North park flips… relatistic prices?

[meadandale]

[quote=pemeliza]
So maybe there is a 10-15% premium right now for north mission hills. Personally I would pay that premium and get a fixer. You can always fix the house.[/quote]

You can’t fix square footage. And I’m not about to pay north of a half million for an outdated house that requires north of $50k in ‘fixing’.

[jpinpb]

[quote=sdrealtor]CAR
Got a challenge for ya. From your posts it sounds like you are a frustrated buyer losing dozens of houses to flippers. Can you please post the addresses of 3 houses that you lost to flippers that you would have bought? You can also include REO and Short Sales listed contingent or pending as long as you you would have paid the fair market value and not the undermarket sale price an unscrupulous agent might have slipped it through at.

I havent seen any that I think you would have bought and am curious if this is based on real experiences or conjured up due to frustration.[/quote]

sdr – does it matter if it’s a particular property CAR would have bought? If the flipper is flipping for a higher price, then it brings the comps up, perhaps reducing her ability to purchase something at a reasonable lower price.

If a POS place sells higher, then the nicer ones will understandably sell even higher.

[jpinpb]

[quote=sdrealtor]CAR
Got a challenge for ya. From your posts it sounds like you are a frustrated buyer losing dozens of houses to flippers. Can you please post the addresses of 3 houses that you lost to flippers that you would have bought? You can also include REO and Short Sales listed contingent or pending as long as you you would have paid the fair market value and not the undermarket sale price an unscrupulous agent might have slipped it through at.

I havent seen any that I think you would have bought and am curious if this is based on real experiences or conjured up due to frustration.[/quote]

sdr – does it matter if it’s a particular property CAR would have bought? If the flipper is flipping for a higher price, then it brings the comps up, perhaps reducing her ability to purchase something at a reasonable lower price.

If a POS place sells higher, then the nicer ones will understandably sell even higher.

[jpinpb]

[quote=sdrealtor]CAR
Got a challenge for ya. From your posts it sounds like you are a frustrated buyer losing dozens of houses to flippers. Can you please post the addresses of 3 houses that you lost to flippers that you would have bought? You can also include REO and Short Sales listed contingent or pending as long as you you would have paid the fair market value and not the undermarket sale price an unscrupulous agent might have slipped it through at.

I havent seen any that I think you would have bought and am curious if this is based on real experiences or conjured up due to frustration.[/quote]

sdr – does it matter if it’s a particular property CAR would have bought? If the flipper is flipping for a higher price, then it brings the comps up, perhaps reducing her ability to purchase something at a reasonable lower price.

If a POS place sells higher, then the nicer ones will understandably sell even higher.

[jpinpb]

[quote=sdrealtor]CAR
Got a challenge for ya. From your posts it sounds like you are a frustrated buyer losing dozens of houses to flippers. Can you please post the addresses of 3 houses that you lost to flippers that you would have bought? You can also include REO and Short Sales listed contingent or pending as long as you you would have paid the fair market value and not the undermarket sale price an unscrupulous agent might have slipped it through at.

I havent seen any that I think you would have bought and am curious if this is based on real experiences or conjured up due to frustration.[/quote]

sdr – does it matter if it’s a particular property CAR would have bought? If the flipper is flipping for a higher price, then it brings the comps up, perhaps reducing her ability to purchase something at a reasonable lower price.

If a POS place sells higher, then the nicer ones will understandably sell even higher.

[jpinpb]

[quote=sdrealtor]CAR
Got a challenge for ya. From your posts it sounds like you are a frustrated buyer losing dozens of houses to flippers. Can you please post the addresses of 3 houses that you lost to flippers that you would have bought? You can also include REO and Short Sales listed contingent or pending as long as you you would have paid the fair market value and not the undermarket sale price an unscrupulous agent might have slipped it through at.

I havent seen any that I think you would have bought and am curious if this is based on real experiences or conjured up due to frustration.[/quote]

sdr – does it matter if it’s a particular property CAR would have bought? If the flipper is flipping for a higher price, then it brings the comps up, perhaps reducing her ability to purchase something at a reasonable lower price.

If a POS place sells higher, then the nicer ones will understandably sell even higher.

[sdrealtor]

It makes all the difference in the world. I’m just curious as to whether a “nicer one” she would have bought was on the market that she would have bought at anything approximately current values. The comps arent moving much of anywhere around here in ther areas she is looking. If anything, they are going down.

[sdrealtor]

It makes all the difference in the world. I’m just curious as to whether a “nicer one” she would have bought was on the market that she would have bought at anything approximately current values. The comps arent moving much of anywhere around here in ther areas she is looking. If anything, they are going down.

