Ireland model

[bearishgurl]

[quote=sdrealtor]BG,
When I have more time I address the rest of your points but what you desribed as the way relo’s should happen pretty much describes exactly what happens up in NC. I just sold a property to a relo family and that is exactly what they did. They even came from a 2 acre property in Austin, TX.[/quote]

I would venture that your TX family DID NOT recover near enough (if anything) from the sale of their TX property to put down on a house in NCC. They must have had other assets or corporate/family help with which to purchase in NCC.

And I’m interested to know how you (or their relo-referral agent) were able to successfully “drill down their desires” for the NCC market and how long it took to do this. No matter what the educational or economic level of these buyers, these “desires” are ingrained in their (and their spouses) brains and are very difficult to eradicate in order to change someone’s behavior.

And do you personally think they will be “happy in the long run” (with the NCC property they chose) for the duration of their stint in SD County??

[briansd1]

[quote=sdrealtor]FWIW most of the distressed properties I see out there are not from the newbies they are from the renter class. Every city has a renter class. People who live paycheck to paycheck and who are best suited to renting. My maternal grandparents were part of that and never owned anything. The majority of what I see end up distressed is properties that were purchased by people in this category. WHen times got tough they saw they had nothing to lose. They were lifelong renters before and they could walk away and return to being renters in SD for the rest of their lives.
[/quote]

Interesting observations.

The Ownership Society was a complete fraud. The idea of offering exotic, sophisticated adjustable mortgages to the least educated buyers was bound for failure.

The problem is that homeownership was sky-high already. Who are the marginal buyers? They are investors who demand deep discounts to make the properties cash flow positive, or new households. Real estate will suffer from demand for some time as the excesses are purged from the system over years, if not decades.

[briansd1]

[quote=sdrealtor]FWIW most of the distressed properties I see out there are not from the newbies they are from the renter class. Every city has a renter class. People who live paycheck to paycheck and who are best suited to renting. My maternal grandparents were part of that and never owned anything. The majority of what I see end up distressed is properties that were purchased by people in this category. WHen times got tough they saw they had nothing to lose. They were lifelong renters before and they could walk away and return to being renters in SD for the rest of their lives.
[/quote]

Interesting observations.

The Ownership Society was a complete fraud. The idea of offering exotic, sophisticated adjustable mortgages to the least educated buyers was bound for failure.

The problem is that homeownership was sky-high already. Who are the marginal buyers? They are investors who demand deep discounts to make the properties cash flow positive, or new households. Real estate will suffer from demand for some time as the excesses are purged from the system over years, if not decades.

[briansd1]

[quote=sdrealtor]FWIW most of the distressed properties I see out there are not from the newbies they are from the renter class. Every city has a renter class. People who live paycheck to paycheck and who are best suited to renting. My maternal grandparents were part of that and never owned anything. The majority of what I see end up distressed is properties that were purchased by people in this category. WHen times got tough they saw they had nothing to lose. They were lifelong renters before and they could walk away and return to being renters in SD for the rest of their lives.
[/quote]

Interesting observations.

The Ownership Society was a complete fraud. The idea of offering exotic, sophisticated adjustable mortgages to the least educated buyers was bound for failure.

The problem is that homeownership was sky-high already. Who are the marginal buyers? They are investors who demand deep discounts to make the properties cash flow positive, or new households. Real estate will suffer from demand for some time as the excesses are purged from the system over years, if not decades.

[briansd1]

[quote=sdrealtor]FWIW most of the distressed properties I see out there are not from the newbies they are from the renter class. Every city has a renter class. People who live paycheck to paycheck and who are best suited to renting. My maternal grandparents were part of that and never owned anything. The majority of what I see end up distressed is properties that were purchased by people in this category. WHen times got tough they saw they had nothing to lose. They were lifelong renters before and they could walk away and return to being renters in SD for the rest of their lives.
[/quote]

Interesting observations.

The Ownership Society was a complete fraud. The idea of offering exotic, sophisticated adjustable mortgages to the least educated buyers was bound for failure.

