- This topic has 18 replies, 9 voices, and was last updated 17 years, 4 months ago by
VoZangre.
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October 15, 2007 at 8:58 AM #10623October 15, 2007 at 9:07 AM #89038
stansd
ParticipantAlex,
I am neither a flipper, nor a big corporation. I’ll sell you my house at double market value…that way you’ll have a clean conscience.
Stan
October 15, 2007 at 9:07 AM #89047stansd
ParticipantAlex,
I am neither a flipper, nor a big corporation. I’ll sell you my house at double market value…that way you’ll have a clean conscience.
Stan
October 15, 2007 at 9:24 AM #89044XBoxBoy
ParticipantAlex,
I too share your feelings that I don’t want to make some flipper a bunch of money. But the bottom line is the bottom line. Whoever is offering a better deal on a house is going to be the one that I want to buy from. (Of course, better yet, wait and let them squirm for a while trying to sell their house, and let prices come down before buying.)
The other side of this is that most current owners aren’t offering their homes at very attractive prices yet. (a few, but not many) Whereas big builders have started to discount. And the worst priced homes seem to be from flippers who are in denial. Thus, if I pay attention to the bottom line, a builder is probably the best deal, while flippers are the worst.
Just my two cents worth.
XBoxBoy
October 15, 2007 at 9:24 AM #89053XBoxBoy
ParticipantAlex,
I too share your feelings that I don’t want to make some flipper a bunch of money. But the bottom line is the bottom line. Whoever is offering a better deal on a house is going to be the one that I want to buy from. (Of course, better yet, wait and let them squirm for a while trying to sell their house, and let prices come down before buying.)
The other side of this is that most current owners aren’t offering their homes at very attractive prices yet. (a few, but not many) Whereas big builders have started to discount. And the worst priced homes seem to be from flippers who are in denial. Thus, if I pay attention to the bottom line, a builder is probably the best deal, while flippers are the worst.
Just my two cents worth.
XBoxBoy
October 15, 2007 at 9:34 AM #89048Bugs
ParticipantIf you’re thinking about a windfall benefitting a seller the flip side is that the buyer paying it is being punished. The flaw with that line of thinking is that it isn’t personal. At any given time the market is what it is.
I think it’s a wash. The developers aren’t building homes to fulfil some altruistic responsibility to the public good. In buying any home from any seller a buyer is supporting the pricing structure in effect at that time. If you’re buying from a developer that transaction still supports the pricing structure for the resale home, even if indirectly.
October 15, 2007 at 9:34 AM #89057Bugs
ParticipantIf you’re thinking about a windfall benefitting a seller the flip side is that the buyer paying it is being punished. The flaw with that line of thinking is that it isn’t personal. At any given time the market is what it is.
I think it’s a wash. The developers aren’t building homes to fulfil some altruistic responsibility to the public good. In buying any home from any seller a buyer is supporting the pricing structure in effect at that time. If you’re buying from a developer that transaction still supports the pricing structure for the resale home, even if indirectly.
October 15, 2007 at 9:42 AM #89050davelj
ParticipantAre we really at the point where someone who bought a house five years ago is considered a “flipper”? I bought a condo in 2000 that I sold in 2004. Prices got crazy and I decided to sell. Does that mean I was a “flipper”?
But more to the point of your question: Who cares? Just buy the home you’d rather live in at the price that’s best for you. If someone makes money on the transaction (or doesn’t), who cares?
Don’t get me wrong, I’m full of schadenfreude right now watching this housing mess unwind… but I have no problem whatsoever with someone making money on their home after holding it for five years. Maybe I’m just crazy that way.
Some of these discussions I find truly bizarre.
October 15, 2007 at 9:42 AM #89059davelj
ParticipantAre we really at the point where someone who bought a house five years ago is considered a “flipper”? I bought a condo in 2000 that I sold in 2004. Prices got crazy and I decided to sell. Does that mean I was a “flipper”?
But more to the point of your question: Who cares? Just buy the home you’d rather live in at the price that’s best for you. If someone makes money on the transaction (or doesn’t), who cares?
Don’t get me wrong, I’m full of schadenfreude right now watching this housing mess unwind… but I have no problem whatsoever with someone making money on their home after holding it for five years. Maybe I’m just crazy that way.
Some of these discussions I find truly bizarre.
October 15, 2007 at 10:18 AM #89066patientlywaiting
ParticipantI agree with davelj.
Right now, the best value in tract homes seem to be in foreclosures of near new construction because:
1) bank is taking a bath and needs to unload quickly.
2) house is new with no maitenance issues (termites, etc..)
3) house was most likely upgraded with landspace, granite, wood floors, etc…
4) newers houses are better built with better technology (double pane windows, better insulation, etc..)
5) higher ceilings, better applicances, a/c, etc..If I had to buy, I would buy a foreclosure previously owned by an FB who HELOCed to fully upgrade his house.
As of right now, the older neighborhoods have not been hit as hard so I would say that you’re better off buying a foreclosoure in Pacific Highlands than a resale in Carmel Valley. Better house for lower PPSF. Value of location is debatable.
As the market evolves, the deals will change.
October 15, 2007 at 10:18 AM #89075patientlywaiting
ParticipantI agree with davelj.
Right now, the best value in tract homes seem to be in foreclosures of near new construction because:
1) bank is taking a bath and needs to unload quickly.
2) house is new with no maitenance issues (termites, etc..)
3) house was most likely upgraded with landspace, granite, wood floors, etc…
4) newers houses are better built with better technology (double pane windows, better insulation, etc..)
5) higher ceilings, better applicances, a/c, etc..If I had to buy, I would buy a foreclosure previously owned by an FB who HELOCed to fully upgrade his house.
As of right now, the older neighborhoods have not been hit as hard so I would say that you’re better off buying a foreclosoure in Pacific Highlands than a resale in Carmel Valley. Better house for lower PPSF. Value of location is debatable.
As the market evolves, the deals will change.
October 15, 2007 at 1:30 PM #89127VoZangre
ParticipantFlippers and whatnot…
f flippers and big bizzness equally.
get the best deal your sheckles will allow
and don’t concern yourself with the nonsense.October 15, 2007 at 1:30 PM #89135VoZangre
ParticipantFlippers and whatnot…
f flippers and big bizzness equally.
get the best deal your sheckles will allow
and don’t concern yourself with the nonsense.October 15, 2007 at 3:13 PM #89151cr
ParticipantThis is a no brainer. Don’t buy from either and let them both suffer during the correction.
Come back in 3-4 years and buy at early 2000 prices.
October 15, 2007 at 3:13 PM #89159cr
ParticipantThis is a no brainer. Don’t buy from either and let them both suffer during the correction.
Come back in 3-4 years and buy at early 2000 prices.
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