Question for the bulls

[sdrealtor]

FYI, the bulks sales i have seen advertised go for 30 to 70 cents on the dollar based upon current BPO (probably a little low already) value. Some of these may be flipped but they easily cash flow as rentals and who wants to pay ordinary income instead of long term capital gains? I’d expect alot of bulk sold properties will end up as very profitable rentals until the market goes up, whenever that is.

There are so many things going on behind the scenes in real; estate that the layperson no matter how long they spend on the Internet will never see or understand. Simple this situation is not.

[SD Realtor]

I agree with sdr and with jp and arraya. Yes to everyone!

As a frequent visitor to the courthouse now it is almost funny to watch the purchasing now. Very skinny margins, and staggering numbers at downtown and el cajon. Big players from orange county and other syndications coming in and purchasing. If they make even 10% margin they are doing well for the investors.

On the other side yes my short sale that just closed had someone who did not pay on mortgage from April of 08 to now and the home sold. It did get a NOD and NOT.

I do agree that there are alot of people living for free. I also know that 2 of the homes we purchased had tenants in them who paid rent and the landlords pocketted the money. I am sure there is alot of that as well.

The argument, is not that there is not lots of shadow inventory out there, or lots of deadbeats. There are. I agree. Also when I read sdrs posts, I do not see him disputing that. The fact that he, nor I, can sit here and tell all of you where every single home is going to go may paint us in a “bulls light” in some of your eyes. So be it however that is not the case.

I think that we tend to believe it will be a case of the rich getting richer. Maybe private investors, maybe foreign syndications, maybe participants of the PPIP, or even other little guys. For myself personally I guess I am just to skeptical to believe this will all drip down to you and me. You see what I am saying? sdr may say it in a more brash manner but I think when we all read peoples postings we do it from our own perspective and that either jades us or pisses us off or some of us nod and go yeah I see what he is saying.

Are there enough entities out there to soak all this up? Not sure but I think we would all agree there certainly is a hell of alot of cash out there to soak it up. Not just in this country either. Now if we all agree that sometime down the road there is going to be massive inflation, then these entities that have purchased bulk homes may not be in a bad position. I guess it depends on what they want to do with them.

Taking the PPIP into account, if you read more about it, those deals are simply UNBEATABLE. It really is.

So to me the dispute is not about shadow inventory, shadow deadbeats, or future supply. Surely the number of homes going back to the bene at trustee sale DWARFS those purchased. No argument there. I am not going to sit and argue realtytrac stats and all that as well. They are what they are.

I have come to accept the game is not fair. I cannot afford to WAIT. It is much easier to sit and bring up posts about how bad things are, how bad they will be, and how everything will turn to turdberries. I think there is actually a bit of joy as things continue to worsen and bitterness if they will not.

It is much harder to look at things in an opportunistic way, shake yourself loose, take some risk and try to take advantage of the situation and make some money out of it. Life is absolutely not fair and success in our current society is much harder for little guys then big. I acknowledge the conditions, the possible future calamities, and risks, but I am not going to curl up and tell everyone to sit back and do nothing. To me that is not the answer.

[SD Realtor]

I agree with sdr and with jp and arraya. Yes to everyone!

As a frequent visitor to the courthouse now it is almost funny to watch the purchasing now. Very skinny margins, and staggering numbers at downtown and el cajon. Big players from orange county and other syndications coming in and purchasing. If they make even 10% margin they are doing well for the investors.

On the other side yes my short sale that just closed had someone who did not pay on mortgage from April of 08 to now and the home sold. It did get a NOD and NOT.

I do agree that there are alot of people living for free. I also know that 2 of the homes we purchased had tenants in them who paid rent and the landlords pocketted the money. I am sure there is alot of that as well.

The argument, is not that there is not lots of shadow inventory out there, or lots of deadbeats. There are. I agree. Also when I read sdrs posts, I do not see him disputing that. The fact that he, nor I, can sit here and tell all of you where every single home is going to go may paint us in a “bulls light” in some of your eyes. So be it however that is not the case.

I think that we tend to believe it will be a case of the rich getting richer. Maybe private investors, maybe foreign syndications, maybe participants of the PPIP, or even other little guys. For myself personally I guess I am just to skeptical to believe this will all drip down to you and me. You see what I am saying? sdr may say it in a more brash manner but I think when we all read peoples postings we do it from our own perspective and that either jades us or pisses us off or some of us nod and go yeah I see what he is saying.

