Home › Forums › Closed Forums › Buying and Selling RE › pulled the trigger on this 4S – Davidson Reunion house (shortsale)
- This topic has 18 replies, 11 voices, and was last updated 12 years, 8 months ago by
UCGal.
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December 12, 2011 at 5:09 PM #19352December 13, 2011 at 7:43 AM #734547
ocrenter
Participantcongrats! good job on the purchase, less than $170/sqft on a Davidson home in a good area is more than anyone can ask. sub 4% interest rate is icing on the cake.
homes in this tract went for upward of $1.1 million at the peak of the market in ’05-’06.
and even though on the surface you only reaped a 30% discount from the peak, the difference in the amount financed plus the 2% difference in mortgage interest rate and also accounting for inflation means your monthly obligation is at 50% discount from peak.
I’m sure you’ve seen this prior thread on the subject:
http://piggington.com/4s_ranch_reo_still_too_high
I think consensus here was mid $600k as the bottom for the high 3000 sqft models back in ’09. but of course that did not account for inflation and the ultra low interest rate.
December 13, 2011 at 9:36 AM #734556recordsclerk
ParticipantCongrats on locking in a great contract. This is what I’ve been saying all along about Short Sale deals. While other buyers with less patience are paying $200sqft, you were able to lock down a great deal. Even if prices were to fall another 10%, with this exceptional deal you are already hedged against it. Also looks like you got some good upgrades and yard looks finished.
January 2, 2012 at 6:33 AM #7353082012 turns around
ParticipantThanks for the comments. Closed the escrow on the day after Christmas and plan moving in after new year. It is a just a nice year gift.
January 2, 2012 at 11:28 AM #735319SD Realtor
ParticipantI agree with you recordsclerk. For all the poo pooing we hear about short sales, if you do have patience many of them do come through. I also congratulate the op!
January 2, 2012 at 12:58 PM #735323briansd1
Guest[quote=SD Realtor]I agree with you recordsclerk. For all the poo pooing we hear about short sales, if you do have patience many of them do come through. I also congratulate the op![/quote]
I agree that short sales can be subtantially better deals than REO.
I’m bidding on a short sale myself. I have unlimited patience, and it won’t break my heart if I don’t get it.
I think that the emotional nature of homebuying makes short-sale unappealing to buyers who must plan their moves within certain time frames.
January 2, 2012 at 4:03 PM #735325paramount
Participant[quote=vasans]Should I be happy?[/quote]
That depends IMO.
If you have young kids (<15) can one parent stay at home after buying this house?
January 2, 2012 at 4:51 PM #735329scaredyclassic
ParticipantI always advise being happy independent of all other conditions.
January 3, 2012 at 1:21 PM #7353502012 turns around
ParticipantCan’t me more merrier. Yes for both π
Btw, changing my username to been bottom fishing.January 3, 2012 at 4:37 PM #735354sdduuuude
Participanthow about “done bottom fishing” ?
bottom catcher ?
January 3, 2012 at 5:03 PM #735355paramount
Participant[quote=walterwhite]I always advise being happy independent of all other conditions.[/quote]\
That’s because your self-centered like so many other shallow southern californian’s.
January 3, 2012 at 9:30 PM #735373UCGal
Participant[quote=paramount][quote=walterwhite]I always advise being happy independent of all other conditions.[/quote]\
That’s because your self-centered like so many other shallow southern californian’s.[/quote]
Wow…
How can you find fault with finding happiness from within?It’s a lot harder to be a good spouse, a good parent, a good neighbor… if you are miserable and wallowing.
January 4, 2012 at 2:28 AM #735384CA renter
Participant[quote=2012 turns around]Can’t me more merrier. Yes for both π
Btw, changing my username to been bottom fishing.[/quote]Congratulations on your new house. Nicely done!
January 4, 2012 at 5:37 AM #7353862012 turns around
ParticipantThank you all for your advice, outlook and positive attitude.
January 4, 2012 at 6:29 PM #735421paramount
Participant[quote=UCGal][quote=paramount][quote=walterwhite]I always advise being happy independent of all other conditions.[/quote]\
That’s because your self-centered like so many other shallow southern californian’s.[/quote]
Wow…
How can you find fault with finding happiness from within?It’s a lot harder to be a good spouse, a good parent, a good neighbor… if you are miserable and wallowing.[/quote]
uh, life is not that simple – not to me anyway.
How are you finding that happiness “from within”?
Does your happiness come at the expense of someone else’s?
If not great…
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