[drboom]

flu, you left out a key piece of information: are you looking for a one man band or do you just want to wrap a spec around a banana, toss it over a cubicle wall and have a defined module show up in CVS a couple of days later?

You can get the latter for quite a bit less than $100k (unless there’s a banana embargo). Architect level prima donnas will be way over your budget.

Pick your poison: both approaches have drawbacks.

[drboom]

flu, you left out a key piece of information: are you looking for a one man band or do you just want to wrap a spec around a banana, toss it over a cubicle wall and have a defined module show up in CVS a couple of days later?

You can get the latter for quite a bit less than $100k (unless there’s a banana embargo). Architect level prima donnas will be way over your budget.

Pick your poison: both approaches have drawbacks.

[drboom]

[quote=sdrealtor]Sorry murf you are correct I need to correct that. I’m closing 100 this month.[/quote]

Even with the sdr 90% hyperbole discount, that’s a lot unless you are a broker rather than an agent.

Let’s see: assuming a low end of $300k/sale @ 3% and an 80% agent cut, that’s $72k in gross commissions for the month. How do you have time to post so prolifically here? I guess you could afford to pay your minions to keep your online persona going. 🙂

[drboom]

[quote=sdrealtor]Sorry murf you are correct I need to correct that. I’m closing 100 this month.[/quote]

Even with the sdr 90% hyperbole discount, that’s a lot unless you are a broker rather than an agent.

Let’s see: assuming a low end of $300k/sale @ 3% and an 80% agent cut, that’s $72k in gross commissions for the month. How do you have time to post so prolifically here? I guess you could afford to pay your minions to keep your online persona going. 🙂

[drboom]

[quote=sdrealtor]Sorry murf you are correct I need to correct that. I’m closing 100 this month.[/quote]

Even with the sdr 90% hyperbole discount, that’s a lot unless you are a broker rather than an agent.

Let’s see: assuming a low end of $300k/sale @ 3% and an 80% agent cut, that’s $72k in gross commissions for the month. How do you have time to post so prolifically here? I guess you could afford to pay your minions to keep your online persona going. 🙂

[drboom]

[quote=sdrealtor]Sorry murf you are correct I need to correct that. I’m closing 100 this month.[/quote]

Even with the sdr 90% hyperbole discount, that’s a lot unless you are a broker rather than an agent.

Let’s see: assuming a low end of $300k/sale @ 3% and an 80% agent cut, that’s $72k in gross commissions for the month. How do you have time to post so prolifically here? I guess you could afford to pay your minions to keep your online persona going. 🙂

[drboom]

[quote=sdrealtor]Sorry murf you are correct I need to correct that. I’m closing 100 this month.[/quote]

Even with the sdr 90% hyperbole discount, that’s a lot unless you are a broker rather than an agent.

Let’s see: assuming a low end of $300k/sale @ 3% and an 80% agent cut, that’s $72k in gross commissions for the month. How do you have time to post so prolifically here? I guess you could afford to pay your minions to keep your online persona going. 🙂

[drboom]

[quote=AK]Not a week goes by that I don’t see multiple old short sale listings pop up as REOs, or relist at higher asking prices after getting kicked back by the bank.

It’s a bit of a consolation to know that relatively few people actually closed on smoking hot deals earlier this year.[/quote]

I don’t know about “smoking hot deals”. The bank behind the short sale my wife and I bought had an appraisal done before accepting our offer, so it’s not like they were flying completely blind.

No, I think we paid “fair market value” based on a current snapshot of the market. I’m convinced we’ll see a 10-20% paper loss over the next few years in our neighborhood. The only “smoking” is from the crater where our bank account used to be. I doubt we are unique.

We have no regrets, however. This deal makes financial sense for us for reasons other than capital gains or lack thereof.

[drboom]

[quote=AK]Not a week goes by that I don’t see multiple old short sale listings pop up as REOs, or relist at higher asking prices after getting kicked back by the bank.

It’s a bit of a consolation to know that relatively few people actually closed on smoking hot deals earlier this year.[/quote]

I don’t know about “smoking hot deals”. The bank behind the short sale my wife and I bought had an appraisal done before accepting our offer, so it’s not like they were flying completely blind.

No, I think we paid “fair market value” based on a current snapshot of the market. I’m convinced we’ll see a 10-20% paper loss over the next few years in our neighborhood. The only “smoking” is from the crater where our bank account used to be. I doubt we are unique.

We have no regrets, however. This deal makes financial sense for us for reasons other than capital gains or lack thereof.