Are there enough entities out there to soak all this up? Not sure but I think we would all agree there certainly is a hell of alot of cash out there to soak it up. Not just in this country either. Now if we all agree that sometime down the road there is going to be massive inflation, then these entities that have purchased bulk homes may not be in a bad position. I guess it depends on what they want to do with them.

Taking the PPIP into account, if you read more about it, those deals are simply UNBEATABLE. It really is.

So to me the dispute is not about shadow inventory, shadow deadbeats, or future supply. Surely the number of homes going back to the bene at trustee sale DWARFS those purchased. No argument there. I am not going to sit and argue realtytrac stats and all that as well. They are what they are.

I have come to accept the game is not fair. I cannot afford to WAIT. It is much easier to sit and bring up posts about how bad things are, how bad they will be, and how everything will turn to turdberries. I think there is actually a bit of joy as things continue to worsen and bitterness if they will not.

It is much harder to look at things in an opportunistic way, shake yourself loose, take some risk and try to take advantage of the situation and make some money out of it. Life is absolutely not fair and success in our current society is much harder for little guys then big. I acknowledge the conditions, the possible future calamities, and risks, but I am not going to curl up and tell everyone to sit back and do nothing. To me that is not the answer.

[SD Realtor]

I agree with sdr and with jp and arraya. Yes to everyone!

As a frequent visitor to the courthouse now it is almost funny to watch the purchasing now. Very skinny margins, and staggering numbers at downtown and el cajon. Big players from orange county and other syndications coming in and purchasing. If they make even 10% margin they are doing well for the investors.

On the other side yes my short sale that just closed had someone who did not pay on mortgage from April of 08 to now and the home sold. It did get a NOD and NOT.

I do agree that there are alot of people living for free. I also know that 2 of the homes we purchased had tenants in them who paid rent and the landlords pocketted the money. I am sure there is alot of that as well.

The argument, is not that there is not lots of shadow inventory out there, or lots of deadbeats. There are. I agree. Also when I read sdrs posts, I do not see him disputing that. The fact that he, nor I, can sit here and tell all of you where every single home is going to go may paint us in a “bulls light” in some of your eyes. So be it however that is not the case.

I think that we tend to believe it will be a case of the rich getting richer. Maybe private investors, maybe foreign syndications, maybe participants of the PPIP, or even other little guys. For myself personally I guess I am just to skeptical to believe this will all drip down to you and me. You see what I am saying? sdr may say it in a more brash manner but I think when we all read peoples postings we do it from our own perspective and that either jades us or pisses us off or some of us nod and go yeah I see what he is saying.

Are there enough entities out there to soak all this up? Not sure but I think we would all agree there certainly is a hell of alot of cash out there to soak it up. Not just in this country either. Now if we all agree that sometime down the road there is going to be massive inflation, then these entities that have purchased bulk homes may not be in a bad position. I guess it depends on what they want to do with them.

Taking the PPIP into account, if you read more about it, those deals are simply UNBEATABLE. It really is.

So to me the dispute is not about shadow inventory, shadow deadbeats, or future supply. Surely the number of homes going back to the bene at trustee sale DWARFS those purchased. No argument there. I am not going to sit and argue realtytrac stats and all that as well. They are what they are.

I have come to accept the game is not fair. I cannot afford to WAIT. It is much easier to sit and bring up posts about how bad things are, how bad they will be, and how everything will turn to turdberries. I think there is actually a bit of joy as things continue to worsen and bitterness if they will not.

It is much harder to look at things in an opportunistic way, shake yourself loose, take some risk and try to take advantage of the situation and make some money out of it. Life is absolutely not fair and success in our current society is much harder for little guys then big. I acknowledge the conditions, the possible future calamities, and risks, but I am not going to curl up and tell everyone to sit back and do nothing. To me that is not the answer.

[SD Realtor]

I agree with sdr and with jp and arraya. Yes to everyone!

As a frequent visitor to the courthouse now it is almost funny to watch the purchasing now. Very skinny margins, and staggering numbers at downtown and el cajon. Big players from orange county and other syndications coming in and purchasing. If they make even 10% margin they are doing well for the investors.

On the other side yes my short sale that just closed had someone who did not pay on mortgage from April of 08 to now and the home sold. It did get a NOD and NOT.

I do agree that there are alot of people living for free. I also know that 2 of the homes we purchased had tenants in them who paid rent and the landlords pocketted the money. I am sure there is alot of that as well.

