Deutsche Bank Short Sale

[takilma]

That’s the odd thing in this – to my knowledge, I made the only offer, and they didn’t accept it. I’m inclined to stick with my original offer, just to see what they do. But, they own another unit in the same complex, started out at $322 in August, just reduced for the 4th time, down to $264k. Meanwhile, across the street, an identical unit, another reo, was just listed last week at $210k. Maybe Deutsche just isn’t in as bad a shape as the others?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

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