Proposal to get prices to come down faster

[TheBreeze]

What do you guys think about the following proposal? A group of us gets together and buys a house in a nice neighborhood. Hopefully, we wouldn’t have to overpay too much. Then, a few months later, we turn around and list the house for 40% of what we bought it for. However, instead of accepting offers or even considering them, we just reject all the offers outright.

If all goes as planned, appraisers will start using our 40%-off listing in their comps and no one would be able to get a loan for anywhere near what the other sellers are asking. Sellers would be forced to come down in price if they want to have any chance at selling. Piggs could then swoop in and start picking off the deeply discounted homes.

Is this plan genius or what? It’s similar to the fraud that was taking place on the way up, but instead of defrauding banks into giving us money, we would merely be helping new buyers get into homes. We could call ourselves the Robin Hood Investment Group cause we would be taking from the greedy and stupid and giving to the smart and deserving.

Who’s with me?

[kewp]

I have a better idea, buy non-performing assets in all neighborhoods for 20 cents on the dollar and immediately flip them for 40% of the comps.

Will bring prices down quick and double our money!

Now who here has a few million bucks for us to get started?

[kewp]

I have a better idea, buy non-performing assets in all neighborhoods for 20 cents on the dollar and immediately flip them for 40% of the comps.

Will bring prices down quick and double our money!

Now who here has a few million bucks for us to get started?

[kewp]

I have a better idea, buy non-performing assets in all neighborhoods for 20 cents on the dollar and immediately flip them for 40% of the comps.

Will bring prices down quick and double our money!

Now who here has a few million bucks for us to get started?

[kewp]

I have a better idea, buy non-performing assets in all neighborhoods for 20 cents on the dollar and immediately flip them for 40% of the comps.

Will bring prices down quick and double our money!

Now who here has a few million bucks for us to get started?

[kewp]

I have a better idea, buy non-performing assets in all neighborhoods for 20 cents on the dollar and immediately flip them for 40% of the comps.

Will bring prices down quick and double our money!

Now who here has a few million bucks for us to get started?

[jpinpb]

The only problem I can see is what’s going to happen to the initial house purchased w/collected funds at peak. I understand your plan. If it works, it would rapidly bring down the comps, but then also the house you initially purchase will be worth considerably less as well. We will have to get a sacrificial lamb to suffer credit injury and just walk away. Otherwise, I like the idea.

[jpinpb]

The only problem I can see is what’s going to happen to the initial house purchased w/collected funds at peak. I understand your plan. If it works, it would rapidly bring down the comps, but then also the house you initially purchase will be worth considerably less as well. We will have to get a sacrificial lamb to suffer credit injury and just walk away. Otherwise, I like the idea.

[jpinpb]

The only problem I can see is what’s going to happen to the initial house purchased w/collected funds at peak. I understand your plan. If it works, it would rapidly bring down the comps, but then also the house you initially purchase will be worth considerably less as well. We will have to get a sacrificial lamb to suffer credit injury and just walk away. Otherwise, I like the idea.

[jpinpb]

The only problem I can see is what’s going to happen to the initial house purchased w/collected funds at peak. I understand your plan. If it works, it would rapidly bring down the comps, but then also the house you initially purchase will be worth considerably less as well. We will have to get a sacrificial lamb to suffer credit injury and just walk away. Otherwise, I like the idea.

[jpinpb]

The only problem I can see is what’s going to happen to the initial house purchased w/collected funds at peak. I understand your plan. If it works, it would rapidly bring down the comps, but then also the house you initially purchase will be worth considerably less as well. We will have to get a sacrificial lamb to suffer credit injury and just walk away. Otherwise, I like the idea.

[5yearwaiter]

I like the TheBreeze’s way of approach- may be atleast I appreciate the attempts making towards something to happen or switch to prices to comedown. However if you think the way things happening are, already people who are unable to make payments they are simply foreclosing but not even trying to lose by selling in this market. During foreclosure process itself one can take advantage of 6 months payments. If any one don’t want to sell houses they don’t care our this price comedown path- they hold it as long as they can live and pay.

TheBreeze please keep thinking on 4closure properties how their Lender’s to realize comedown prices, you may still hit somemore better thoughts.

5yearswaiter

[5yearwaiter]

I like the TheBreeze’s way of approach- may be atleast I appreciate the attempts making towards something to happen or switch to prices to comedown. However if you think the way things happening are, already people who are unable to make payments they are simply foreclosing but not even trying to lose by selling in this market. During foreclosure process itself one can take advantage of 6 months payments. If any one don’t want to sell houses they don’t care our this price comedown path- they hold it as long as they can live and pay.

TheBreeze please keep thinking on 4closure properties how their Lender’s to realize comedown prices, you may still hit somemore better thoughts.

5yearswaiter

[5yearwaiter]

I like the TheBreeze’s way of approach- may be atleast I appreciate the attempts making towards something to happen or switch to prices to comedown. However if you think the way things happening are, already people who are unable to make payments they are simply foreclosing but not even trying to lose by selling in this market. During foreclosure process itself one can take advantage of 6 months payments. If any one don’t want to sell houses they don’t care our this price comedown path- they hold it as long as they can live and pay.

TheBreeze please keep thinking on 4closure properties how their Lender’s to realize comedown prices, you may still hit somemore better thoughts.

5yearswaiter

[5yearwaiter]

I like the TheBreeze’s way of approach- may be atleast I appreciate the attempts making towards something to happen or switch to prices to comedown. However if you think the way things happening are, already people who are unable to make payments they are simply foreclosing but not even trying to lose by selling in this market. During foreclosure process itself one can take advantage of 6 months payments. If any one don’t want to sell houses they don’t care our this price comedown path- they hold it as long as they can live and pay.

TheBreeze please keep thinking on 4closure properties how their Lender’s to realize comedown prices, you may still hit somemore better thoughts.

5yearswaiter

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