The argument, is not that there is not lots of shadow inventory out there, or lots of deadbeats. There are. I agree. Also when I read sdrs posts, I do not see him disputing that. The fact that he, nor I, can sit here and tell all of you where every single home is going to go may paint us in a “bulls light” in some of your eyes. So be it however that is not the case.

I think that we tend to believe it will be a case of the rich getting richer. Maybe private investors, maybe foreign syndications, maybe participants of the PPIP, or even other little guys. For myself personally I guess I am just to skeptical to believe this will all drip down to you and me. You see what I am saying? sdr may say it in a more brash manner but I think when we all read peoples postings we do it from our own perspective and that either jades us or pisses us off or some of us nod and go yeah I see what he is saying.

Are there enough entities out there to soak all this up? Not sure but I think we would all agree there certainly is a hell of alot of cash out there to soak it up. Not just in this country either. Now if we all agree that sometime down the road there is going to be massive inflation, then these entities that have purchased bulk homes may not be in a bad position. I guess it depends on what they want to do with them.

Taking the PPIP into account, if you read more about it, those deals are simply UNBEATABLE. It really is.

So to me the dispute is not about shadow inventory, shadow deadbeats, or future supply. Surely the number of homes going back to the bene at trustee sale DWARFS those purchased. No argument there. I am not going to sit and argue realtytrac stats and all that as well. They are what they are.

I have come to accept the game is not fair. I cannot afford to WAIT. It is much easier to sit and bring up posts about how bad things are, how bad they will be, and how everything will turn to turdberries. I think there is actually a bit of joy as things continue to worsen and bitterness if they will not.

It is much harder to look at things in an opportunistic way, shake yourself loose, take some risk and try to take advantage of the situation and make some money out of it. Life is absolutely not fair and success in our current society is much harder for little guys then big. I acknowledge the conditions, the possible future calamities, and risks, but I am not going to curl up and tell everyone to sit back and do nothing. To me that is not the answer.

[SD Realtor]

I agree with sdr and with jp and arraya. Yes to everyone!

As a frequent visitor to the courthouse now it is almost funny to watch the purchasing now. Very skinny margins, and staggering numbers at downtown and el cajon. Big players from orange county and other syndications coming in and purchasing. If they make even 10% margin they are doing well for the investors.

On the other side yes my short sale that just closed had someone who did not pay on mortgage from April of 08 to now and the home sold. It did get a NOD and NOT.

I do agree that there are alot of people living for free. I also know that 2 of the homes we purchased had tenants in them who paid rent and the landlords pocketted the money. I am sure there is alot of that as well.

The argument, is not that there is not lots of shadow inventory out there, or lots of deadbeats. There are. I agree. Also when I read sdrs posts, I do not see him disputing that. The fact that he, nor I, can sit here and tell all of you where every single home is going to go may paint us in a “bulls light” in some of your eyes. So be it however that is not the case.

I think that we tend to believe it will be a case of the rich getting richer. Maybe private investors, maybe foreign syndications, maybe participants of the PPIP, or even other little guys. For myself personally I guess I am just to skeptical to believe this will all drip down to you and me. You see what I am saying? sdr may say it in a more brash manner but I think when we all read peoples postings we do it from our own perspective and that either jades us or pisses us off or some of us nod and go yeah I see what he is saying.

Are there enough entities out there to soak all this up? Not sure but I think we would all agree there certainly is a hell of alot of cash out there to soak it up. Not just in this country either. Now if we all agree that sometime down the road there is going to be massive inflation, then these entities that have purchased bulk homes may not be in a bad position. I guess it depends on what they want to do with them.

Taking the PPIP into account, if you read more about it, those deals are simply UNBEATABLE. It really is.

So to me the dispute is not about shadow inventory, shadow deadbeats, or future supply. Surely the number of homes going back to the bene at trustee sale DWARFS those purchased. No argument there. I am not going to sit and argue realtytrac stats and all that as well. They are what they are.

I have come to accept the game is not fair. I cannot afford to WAIT. It is much easier to sit and bring up posts about how bad things are, how bad they will be, and how everything will turn to turdberries. I think there is actually a bit of joy as things continue to worsen and bitterness if they will not.

It is much harder to look at things in an opportunistic way, shake yourself loose, take some risk and try to take advantage of the situation and make some money out of it. Life is absolutely not fair and success in our current society is much harder for little guys then big. I acknowledge the conditions, the possible future calamities, and risks, but I am not going to curl up and tell everyone to sit back and do nothing. To me that is not the answer.

