Wild pricing thread

[jpinpb]

Ricechex – Thank you so much. I appreciate your insight, since you lived in the area. I know that 92104 and 92116 have good streets and bad streets and the only way to know is go there and hang out, check the streets. It varies so much, somtimes from block to block. And thank you for offering to PM you. I may be taking you up on that.

[jpinpb]

So I guess we are just going to have 2005 pricing everywhere. I just want to know how. At least in 2005 they had no income qualifiers w/zero down. You didn’t even have to fog a mirror to get a loan. Now you have to qualify and put something down. How can these prices sustain themselves? Someone please help me understand.

4007 Everts 2J 02/28/2001 for $219,500. That was supposed to be the target, right? Then it sold 01/13/2010 for $350k. Now it’s being flipped for 499k, PPSF: $714.

Back in 2005 4007 Everts St #2H sold for 500k.

So I guess this is it.

[jpinpb]

So I guess we are just going to have 2005 pricing everywhere. I just want to know how. At least in 2005 they had no income qualifiers w/zero down. You didn’t even have to fog a mirror to get a loan. Now you have to qualify and put something down. How can these prices sustain themselves? Someone please help me understand.

4007 Everts 2J 02/28/2001 for $219,500. That was supposed to be the target, right? Then it sold 01/13/2010 for $350k. Now it’s being flipped for 499k, PPSF: $714.

Back in 2005 4007 Everts St #2H sold for 500k.

So I guess this is it.

[jpinpb]

So I guess we are just going to have 2005 pricing everywhere. I just want to know how. At least in 2005 they had no income qualifiers w/zero down. You didn’t even have to fog a mirror to get a loan. Now you have to qualify and put something down. How can these prices sustain themselves? Someone please help me understand.

4007 Everts 2J 02/28/2001 for $219,500. That was supposed to be the target, right? Then it sold 01/13/2010 for $350k. Now it’s being flipped for 499k, PPSF: $714.

Back in 2005 4007 Everts St #2H sold for 500k.

So I guess this is it.

[jpinpb]

So I guess we are just going to have 2005 pricing everywhere. I just want to know how. At least in 2005 they had no income qualifiers w/zero down. You didn’t even have to fog a mirror to get a loan. Now you have to qualify and put something down. How can these prices sustain themselves? Someone please help me understand.

4007 Everts 2J 02/28/2001 for $219,500. That was supposed to be the target, right? Then it sold 01/13/2010 for $350k. Now it’s being flipped for 499k, PPSF: $714.

Back in 2005 4007 Everts St #2H sold for 500k.

So I guess this is it.

[jpinpb]

So I guess we are just going to have 2005 pricing everywhere. I just want to know how. At least in 2005 they had no income qualifiers w/zero down. You didn’t even have to fog a mirror to get a loan. Now you have to qualify and put something down. How can these prices sustain themselves? Someone please help me understand.

4007 Everts 2J 02/28/2001 for $219,500. That was supposed to be the target, right? Then it sold 01/13/2010 for $350k. Now it’s being flipped for 499k, PPSF: $714.

Back in 2005 4007 Everts St #2H sold for 500k.

So I guess this is it.

[garysears]

Well, here are two houses next to each other in La Mesa. Almost identical, mirror image floor plans.

7880 Michelle
Asking: $399,000 (looks like flip)
MLS #: 100036138
3bd/2ba 1248 sqft
9100 sqft lot
Pool
Master Bedroom Expansion

7890 Michelle
Asking: $300,000 (short sale, asking for cash)
MLS #: 100024115
3bd/2ba 1248 sqft
8600 sqft lot
No Pool

There may be 2 different “market prices” depending on whether you are paying cash or putting it on credit. If the 399k sells for asking, undoubtedly some flipper will score the 300k, fix it up for the FHA buyer and resell.

20% down conventional doesn’t seem to be any advantage in this market. The problem is the “conventional” financing must be Fannie Mae conforming, which is a pretty similar standard to other government financing. So, properties pretty much can go FHA/VA or they go all cash. Your 20% down crowd will be outbid in most cases.