[drboom]

[quote=AK]Not a week goes by that I don’t see multiple old short sale listings pop up as REOs, or relist at higher asking prices after getting kicked back by the bank.

It’s a bit of a consolation to know that relatively few people actually closed on smoking hot deals earlier this year.[/quote]

I don’t know about “smoking hot deals”. The bank behind the short sale my wife and I bought had an appraisal done before accepting our offer, so it’s not like they were flying completely blind.

No, I think we paid “fair market value” based on a current snapshot of the market. I’m convinced we’ll see a 10-20% paper loss over the next few years in our neighborhood. The only “smoking” is from the crater where our bank account used to be. I doubt we are unique.

We have no regrets, however. This deal makes financial sense for us for reasons other than capital gains or lack thereof.

[drboom]

[quote=AK]Not a week goes by that I don’t see multiple old short sale listings pop up as REOs, or relist at higher asking prices after getting kicked back by the bank.

It’s a bit of a consolation to know that relatively few people actually closed on smoking hot deals earlier this year.[/quote]

I don’t know about “smoking hot deals”. The bank behind the short sale my wife and I bought had an appraisal done before accepting our offer, so it’s not like they were flying completely blind.

No, I think we paid “fair market value” based on a current snapshot of the market. I’m convinced we’ll see a 10-20% paper loss over the next few years in our neighborhood. The only “smoking” is from the crater where our bank account used to be. I doubt we are unique.

We have no regrets, however. This deal makes financial sense for us for reasons other than capital gains or lack thereof.

[drboom]

[quote=AK]Not a week goes by that I don’t see multiple old short sale listings pop up as REOs, or relist at higher asking prices after getting kicked back by the bank.

It’s a bit of a consolation to know that relatively few people actually closed on smoking hot deals earlier this year.[/quote]

I don’t know about “smoking hot deals”. The bank behind the short sale my wife and I bought had an appraisal done before accepting our offer, so it’s not like they were flying completely blind.

No, I think we paid “fair market value” based on a current snapshot of the market. I’m convinced we’ll see a 10-20% paper loss over the next few years in our neighborhood. The only “smoking” is from the crater where our bank account used to be. I doubt we are unique.

We have no regrets, however. This deal makes financial sense for us for reasons other than capital gains or lack thereof.

[drboom]

[quote=outtamojo]US Bank just gave me a zero percent credit card offer. Also got offer for one of those “Black Cards”
which I promptly shredded when I saw the astronomical annual fee.[/quote]

Me too. $495/year, but you get concierge service! And a carbon fiber card that is “sure to get you noticed”! And, uh … did I mention the carbon fiber card? I love getting noticed!

[quote]Btw, what’s wrong with banks asking 20% down? I don’t consider that tight in my book.[/quote]

Same here, but I think we’re in the minority. Everyone my wife and I talked to when we recently bought our house seemed to think it was odd–almost subversive, really–that we had no debt, FICO scores approaching 800, and 20% down that came from actual savings. It’s like we were being un-American or something.

[drboom]

[quote=outtamojo]US Bank just gave me a zero percent credit card offer. Also got offer for one of those “Black Cards”
which I promptly shredded when I saw the astronomical annual fee.[/quote]

Me too. $495/year, but you get concierge service! And a carbon fiber card that is “sure to get you noticed”! And, uh … did I mention the carbon fiber card? I love getting noticed!

[quote]Btw, what’s wrong with banks asking 20% down? I don’t consider that tight in my book.[/quote]

Same here, but I think we’re in the minority. Everyone my wife and I talked to when we recently bought our house seemed to think it was odd–almost subversive, really–that we had no debt, FICO scores approaching 800, and 20% down that came from actual savings. It’s like we were being un-American or something.

[drboom]

[quote=outtamojo]US Bank just gave me a zero percent credit card offer. Also got offer for one of those “Black Cards”
which I promptly shredded when I saw the astronomical annual fee.[/quote]

Me too. $495/year, but you get concierge service! And a carbon fiber card that is “sure to get you noticed”! And, uh … did I mention the carbon fiber card? I love getting noticed!

[quote]Btw, what’s wrong with banks asking 20% down? I don’t consider that tight in my book.[/quote]

Same here, but I think we’re in the minority. Everyone my wife and I talked to when we recently bought our house seemed to think it was odd–almost subversive, really–that we had no debt, FICO scores approaching 800, and 20% down that came from actual savings. It’s like we were being un-American or something.

[Author]

Posts