[DWCAP]

Ill tell you where my disagreement with the ‘pig bulls’ is: That all this doesnt matter to the little guy like me.

Look, 4 years ago I couldnt afford Jack or shit. Maybe I could buy a spot under a freeway overpass with high voltage wires running next to it. Now, I can buy something I may actually want to live in. Sure, all those deep pockets will come rushing in and buy up the best deals; how is that a suprise? They get the IPO deals in stocks, they get the best repo’s, they get the PIPP money, they get to hide their money in foreign tax havens until the day before the IRS comes down on them and then ‘come clean without penalty'(or minor penalty). The game is rigged against me in EVERY game I try to play.

But when those guys buy a house at 40cents/$, and sell it to me for slightly under market making a killing, I GET TO BUY A HOUSE FOR SLIGHTLY UNDER MARKET. (ie also known as affordable) Sure, it would have been more affordable if they wernt in the game acting like useless middle men. But name me another market where those same middle men dont exist with other first and last names.

Every time these guys buy up houses they either rent them out, increasing rental supply and lowering prices, or sell them to someone at ‘slightly under market’, slighlty lowering the market. Either way prices for housing fall until base line affordable (in today’s reality, not historical average) hits. Maybe it takes longer than I want, maybe I wont get the deal of the century, maybe things never get as good as they should have. But I get to buy a house I want for a price I can pay and can live my life where I want to. As a bonified ‘little guy’; ill take what I can get. (atleast until I get to be something else)

[DWCAP]

Ill tell you where my disagreement with the ‘pig bulls’ is: That all this doesnt matter to the little guy like me.

Look, 4 years ago I couldnt afford Jack or shit. Maybe I could buy a spot under a freeway overpass with high voltage wires running next to it. Now, I can buy something I may actually want to live in. Sure, all those deep pockets will come rushing in and buy up the best deals; how is that a suprise? They get the IPO deals in stocks, they get the best repo’s, they get the PIPP money, they get to hide their money in foreign tax havens until the day before the IRS comes down on them and then ‘come clean without penalty'(or minor penalty). The game is rigged against me in EVERY game I try to play.

But when those guys buy a house at 40cents/$, and sell it to me for slightly under market making a killing, I GET TO BUY A HOUSE FOR SLIGHTLY UNDER MARKET. (ie also known as affordable) Sure, it would have been more affordable if they wernt in the game acting like useless middle men. But name me another market where those same middle men dont exist with other first and last names.

Every time these guys buy up houses they either rent them out, increasing rental supply and lowering prices, or sell them to someone at ‘slightly under market’, slighlty lowering the market. Either way prices for housing fall until base line affordable (in today’s reality, not historical average) hits. Maybe it takes longer than I want, maybe I wont get the deal of the century, maybe things never get as good as they should have. But I get to buy a house I want for a price I can pay and can live my life where I want to. As a bonified ‘little guy’; ill take what I can get. (atleast until I get to be something else)

[DWCAP]

Ill tell you where my disagreement with the ‘pig bulls’ is: That all this doesnt matter to the little guy like me.

Look, 4 years ago I couldnt afford Jack or shit. Maybe I could buy a spot under a freeway overpass with high voltage wires running next to it. Now, I can buy something I may actually want to live in. Sure, all those deep pockets will come rushing in and buy up the best deals; how is that a suprise? They get the IPO deals in stocks, they get the best repo’s, they get the PIPP money, they get to hide their money in foreign tax havens until the day before the IRS comes down on them and then ‘come clean without penalty'(or minor penalty). The game is rigged against me in EVERY game I try to play.

But when those guys buy a house at 40cents/$, and sell it to me for slightly under market making a killing, I GET TO BUY A HOUSE FOR SLIGHTLY UNDER MARKET. (ie also known as affordable) Sure, it would have been more affordable if they wernt in the game acting like useless middle men. But name me another market where those same middle men dont exist with other first and last names.

Every time these guys buy up houses they either rent them out, increasing rental supply and lowering prices, or sell them to someone at ‘slightly under market’, slighlty lowering the market. Either way prices for housing fall until base line affordable (in today’s reality, not historical average) hits. Maybe it takes longer than I want, maybe I wont get the deal of the century, maybe things never get as good as they should have. But I get to buy a house I want for a price I can pay and can live my life where I want to. As a bonified ‘little guy’; ill take what I can get. (atleast until I get to be something else)

[DWCAP]

Ill tell you where my disagreement with the ‘pig bulls’ is: That all this doesnt matter to the little guy like me.

