OT What is a knife cacther…

[92027_guy]

Hello All,

I wasn’t sure if this was OT but decided to error on the side of caution, as opposed to when I bought my house and did the exact opposite. Ha.

Anyway, reading through the forums it seems that the majority of times someone uses the term “knife catcher” it is somewhat condescending. As in the buyer is trying to gamble, game the system, and is greedy. Now I understand that the person using the adjective is implying that the price will continue to go down but in reality no one really knows what’s going to happen to that particular house in the future. Yes I hear all the predictions of doom, I’m a bit more upbeat as I have a skin in the game but I heard the same things when I moved here. “There’s NO WAY the average price of a house can go past x dollars” But it in fact did, so hindsight proved the prediction of the market’s pop as correct but not necessarily all the predictions of the timing.
My point is, isn’t everyone a “knife catcher?”
1. Those who didn’t buy during the run up because you believed the house’s price would eventually fall.
2. Those who did buy during the run up because you believed the prices would keep climbing.
3. Those who aren’t buying now because you believe “it’s not bottom”
4. Those who are buying now since prices have fallen so much.

After all a knife cuts both ways, right? And further, isn’t that exactly what you should be doing? Trying to buy at the right time in your life and when the house price is more likely to go up from there? You won’t always be right, but that is a personal decision to make. Thoughts welcome….

[(former)FormerSanDiegan]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

http://www.wisegeek.com/what-does-it-mean-to-catch-a-falling-knife.htm

[(former)FormerSanDiegan]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

http://www.wisegeek.com/what-does-it-mean-to-catch-a-falling-knife.htm

[(former)FormerSanDiegan]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

http://www.wisegeek.com/what-does-it-mean-to-catch-a-falling-knife.htm

[(former)FormerSanDiegan]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

http://www.wisegeek.com/what-does-it-mean-to-catch-a-falling-knife.htm

[(former)FormerSanDiegan]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

http://www.wisegeek.com/what-does-it-mean-to-catch-a-falling-knife.htm

[largemammal]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

That and the fact that knives don’t fall up.

[largemammal]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

That and the fact that knives don’t fall up.

[largemammal]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

That and the fact that knives don’t fall up.

[largemammal]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

That and the fact that knives don’t fall up.

[largemammal]

The term comes from an ages old stock market saw, “It is better to pick up the knife after it has hit the floor than to try to catch it while it is falling”

That and the fact that knives don’t fall up.

[temeculaguy]

We may not know exactly what is going to happen in the future but many of us study a variety of factors, data and history to get a vague idea. On these boards we discuss our vague ideas in search of more data and some clarity. Can anyone predict exactly, ni, can we get fairly close, YES.

Everyone is not a knife catcher, the term applies only to those buying in a falling market and buy too early. It has no applications in a rising market or at market peak. Market peak buyers are called “fb” or “fb’s” an abbreviation of f—ed buyer, and that is generally reserved for those who bought at peak with adjustable low or no down loans in the hopes of selling or refinancing when values went up, they can’t carry the fully amortized payment. Values went down, so now they are f—ed.

I also use the term “butterknife cathers” for those who have seen prices fall within affordability, perhaps they are paying pre 2003 prces and half price compared to peak. People with 20% down and fixed mortgages that they can afford with doc’d income. They are not risking near as much as those paying near peak and they are immune to further declines because their fundamentals don’t require appreciation. Those examples are only in the exurbs and some other areas. 92126 is still in knifecatcher territory.

[temeculaguy]

We may not know exactly what is going to happen in the future but many of us study a variety of factors, data and history to get a vague idea. On these boards we discuss our vague ideas in search of more data and some clarity. Can anyone predict exactly, ni, can we get fairly close, YES.

Everyone is not a knife catcher, the term applies only to those buying in a falling market and buy too early. It has no applications in a rising market or at market peak. Market peak buyers are called “fb” or “fb’s” an abbreviation of f—ed buyer, and that is generally reserved for those who bought at peak with adjustable low or no down loans in the hopes of selling or refinancing when values went up, they can’t carry the fully amortized payment. Values went down, so now they are f—ed.

I also use the term “butterknife cathers” for those who have seen prices fall within affordability, perhaps they are paying pre 2003 prces and half price compared to peak. People with 20% down and fixed mortgages that they can afford with doc’d income. They are not risking near as much as those paying near peak and they are immune to further declines because their fundamentals don’t require appreciation. Those examples are only in the exurbs and some other areas. 92126 is still in knifecatcher territory.

[temeculaguy]

We may not know exactly what is going to happen in the future but many of us study a variety of factors, data and history to get a vague idea. On these boards we discuss our vague ideas in search of more data and some clarity. Can anyone predict exactly, ni, can we get fairly close, YES.

Everyone is not a knife catcher, the term applies only to those buying in a falling market and buy too early. It has no applications in a rising market or at market peak. Market peak buyers are called “fb” or “fb’s” an abbreviation of f—ed buyer, and that is generally reserved for those who bought at peak with adjustable low or no down loans in the hopes of selling or refinancing when values went up, they can’t carry the fully amortized payment. Values went down, so now they are f—ed.

I also use the term “butterknife cathers” for those who have seen prices fall within affordability, perhaps they are paying pre 2003 prces and half price compared to peak. People with 20% down and fixed mortgages that they can afford with doc’d income. They are not risking near as much as those paying near peak and they are immune to further declines because their fundamentals don’t require appreciation. Those examples are only in the exurbs and some other areas. 92126 is still in knifecatcher territory.

[temeculaguy]

We may not know exactly what is going to happen in the future but many of us study a variety of factors, data and history to get a vague idea. On these boards we discuss our vague ideas in search of more data and some clarity. Can anyone predict exactly, ni, can we get fairly close, YES.

Everyone is not a knife catcher, the term applies only to those buying in a falling market and buy too early. It has no applications in a rising market or at market peak. Market peak buyers are called “fb” or “fb’s” an abbreviation of f—ed buyer, and that is generally reserved for those who bought at peak with adjustable low or no down loans in the hopes of selling or refinancing when values went up, they can’t carry the fully amortized payment. Values went down, so now they are f—ed.

I also use the term “butterknife cathers” for those who have seen prices fall within affordability, perhaps they are paying pre 2003 prces and half price compared to peak. People with 20% down and fixed mortgages that they can afford with doc’d income. They are not risking near as much as those paying near peak and they are immune to further declines because their fundamentals don’t require appreciation. Those examples are only in the exurbs and some other areas. 92126 is still in knifecatcher territory.

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