[garysears]

Well, here are two houses next to each other in La Mesa. Almost identical, mirror image floor plans.

7880 Michelle
Asking: $399,000 (looks like flip)
MLS #: 100036138
3bd/2ba 1248 sqft
9100 sqft lot
Pool
Master Bedroom Expansion

7890 Michelle
Asking: $300,000 (short sale, asking for cash)
MLS #: 100024115
3bd/2ba 1248 sqft
8600 sqft lot
No Pool

There may be 2 different “market prices” depending on whether you are paying cash or putting it on credit. If the 399k sells for asking, undoubtedly some flipper will score the 300k, fix it up for the FHA buyer and resell.

20% down conventional doesn’t seem to be any advantage in this market. The problem is the “conventional” financing must be Fannie Mae conforming, which is a pretty similar standard to other government financing. So, properties pretty much can go FHA/VA or they go all cash. Your 20% down crowd will be outbid in most cases.

[garysears]

Well, here are two houses next to each other in La Mesa. Almost identical, mirror image floor plans.

7880 Michelle
Asking: $399,000 (looks like flip)
MLS #: 100036138
3bd/2ba 1248 sqft
9100 sqft lot
Pool
Master Bedroom Expansion

7890 Michelle
Asking: $300,000 (short sale, asking for cash)
MLS #: 100024115
3bd/2ba 1248 sqft
8600 sqft lot
No Pool

There may be 2 different “market prices” depending on whether you are paying cash or putting it on credit. If the 399k sells for asking, undoubtedly some flipper will score the 300k, fix it up for the FHA buyer and resell.

20% down conventional doesn’t seem to be any advantage in this market. The problem is the “conventional” financing must be Fannie Mae conforming, which is a pretty similar standard to other government financing. So, properties pretty much can go FHA/VA or they go all cash. Your 20% down crowd will be outbid in most cases.

[garysears]

Well, here are two houses next to each other in La Mesa. Almost identical, mirror image floor plans.

7880 Michelle
Asking: $399,000 (looks like flip)
MLS #: 100036138
3bd/2ba 1248 sqft
9100 sqft lot
Pool
Master Bedroom Expansion

7890 Michelle
Asking: $300,000 (short sale, asking for cash)
MLS #: 100024115
3bd/2ba 1248 sqft
8600 sqft lot
No Pool

There may be 2 different “market prices” depending on whether you are paying cash or putting it on credit. If the 399k sells for asking, undoubtedly some flipper will score the 300k, fix it up for the FHA buyer and resell.

20% down conventional doesn’t seem to be any advantage in this market. The problem is the “conventional” financing must be Fannie Mae conforming, which is a pretty similar standard to other government financing. So, properties pretty much can go FHA/VA or they go all cash. Your 20% down crowd will be outbid in most cases.

[garysears]

Well, here are two houses next to each other in La Mesa. Almost identical, mirror image floor plans.

7880 Michelle
Asking: $399,000 (looks like flip)
MLS #: 100036138
3bd/2ba 1248 sqft
9100 sqft lot
Pool
Master Bedroom Expansion

7890 Michelle
Asking: $300,000 (short sale, asking for cash)
MLS #: 100024115
3bd/2ba 1248 sqft
8600 sqft lot
No Pool

There may be 2 different “market prices” depending on whether you are paying cash or putting it on credit. If the 399k sells for asking, undoubtedly some flipper will score the 300k, fix it up for the FHA buyer and resell.

20% down conventional doesn’t seem to be any advantage in this market. The problem is the “conventional” financing must be Fannie Mae conforming, which is a pretty similar standard to other government financing. So, properties pretty much can go FHA/VA or they go all cash. Your 20% down crowd will be outbid in most cases.

[sdrealtor]

bear in mind that the short sale price was set by the seller’s agent and if its too low the lender will reject it.

[sdrealtor]

bear in mind that the short sale price was set by the seller’s agent and if its too low the lender will reject it.

[sdrealtor]

bear in mind that the short sale price was set by the seller’s agent and if its too low the lender will reject it.

[sdrealtor]

bear in mind that the short sale price was set by the seller’s agent and if its too low the lender will reject it.

[Author]

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