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CA renter.
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March 21, 2009 at 11:41 PM #371798March 22, 2009 at 1:33 PM #371348
CA renter
Participant[quote=scaredycat]i dont know. seems like youd want a big big dsicount to buy a bunch of this crap. if the bank could sell it at x they would. so is x -.3x sucha great deal on a depreciating asset? frankly id want a heck of a lot bigger cushion than 30% to buy into this because maybe you wont be able to sell a bunch of em. it kinda speaks to the possible complete lack of value that they need to be sold in bulk in the first place…[/quote]
But they are often getting them for **70%** off (30 cents on the dollar).
Also, I do not believe for a second that they **have** to be sold off in bulk. That’s what they want us to believe. That’s why we’re being told it’s a “dead” market. As anyone who’s out on the street knows, this is NOT a dead market by any stretch. The activity out there now is comparable to the peak of the bubble, with many properties selling within a day or two with multiple offers.
An auction site, where only pre-qualified buyers can bid, would be the most transparent, most efficient, and offer the best returns. We are being kept out of the market because the greedy scum who brought on this debacle want to be the only ones to profit on the way down.
March 22, 2009 at 1:33 PM #371636Participant[quote=scaredycat]i dont know. seems like youd want a big big dsicount to buy a bunch of this crap. if the bank could sell it at x they would. so is x -.3x sucha great deal on a depreciating asset? frankly id want a heck of a lot bigger cushion than 30% to buy into this because maybe you wont be able to sell a bunch of em. it kinda speaks to the possible complete lack of value that they need to be sold in bulk in the first place…[/quote]
But they are often getting them for **70%** off (30 cents on the dollar).
Also, I do not believe for a second that they **have** to be sold off in bulk. That’s what they want us to believe. That’s why we’re being told it’s a “dead” market. As anyone who’s out on the street knows, this is NOT a dead market by any stretch. The activity out there now is comparable to the peak of the bubble, with many properties selling within a day or two with multiple offers.
An auction site, where only pre-qualified buyers can bid, would be the most transparent, most efficient, and offer the best returns. We are being kept out of the market because the greedy scum who brought on this debacle want to be the only ones to profit on the way down.
March 22, 2009 at 1:33 PM #371806Participant[quote=scaredycat]i dont know. seems like youd want a big big dsicount to buy a bunch of this crap. if the bank could sell it at x they would. so is x -.3x sucha great deal on a depreciating asset? frankly id want a heck of a lot bigger cushion than 30% to buy into this because maybe you wont be able to sell a bunch of em. it kinda speaks to the possible complete lack of value that they need to be sold in bulk in the first place…[/quote]
But they are often getting them for **70%** off (30 cents on the dollar).
Also, I do not believe for a second that they **have** to be sold off in bulk. That’s what they want us to believe. That’s why we’re being told it’s a “dead” market. As anyone who’s out on the street knows, this is NOT a dead market by any stretch. The activity out there now is comparable to the peak of the bubble, with many properties selling within a day or two with multiple offers.
An auction site, where only pre-qualified buyers can bid, would be the most transparent, most efficient, and offer the best returns. We are being kept out of the market because the greedy scum who brought on this debacle want to be the only ones to profit on the way down.
March 22, 2009 at 1:33 PM #371850Participant[quote=scaredycat]i dont know. seems like youd want a big big dsicount to buy a bunch of this crap. if the bank could sell it at x they would. so is x -.3x sucha great deal on a depreciating asset? frankly id want a heck of a lot bigger cushion than 30% to buy into this because maybe you wont be able to sell a bunch of em. it kinda speaks to the possible complete lack of value that they need to be sold in bulk in the first place…[/quote]
But they are often getting them for **70%** off (30 cents on the dollar).
Also, I do not believe for a second that they **have** to be sold off in bulk. That’s what they want us to believe. That’s why we’re being told it’s a “dead” market. As anyone who’s out on the street knows, this is NOT a dead market by any stretch. The activity out there now is comparable to the peak of the bubble, with many properties selling within a day or two with multiple offers.
An auction site, where only pre-qualified buyers can bid, would be the most transparent, most efficient, and offer the best returns. We are being kept out of the market because the greedy scum who brought on this debacle want to be the only ones to profit on the way down.
March 22, 2009 at 1:33 PM #371962Participant[quote=scaredycat]i dont know. seems like youd want a big big dsicount to buy a bunch of this crap. if the bank could sell it at x they would. so is x -.3x sucha great deal on a depreciating asset? frankly id want a heck of a lot bigger cushion than 30% to buy into this because maybe you wont be able to sell a bunch of em. it kinda speaks to the possible complete lack of value that they need to be sold in bulk in the first place…[/quote]
But they are often getting them for **70%** off (30 cents on the dollar).
Also, I do not believe for a second that they **have** to be sold off in bulk. That’s what they want us to believe. That’s why we’re being told it’s a “dead” market. As anyone who’s out on the street knows, this is NOT a dead market by any stretch. The activity out there now is comparable to the peak of the bubble, with many properties selling within a day or two with multiple offers.
An auction site, where only pre-qualified buyers can bid, would be the most transparent, most efficient, and offer the best returns. We are being kept out of the market because the greedy scum who brought on this debacle want to be the only ones to profit on the way down.
March 22, 2009 at 2:13 PM #371373jpinpb
ParticipantCAR – I agree. There are people out there willing to buy for a reasonable price and the best way would be an auction. But auctions such as REDC are not working.
Again, it’s probably most efficient for the banks to sell bulk. But I wish it would be recorded or rather, more easily available, as that sale should undoubtedly be the new comp.
