September 10, 2006 at 8:09 PM #7464
I CASHED OUT AND I AM SO SO HAPPY.
WHOEVER SUCKER TELLS YOU TO HOLD OUT FOR BETTER OFFER, TELL THEM TO F*** OFF!!
WHOEVER GREEDY ENOUGH TO WAIT FOR BETTER OFFER, LET THEM BURN. NO LOVE FOR THEM. GREEDY PEOPLE DESERVE TO LOSE MONEY!!!!September 10, 2006 at 8:49 PM #34915
SORRY, SORRY, MY BAD.
I BOUGHT OCT 2000 (2300 SQFT AT CMR) FOR $400,000.
SOLD IT MAR 06 FOR $655000.
CASHED OUT $220,000 IN THE POCKET. OH YEAH BABY.
MY STUPID AGENT TOLD ME TO WAIT FOR BETTER DEAL. SHE WAS MORE GREEDY THAN US. SHE SAID IT COULD SELL FOR ABOUT $715000. I TOLD HER NO WAY, NONE OF MY NEIGHBORS ARE SELLING AT THAT PRICE RANGE. THEY ARE HOPING, BUT NO ACTION, NO OFFER, JUST SITTING. I AIN’T WAITIN’ NO MORE, BUDDIES. MARKET IS DROPPING AND I AIN’T HOPING, I ACTED.
SO, NOW I AM SO VERY HAPPY.
END OF STORY.September 10, 2006 at 9:09 PM #34921waiting hawkParticipant
Good deal. Where was this home located?September 10, 2006 at 9:28 PM #34923
CARMEL MOUNTAIN RANCHSeptember 11, 2006 at 6:21 AM #34935ChrispyParticipant
Congratulations. Can you type in lower case so it’s easier to read? Thanks!
What are the standard expense items to consider when figuring profit, everybody? Here’s what’s on my list:
1) Realtor commissions
2) HOA fees paid while in the house
3) Mello-Roos if any
4) Homeowner’s insurance
5) Upgrades, maintenance
6) Real estate taxes
Do you add in PITI? Or just interest? Or just principal?September 11, 2006 at 6:21 AM #34936
He told us in his post (2300 sq ft CMR), CMR = Carmel Mtn RanchSeptember 11, 2006 at 6:24 AM #34937
Chrispy, it depends on when the person bought it. Someone who bought a few years ago, has a mortgage much lower than current rental rates, so they made more money by owning than by renting, every single month. They should subtract their mortgage savings vs. rent, from their final cost. If they bought after mortgages exceeded rental costs, then the additional mortgage payment could be considered a holding cost too.September 11, 2006 at 10:47 AM #34959ChrispyParticipant
Thanks, PS. That’s the clarification I need. I get annoyed when people merely subtract the price they originally paid from the new sales price to figure out their profit – without figuring in expenses.
I feel there will be quite a few negative figures in the near future. As a seller, can you imagine bringing a checkbook to closing?September 11, 2006 at 1:54 PM #34983
Lots of sellers are bringing checkbooks to closing. If you don’t the IRS taxes you on the forgiven debt at your regular tax rate.
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