Home Auction

[kyle t]

RE: Grow some balls!

HA, nicely said man, nicely said.

[kyle t]

RE: Grow some balls!

HA, nicely said man, nicely said.

[SD Realtor]

Waiting longer will enable you to get a much better deal, especially out there.

SD Realtor

ps – Kyle as a very useful exercise I would advise you to pick a few of the homes from the auction site that you like, then go visit them… check out the condition, you don’t need to hire an inspector but check them out, just to get a feel for them. Then go to the auction to see what these homes actually go for in relation to the original asking price. That way you can gauge what the reality is for the asking prices verses the selling price. Don’t forget the 5% commission.

[SD Realtor]

Waiting longer will enable you to get a much better deal, especially out there.

SD Realtor

ps – Kyle as a very useful exercise I would advise you to pick a few of the homes from the auction site that you like, then go visit them… check out the condition, you don’t need to hire an inspector but check them out, just to get a feel for them. Then go to the auction to see what these homes actually go for in relation to the original asking price. That way you can gauge what the reality is for the asking prices verses the selling price. Don’t forget the 5% commission.

[bsrsharma]

If you are ready for hard work, this algorithm might work:

1. Visit every home on auction list that fulfills your need.

2. Do Due Diligence on them.

3. Just bid the starting bid (on an acceptable home) and keep quiet. This requires a lot of self discipline.

My guess is, eventually you should win one at starting bid.

[bsrsharma]

If you are ready for hard work, this algorithm might work:

1. Visit every home on auction list that fulfills your need.

2. Do Due Diligence on them.

3. Just bid the starting bid (on an acceptable home) and keep quiet. This requires a lot of self discipline.

My guess is, eventually you should win one at starting bid.

[Bugs]

The more time and effort you spend on looking at these properties the better your instincts will get on them.

However good some of these deals may look right now, I’m pretty sure that they’ll look a lot better a year from now. Just keep in mind that $50,000 saved on a purchase price is about $115,000 saved over the life of a mortgage. That’s a lot of money.

[Bugs]

The more time and effort you spend on looking at these properties the better your instincts will get on them.

However good some of these deals may look right now, I’m pretty sure that they’ll look a lot better a year from now. Just keep in mind that $50,000 saved on a purchase price is about $115,000 saved over the life of a mortgage. That’s a lot of money.

[gn]

Well…maybe a wife that is pissed off that we are still toughing out this cramped little apartment! Maybe I should think about buying just to avoid that.

In 2005, when we were looking for a rental to "wait out the correction", my wife said: "since renting is just a temporary situation, why don't we rent an apartment".

I went out & rent a 4 bed room SFH. That's because I knew that the "temporary situation" would be long enough that we would be uncomfortable in an apartment. Of course, the SFH costs me more, but it saves me money in the long run because I can wait longer for the market to drop.

Kyle, I'm not trying to be harsh on you. But I think you made a mistake in renting a small place. And buying right now is another mistake. It's better to bite the bullet & rent a nice house in your area for another 2 years.

[gn]

Well…maybe a wife that is pissed off that we are still toughing out this cramped little apartment! Maybe I should think about buying just to avoid that.

In 2005, when we were looking for a rental to "wait out the correction", my wife said: "since renting is just a temporary situation, why don't we rent an apartment".

I went out & rent a 4 bed room SFH. That's because I knew that the "temporary situation" would be long enough that we would be uncomfortable in an apartment. Of course, the SFH costs me more, but it saves me money in the long run because I can wait longer for the market to drop.

Kyle, I'm not trying to be harsh on you. But I think you made a mistake in renting a small place. And buying right now is another mistake. It's better to bite the bullet & rent a nice house in your area for another 2 years.

[Author]

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