Creating a sense of urgency. You better buy now!

[CA renter]

Excellent post, SDR.

I started seeing the crazies last year, beginning around February (2008). This was especially true in the better areas. If it’s getting busier right now, then it’s definitely time to step to the side, IMHO.

The bubble is NOT over. People still have the mindset that housing is the path to riches, and once this little slowdown is over in a few months, then prices will rocket back up.

I refuse to compete with these people, so we’ll just continue to rent. It’s nice having that flexibility anyway. 🙂

There is definitely a lot of supply that’s being kept off the market. Hearing lots of stories about people who haven’t paid their mortgages in many, many months…even years!

Good luck to everyone, both renters and owners!

[Eugene]

[quote=Oxford]My $929k, LCV home has been on the market for three weeks with lots of traffic and no offers. It is staged and presents very well.

So is this buying “shark-feed” passing me by?
[/quote]

SDR said “this is not the case for million dollar homes and higher end stuff. That inventory is still catching up to the real world. ” LCV @ $929K belongs in that category, too. Activity is concentrated in areas where people can get government sponsored low-interest loans with 5% or less down.

[Eugene]

[quote=Oxford]My $929k, LCV home has been on the market for three weeks with lots of traffic and no offers. It is staged and presents very well.

So is this buying “shark-feed” passing me by?
[/quote]

SDR said “this is not the case for million dollar homes and higher end stuff. That inventory is still catching up to the real world. ” LCV @ $929K belongs in that category, too. Activity is concentrated in areas where people can get government sponsored low-interest loans with 5% or less down.

[Eugene]

[quote=Oxford]My $929k, LCV home has been on the market for three weeks with lots of traffic and no offers. It is staged and presents very well.

So is this buying “shark-feed” passing me by?
[/quote]

SDR said “this is not the case for million dollar homes and higher end stuff. That inventory is still catching up to the real world. ” LCV @ $929K belongs in that category, too. Activity is concentrated in areas where people can get government sponsored low-interest loans with 5% or less down.

[Eugene]

[quote=Oxford]My $929k, LCV home has been on the market for three weeks with lots of traffic and no offers. It is staged and presents very well.

So is this buying “shark-feed” passing me by?
[/quote]

SDR said “this is not the case for million dollar homes and higher end stuff. That inventory is still catching up to the real world. ” LCV @ $929K belongs in that category, too. Activity is concentrated in areas where people can get government sponsored low-interest loans with 5% or less down.

[Eugene]

[quote=Oxford]My $929k, LCV home has been on the market for three weeks with lots of traffic and no offers. It is staged and presents very well.

So is this buying “shark-feed” passing me by?
[/quote]

SDR said “this is not the case for million dollar homes and higher end stuff. That inventory is still catching up to the real world. ” LCV @ $929K belongs in that category, too. Activity is concentrated in areas where people can get government sponsored low-interest loans with 5% or less down.

[socrattt]

[quote=Oxford]

My agent suggests to not chase the market…yet.

I sense the slurpee sucking sharks are circling and waiting for some bigger fish to show weakness.

OX[/quote]

Keep in mind that no good news is coming anytime in the near future. The only fire power you have on your side is the moratorium on these REO’s coming to the market. From what I hear things are changing very soon as the banks will have to start moving these properties. I don’t necessarily think you need to chase the market, but $929K doesn’t sound like an aggressive price for the home. Your home is losing value daily and greed can be killer at the end of the day! Good luck and remember your agent isn’t always right!

[socrattt]

[quote=Oxford]

My agent suggests to not chase the market…yet.

I sense the slurpee sucking sharks are circling and waiting for some bigger fish to show weakness.

OX[/quote]

Keep in mind that no good news is coming anytime in the near future. The only fire power you have on your side is the moratorium on these REO’s coming to the market. From what I hear things are changing very soon as the banks will have to start moving these properties. I don’t necessarily think you need to chase the market, but $929K doesn’t sound like an aggressive price for the home. Your home is losing value daily and greed can be killer at the end of the day! Good luck and remember your agent isn’t always right!

[socrattt]

[quote=Oxford]

My agent suggests to not chase the market…yet.

I sense the slurpee sucking sharks are circling and waiting for some bigger fish to show weakness.

OX[/quote]

Keep in mind that no good news is coming anytime in the near future. The only fire power you have on your side is the moratorium on these REO’s coming to the market. From what I hear things are changing very soon as the banks will have to start moving these properties. I don’t necessarily think you need to chase the market, but $929K doesn’t sound like an aggressive price for the home. Your home is losing value daily and greed can be killer at the end of the day! Good luck and remember your agent isn’t always right!

[socrattt]

[quote=Oxford]

My agent suggests to not chase the market…yet.

I sense the slurpee sucking sharks are circling and waiting for some bigger fish to show weakness.

OX[/quote]

Keep in mind that no good news is coming anytime in the near future. The only fire power you have on your side is the moratorium on these REO’s coming to the market. From what I hear things are changing very soon as the banks will have to start moving these properties. I don’t necessarily think you need to chase the market, but $929K doesn’t sound like an aggressive price for the home. Your home is losing value daily and greed can be killer at the end of the day! Good luck and remember your agent isn’t always right!

[socrattt]

[quote=Oxford]

My agent suggests to not chase the market…yet.

I sense the slurpee sucking sharks are circling and waiting for some bigger fish to show weakness.

OX[/quote]

Keep in mind that no good news is coming anytime in the near future. The only fire power you have on your side is the moratorium on these REO’s coming to the market. From what I hear things are changing very soon as the banks will have to start moving these properties. I don’t necessarily think you need to chase the market, but $929K doesn’t sound like an aggressive price for the home. Your home is losing value daily and greed can be killer at the end of the day! Good luck and remember your agent isn’t always right!

[AK]

From what I’ve seen there is a bunch of stealth REO inventory ready to come on the market … some of it assigned to brokers, signs up at some of them, but none of it officially listed yet.

I’m chomping at the bit.

[AK]

From what I’ve seen there is a bunch of stealth REO inventory ready to come on the market … some of it assigned to brokers, signs up at some of them, but none of it officially listed yet.

I’m chomping at the bit.

[AK]

From what I’ve seen there is a bunch of stealth REO inventory ready to come on the market … some of it assigned to brokers, signs up at some of them, but none of it officially listed yet.

I’m chomping at the bit.

[AK]

From what I’ve seen there is a bunch of stealth REO inventory ready to come on the market … some of it assigned to brokers, signs up at some of them, but none of it officially listed yet.

I’m chomping at the bit.

[Author]

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