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AK
Participant[quote=UCGal]I assume you mean what a “typical” owner occupant would offer. All cash offers don’t necessarily mean insanity. It just means someone is trying to take advantage of the system at hand. For all you know these buyers may have borrowed cash from friends/family/401ks etc to be able to make a cash offer for less than you would have, and intend to finance it after the fact. I don’t think you can assume they are investors or flippers. Or insane. In fact getting 10k or more off the price sounds rational to me.[/quote]
To put it in perspective, I’m talking about 15K off 320K, which is roughly 5 percent.
With discounts like that, I think I’m justified in questioning whether banks/servicers are making reasonable efforts to mitigate their own losses and those of MBS investors.
Either that, or I wish I had friends with 300K+ sitting around.
Participant[quote=UCGal]I assume you mean what a “typical” owner occupant would offer. All cash offers don’t necessarily mean insanity. It just means someone is trying to take advantage of the system at hand. For all you know these buyers may have borrowed cash from friends/family/401ks etc to be able to make a cash offer for less than you would have, and intend to finance it after the fact. I don’t think you can assume they are investors or flippers. Or insane. In fact getting 10k or more off the price sounds rational to me.[/quote]
To put it in perspective, I’m talking about 15K off 320K, which is roughly 5 percent.
With discounts like that, I think I’m justified in questioning whether banks/servicers are making reasonable efforts to mitigate their own losses and those of MBS investors.
Either that, or I wish I had friends with 300K+ sitting around.
Participant[quote=UCGal]I assume you mean what a “typical” owner occupant would offer. All cash offers don’t necessarily mean insanity. It just means someone is trying to take advantage of the system at hand. For all you know these buyers may have borrowed cash from friends/family/401ks etc to be able to make a cash offer for less than you would have, and intend to finance it after the fact. I don’t think you can assume they are investors or flippers. Or insane. In fact getting 10k or more off the price sounds rational to me.[/quote]
To put it in perspective, I’m talking about 15K off 320K, which is roughly 5 percent.
With discounts like that, I think I’m justified in questioning whether banks/servicers are making reasonable efforts to mitigate their own losses and those of MBS investors.
Either that, or I wish I had friends with 300K+ sitting around.
Participant[quote=UCGal]I assume you mean what a “typical” owner occupant would offer. All cash offers don’t necessarily mean insanity. It just means someone is trying to take advantage of the system at hand. For all you know these buyers may have borrowed cash from friends/family/401ks etc to be able to make a cash offer for less than you would have, and intend to finance it after the fact. I don’t think you can assume they are investors or flippers. Or insane. In fact getting 10k or more off the price sounds rational to me.[/quote]
To put it in perspective, I’m talking about 15K off 320K, which is roughly 5 percent.
With discounts like that, I think I’m justified in questioning whether banks/servicers are making reasonable efforts to mitigate their own losses and those of MBS investors.
Either that, or I wish I had friends with 300K+ sitting around.
Participant[quote=UCGal]I assume you mean what a “typical” owner occupant would offer. All cash offers don’t necessarily mean insanity. It just means someone is trying to take advantage of the system at hand. For all you know these buyers may have borrowed cash from friends/family/401ks etc to be able to make a cash offer for less than you would have, and intend to finance it after the fact. I don’t think you can assume they are investors or flippers. Or insane. In fact getting 10k or more off the price sounds rational to me.[/quote]
To put it in perspective, I’m talking about 15K off 320K, which is roughly 5 percent.
With discounts like that, I think I’m justified in questioning whether banks/servicers are making reasonable efforts to mitigate their own losses and those of MBS investors.
Either that, or I wish I had friends with 300K+ sitting around.
ParticipantJust found out about another one … closed earlier this month 15K below my conventional offer, presumably all cash. Another nearby closed 10K below the very reasonable asking price, presumably all cash. Never got a chance to bid on that one … lasted about two days on market.
Three model matches (two REOs and a short sale) listed within 1/4 mile. What are the chances these will appraise at “true” market value? By that I mean what a sane owner-occupant would offer.
ParticipantJust found out about another one … closed earlier this month 15K below my conventional offer, presumably all cash. Another nearby closed 10K below the very reasonable asking price, presumably all cash. Never got a chance to bid on that one … lasted about two days on market.
Three model matches (two REOs and a short sale) listed within 1/4 mile. What are the chances these will appraise at “true” market value? By that I mean what a sane owner-occupant would offer.
ParticipantJust found out about another one … closed earlier this month 15K below my conventional offer, presumably all cash. Another nearby closed 10K below the very reasonable asking price, presumably all cash. Never got a chance to bid on that one … lasted about two days on market.
Three model matches (two REOs and a short sale) listed within 1/4 mile. What are the chances these will appraise at “true” market value? By that I mean what a sane owner-occupant would offer.
ParticipantJust found out about another one … closed earlier this month 15K below my conventional offer, presumably all cash. Another nearby closed 10K below the very reasonable asking price, presumably all cash. Never got a chance to bid on that one … lasted about two days on market.
Three model matches (two REOs and a short sale) listed within 1/4 mile. What are the chances these will appraise at “true” market value? By that I mean what a sane owner-occupant would offer.
ParticipantJust found out about another one … closed earlier this month 15K below my conventional offer, presumably all cash. Another nearby closed 10K below the very reasonable asking price, presumably all cash. Never got a chance to bid on that one … lasted about two days on market.
Three model matches (two REOs and a short sale) listed within 1/4 mile. What are the chances these will appraise at “true” market value? By that I mean what a sane owner-occupant would offer.
Participant[quote=jpinpb]AK – I’m using your post on SDL. Hope it’s ok.[/quote]
Please do. I can link to it as an expert opinion when people ask why I’m looking in O’side rather than Carlsbad or Encinitas 🙂
Participant[quote=jpinpb]AK – I’m using your post on SDL. Hope it’s ok.[/quote]
Please do. I can link to it as an expert opinion when people ask why I’m looking in O’side rather than Carlsbad or Encinitas 🙂
Participant[quote=jpinpb]AK – I’m using your post on SDL. Hope it’s ok.[/quote]
Please do. I can link to it as an expert opinion when people ask why I’m looking in O’side rather than Carlsbad or Encinitas 🙂
Participant[quote=jpinpb]AK – I’m using your post on SDL. Hope it’s ok.[/quote]
Please do. I can link to it as an expert opinion when people ask why I’m looking in O’side rather than Carlsbad or Encinitas 🙂
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