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boomer
ParticipantPB has held up well. I sold in 10/05 and was hoping prices would come down faster than they have. I think what may really accelerate the decline here will be the option arm resets. Late last year I decided to practice my title researching at the county recorders office. I picked 3 neighbors to practice on. All 3 had option arms with a 1% teaser and reset in 09 or 10. It really surprised me. These are people that bought many years ago and couldn’t resist the temp. to take money out. These are people I’m pretty sure can’t qualify at a int. only or fully amortized rate.
ParticipantPB has held up well. I sold in 10/05 and was hoping prices would come down faster than they have. I think what may really accelerate the decline here will be the option arm resets. Late last year I decided to practice my title researching at the county recorders office. I picked 3 neighbors to practice on. All 3 had option arms with a 1% teaser and reset in 09 or 10. It really surprised me. These are people that bought many years ago and couldn’t resist the temp. to take money out. These are people I’m pretty sure can’t qualify at a int. only or fully amortized rate.
ParticipantPB has held up well. I sold in 10/05 and was hoping prices would come down faster than they have. I think what may really accelerate the decline here will be the option arm resets. Late last year I decided to practice my title researching at the county recorders office. I picked 3 neighbors to practice on. All 3 had option arms with a 1% teaser and reset in 09 or 10. It really surprised me. These are people that bought many years ago and couldn’t resist the temp. to take money out. These are people I’m pretty sure can’t qualify at a int. only or fully amortized rate.
ParticipantPB has held up well. I sold in 10/05 and was hoping prices would come down faster than they have. I think what may really accelerate the decline here will be the option arm resets. Late last year I decided to practice my title researching at the county recorders office. I picked 3 neighbors to practice on. All 3 had option arms with a 1% teaser and reset in 09 or 10. It really surprised me. These are people that bought many years ago and couldn’t resist the temp. to take money out. These are people I’m pretty sure can’t qualify at a int. only or fully amortized rate.
ParticipantI went, the whole thing seemed fishy to me. I left at #90. By that time, there had already been 33 properties re-bid. So they would have you believe that 1/3 of the winning bidders either didn’t understand the rules, didn’t bring a personal check, got cold feet or whatever. Maybe if they bid one to far on behalf of the bank, no problem, they can just re-bid it. I will not be putting time in on the next one. Most of the properties got bid up to, or above, what I thought they were worth (or will be in 3-5 months) fixed up. One or two were at about a 15-20% discount, not enough to fix and flip in this market…
ParticipantI went, the whole thing seemed fishy to me. I left at #90. By that time, there had already been 33 properties re-bid. So they would have you believe that 1/3 of the winning bidders either didn’t understand the rules, didn’t bring a personal check, got cold feet or whatever. Maybe if they bid one to far on behalf of the bank, no problem, they can just re-bid it. I will not be putting time in on the next one. Most of the properties got bid up to, or above, what I thought they were worth (or will be in 3-5 months) fixed up. One or two were at about a 15-20% discount, not enough to fix and flip in this market…
ParticipantI went, the whole thing seemed fishy to me. I left at #90. By that time, there had already been 33 properties re-bid. So they would have you believe that 1/3 of the winning bidders either didn’t understand the rules, didn’t bring a personal check, got cold feet or whatever. Maybe if they bid one to far on behalf of the bank, no problem, they can just re-bid it. I will not be putting time in on the next one. Most of the properties got bid up to, or above, what I thought they were worth (or will be in 3-5 months) fixed up. One or two were at about a 15-20% discount, not enough to fix and flip in this market…
ParticipantI went, the whole thing seemed fishy to me. I left at #90. By that time, there had already been 33 properties re-bid. So they would have you believe that 1/3 of the winning bidders either didn’t understand the rules, didn’t bring a personal check, got cold feet or whatever. Maybe if they bid one to far on behalf of the bank, no problem, they can just re-bid it. I will not be putting time in on the next one. Most of the properties got bid up to, or above, what I thought they were worth (or will be in 3-5 months) fixed up. One or two were at about a 15-20% discount, not enough to fix and flip in this market…
ParticipantI went, the whole thing seemed fishy to me. I left at #90. By that time, there had already been 33 properties re-bid. So they would have you believe that 1/3 of the winning bidders either didn’t understand the rules, didn’t bring a personal check, got cold feet or whatever. Maybe if they bid one to far on behalf of the bank, no problem, they can just re-bid it. I will not be putting time in on the next one. Most of the properties got bid up to, or above, what I thought they were worth (or will be in 3-5 months) fixed up. One or two were at about a 15-20% discount, not enough to fix and flip in this market…
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