Is it just me?

[SD Realtor]

jp the biggest problem is indeed and then what. These investors can do whatever they want. They are not under the same pressures that lenders are under. They do not have the same accounting requirements as institutions. Don’t you see? It is a free for all, the investors have hardly any skin in the game at all. I forgot the amount of money the investors have to bring to the table but it is ridiculous.

That is the big problem. With the institutions holding all these bad assets the credit market clogs up. Now once these books are relieved, the credit markets open up. Is the crap still out there? Yes of course. Does the government care what happens to it? Maybe but before that investor made the purchase they made damn sure that they would not lose money no matter how it turns out.

So yeah logically one would think, well it would be stupid for these investors not to dump all the properties on the market wouldn’t it? Well yeah and maybe no. Look say some investor is gonna purchase 100B of crap from Citi… Do they put up 100B? No way. They put up a small fraction of that. Do they need to dump all the properties? Probably not. Whose to say that there are not some backroom deals in place so that maybe an investor is incentivized to NOT DUMP them all at once.

I don’t know. Doesn’t the whole thing seem kind of… rigged to you? It does to me. I sincerely hope we see them all come flooding into the market. Just not so sure we will. There are a hell of alot of them out there though.

[Arraya]

[quote=jpinpb]PR – I understand investors will “buy” overinflated houses from banks. Then what?[/quote]

Default on their non-recourse loan and laugh all the way to the bank that they bought everything @ 7 cents on the dollar, helped make the criminals whole and dumped dollars into something with intrinsic value. Or as some like to say “help bring stability and confidence back into the market. haha

I bet the Goldman Sach’s crew will make out pretty well.

[Arraya]

[quote=jpinpb]PR – I understand investors will “buy” overinflated houses from banks. Then what?[/quote]

Default on their non-recourse loan and laugh all the way to the bank that they bought everything @ 7 cents on the dollar, helped make the criminals whole and dumped dollars into something with intrinsic value. Or as some like to say “help bring stability and confidence back into the market. haha

I bet the Goldman Sach’s crew will make out pretty well.

[Arraya]

[quote=jpinpb]PR – I understand investors will “buy” overinflated houses from banks. Then what?[/quote]

Default on their non-recourse loan and laugh all the way to the bank that they bought everything @ 7 cents on the dollar, helped make the criminals whole and dumped dollars into something with intrinsic value. Or as some like to say “help bring stability and confidence back into the market. haha

I bet the Goldman Sach’s crew will make out pretty well.

[Arraya]

[quote=jpinpb]PR – I understand investors will “buy” overinflated houses from banks. Then what?[/quote]

Default on their non-recourse loan and laugh all the way to the bank that they bought everything @ 7 cents on the dollar, helped make the criminals whole and dumped dollars into something with intrinsic value. Or as some like to say “help bring stability and confidence back into the market. haha

I bet the Goldman Sach’s crew will make out pretty well.

[Arraya]

[quote=jpinpb]PR – I understand investors will “buy” overinflated houses from banks. Then what?[/quote]

Default on their non-recourse loan and laugh all the way to the bank that they bought everything @ 7 cents on the dollar, helped make the criminals whole and dumped dollars into something with intrinsic value. Or as some like to say “help bring stability and confidence back into the market. haha

I bet the Goldman Sach’s crew will make out pretty well.

[jpinpb]

Well, that’s what I’m thinking. They’ll keep what makes sense, either rent or re-work some loans, but let the ones that don’t make sense just go to market for whatever, b/c no skin off them, really. Basically, just delaying again. Seems all they can do is continue to sweep under the rug. I don’t know how long they can procrastinate. I mean, forever. That’s a lot of houses to just twist in the wind forever.

[jpinpb]

Well, that’s what I’m thinking. They’ll keep what makes sense, either rent or re-work some loans, but let the ones that don’t make sense just go to market for whatever, b/c no skin off them, really. Basically, just delaying again. Seems all they can do is continue to sweep under the rug. I don’t know how long they can procrastinate. I mean, forever. That’s a lot of houses to just twist in the wind forever.

[jpinpb]

Well, that’s what I’m thinking. They’ll keep what makes sense, either rent or re-work some loans, but let the ones that don’t make sense just go to market for whatever, b/c no skin off them, really. Basically, just delaying again. Seems all they can do is continue to sweep under the rug. I don’t know how long they can procrastinate. I mean, forever. That’s a lot of houses to just twist in the wind forever.