Look, 4 years ago I couldnt afford Jack or shit. Maybe I could buy a spot under a freeway overpass with high voltage wires running next to it. Now, I can buy something I may actually want to live in. Sure, all those deep pockets will come rushing in and buy up the best deals; how is that a suprise? They get the IPO deals in stocks, they get the best repo’s, they get the PIPP money, they get to hide their money in foreign tax havens until the day before the IRS comes down on them and then ‘come clean without penalty'(or minor penalty). The game is rigged against me in EVERY game I try to play.

But when those guys buy a house at 40cents/$, and sell it to me for slightly under market making a killing, I GET TO BUY A HOUSE FOR SLIGHTLY UNDER MARKET. (ie also known as affordable) Sure, it would have been more affordable if they wernt in the game acting like useless middle men. But name me another market where those same middle men dont exist with other first and last names.

Every time these guys buy up houses they either rent them out, increasing rental supply and lowering prices, or sell them to someone at ‘slightly under market’, slighlty lowering the market. Either way prices for housing fall until base line affordable (in today’s reality, not historical average) hits. Maybe it takes longer than I want, maybe I wont get the deal of the century, maybe things never get as good as they should have. But I get to buy a house I want for a price I can pay and can live my life where I want to. As a bonified ‘little guy’; ill take what I can get. (atleast until I get to be something else)

[DWCAP]

Ill tell you where my disagreement with the ‘pig bulls’ is: That all this doesnt matter to the little guy like me.

Look, 4 years ago I couldnt afford Jack or shit. Maybe I could buy a spot under a freeway overpass with high voltage wires running next to it. Now, I can buy something I may actually want to live in. Sure, all those deep pockets will come rushing in and buy up the best deals; how is that a suprise? They get the IPO deals in stocks, they get the best repo’s, they get the PIPP money, they get to hide their money in foreign tax havens until the day before the IRS comes down on them and then ‘come clean without penalty'(or minor penalty). The game is rigged against me in EVERY game I try to play.

But when those guys buy a house at 40cents/$, and sell it to me for slightly under market making a killing, I GET TO BUY A HOUSE FOR SLIGHTLY UNDER MARKET. (ie also known as affordable) Sure, it would have been more affordable if they wernt in the game acting like useless middle men. But name me another market where those same middle men dont exist with other first and last names.

Every time these guys buy up houses they either rent them out, increasing rental supply and lowering prices, or sell them to someone at ‘slightly under market’, slighlty lowering the market. Either way prices for housing fall until base line affordable (in today’s reality, not historical average) hits. Maybe it takes longer than I want, maybe I wont get the deal of the century, maybe things never get as good as they should have. But I get to buy a house I want for a price I can pay and can live my life where I want to. As a bonified ‘little guy’; ill take what I can get. (atleast until I get to be something else)

[nocommonsense]

Let the deep pockets buy up all the houses on the market. See if I care. I just know that prebubble a blue collar family could afford the house I’m renting now, which now I can barely afford buying with a sinx-figure income and 200K cash. This picture is simply wrong and can’t go on for long no matter what the “experts” say.

What’s more, I wouldn’t even WANT to own the shabby house we’re living in for half the price!

[nocommonsense]

Let the deep pockets buy up all the houses on the market. See if I care. I just know that prebubble a blue collar family could afford the house I’m renting now, which now I can barely afford buying with a sinx-figure income and 200K cash. This picture is simply wrong and can’t go on for long no matter what the “experts” say.

What’s more, I wouldn’t even WANT to own the shabby house we’re living in for half the price!

[nocommonsense]

Let the deep pockets buy up all the houses on the market. See if I care. I just know that prebubble a blue collar family could afford the house I’m renting now, which now I can barely afford buying with a sinx-figure income and 200K cash. This picture is simply wrong and can’t go on for long no matter what the “experts” say.

What’s more, I wouldn’t even WANT to own the shabby house we’re living in for half the price!

[nocommonsense]

Let the deep pockets buy up all the houses on the market. See if I care. I just know that prebubble a blue collar family could afford the house I’m renting now, which now I can barely afford buying with a sinx-figure income and 200K cash. This picture is simply wrong and can’t go on for long no matter what the “experts” say.

What’s more, I wouldn’t even WANT to own the shabby house we’re living in for half the price!

[Author]

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