Tales of an RSF buyer (Eiplogue update)

[raptorduck]

After almost 18 months since I first started looking for a home in RSF and after almost 6 months since I actually bought, I have kept an eye on the fate of as many of the 150 or so homes I toured as I could.

Certainly I have kept very close tabs on the other 13 homes I made offers on, that were rejected, or in a couple cases, that were bested by the ultimate buyers. Remember that my offers were considered insulting low ball offers by just about every seller. Here are the results.

Of the 13 other offers I made (other than my current home) 7 of those homes have since sold, 4 are still on the market, one is now under a lease option, and one is off the market.

Of the 7 that sold, they sold for an average of 100% of my final “insultingly low ball” offer (range 93%-109%). Only 2 were >100% and they were out-bids at the same time as my offer. The 7 homes also sold for an average of 76% of their original asking prices (range 59%-92%).

Of the 4 that are still on the market, they are currently listed at an average of 103% of my final offer (range 100%-110%). They are also listed at an average of 81% of their original asking (range 78%-85%). These homes have been on the market an average of 173 days, but that is VERY deceptive due to relisting rules now and the apparent ability to keep prior listings from buyers. After all, I made offers on all of them more than 180 days ago and, if you know my buying style, none of them were “fresh” to the market.

None of this is news to anybody, but I think real data is always interesting. And those of you who followed my tales know that my offers anticipated a continuing drop in prices until April-May of 2009. So these percentages may suggest somewhat that things are running worse than even I expected, because there is still about 6 months left to go.

[jpinpb]

Thanks for keeping us updated on what happened w/the other properties.

How are you enjoying your new home? Hope all is well.

[jpinpb]

Thanks for keeping us updated on what happened w/the other properties.

How are you enjoying your new home? Hope all is well.

[jpinpb]

Thanks for keeping us updated on what happened w/the other properties.

How are you enjoying your new home? Hope all is well.

[jpinpb]

Thanks for keeping us updated on what happened w/the other properties.

How are you enjoying your new home? Hope all is well.

[jpinpb]

Thanks for keeping us updated on what happened w/the other properties.

How are you enjoying your new home? Hope all is well.

[EconProf]

Vindication is sweet. Keep us informed.
BobS

[EconProf]

Vindication is sweet. Keep us informed.
BobS

[EconProf]

Vindication is sweet. Keep us informed.
BobS

[EconProf]

Vindication is sweet. Keep us informed.
BobS

[EconProf]

Vindication is sweet. Keep us informed.
BobS

[DWCAP]

Hey Raptor, glad you are still around. Was it really 6 months ago already???

The question I then have to ask is are you still glad you bought your house? I mean, you went through alot waiting out the downturn you did. If I remember right the wife was ticked more than once. So seeing everything in 20/20 hindsight do you wish you would have continued to wait it out? By your own admission the market is doing worse than you had thought it would. If you had waited and bought now, would it have been a BETTER (in all its meanings) buy? Is there a house now that you wish you would have waited for?

Not that ill ever have a RSF zipcode on my letters, I’m just curious how somone who made the jump sees it since in all reality most of us here have our ass glued to the fence.

[DWCAP]

Hey Raptor, glad you are still around. Was it really 6 months ago already???

The question I then have to ask is are you still glad you bought your house? I mean, you went through alot waiting out the downturn you did. If I remember right the wife was ticked more than once. So seeing everything in 20/20 hindsight do you wish you would have continued to wait it out? By your own admission the market is doing worse than you had thought it would. If you had waited and bought now, would it have been a BETTER (in all its meanings) buy? Is there a house now that you wish you would have waited for?

Not that ill ever have a RSF zipcode on my letters, I’m just curious how somone who made the jump sees it since in all reality most of us here have our ass glued to the fence.

[DWCAP]

Hey Raptor, glad you are still around. Was it really 6 months ago already???

The question I then have to ask is are you still glad you bought your house? I mean, you went through alot waiting out the downturn you did. If I remember right the wife was ticked more than once. So seeing everything in 20/20 hindsight do you wish you would have continued to wait it out? By your own admission the market is doing worse than you had thought it would. If you had waited and bought now, would it have been a BETTER (in all its meanings) buy? Is there a house now that you wish you would have waited for?

Not that ill ever have a RSF zipcode on my letters, I’m just curious how somone who made the jump sees it since in all reality most of us here have our ass glued to the fence.

[DWCAP]

Hey Raptor, glad you are still around. Was it really 6 months ago already???

The question I then have to ask is are you still glad you bought your house? I mean, you went through alot waiting out the downturn you did. If I remember right the wife was ticked more than once. So seeing everything in 20/20 hindsight do you wish you would have continued to wait it out? By your own admission the market is doing worse than you had thought it would. If you had waited and bought now, would it have been a BETTER (in all its meanings) buy? Is there a house now that you wish you would have waited for?

Not that ill ever have a RSF zipcode on my letters, I’m just curious how somone who made the jump sees it since in all reality most of us here have our ass glued to the fence.

[Author]

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