North park flips… relatistic prices?

[jpinpb]

[quote=sdrealtor]I never said you werent battling government intervention. To the contrary I was the one who predicted it all nearly 3 years ago on this site. Its all there in B&W in the archives. That is what you are battling not flippers. All this flipper talk is misguided anger.[/quote]

OMG – the flippers are picking up the other end of the stick here. Why couldn’t I have bought Beryl, for example. Please don’t make me list all the properties I could’ve bought, not to mention future ones I won’t be able to buy b/c flippers are helping to raise the price. I never said it was exclusively flippers, but they share in it, just as they did during the bubble.

[quote=garysears]
When I look up the prices flippers paid I just don’t want to buy a house for 270k that was bought for cash for 150k. I assume I could fix the house for much less myself.

Where are the 150k houses on the MLS? They do not exist. The government lending is putting money straight in the pockets of the speculative flippers. They are really a big beneficiary at the expense of the ultimate buyer. I know I focus on insane margins and it is probably true they have come down a lot. Minus the easy money, the speculative flippers would probably disappear. Legitimate rehabbers will always have a market.[/quote]

THANK YOU!

[quote=SD Realtor]Yes JP if you want me to admit that the flippers who probably represent less then 5% of total sales in the county are 100% responsible for providing price support. If that is what you honestly believe then fine you can believe it.[/quote]

I NEVER said the flippers are 100% responsible. Plenty of blame to go around. The flippers just play a part.

I think you and sdr are being a little overly defensive here.

[sdrealtor]

While SD R may have a reason to be defensive I have none.

Why couldnt you have bought Beryl? Actually you could have bought it. it was auctioned on the courthouse steps with a minimum bid of $450,000 and there were no takers. You could have paid that and it would have been a great deal.

It was listed at $418K which is an insanely low price in this market. It sold in 2002 for 480K which is almost 20% more than that. There have been 2 closed sales under 600K in that area (480K and 515K) and both had 3,000 sq ft lots while this one had a 6800 sq ft lot. It must have been a nornet’s nest of activity on that one. As DLJ pointed out on another thread there is tons of DEMAND at the right price. That was at the right price and you were one tiny voice in huge mosh pit of buyer activity.

[sdrealtor]

While SD R may have a reason to be defensive I have none.

Why couldnt you have bought Beryl? Actually you could have bought it. it was auctioned on the courthouse steps with a minimum bid of $450,000 and there were no takers. You could have paid that and it would have been a great deal.

It was listed at $418K which is an insanely low price in this market. It sold in 2002 for 480K which is almost 20% more than that. There have been 2 closed sales under 600K in that area (480K and 515K) and both had 3,000 sq ft lots while this one had a 6800 sq ft lot. It must have been a nornet’s nest of activity on that one. As DLJ pointed out on another thread there is tons of DEMAND at the right price. That was at the right price and you were one tiny voice in huge mosh pit of buyer activity.

[sdrealtor]

While SD R may have a reason to be defensive I have none.

Why couldnt you have bought Beryl? Actually you could have bought it. it was auctioned on the courthouse steps with a minimum bid of $450,000 and there were no takers. You could have paid that and it would have been a great deal.

It was listed at $418K which is an insanely low price in this market. It sold in 2002 for 480K which is almost 20% more than that. There have been 2 closed sales under 600K in that area (480K and 515K) and both had 3,000 sq ft lots while this one had a 6800 sq ft lot. It must have been a nornet’s nest of activity on that one. As DLJ pointed out on another thread there is tons of DEMAND at the right price. That was at the right price and you were one tiny voice in huge mosh pit of buyer activity.

[sdrealtor]

While SD R may have a reason to be defensive I have none.

Why couldnt you have bought Beryl? Actually you could have bought it. it was auctioned on the courthouse steps with a minimum bid of $450,000 and there were no takers. You could have paid that and it would have been a great deal.

It was listed at $418K which is an insanely low price in this market. It sold in 2002 for 480K which is almost 20% more than that. There have been 2 closed sales under 600K in that area (480K and 515K) and both had 3,000 sq ft lots while this one had a 6800 sq ft lot. It must have been a nornet’s nest of activity on that one. As DLJ pointed out on another thread there is tons of DEMAND at the right price. That was at the right price and you were one tiny voice in huge mosh pit of buyer activity.

[sdrealtor]

While SD R may have a reason to be defensive I have none.

Why couldnt you have bought Beryl? Actually you could have bought it. it was auctioned on the courthouse steps with a minimum bid of $450,000 and there were no takers. You could have paid that and it would have been a great deal.

It was listed at $418K which is an insanely low price in this market. It sold in 2002 for 480K which is almost 20% more than that. There have been 2 closed sales under 600K in that area (480K and 515K) and both had 3,000 sq ft lots while this one had a 6800 sq ft lot. It must have been a nornet’s nest of activity on that one. As DLJ pointed out on another thread there is tons of DEMAND at the right price. That was at the right price and you were one tiny voice in huge mosh pit of buyer activity.

[jpinpb]

sdr – I’m pretty confident that Beryl is being sold to an investor/flipper. End of that story.

[jpinpb]

sdr – I’m pretty confident that Beryl is being sold to an investor/flipper. End of that story.

[jpinpb]

sdr – I’m pretty confident that Beryl is being sold to an investor/flipper. End of that story.

[jpinpb]

sdr – I’m pretty confident that Beryl is being sold to an investor/flipper. End of that story.

[jpinpb]

sdr – I’m pretty confident that Beryl is being sold to an investor/flipper. End of that story.

[sdrealtor]

But you had your chance so you could have bought it. An investor buyer wouldnt surprise me. The bank might have taken a lower all cash offer instead of a financed and even FHA offer. Isnt that what you are proposing to use?

A 6800 sq ft lot might be splitable and building two homes on it could be the highest and best use of the property. Of course its not the end of the story until the story ends.

[sdrealtor]

But you had your chance so you could have bought it. An investor buyer wouldnt surprise me. The bank might have taken a lower all cash offer instead of a financed and even FHA offer. Isnt that what you are proposing to use?

A 6800 sq ft lot might be splitable and building two homes on it could be the highest and best use of the property. Of course its not the end of the story until the story ends.

[sdrealtor]

But you had your chance so you could have bought it. An investor buyer wouldnt surprise me. The bank might have taken a lower all cash offer instead of a financed and even FHA offer. Isnt that what you are proposing to use?

A 6800 sq ft lot might be splitable and building two homes on it could be the highest and best use of the property. Of course its not the end of the story until the story ends.

[sdrealtor]

But you had your chance so you could have bought it. An investor buyer wouldnt surprise me. The bank might have taken a lower all cash offer instead of a financed and even FHA offer. Isnt that what you are proposing to use?

A 6800 sq ft lot might be splitable and building two homes on it could be the highest and best use of the property. Of course its not the end of the story until the story ends.

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