    Guess the real question is the business reason for taking that kind of risk on an asset that only a month ago was put up for auction for 535k? That is the best way to know what a property is worth right? What it will sell for? Well there were numerous bids on this house in and 535k was the winning bid. Why would they think that suddenly someone would pay 598k one month later…..? That is why it sounds fishy to me. Nothing personal just business.

    November 17, 2008 at 4:51 PM #306430
    aldante
    Participant

    Guess the real question is the business reason for taking that kind of risk on an asset that only a month ago was put up for auction for 535k? That is the best way to know what a property is worth right? What it will sell for? Well there were numerous bids on this house in and 535k was the winning bid. Why would they think that suddenly someone would pay 598k one month later…..? That is why it sounds fishy to me. Nothing personal just business.

    November 17, 2008 at 4:51 PM #306449
    aldante
    Participant

    Guess the real question is the business reason for taking that kind of risk on an asset that only a month ago was put up for auction for 535k? That is the best way to know what a property is worth right? What it will sell for? Well there were numerous bids on this house in and 535k was the winning bid. Why would they think that suddenly someone would pay 598k one month later…..? That is why it sounds fishy to me. Nothing personal just business.

    November 17, 2008 at 4:51 PM #306509
    aldante
    Participant

    Guess the real question is the business reason for taking that kind of risk on an asset that only a month ago was put up for auction for 535k? That is the best way to know what a property is worth right? What it will sell for? Well there were numerous bids on this house in and 535k was the winning bid. Why would they think that suddenly someone would pay 598k one month later…..? That is why it sounds fishy to me. Nothing personal just business.

    November 17, 2008 at 6:48 PM #306115
    TheBreeze
    Participant

    Let’s see if this gets flipped in a less-than-arms-length transaction at a much higher price.

    November 17, 2008 at 6:48 PM #306481
    TheBreeze
    Participant

    Let’s see if this gets flipped in a less-than-arms-length transaction at a much higher price.

    November 17, 2008 at 6:48 PM #306495
    TheBreeze
    Participant

    Let’s see if this gets flipped in a less-than-arms-length transaction at a much higher price.

    November 17, 2008 at 6:48 PM #306514
    TheBreeze
    Participant

    Let’s see if this gets flipped in a less-than-arms-length transaction at a much higher price.

    November 17, 2008 at 6:48 PM #306574
    TheBreeze
    Participant

    Let’s see if this gets flipped in a less-than-arms-length transaction at a much higher price.

    November 17, 2008 at 6:53 PM #306125
    SD Realtor
    Participant

    Aldante sorry for not getting back to you as I frequently do not have any more free time to follow up on posts….

    I think I see your point more clearly which is well intentioned but for this particular case not germain. (hope I spelled that right)…

    Think about it, in this case the seller came in with a nice little chunk of change for the downpayment. Now if the seller had intentions of defaulting chances are that they would not come in with thier own cash. Similarly the reworks/bailouts (and don’t get me wrong, I clearly hate them) do impose restrictions on people that are specific to the resale of the home. That is, effectively you are giving up future realized profit from appreciation. Now I do not know the specifics but I think you can see that the bailout will not help this speculator at all. In fact if he does need a bailout because he cannot afford the payments he will be somewhat chained to the home. See what I mean? If the guy came in with no money down then we have a different story.

    We will know what it sells for if/when it sells. Remember not all speculators are smart. Also as people look to put cash in different areas due to poor performance and low yields don’t be surprised to see a boob or two purchase a home at trustee sale. I have posted before about people making money by flipping trustee sale homes. If you know your submarket and get a deal you can make very good money. If you don’t or are a novice, chances are you will get burned.

    November 17, 2008 at 6:53 PM #306491
    SD Realtor
    Participant

    Aldante sorry for not getting back to you as I frequently do not have any more free time to follow up on posts….

    I think I see your point more clearly which is well intentioned but for this particular case not germain. (hope I spelled that right)…

    Think about it, in this case the seller came in with a nice little chunk of change for the downpayment. Now if the seller had intentions of defaulting chances are that they would not come in with thier own cash. Similarly the reworks/bailouts (and don’t get me wrong, I clearly hate them) do impose restrictions on people that are specific to the resale of the home. That is, effectively you are giving up future realized profit from appreciation. Now I do not know the specifics but I think you can see that the bailout will not help this speculator at all. In fact if he does need a bailout because he cannot afford the payments he will be somewhat chained to the home. See what I mean? If the guy came in with no money down then we have a different story.

    We will know what it sells for if/when it sells. Remember not all speculators are smart. Also as people look to put cash in different areas due to poor performance and low yields don’t be surprised to see a boob or two purchase a home at trustee sale. I have posted before about people making money by flipping trustee sale homes. If you know your submarket and get a deal you can make very good money. If you don’t or are a novice, chances are you will get burned.

    November 17, 2008 at 6:53 PM #306505
    SD Realtor
    Participant

    Aldante sorry for not getting back to you as I frequently do not have any more free time to follow up on posts….

    I think I see your point more clearly which is well intentioned but for this particular case not germain. (hope I spelled that right)…

    Think about it, in this case the seller came in with a nice little chunk of change for the downpayment. Now if the seller had intentions of defaulting chances are that they would not come in with thier own cash. Similarly the reworks/bailouts (and don’t get me wrong, I clearly hate them) do impose restrictions on people that are specific to the resale of the home. That is, effectively you are giving up future realized profit from appreciation. Now I do not know the specifics but I think you can see that the bailout will not help this speculator at all. In fact if he does need a bailout because he cannot afford the payments he will be somewhat chained to the home. See what I mean? If the guy came in with no money down then we have a different story.

    We will know what it sells for if/when it sells. Remember not all speculators are smart. Also as people look to put cash in different areas due to poor performance and low yields don’t be surprised to see a boob or two purchase a home at trustee sale. I have posted before about people making money by flipping trustee sale homes. If you know your submarket and get a deal you can make very good money. If you don’t or are a novice, chances are you will get burned.

    November 17, 2008 at 6:53 PM #306523
    SD Realtor
    Participant

    Aldante sorry for not getting back to you as I frequently do not have any more free time to follow up on posts….

    I think I see your point more clearly which is well intentioned but for this particular case not germain. (hope I spelled that right)…

    Think about it, in this case the seller came in with a nice little chunk of change for the downpayment. Now if the seller had intentions of defaulting chances are that they would not come in with thier own cash. Similarly the reworks/bailouts (and don’t get me wrong, I clearly hate them) do impose restrictions on people that are specific to the resale of the home. That is, effectively you are giving up future realized profit from appreciation. Now I do not know the specifics but I think you can see that the bailout will not help this speculator at all. In fact if he does need a bailout because he cannot afford the payments he will be somewhat chained to the home. See what I mean? If the guy came in with no money down then we have a different story.

    We will know what it sells for if/when it sells. Remember not all speculators are smart. Also as people look to put cash in different areas due to poor performance and low yields don’t be surprised to see a boob or two purchase a home at trustee sale. I have posted before about people making money by flipping trustee sale homes. If you know your submarket and get a deal you can make very good money. If you don’t or are a novice, chances are you will get burned.

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