Seeking the opinion of the buyers out there.

[Nor-LA-SD-guy]

[quote=briansd1][quote=flu]Never underestimate the financial state of your peers. Not everyone is financially “ruined” as the media would like to portray, though it’s much more convenient to think so.

(Still in search of positive cash flow properties)
[/quote]

Your peers will generally overstate their wherewithal. Just like your peers overstate how great their children are.

Now, I’m sure that there are plenty of rich people. Those people are not buying stucco boxes in suburbia.

With real estate, as with stock, it’s not the people who have the staying power to hold-on that determines the market price of all houses. The marginal sale of the next house determines the price of all similar houses.

[/quote]

While that maybe true for most area’s I would point out the exception where prices are already so low you would need to have a gun pointed at the owners head before they would sell for what the foreclosure down the street sold for, then it’s just the next foreclosure that you would be comparing against (and at some point the foreclosure ride will be over).

I don’t think I can time that.

[moneymaker]

Well I bought in the lower tier back in February and fully expected(and still do)the appraised value to drop maybe 20%, but I got a really good interest rate and am buying at the same price neighbors are paying for rent. Ok, it also made the wife really really happy! As an aside Zillow(which I don’t believe is accurate)says the house has steadily increased like $5000 a month since we took possession,that’s gotta make the bank really happy,as I won’t consider myself a homeowner until the mortgage is paid off,no delusions here.Did I mention that it’s a really nice house?
1)If you lose your job,does it really matter if you rent or pay a mortgage?
2)I think we are in a Depression.
3)I’ve believed in shadow inventory since we passed the peak in Nov.’05

[moneymaker]

Well I bought in the lower tier back in February and fully expected(and still do)the appraised value to drop maybe 20%, but I got a really good interest rate and am buying at the same price neighbors are paying for rent. Ok, it also made the wife really really happy! As an aside Zillow(which I don’t believe is accurate)says the house has steadily increased like $5000 a month since we took possession,that’s gotta make the bank really happy,as I won’t consider myself a homeowner until the mortgage is paid off,no delusions here.Did I mention that it’s a really nice house?
1)If you lose your job,does it really matter if you rent or pay a mortgage?
2)I think we are in a Depression.
3)I’ve believed in shadow inventory since we passed the peak in Nov.’05

[moneymaker]

Well I bought in the lower tier back in February and fully expected(and still do)the appraised value to drop maybe 20%, but I got a really good interest rate and am buying at the same price neighbors are paying for rent. Ok, it also made the wife really really happy! As an aside Zillow(which I don’t believe is accurate)says the house has steadily increased like $5000 a month since we took possession,that’s gotta make the bank really happy,as I won’t consider myself a homeowner until the mortgage is paid off,no delusions here.Did I mention that it’s a really nice house?
1)If you lose your job,does it really matter if you rent or pay a mortgage?
2)I think we are in a Depression.
3)I’ve believed in shadow inventory since we passed the peak in Nov.’05

[moneymaker]

Well I bought in the lower tier back in February and fully expected(and still do)the appraised value to drop maybe 20%, but I got a really good interest rate and am buying at the same price neighbors are paying for rent. Ok, it also made the wife really really happy! As an aside Zillow(which I don’t believe is accurate)says the house has steadily increased like $5000 a month since we took possession,that’s gotta make the bank really happy,as I won’t consider myself a homeowner until the mortgage is paid off,no delusions here.Did I mention that it’s a really nice house?
1)If you lose your job,does it really matter if you rent or pay a mortgage?
2)I think we are in a Depression.
3)I’ve believed in shadow inventory since we passed the peak in Nov.’05

[moneymaker]

Well I bought in the lower tier back in February and fully expected(and still do)the appraised value to drop maybe 20%, but I got a really good interest rate and am buying at the same price neighbors are paying for rent. Ok, it also made the wife really really happy! As an aside Zillow(which I don’t believe is accurate)says the house has steadily increased like $5000 a month since we took possession,that’s gotta make the bank really happy,as I won’t consider myself a homeowner until the mortgage is paid off,no delusions here.Did I mention that it’s a really nice house?
1)If you lose your job,does it really matter if you rent or pay a mortgage?
2)I think we are in a Depression.
3)I’ve believed in shadow inventory since we passed the peak in Nov.’05

[temeculaguy]

WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.

[temeculaguy]

WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.

[temeculaguy]

WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.

[temeculaguy]

WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.

[temeculaguy]

WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.

[Coronita]

[quote=temeculaguy]WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.[/quote]

I’m still seeing if I can pick up cheap(er) property or a better primary….Just not holding my breath though, because I think i missed the boat (in the near term) for the more affordable stuff and the higher end stuff is still ways away. Oh well, guess that’s my message to focus on other things…

RE in China is getting interesting too…One thing…Folks have suggested buying property in Vietnam if can….Cheap labor is moving to Vietnam, coming soon to a theater near you, apparently

[Coronita]

[quote=temeculaguy]WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.[/quote]

I’m still seeing if I can pick up cheap(er) property or a better primary….Just not holding my breath though, because I think i missed the boat (in the near term) for the more affordable stuff and the higher end stuff is still ways away. Oh well, guess that’s my message to focus on other things…

RE in China is getting interesting too…One thing…Folks have suggested buying property in Vietnam if can….Cheap labor is moving to Vietnam, coming soon to a theater near you, apparently

[Coronita]

[quote=temeculaguy]WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.[/quote]

I’m still seeing if I can pick up cheap(er) property or a better primary….Just not holding my breath though, because I think i missed the boat (in the near term) for the more affordable stuff and the higher end stuff is still ways away. Oh well, guess that’s my message to focus on other things…

RE in China is getting interesting too…One thing…Folks have suggested buying property in Vietnam if can….Cheap labor is moving to Vietnam, coming soon to a theater near you, apparently

[Coronita]

[quote=temeculaguy]WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.[/quote]

I’m still seeing if I can pick up cheap(er) property or a better primary….Just not holding my breath though, because I think i missed the boat (in the near term) for the more affordable stuff and the higher end stuff is still ways away. Oh well, guess that’s my message to focus on other things…

RE in China is getting interesting too…One thing…Folks have suggested buying property in Vietnam if can….Cheap labor is moving to Vietnam, coming soon to a theater near you, apparently

[Author]

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