The problem is that homeownership was sky-high already. Who are the marginal buyers? They are investors who demand deep discounts to make the properties cash flow positive, or new households. Real estate will suffer from demand for some time as the excesses are purged from the system over years, if not decades.

[briansd1]

[quote=sdrealtor]FWIW most of the distressed properties I see out there are not from the newbies they are from the renter class. Every city has a renter class. People who live paycheck to paycheck and who are best suited to renting. My maternal grandparents were part of that and never owned anything. The majority of what I see end up distressed is properties that were purchased by people in this category. WHen times got tough they saw they had nothing to lose. They were lifelong renters before and they could walk away and return to being renters in SD for the rest of their lives.
[/quote]

Interesting observations.

The Ownership Society was a complete fraud. The idea of offering exotic, sophisticated adjustable mortgages to the least educated buyers was bound for failure.

The problem is that homeownership was sky-high already. Who are the marginal buyers? They are investors who demand deep discounts to make the properties cash flow positive, or new households. Real estate will suffer from demand for some time as the excesses are purged from the system over years, if not decades.

[sdrealtor]

You would venture wrong which seems to be a recurring theme. They will recover enough to put about 30% down and still have a couple hundred thousand to upgrade what they bought. They provided me about 20 homes they saw online to express what they were looking for. We spent 2 full days seeing everything that was available both resale and new construction that would meet what they wanted. We narrowed it down to 7 and went back on day 3 to see those. They ultimately settled on a beautiful well built new home with a large lot and and very nice ocean view. They will close at a price between 300K and 1M less than others paid on the street. His commute to work will be about 5 minutes. I personally beleive they will very happy with what they got.

[sdrealtor]

You would venture wrong which seems to be a recurring theme. They will recover enough to put about 30% down and still have a couple hundred thousand to upgrade what they bought. They provided me about 20 homes they saw online to express what they were looking for. We spent 2 full days seeing everything that was available both resale and new construction that would meet what they wanted. We narrowed it down to 7 and went back on day 3 to see those. They ultimately settled on a beautiful well built new home with a large lot and and very nice ocean view. They will close at a price between 300K and 1M less than others paid on the street. His commute to work will be about 5 minutes. I personally beleive they will very happy with what they got.

[sdrealtor]

You would venture wrong which seems to be a recurring theme. They will recover enough to put about 30% down and still have a couple hundred thousand to upgrade what they bought. They provided me about 20 homes they saw online to express what they were looking for. We spent 2 full days seeing everything that was available both resale and new construction that would meet what they wanted. We narrowed it down to 7 and went back on day 3 to see those. They ultimately settled on a beautiful well built new home with a large lot and and very nice ocean view. They will close at a price between 300K and 1M less than others paid on the street. His commute to work will be about 5 minutes. I personally beleive they will very happy with what they got.

[sdrealtor]

You would venture wrong which seems to be a recurring theme. They will recover enough to put about 30% down and still have a couple hundred thousand to upgrade what they bought. They provided me about 20 homes they saw online to express what they were looking for. We spent 2 full days seeing everything that was available both resale and new construction that would meet what they wanted. We narrowed it down to 7 and went back on day 3 to see those. They ultimately settled on a beautiful well built new home with a large lot and and very nice ocean view. They will close at a price between 300K and 1M less than others paid on the street. His commute to work will be about 5 minutes. I personally beleive they will very happy with what they got.

[sdrealtor]

You would venture wrong which seems to be a recurring theme. They will recover enough to put about 30% down and still have a couple hundred thousand to upgrade what they bought. They provided me about 20 homes they saw online to express what they were looking for. We spent 2 full days seeing everything that was available both resale and new construction that would meet what they wanted. We narrowed it down to 7 and went back on day 3 to see those. They ultimately settled on a beautiful well built new home with a large lot and and very nice ocean view. They will close at a price between 300K and 1M less than others paid on the street. His commute to work will be about 5 minutes. I personally beleive they will very happy with what they got.