[sdrealtor]

It makes all the difference in the world. I’m just curious as to whether a “nicer one” she would have bought was on the market that she would have bought at anything approximately current values. The comps arent moving much of anywhere around here in ther areas she is looking. If anything, they are going down.

[sdrealtor]

It makes all the difference in the world. I’m just curious as to whether a “nicer one” she would have bought was on the market that she would have bought at anything approximately current values. The comps arent moving much of anywhere around here in ther areas she is looking. If anything, they are going down.

[sdrealtor]

It makes all the difference in the world. I’m just curious as to whether a “nicer one” she would have bought was on the market that she would have bought at anything approximately current values. The comps arent moving much of anywhere around here in ther areas she is looking. If anything, they are going down.

[SD Realtor]

Andy what is happening is that the number of homes that do NOT make it to the actual auction has risen. When we started seriously attending and purchasing homes about 13 months ago the number of homes that actually made it to the auction and were available for bidding was about twice the number that we see nowadays. Now dont get me wrong, back then there would still be 350 properties scheduled on a given day and maybe 40 of them would get to actual bidding. The rest would be postponed. Now instead of 40 you see 20 for the same amount. I have also tracked homes where the trustee sale was cancelled but the home was never for sale (at least not on the MLS).

Understanding the end game is quite easy. The banks are doing what they are mandated to do. They will be backstopped by the govt. That was played out awhile ago. Rich posted ahwile back about shades of shadow inventory. In the end it doesn’t matter because it is about buying time. Look, if you abstract the problem it is not really any different then unfunded entitlements right? Housing stock, medicare, social security… there is not really any solution in place to deal with the underlying problem, just measures to pus the problem out of the spotlight of the present.

[SD Realtor]

Andy what is happening is that the number of homes that do NOT make it to the actual auction has risen. When we started seriously attending and purchasing homes about 13 months ago the number of homes that actually made it to the auction and were available for bidding was about twice the number that we see nowadays. Now dont get me wrong, back then there would still be 350 properties scheduled on a given day and maybe 40 of them would get to actual bidding. The rest would be postponed. Now instead of 40 you see 20 for the same amount. I have also tracked homes where the trustee sale was cancelled but the home was never for sale (at least not on the MLS).

Understanding the end game is quite easy. The banks are doing what they are mandated to do. They will be backstopped by the govt. That was played out awhile ago. Rich posted ahwile back about shades of shadow inventory. In the end it doesn’t matter because it is about buying time. Look, if you abstract the problem it is not really any different then unfunded entitlements right? Housing stock, medicare, social security… there is not really any solution in place to deal with the underlying problem, just measures to pus the problem out of the spotlight of the present.

[SD Realtor]

Andy what is happening is that the number of homes that do NOT make it to the actual auction has risen. When we started seriously attending and purchasing homes about 13 months ago the number of homes that actually made it to the auction and were available for bidding was about twice the number that we see nowadays. Now dont get me wrong, back then there would still be 350 properties scheduled on a given day and maybe 40 of them would get to actual bidding. The rest would be postponed. Now instead of 40 you see 20 for the same amount. I have also tracked homes where the trustee sale was cancelled but the home was never for sale (at least not on the MLS).

Understanding the end game is quite easy. The banks are doing what they are mandated to do. They will be backstopped by the govt. That was played out awhile ago. Rich posted ahwile back about shades of shadow inventory. In the end it doesn’t matter because it is about buying time. Look, if you abstract the problem it is not really any different then unfunded entitlements right? Housing stock, medicare, social security… there is not really any solution in place to deal with the underlying problem, just measures to pus the problem out of the spotlight of the present.

[SD Realtor]

Andy what is happening is that the number of homes that do NOT make it to the actual auction has risen. When we started seriously attending and purchasing homes about 13 months ago the number of homes that actually made it to the auction and were available for bidding was about twice the number that we see nowadays. Now dont get me wrong, back then there would still be 350 properties scheduled on a given day and maybe 40 of them would get to actual bidding. The rest would be postponed. Now instead of 40 you see 20 for the same amount. I have also tracked homes where the trustee sale was cancelled but the home was never for sale (at least not on the MLS).

Understanding the end game is quite easy. The banks are doing what they are mandated to do. They will be backstopped by the govt. That was played out awhile ago. Rich posted ahwile back about shades of shadow inventory. In the end it doesn’t matter because it is about buying time. Look, if you abstract the problem it is not really any different then unfunded entitlements right? Housing stock, medicare, social security… there is not really any solution in place to deal with the underlying problem, just measures to pus the problem out of the spotlight of the present.

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