[jpinpb]

Well, that’s what I’m thinking. They’ll keep what makes sense, either rent or re-work some loans, but let the ones that don’t make sense just go to market for whatever, b/c no skin off them, really. Basically, just delaying again. Seems all they can do is continue to sweep under the rug. I don’t know how long they can procrastinate. I mean, forever. That’s a lot of houses to just twist in the wind forever.

[jpinpb]

Well, that’s what I’m thinking. They’ll keep what makes sense, either rent or re-work some loans, but let the ones that don’t make sense just go to market for whatever, b/c no skin off them, really. Basically, just delaying again. Seems all they can do is continue to sweep under the rug. I don’t know how long they can procrastinate. I mean, forever. That’s a lot of houses to just twist in the wind forever.

[ucodegen]

uco post the address of the home and I can tell you what has gone on with it. Also just because it is 30% off from peak doesn’t mean it is priced well.

I don’t think it is priced well.. I think they need to take at least another $50k off. I also can’t give you addr because I live very close.. It could reveal who I am to neighbors. I do know that sales are going in on houses that are priced slightly below comps.. resulting in quick bidding wars which move the price up to equal or above recent comps. Whether these bidding wars result in a properly priced house can be debatable. Bidding wars are driven by emotion and while they result in the seller getting as much money for the property as possible, they don’t result in the best price for the buyer.

Also don’t confuse price or how far down a place is with a hot market. What I mean by a hot market is that there is alot of activity.

This, I disagree with. I consider it an active market but not a hot market. I don’t think that people selling their house and having to take a serious hair cut would consider it hot market either.

[ucodegen]

uco post the address of the home and I can tell you what has gone on with it. Also just because it is 30% off from peak doesn’t mean it is priced well.

I don’t think it is priced well.. I think they need to take at least another $50k off. I also can’t give you addr because I live very close.. It could reveal who I am to neighbors. I do know that sales are going in on houses that are priced slightly below comps.. resulting in quick bidding wars which move the price up to equal or above recent comps. Whether these bidding wars result in a properly priced house can be debatable. Bidding wars are driven by emotion and while they result in the seller getting as much money for the property as possible, they don’t result in the best price for the buyer.

Also don’t confuse price or how far down a place is with a hot market. What I mean by a hot market is that there is alot of activity.

This, I disagree with. I consider it an active market but not a hot market. I don’t think that people selling their house and having to take a serious hair cut would consider it hot market either.

[ucodegen]

uco post the address of the home and I can tell you what has gone on with it. Also just because it is 30% off from peak doesn’t mean it is priced well.

I don’t think it is priced well.. I think they need to take at least another $50k off. I also can’t give you addr because I live very close.. It could reveal who I am to neighbors. I do know that sales are going in on houses that are priced slightly below comps.. resulting in quick bidding wars which move the price up to equal or above recent comps. Whether these bidding wars result in a properly priced house can be debatable. Bidding wars are driven by emotion and while they result in the seller getting as much money for the property as possible, they don’t result in the best price for the buyer.

Also don’t confuse price or how far down a place is with a hot market. What I mean by a hot market is that there is alot of activity.

This, I disagree with. I consider it an active market but not a hot market. I don’t think that people selling their house and having to take a serious hair cut would consider it hot market either.

[ucodegen]

uco post the address of the home and I can tell you what has gone on with it. Also just because it is 30% off from peak doesn’t mean it is priced well.

I don’t think it is priced well.. I think they need to take at least another $50k off. I also can’t give you addr because I live very close.. It could reveal who I am to neighbors. I do know that sales are going in on houses that are priced slightly below comps.. resulting in quick bidding wars which move the price up to equal or above recent comps. Whether these bidding wars result in a properly priced house can be debatable. Bidding wars are driven by emotion and while they result in the seller getting as much money for the property as possible, they don’t result in the best price for the buyer.

Also don’t confuse price or how far down a place is with a hot market. What I mean by a hot market is that there is alot of activity.

This, I disagree with. I consider it an active market but not a hot market. I don’t think that people selling their house and having to take a serious hair cut would consider it hot market either.

[Author]

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