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drboom
Participant[quote=pri_dk]We won’t have to wait until 2012 to prove this prediction:
She’s going to Fox News.
She had a choice to finish out her term in a declining economy, or join Rush and the gang making huge money in the conservative media.
[/quote]
Agreed–Fox, or something like it.
I can’t blame her if she decided to get some financial security for her family. This is definitely the time to do it: she’s a hot commodity right now, but if she waits too long she might miss her chance to cash in.
Good luck to her and her family. But I gotta say that bailing out like this lowers my opinion of her as a public servant even further, a feat I didn’t think possible.
Participant[quote=CA renter]
Sorry, sdr, but it does not require a rocket scientist to determine what the “highest and best” offer is.A bank is just as capable of determining market-based pricing, if not more capable. They did just fine with their appraisals before the growth of the mortgage brokerage industry. I’d like to see more accountability in the process.[/quote]
The banks just aren’t set up to look at all the offers, let alone analyze all of them. They can’t even deal with the single offers they’re receiving now.
Anyway, what is “highest and best”? I’m currently in escrow on a short sale. Our offer was $8-10k lower than the highest dollar offer–sale price is around $240k, so it’s a significant percentage. But the “higher” offers included some combination of FHA, non-“as is” clauses, etc., which the listing agent and the seller had to sort through. Our offer had almost no strings beyond a loan contingency, and we convinced them (with high FICO scores and verified down payment funds) that we would be able to perform if our offer was accepted. Again, the seller had to weigh all of this and keep in mind that the bank might reject the offer if the price was too low. This last item is what helps keep the seller honest: they want the short sale to go through.
Would a bank be able to sort all this out without incurring a huge cost? I doubt it, and why should they if they are getting the service for free? Unless there is a huge amount of fraud, the banks are better off with the status quo.
Participant[quote=CA renter]
Sorry, sdr, but it does not require a rocket scientist to determine what the “highest and best” offer is.A bank is just as capable of determining market-based pricing, if not more capable. They did just fine with their appraisals before the growth of the mortgage brokerage industry. I’d like to see more accountability in the process.[/quote]
The banks just aren’t set up to look at all the offers, let alone analyze all of them. They can’t even deal with the single offers they’re receiving now.
Anyway, what is “highest and best”? I’m currently in escrow on a short sale. Our offer was $8-10k lower than the highest dollar offer–sale price is around $240k, so it’s a significant percentage. But the “higher” offers included some combination of FHA, non-“as is” clauses, etc., which the listing agent and the seller had to sort through. Our offer had almost no strings beyond a loan contingency, and we convinced them (with high FICO scores and verified down payment funds) that we would be able to perform if our offer was accepted. Again, the seller had to weigh all of this and keep in mind that the bank might reject the offer if the price was too low. This last item is what helps keep the seller honest: they want the short sale to go through.
Would a bank be able to sort all this out without incurring a huge cost? I doubt it, and why should they if they are getting the service for free? Unless there is a huge amount of fraud, the banks are better off with the status quo.
Participant[quote=CA renter]
Sorry, sdr, but it does not require a rocket scientist to determine what the “highest and best” offer is.A bank is just as capable of determining market-based pricing, if not more capable. They did just fine with their appraisals before the growth of the mortgage brokerage industry. I’d like to see more accountability in the process.[/quote]
The banks just aren’t set up to look at all the offers, let alone analyze all of them. They can’t even deal with the single offers they’re receiving now.
Anyway, what is “highest and best”? I’m currently in escrow on a short sale. Our offer was $8-10k lower than the highest dollar offer–sale price is around $240k, so it’s a significant percentage. But the “higher” offers included some combination of FHA, non-“as is” clauses, etc., which the listing agent and the seller had to sort through. Our offer had almost no strings beyond a loan contingency, and we convinced them (with high FICO scores and verified down payment funds) that we would be able to perform if our offer was accepted. Again, the seller had to weigh all of this and keep in mind that the bank might reject the offer if the price was too low. This last item is what helps keep the seller honest: they want the short sale to go through.
Would a bank be able to sort all this out without incurring a huge cost? I doubt it, and why should they if they are getting the service for free? Unless there is a huge amount of fraud, the banks are better off with the status quo.