[bearishgurl]

[quote=sdrealtor]You would venture wrong which seems to be a recurring theme. They will recover enough to put about 30% down and still have a couple hundred thousand to upgrade what they bought. They provided me about 20 homes they saw online to express what they were looking for. We spent 2 full days seeing everything that was available both resale and new construction that would meet what they wanted. We narrowed it down to 7 and went back on day 3 to see those. They ultimately settled on a beautiful well built new home with a large lot and and very nice ocean view. They will close at a price between 300K and 1M less than others paid on the street. His commute to work will be about 5 minutes. I personally beleive they will very happy with what they got.[/quote]

I’m a little confused. TX property doesn’t appreciate that well. Did they build their house and all their outbuildings in TX themselves and did one of their families deed them the land to do so?? Or is the “recovery” you speak of from “other assets,” incl “family help.” Or did they own their property they recently sold in TX more than 20 years? Did they sell the rights to drilling leases with their land?? Something doesn’t add up here and no, I didn’t just fall off a turnip truck yesterday.

[bearishgurl]

[quote=sdrealtor]You would venture wrong which seems to be a recurring theme. They will recover enough to put about 30% down and still have a couple hundred thousand to upgrade what they bought. They provided me about 20 homes they saw online to express what they were looking for. We spent 2 full days seeing everything that was available both resale and new construction that would meet what they wanted. We narrowed it down to 7 and went back on day 3 to see those. They ultimately settled on a beautiful well built new home with a large lot and and very nice ocean view. They will close at a price between 300K and 1M less than others paid on the street. His commute to work will be about 5 minutes. I personally beleive they will very happy with what they got.[/quote]

I’m a little confused. TX property doesn’t appreciate that well. Did they build their house and all their outbuildings in TX themselves and did one of their families deed them the land to do so?? Or is the “recovery” you speak of from “other assets,” incl “family help.” Or did they own their property they recently sold in TX more than 20 years? Did they sell the rights to drilling leases with their land?? Something doesn’t add up here and no, I didn’t just fall off a turnip truck yesterday.

[bearishgurl]

[quote=sdrealtor]You would venture wrong which seems to be a recurring theme. They will recover enough to put about 30% down and still have a couple hundred thousand to upgrade what they bought. They provided me about 20 homes they saw online to express what they were looking for. We spent 2 full days seeing everything that was available both resale and new construction that would meet what they wanted. We narrowed it down to 7 and went back on day 3 to see those. They ultimately settled on a beautiful well built new home with a large lot and and very nice ocean view. They will close at a price between 300K and 1M less than others paid on the street. His commute to work will be about 5 minutes. I personally beleive they will very happy with what they got.[/quote]

I’m a little confused. TX property doesn’t appreciate that well. Did they build their house and all their outbuildings in TX themselves and did one of their families deed them the land to do so?? Or is the “recovery” you speak of from “other assets,” incl “family help.” Or did they own their property they recently sold in TX more than 20 years? Did they sell the rights to drilling leases with their land?? Something doesn’t add up here and no, I didn’t just fall off a turnip truck yesterday.

[bearishgurl]

[quote=sdrealtor]You would venture wrong which seems to be a recurring theme. They will recover enough to put about 30% down and still have a couple hundred thousand to upgrade what they bought. They provided me about 20 homes they saw online to express what they were looking for. We spent 2 full days seeing everything that was available both resale and new construction that would meet what they wanted. We narrowed it down to 7 and went back on day 3 to see those. They ultimately settled on a beautiful well built new home with a large lot and and very nice ocean view. They will close at a price between 300K and 1M less than others paid on the street. His commute to work will be about 5 minutes. I personally beleive they will very happy with what they got.[/quote]

I’m a little confused. TX property doesn’t appreciate that well. Did they build their house and all their outbuildings in TX themselves and did one of their families deed them the land to do so?? Or is the “recovery” you speak of from “other assets,” incl “family help.” Or did they own their property they recently sold in TX more than 20 years? Did they sell the rights to drilling leases with their land?? Something doesn’t add up here and no, I didn’t just fall off a turnip truck yesterday.

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