Tales of a frustrated buy

[patb]

Chill Out Dude,

This is the beginning of buying season, expect some uptick as
people seek to relocate.

Don’t worry, there are still a trillion dollars of OPTION-ARMS
waiting to reset, particularly IO’s.

Bernanke can’t hold LIBOR down and as these reset, all hell will
be breaking loose.

Come August, lots more price resets will happen

[DWCAP]

Bane,
Let me put this in persepective for you. Are you one of those people who rushes out and stands in line for 5 hours starting at 1 am so you can be one of the first 100 people into the store on Black Friday and get the special prize? Or are you one of the thousands who price their shopping to what they see in the advertisements and then are shocked whenthey show up to the store at 6 am?
Currently housing is in Black Friday mode. Sure, SCREAMING deals are being advertised to drive demand, problem is there are only a few of those deals, and alot of them dont actually sell for the advertised price. So alot of people are kinda left out in the cold. This gives the impression that we are back in 2005, which is just what alot of people in the RE industry want.
It isnt true though. We had a very good 2007 black friday, and everyone was all excited about the holiday shopping season pulling us outa the retail funk we were in last october. It didnt last, and retailers had to start discounting even more than before to drive sales. So sleeping in and waiting 20 days got you the better deal, once everyone else stopped shopping. Take a nap bane, October is gonna be a much nicer time to shop.

[DWCAP]

Bane,
Let me put this in persepective for you. Are you one of those people who rushes out and stands in line for 5 hours starting at 1 am so you can be one of the first 100 people into the store on Black Friday and get the special prize? Or are you one of the thousands who price their shopping to what they see in the advertisements and then are shocked whenthey show up to the store at 6 am?
Currently housing is in Black Friday mode. Sure, SCREAMING deals are being advertised to drive demand, problem is there are only a few of those deals, and alot of them dont actually sell for the advertised price. So alot of people are kinda left out in the cold. This gives the impression that we are back in 2005, which is just what alot of people in the RE industry want.
It isnt true though. We had a very good 2007 black friday, and everyone was all excited about the holiday shopping season pulling us outa the retail funk we were in last october. It didnt last, and retailers had to start discounting even more than before to drive sales. So sleeping in and waiting 20 days got you the better deal, once everyone else stopped shopping. Take a nap bane, October is gonna be a much nicer time to shop.

[DWCAP]

Bane,
Let me put this in persepective for you. Are you one of those people who rushes out and stands in line for 5 hours starting at 1 am so you can be one of the first 100 people into the store on Black Friday and get the special prize? Or are you one of the thousands who price their shopping to what they see in the advertisements and then are shocked whenthey show up to the store at 6 am?
Currently housing is in Black Friday mode. Sure, SCREAMING deals are being advertised to drive demand, problem is there are only a few of those deals, and alot of them dont actually sell for the advertised price. So alot of people are kinda left out in the cold. This gives the impression that we are back in 2005, which is just what alot of people in the RE industry want.
It isnt true though. We had a very good 2007 black friday, and everyone was all excited about the holiday shopping season pulling us outa the retail funk we were in last october. It didnt last, and retailers had to start discounting even more than before to drive sales. So sleeping in and waiting 20 days got you the better deal, once everyone else stopped shopping. Take a nap bane, October is gonna be a much nicer time to shop.

[DWCAP]

Bane,
Let me put this in persepective for you. Are you one of those people who rushes out and stands in line for 5 hours starting at 1 am so you can be one of the first 100 people into the store on Black Friday and get the special prize? Or are you one of the thousands who price their shopping to what they see in the advertisements and then are shocked whenthey show up to the store at 6 am?
Currently housing is in Black Friday mode. Sure, SCREAMING deals are being advertised to drive demand, problem is there are only a few of those deals, and alot of them dont actually sell for the advertised price. So alot of people are kinda left out in the cold. This gives the impression that we are back in 2005, which is just what alot of people in the RE industry want.
It isnt true though. We had a very good 2007 black friday, and everyone was all excited about the holiday shopping season pulling us outa the retail funk we were in last october. It didnt last, and retailers had to start discounting even more than before to drive sales. So sleeping in and waiting 20 days got you the better deal, once everyone else stopped shopping. Take a nap bane, October is gonna be a much nicer time to shop.

