Margin for error?

[NotCranky]

What would you consider a comfortable best guess margin of error for your owner occupied purchase? What are some of the thoughts that determine what is an acceptable margin of error.

Lots of piggs have purchased homes and must have known pretty well they were not getting an absolute price bottom? I think aiming for the bottom is great, nothing wrong with waiting. I have had clients say they are comfortable with somewhat probable 15-20% miss if other factors worked for them.This came up on the upward bubble trajectory when I started to get suspicious of the heights to which prices had risen and with the first house I sold post crash.

[Bob]

This is a tricky question, but if its an owner occupied property that I planned on living in for a number of years, and we are dealing in the current market, I probably would wait it out until fall…or at least until I get a better idea of what Bernanke plans on doing with interest rates. LOL

Having said that, in the price range I’d be looking at for an owner occupied, I wouldn’t want to make a bad guess and miss by more than 10%-15%. In this environment, I feel safe to say I won’t.

[Bob]

This is a tricky question, but if its an owner occupied property that I planned on living in for a number of years, and we are dealing in the current market, I probably would wait it out until fall…or at least until I get a better idea of what Bernanke plans on doing with interest rates. LOL

Having said that, in the price range I’d be looking at for an owner occupied, I wouldn’t want to make a bad guess and miss by more than 10%-15%. In this environment, I feel safe to say I won’t.

[Bob]

This is a tricky question, but if its an owner occupied property that I planned on living in for a number of years, and we are dealing in the current market, I probably would wait it out until fall…or at least until I get a better idea of what Bernanke plans on doing with interest rates. LOL

Having said that, in the price range I’d be looking at for an owner occupied, I wouldn’t want to make a bad guess and miss by more than 10%-15%. In this environment, I feel safe to say I won’t.

[Bob]

This is a tricky question, but if its an owner occupied property that I planned on living in for a number of years, and we are dealing in the current market, I probably would wait it out until fall…or at least until I get a better idea of what Bernanke plans on doing with interest rates. LOL

Having said that, in the price range I’d be looking at for an owner occupied, I wouldn’t want to make a bad guess and miss by more than 10%-15%. In this environment, I feel safe to say I won’t.

[Bob]

This is a tricky question, but if its an owner occupied property that I planned on living in for a number of years, and we are dealing in the current market, I probably would wait it out until fall…or at least until I get a better idea of what Bernanke plans on doing with interest rates. LOL

Having said that, in the price range I’d be looking at for an owner occupied, I wouldn’t want to make a bad guess and miss by more than 10%-15%. In this environment, I feel safe to say I won’t.

[briansd1]

Interesting question considering that in the consumer goods market, any drop in price would have the buyers back to the store asking for a refund.

Considering all the posts about electronics and cars, Piggs are the types who want the very best deals.

FLU is a funny guy. He’s resigned himself to having overpaid for his house; but he seems like a guy who would shop and shop before buying his new HDTV, car, carpet, hiring a baby-sitter, or whatever.

Me, I’d rather get a great price on a house so that I can feel generous and give a nice tip to my baby sitter at Christmas.

I have ambitions to buy at the bottom when houses sit and sit. In previous bottoms, houses would sit and sellers had to provide special financing to get houses selling.

A bottom is NOT a time when buyers bid against each other.

[briansd1]

Interesting question considering that in the consumer goods market, any drop in price would have the buyers back to the store asking for a refund.

Considering all the posts about electronics and cars, Piggs are the types who want the very best deals.

FLU is a funny guy. He’s resigned himself to having overpaid for his house; but he seems like a guy who would shop and shop before buying his new HDTV, car, carpet, hiring a baby-sitter, or whatever.

Me, I’d rather get a great price on a house so that I can feel generous and give a nice tip to my baby sitter at Christmas.

I have ambitions to buy at the bottom when houses sit and sit. In previous bottoms, houses would sit and sellers had to provide special financing to get houses selling.

A bottom is NOT a time when buyers bid against each other.

[briansd1]

Interesting question considering that in the consumer goods market, any drop in price would have the buyers back to the store asking for a refund.