Participant[quote=CA renter]
Sorry, sdr, but it does not require a rocket scientist to determine what the “highest and best” offer is.A bank is just as capable of determining market-based pricing, if not more capable. They did just fine with their appraisals before the growth of the mortgage brokerage industry. I’d like to see more accountability in the process.[/quote]
The banks just aren’t set up to look at all the offers, let alone analyze all of them. They can’t even deal with the single offers they’re receiving now.
Anyway, what is “highest and best”? I’m currently in escrow on a short sale. Our offer was $8-10k lower than the highest dollar offer–sale price is around $240k, so it’s a significant percentage. But the “higher” offers included some combination of FHA, non-“as is” clauses, etc., which the listing agent and the seller had to sort through. Our offer had almost no strings beyond a loan contingency, and we convinced them (with high FICO scores and verified down payment funds) that we would be able to perform if our offer was accepted. Again, the seller had to weigh all of this and keep in mind that the bank might reject the offer if the price was too low. This last item is what helps keep the seller honest: they want the short sale to go through.
Would a bank be able to sort all this out without incurring a huge cost? I doubt it, and why should they if they are getting the service for free? Unless there is a huge amount of fraud, the banks are better off with the status quo.
Participant[quote=CA renter]
Sorry, sdr, but it does not require a rocket scientist to determine what the “highest and best” offer is.A bank is just as capable of determining market-based pricing, if not more capable. They did just fine with their appraisals before the growth of the mortgage brokerage industry. I’d like to see more accountability in the process.[/quote]
The banks just aren’t set up to look at all the offers, let alone analyze all of them. They can’t even deal with the single offers they’re receiving now.
Anyway, what is “highest and best”? I’m currently in escrow on a short sale. Our offer was $8-10k lower than the highest dollar offer–sale price is around $240k, so it’s a significant percentage. But the “higher” offers included some combination of FHA, non-“as is” clauses, etc., which the listing agent and the seller had to sort through. Our offer had almost no strings beyond a loan contingency, and we convinced them (with high FICO scores and verified down payment funds) that we would be able to perform if our offer was accepted. Again, the seller had to weigh all of this and keep in mind that the bank might reject the offer if the price was too low. This last item is what helps keep the seller honest: they want the short sale to go through.
Would a bank be able to sort all this out without incurring a huge cost? I doubt it, and why should they if they are getting the service for free? Unless there is a huge amount of fraud, the banks are better off with the status quo.
ParticipantMy wife and I have matching ASUS 900A ($299.00 at Best Buy last fall) netbooks, and they work quite well. We run Ubuntu Linux 8.10 Intrepid; no idea if Windows does well on these machines.
If you get one of these with 1GB of RAM, spend $32.00 (shipped) on a 2GB upgrade from crucial.com It makes a big difference if you can minimize or eliminate disk swapping since the MLC Flash drives in these things are slow.
Speaking of flash drives, I replaced the tiny 4GB unit in mine with a 64GB MLC drive. ($115.00 at the time, but prices fluctuate all over the place).
They’re good little machines. My wife prefers her work-supplied MacBook, but that’s mainly a screen size issue. I use mine almost exclusively, and we also have a late model 20″ iMac and an older 12″ G4 iBook to choose from.
I laugh when I see reviews that say netbooks are only good for light surfing, email, etc. I use mine for everything but video editing and conversion, and I’m a programmer/tech guy. If I have to type a lot of stuff, I use an Apple Bluetooth keyboard, though–these little chicklet keys can slow you down.
ParticipantMy wife and I have matching ASUS 900A ($299.00 at Best Buy last fall) netbooks, and they work quite well. We run Ubuntu Linux 8.10 Intrepid; no idea if Windows does well on these machines.
If you get one of these with 1GB of RAM, spend $32.00 (shipped) on a 2GB upgrade from crucial.com It makes a big difference if you can minimize or eliminate disk swapping since the MLC Flash drives in these things are slow.
Speaking of flash drives, I replaced the tiny 4GB unit in mine with a 64GB MLC drive. ($115.00 at the time, but prices fluctuate all over the place).
They’re good little machines. My wife prefers her work-supplied MacBook, but that’s mainly a screen size issue. I use mine almost exclusively, and we also have a late model 20″ iMac and an older 12″ G4 iBook to choose from.
