[(former)FormerSanDiegan]

I am not a real estate agent, but I have sold a few houses of mine over the years through agents.

Throwing it out there on Zillow as a FSBO does not give the the highest probability of the highest price. Sure, you got someone interested and you might sell it. But if you had put it out there in the system where there are a bunch of hungry agents talking buyers into buying your house so that they can feed their family it would be exposed to more buyers and perhaps higher bids. Use their greed to your advantage. You don’t have to like the MLS system or the way its set up but you can work it to your advantage. You would get maximum exposure and you might have three bids by now.

Why go half-assed to a limited market to save 5%. The truth is that for most houses you can’t really even estimate the price to within 5% (at least that is my experience when selling my personal and rental properties over the years) until you put it out there on the market. (Unless its a fairly recent tract where the houses are still all the same)

As for waiting for the Spring to place it with an agent if it doesn’t sell as a FSBO … in my opinion the optimal time to put it on the market under the current conditions is the first week or two of February.

Here’s why :
There isn’t that much inventory right now. People are “waiting until Spring” or fixing up a few things before they put their houses on the market. They want to list in April, but Spring Break rolls around, so they put it off a few weeks. Then it’s May and they finally get it out there. Pretty soon its June and all of a sudden you have tons of properties coming on the market, your competition gets harder.

Just my 2 cents.

P.S. – Don’t know your reason for selling, but I wouldn’t be selling in this market unless you are moving up or out and need the cash from the sale to do so.

[(former)FormerSanDiegan]

It’s funny how the boomers were lazy/freeloader/protesters in the late 60’s/ early 70’s, then the entitled greedy “me” generation in the 80’s, and are now the hardworking wise generation.

Seems to me that the Gen-X’ers and the Gen-Y “millenials” are on similar arcs.

[(former)FormerSanDiegan]

As someone who was born in that lull between the boomers and echo boomers, this is great news. We can buy houses from downsizing Boomers to rent out to the echo boomers (for the rest of their lives, evidently). That’s the kind of major shift in wealth distribution I’m looking for.

[(former)FormerSanDiegan]

[quote=EJ]

@patb – I am not sure the damages are completely mitigated. I fear I will need to do more work on the french drains which is a huge pain. Yes, I would have bid lower, or more likely, backed out altogether had I known about the previous flooding. Drainage problems are not easily corrected, it may flood again if we reach a greater rainfall rate. I will never really know and it will always be on the back of my mind.

[/quote]

The drains were there when you purchased, so why would you not expect to do some work related to those drains in the future. patb has a good point. You can’t successfully sue unless you have damages.

So, what are your damages ?

[(former)FormerSanDiegan]

You should have them sign a daily /weekly rental agreement, with rates that quadruple after a certain date.

[(former)FormerSanDiegan]

As we sit beside the yule tide log, and enjoy the warmth of the holiday season (thanks Glenfiddich), let’s take time to remember and dwell on that annual ritual where we look for the coming of the foreclosure tsunami.

http://www.cnbc.com/id/45682960

[(former)FormerSanDiegan]

[quote=sdduuuude][quote=paramount]BUY REAL ESTATE NOW

Brought to you by NAR[/quote]

Because now is a good time to buy or sell a home.[/quote]

While I can’t say anything for NAR, I don’t think it is a good time to sell a home. 2005-2006 was a good time to sell. If you still own something and have survived the past 6 years, it might be the worst time to sell since 1997.

[(former)FormerSanDiegan]

They also appear to have overestimated the avialable inventory as well.

[(former)FormerSanDiegan]

briansd1 – My original post was a bit light on details, but I am looking more at residential real estate as a landlord (or for personal use).

The commercial cycle (at least in San Diego) seems to usually lag well-behind the residential cycle. But, I really haven’t a clue regarding viability of commercial/industrial property right now (or ever).

[(former)FormerSanDiegan]

The Buy call also takes into account:
1. Carrying costs
2. Expected return (including rents)
3. Relative return to alternatives
4. Risk/reward ratio

The nominal price bottom in 2009 occured when we were still losing jobs, rents were declining and interest rates were higher than they are now. These factors are much more favorable now heading into 2012.

[(former)FormerSanDiegan]

[quote=CA renter][quote=sdduuuude]Uh huh.

http://piggington.com/welcome_to_the_bottom

O.o[/quote]

LOL! 🙂

Which is it, FSD? 2009 or 2011?

Personally, my money is on December 2012.[/quote]

I was correct (so far) on the bottom call. April 17, 2009 at 9:37 pm. is still the bottom in terms of nominal price.

That is different than making a call to buy real estate.

[(former)FormerSanDiegan]

… or wrong.

[(former)FormerSanDiegan]

… or aliens ?

[(former)FormerSanDiegan]

[quote=walterwhite]What if the house is totalled in an earthquake without insurance. Can the bank sue for the difference between land value and mortgage?[/quote]

What if it IS covered by insurance and is wiped out by an act of war ?

[(former)FormerSanDiegan]

The owner already refinanced 4 months ago making it non-recourse. Whether they refinance again has no bearing.

Therefore the point that lifeizfunhuh made is a moot point in this case.

[Author]

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