[DWCAP]

Bane,
Let me put this in persepective for you. Are you one of those people who rushes out and stands in line for 5 hours starting at 1 am so you can be one of the first 100 people into the store on Black Friday and get the special prize? Or are you one of the thousands who price their shopping to what they see in the advertisements and then are shocked whenthey show up to the store at 6 am?
Currently housing is in Black Friday mode. Sure, SCREAMING deals are being advertised to drive demand, problem is there are only a few of those deals, and alot of them dont actually sell for the advertised price. So alot of people are kinda left out in the cold. This gives the impression that we are back in 2005, which is just what alot of people in the RE industry want.
It isnt true though. We had a very good 2007 black friday, and everyone was all excited about the holiday shopping season pulling us outa the retail funk we were in last october. It didnt last, and retailers had to start discounting even more than before to drive sales. So sleeping in and waiting 20 days got you the better deal, once everyone else stopped shopping. Take a nap bane, October is gonna be a much nicer time to shop.

[jpinpb]

DWCAP – That was a great analogy!

Bane- Don’t feel bad about the ones you made offers on. You didn’t miss out. Something better down the road will come up later on at a lesser price. Maybe hard to believe, even a little scary to see people still buying. I’m feeling your frustration, too. Some days I’m ok. Other days I need to reach out to this board to keep cool.

[jpinpb]

DWCAP – That was a great analogy!

Bane- Don’t feel bad about the ones you made offers on. You didn’t miss out. Something better down the road will come up later on at a lesser price. Maybe hard to believe, even a little scary to see people still buying. I’m feeling your frustration, too. Some days I’m ok. Other days I need to reach out to this board to keep cool.

[jpinpb]

DWCAP – That was a great analogy!

Bane- Don’t feel bad about the ones you made offers on. You didn’t miss out. Something better down the road will come up later on at a lesser price. Maybe hard to believe, even a little scary to see people still buying. I’m feeling your frustration, too. Some days I’m ok. Other days I need to reach out to this board to keep cool.

[jpinpb]

DWCAP – That was a great analogy!

Bane- Don’t feel bad about the ones you made offers on. You didn’t miss out. Something better down the road will come up later on at a lesser price. Maybe hard to believe, even a little scary to see people still buying. I’m feeling your frustration, too. Some days I’m ok. Other days I need to reach out to this board to keep cool.

[jpinpb]

DWCAP – That was a great analogy!

Bane- Don’t feel bad about the ones you made offers on. You didn’t miss out. Something better down the road will come up later on at a lesser price. Maybe hard to believe, even a little scary to see people still buying. I’m feeling your frustration, too. Some days I’m ok. Other days I need to reach out to this board to keep cool.

[nin_sis]

I’m in the same boat. Just recently decided to make a career change and need to buy soon before quitting my job and going back to school. I know, sounds crazy, but there is sound reason for it all. Put in an offer on a great place only to find that someone beat me to it and at $30K more than the asking price. I was heartbroken as it was the only place I’d seen in that range ($420K) that could have been move in ready with little fixing. Apparently there were several offers well below asking. I thought I’d be safe buying now, as in no competition, but it’s truly crazy out there. I hear a lot of talk about investors buying right now. What gives? I just need a place for my family to reside for the next few years.

[nin_sis]

I’m in the same boat. Just recently decided to make a career change and need to buy soon before quitting my job and going back to school. I know, sounds crazy, but there is sound reason for it all. Put in an offer on a great place only to find that someone beat me to it and at $30K more than the asking price. I was heartbroken as it was the only place I’d seen in that range ($420K) that could have been move in ready with little fixing. Apparently there were several offers well below asking. I thought I’d be safe buying now, as in no competition, but it’s truly crazy out there. I hear a lot of talk about investors buying right now. What gives? I just need a place for my family to reside for the next few years.

[nin_sis]

I’m in the same boat. Just recently decided to make a career change and need to buy soon before quitting my job and going back to school. I know, sounds crazy, but there is sound reason for it all. Put in an offer on a great place only to find that someone beat me to it and at $30K more than the asking price. I was heartbroken as it was the only place I’d seen in that range ($420K) that could have been move in ready with little fixing. Apparently there were several offers well below asking. I thought I’d be safe buying now, as in no competition, but it’s truly crazy out there. I hear a lot of talk about investors buying right now. What gives? I just need a place for my family to reside for the next few years.

[nin_sis]

I’m in the same boat. Just recently decided to make a career change and need to buy soon before quitting my job and going back to school. I know, sounds crazy, but there is sound reason for it all. Put in an offer on a great place only to find that someone beat me to it and at $30K more than the asking price. I was heartbroken as it was the only place I’d seen in that range ($420K) that could have been move in ready with little fixing. Apparently there were several offers well below asking. I thought I’d be safe buying now, as in no competition, but it’s truly crazy out there. I hear a lot of talk about investors buying right now. What gives? I just need a place for my family to reside for the next few years.

[Author]

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