This should not be secret activity. But regulators are all in need of new eyeglasses and there’s all kinds of things going on that people don’t know about. It’s like peeling an onion and it’s really a rotten, stinky onion.
March 22, 2009 at 2:13 PM #371660ParticipantCAR – I agree. There are people out there willing to buy for a reasonable price and the best way would be an auction. But auctions such as REDC are not working.
Again, it’s probably most efficient for the banks to sell bulk. But I wish it would be recorded or rather, more easily available, as that sale should undoubtedly be the new comp.
This should not be secret activity. But regulators are all in need of new eyeglasses and there’s all kinds of things going on that people don’t know about. It’s like peeling an onion and it’s really a rotten, stinky onion.
March 22, 2009 at 2:13 PM #371829ParticipantCAR – I agree. There are people out there willing to buy for a reasonable price and the best way would be an auction. But auctions such as REDC are not working.
Again, it’s probably most efficient for the banks to sell bulk. But I wish it would be recorded or rather, more easily available, as that sale should undoubtedly be the new comp.
This should not be secret activity. But regulators are all in need of new eyeglasses and there’s all kinds of things going on that people don’t know about. It’s like peeling an onion and it’s really a rotten, stinky onion.
March 22, 2009 at 2:13 PM #371874ParticipantCAR – I agree. There are people out there willing to buy for a reasonable price and the best way would be an auction. But auctions such as REDC are not working.
Again, it’s probably most efficient for the banks to sell bulk. But I wish it would be recorded or rather, more easily available, as that sale should undoubtedly be the new comp.
This should not be secret activity. But regulators are all in need of new eyeglasses and there’s all kinds of things going on that people don’t know about. It’s like peeling an onion and it’s really a rotten, stinky onion.
March 22, 2009 at 2:13 PM #371986ParticipantCAR – I agree. There are people out there willing to buy for a reasonable price and the best way would be an auction. But auctions such as REDC are not working.
Again, it’s probably most efficient for the banks to sell bulk. But I wish it would be recorded or rather, more easily available, as that sale should undoubtedly be the new comp.
This should not be secret activity. But regulators are all in need of new eyeglasses and there’s all kinds of things going on that people don’t know about. It’s like peeling an onion and it’s really a rotten, stinky onion.
March 22, 2009 at 3:39 PM #371388ParticipantREDC has high minimums and comes with its own shills. The only reason these auctions aren’t working is because the reserve prices are too high, and the commissions add to the cost. The cost of auctioning the properties has to come from the sellers, not the buyers.
I don’t like salespeople (those on this site, not included). 😉
People could still make bulk purchases via the auction site — bid on as many properties as you want, they **might** consider offering 5% off if one buys 30 or more properties or something — but we need to eliminate the opaque nature and “special relationships” created between the bad players. It needs to be open, honest, and efficient.
Imagine being able to find a property on a listing site, arranging an inspection (the govt can have certain days and times — these costs would be covered by a portion of the proceeds from the auction), and making a bid. Whenever someone bids against you, their bid price, identification and bid/purchase history can be looked up.
All sales would be final, and if anyone tried to play games, they would be banned from all future auctions.
March 22, 2009 at 3:39 PM #371675ParticipantREDC has high minimums and comes with its own shills. The only reason these auctions aren’t working is because the reserve prices are too high, and the commissions add to the cost. The cost of auctioning the properties has to come from the sellers, not the buyers.
I don’t like salespeople (those on this site, not included). 😉
People could still make bulk purchases via the auction site — bid on as many properties as you want, they **might** consider offering 5% off if one buys 30 or more properties or something — but we need to eliminate the opaque nature and “special relationships” created between the bad players. It needs to be open, honest, and efficient.
Imagine being able to find a property on a listing site, arranging an inspection (the govt can have certain days and times — these costs would be covered by a portion of the proceeds from the auction), and making a bid. Whenever someone bids against you, their bid price, identification and bid/purchase history can be looked up.
All sales would be final, and if anyone tried to play games, they would be banned from all future auctions.
March 22, 2009 at 3:39 PM #371844ParticipantREDC has high minimums and comes with its own shills. The only reason these auctions aren’t working is because the reserve prices are too high, and the commissions add to the cost. The cost of auctioning the properties has to come from the sellers, not the buyers.
I don’t like salespeople (those on this site, not included). 😉
People could still make bulk purchases via the auction site — bid on as many properties as you want, they **might** consider offering 5% off if one buys 30 or more properties or something — but we need to eliminate the opaque nature and “special relationships” created between the bad players. It needs to be open, honest, and efficient.
Imagine being able to find a property on a listing site, arranging an inspection (the govt can have certain days and times — these costs would be covered by a portion of the proceeds from the auction), and making a bid. Whenever someone bids against you, their bid price, identification and bid/purchase history can be looked up.
All sales would be final, and if anyone tried to play games, they would be banned from all future auctions.
March 22, 2009 at 3:39 PM #371889ParticipantREDC has high minimums and comes with its own shills. The only reason these auctions aren’t working is because the reserve prices are too high, and the commissions add to the cost. The cost of auctioning the properties has to come from the sellers, not the buyers.
I don’t like salespeople (those on this site, not included). 😉
People could still make bulk purchases via the auction site — bid on as many properties as you want, they **might** consider offering 5% off if one buys 30 or more properties or something — but we need to eliminate the opaque nature and “special relationships” created between the bad players. It needs to be open, honest, and efficient.
Imagine being able to find a property on a listing site, arranging an inspection (the govt can have certain days and times — these costs would be covered by a portion of the proceeds from the auction), and making a bid. Whenever someone bids against you, their bid price, identification and bid/purchase history can be looked up.
All sales would be final, and if anyone tried to play games, they would be banned from all future auctions.
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