I laugh when I see reviews that say netbooks are only good for light surfing, email, etc. I use mine for everything but video editing and conversion, and I’m a programmer/tech guy. If I have to type a lot of stuff, I use an Apple Bluetooth keyboard, though–these little chicklet keys can slow you down.
ParticipantMy wife and I have matching ASUS 900A ($299.00 at Best Buy last fall) netbooks, and they work quite well. We run Ubuntu Linux 8.10 Intrepid; no idea if Windows does well on these machines.
If you get one of these with 1GB of RAM, spend $32.00 (shipped) on a 2GB upgrade from crucial.com It makes a big difference if you can minimize or eliminate disk swapping since the MLC Flash drives in these things are slow.
Speaking of flash drives, I replaced the tiny 4GB unit in mine with a 64GB MLC drive. ($115.00 at the time, but prices fluctuate all over the place).
They’re good little machines. My wife prefers her work-supplied MacBook, but that’s mainly a screen size issue. I use mine almost exclusively, and we also have a late model 20″ iMac and an older 12″ G4 iBook to choose from.
I laugh when I see reviews that say netbooks are only good for light surfing, email, etc. I use mine for everything but video editing and conversion, and I’m a programmer/tech guy. If I have to type a lot of stuff, I use an Apple Bluetooth keyboard, though–these little chicklet keys can slow you down.
ParticipantMy wife and I have matching ASUS 900A ($299.00 at Best Buy last fall) netbooks, and they work quite well. We run Ubuntu Linux 8.10 Intrepid; no idea if Windows does well on these machines.
If you get one of these with 1GB of RAM, spend $32.00 (shipped) on a 2GB upgrade from crucial.com It makes a big difference if you can minimize or eliminate disk swapping since the MLC Flash drives in these things are slow.
Speaking of flash drives, I replaced the tiny 4GB unit in mine with a 64GB MLC drive. ($115.00 at the time, but prices fluctuate all over the place).
They’re good little machines. My wife prefers her work-supplied MacBook, but that’s mainly a screen size issue. I use mine almost exclusively, and we also have a late model 20″ iMac and an older 12″ G4 iBook to choose from.
I laugh when I see reviews that say netbooks are only good for light surfing, email, etc. I use mine for everything but video editing and conversion, and I’m a programmer/tech guy. If I have to type a lot of stuff, I use an Apple Bluetooth keyboard, though–these little chicklet keys can slow you down.
ParticipantMy wife and I have matching ASUS 900A ($299.00 at Best Buy last fall) netbooks, and they work quite well. We run Ubuntu Linux 8.10 Intrepid; no idea if Windows does well on these machines.
If you get one of these with 1GB of RAM, spend $32.00 (shipped) on a 2GB upgrade from crucial.com It makes a big difference if you can minimize or eliminate disk swapping since the MLC Flash drives in these things are slow.
Speaking of flash drives, I replaced the tiny 4GB unit in mine with a 64GB MLC drive. ($115.00 at the time, but prices fluctuate all over the place).
They’re good little machines. My wife prefers her work-supplied MacBook, but that’s mainly a screen size issue. I use mine almost exclusively, and we also have a late model 20″ iMac and an older 12″ G4 iBook to choose from.
I laugh when I see reviews that say netbooks are only good for light surfing, email, etc. I use mine for everything but video editing and conversion, and I’m a programmer/tech guy. If I have to type a lot of stuff, I use an Apple Bluetooth keyboard, though–these little chicklet keys can slow you down.
June 30, 2009 at 9:10 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #423086Participant[quote=sunny88]
You mean one can buy short sales today at lower prices than the actual value?
[/quote]I’ll let you know when the appraisal some in on the short sale we’re buying.
My guess is that it will be right around the contract price, but you never know.
June 30, 2009 at 9:10 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #423362Participant[quote=sunny88]
You mean one can buy short sales today at lower prices than the actual value?
[/quote]I’ll let you know when the appraisal some in on the short sale we’re buying.
My guess is that it will be right around the contract price, but you never know.
June 30, 2009 at 9:10 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #423431Participant[quote=sunny88]
You mean one can buy short sales today at lower prices than the actual value?
[/quote]I’ll let you know when the appraisal some in on the short sale we’re buying.
My guess is that it will be right around the contract price, but you never know.
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