Considering all the posts about electronics and cars, Piggs are the types who want the very best deals.

FLU is a funny guy. He’s resigned himself to having overpaid for his house; but he seems like a guy who would shop and shop before buying his new HDTV, car, carpet, hiring a baby-sitter, or whatever.

Me, I’d rather get a great price on a house so that I can feel generous and give a nice tip to my baby sitter at Christmas.

I have ambitions to buy at the bottom when houses sit and sit. In previous bottoms, houses would sit and sellers had to provide special financing to get houses selling.

A bottom is NOT a time when buyers bid against each other.

[briansd1]

Interesting question considering that in the consumer goods market, any drop in price would have the buyers back to the store asking for a refund.

Considering all the posts about electronics and cars, Piggs are the types who want the very best deals.

FLU is a funny guy. He’s resigned himself to having overpaid for his house; but he seems like a guy who would shop and shop before buying his new HDTV, car, carpet, hiring a baby-sitter, or whatever.

Me, I’d rather get a great price on a house so that I can feel generous and give a nice tip to my baby sitter at Christmas.

I have ambitions to buy at the bottom when houses sit and sit. In previous bottoms, houses would sit and sellers had to provide special financing to get houses selling.

A bottom is NOT a time when buyers bid against each other.

[briansd1]

Interesting question considering that in the consumer goods market, any drop in price would have the buyers back to the store asking for a refund.

Considering all the posts about electronics and cars, Piggs are the types who want the very best deals.

FLU is a funny guy. He’s resigned himself to having overpaid for his house; but he seems like a guy who would shop and shop before buying his new HDTV, car, carpet, hiring a baby-sitter, or whatever.

Me, I’d rather get a great price on a house so that I can feel generous and give a nice tip to my baby sitter at Christmas.

I have ambitions to buy at the bottom when houses sit and sit. In previous bottoms, houses would sit and sellers had to provide special financing to get houses selling.

A bottom is NOT a time when buyers bid against each other.

[Bob]

[quote=briansd1]A bottom is NOT a time when buyers bid against each other.[/quote]

You know, thats the best statement I’ve read yet. And its a very important point that the Feds don’t understand…at least with respect to the Southern California market. While some areas of the country, ie, Arizona, Michigan, South Florida, probably could use government assistance to get property moving, here in Southern California there wasn’t a need for such assistance. As I’ve stated in another thread, even when supply far outpaced demand in TV, the good properties sold, often times only days after being listed. The reason ? Prices are once again reasonable.

[Bob]

[quote=briansd1]A bottom is NOT a time when buyers bid against each other.[/quote]

You know, thats the best statement I’ve read yet. And its a very important point that the Feds don’t understand…at least with respect to the Southern California market. While some areas of the country, ie, Arizona, Michigan, South Florida, probably could use government assistance to get property moving, here in Southern California there wasn’t a need for such assistance. As I’ve stated in another thread, even when supply far outpaced demand in TV, the good properties sold, often times only days after being listed. The reason ? Prices are once again reasonable.

[Bob]

[quote=briansd1]A bottom is NOT a time when buyers bid against each other.[/quote]

You know, thats the best statement I’ve read yet. And its a very important point that the Feds don’t understand…at least with respect to the Southern California market. While some areas of the country, ie, Arizona, Michigan, South Florida, probably could use government assistance to get property moving, here in Southern California there wasn’t a need for such assistance. As I’ve stated in another thread, even when supply far outpaced demand in TV, the good properties sold, often times only days after being listed. The reason ? Prices are once again reasonable.

[Bob]

[quote=briansd1]A bottom is NOT a time when buyers bid against each other.[/quote]

You know, thats the best statement I’ve read yet. And its a very important point that the Feds don’t understand…at least with respect to the Southern California market. While some areas of the country, ie, Arizona, Michigan, South Florida, probably could use government assistance to get property moving, here in Southern California there wasn’t a need for such assistance. As I’ve stated in another thread, even when supply far outpaced demand in TV, the good properties sold, often times only days after being listed. The reason ? Prices are once again reasonable.

[Author]

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