[(former)FormerSanDiegan]

Regarding Reparations.

This would be a complicated subject. If descendants of one group need to pay reparations to descendants of another group it can get complicated.

Take Barack Obama for example:
He is the son of a white woman from Kansas and a black Kenyan immigrant. Should he pay reparations or receive them ?
He is not the descendant of slaves, but may be the descendant of slave owners [Ref 1].

Perhaps we should compensate all descendants of women in this country because they were taxed without representation prior to obtaining their right to vote.

I think we should get over it as a society and focus on getting rid of current discrimination and social intolerance of all types (well, except discrimination against stupid people, let’s keep that).

[Ref 1]
http://www.baltimoresun.com/news/nationworld/politics/bal-te.obama02mar02,0,3453027.story

[(former)FormerSanDiegan]

Regarding Reparations.

This would be a complicated subject. If descendants of one group need to pay reparations to descendants of another group it can get complicated.

Take Barack Obama for example:
He is the son of a white woman from Kansas and a black Kenyan immigrant. Should he pay reparations or receive them ?
He is not the descendant of slaves, but may be the descendant of slave owners [Ref 1].

Perhaps we should compensate all descendants of women in this country because they were taxed without representation prior to obtaining their right to vote.

I think we should get over it as a society and focus on getting rid of current discrimination and social intolerance of all types (well, except discrimination against stupid people, let’s keep that).

[Ref 1]
http://www.baltimoresun.com/news/nationworld/politics/bal-te.obama02mar02,0,3453027.story

[(former)FormerSanDiegan]

Here’s a strategy that we used back in 2000 when there were multiple offers on a house we ended up buying (and eventually sold in 2005).

Use an escalator clause.
Offer some initial amount, with an escalator of $1000 above any higher offer up to some limit, with the clause that they must produce proof of the higher offer in writing. Make sure the higher limit is the most you would pay.

When we did this our offer at the initial amount was accepted.
Either the “other buyer” flaked or the agent was bluffing, or the other offer was lower in the first place.

FWIW, at that time we bought the initial price we set was about $270K, and our escalator went in 500 increments to 280K, which we were willing to pay.

[(former)FormerSanDiegan]

Here’s a strategy that we used back in 2000 when there were multiple offers on a house we ended up buying (and eventually sold in 2005).

Use an escalator clause.
Offer some initial amount, with an escalator of $1000 above any higher offer up to some limit, with the clause that they must produce proof of the higher offer in writing. Make sure the higher limit is the most you would pay.

When we did this our offer at the initial amount was accepted.
Either the “other buyer” flaked or the agent was bluffing, or the other offer was lower in the first place.

FWIW, at that time we bought the initial price we set was about $270K, and our escalator went in 500 increments to 280K, which we were willing to pay.

[(former)FormerSanDiegan]

Here’s a strategy that we used back in 2000 when there were multiple offers on a house we ended up buying (and eventually sold in 2005).

Use an escalator clause.
Offer some initial amount, with an escalator of $1000 above any higher offer up to some limit, with the clause that they must produce proof of the higher offer in writing. Make sure the higher limit is the most you would pay.

When we did this our offer at the initial amount was accepted.
Either the “other buyer” flaked or the agent was bluffing, or the other offer was lower in the first place.

FWIW, at that time we bought the initial price we set was about $270K, and our escalator went in 500 increments to 280K, which we were willing to pay.

[(former)FormerSanDiegan]

Here’s a strategy that we used back in 2000 when there were multiple offers on a house we ended up buying (and eventually sold in 2005).

Use an escalator clause.
Offer some initial amount, with an escalator of $1000 above any higher offer up to some limit, with the clause that they must produce proof of the higher offer in writing. Make sure the higher limit is the most you would pay.

When we did this our offer at the initial amount was accepted.
Either the “other buyer” flaked or the agent was bluffing, or the other offer was lower in the first place.

FWIW, at that time we bought the initial price we set was about $270K, and our escalator went in 500 increments to 280K, which we were willing to pay.

[(former)FormerSanDiegan]

Here’s a strategy that we used back in 2000 when there were multiple offers on a house we ended up buying (and eventually sold in 2005).

Use an escalator clause.
Offer some initial amount, with an escalator of $1000 above any higher offer up to some limit, with the clause that they must produce proof of the higher offer in writing. Make sure the higher limit is the most you would pay.

When we did this our offer at the initial amount was accepted.
Either the “other buyer” flaked or the agent was bluffing, or the other offer was lower in the first place.

FWIW, at that time we bought the initial price we set was about $270K, and our escalator went in 500 increments to 280K, which we were willing to pay.

[(former)FormerSanDiegan]

“Should we include shadow inventory”

Of course. It is imminent future inventory. It is pent up supply. It is something that will be on the market. It would be deceiving people to not take into consideration that there will be massive amounts of properties for sale. The banks can’t sit on them forever. They will eventually be unleashed to the market.

If you are going to include shadow inventory, why not go all the way and include all houses in existence ? The average person moves every 5-7 years, so they will eventually be on the market. Even those who think they can hold out forever cannot. They can’t hold on forever because they will eventually die, unleashing these houses on the market. Add these to the potential foreclosures and you get about 34 years of inventory in San Diego county. So, the real potential inventory is much larger than these predictions.

[(former)FormerSanDiegan]

“Should we include shadow inventory”

Of course. It is imminent future inventory. It is pent up supply. It is something that will be on the market. It would be deceiving people to not take into consideration that there will be massive amounts of properties for sale. The banks can’t sit on them forever. They will eventually be unleashed to the market.

If you are going to include shadow inventory, why not go all the way and include all houses in existence ? The average person moves every 5-7 years, so they will eventually be on the market. Even those who think they can hold out forever cannot. They can’t hold on forever because they will eventually die, unleashing these houses on the market. Add these to the potential foreclosures and you get about 34 years of inventory in San Diego county. So, the real potential inventory is much larger than these predictions.

[(former)FormerSanDiegan]

“Should we include shadow inventory”

Of course. It is imminent future inventory. It is pent up supply. It is something that will be on the market. It would be deceiving people to not take into consideration that there will be massive amounts of properties for sale. The banks can’t sit on them forever. They will eventually be unleashed to the market.

If you are going to include shadow inventory, why not go all the way and include all houses in existence ? The average person moves every 5-7 years, so they will eventually be on the market. Even those who think they can hold out forever cannot. They can’t hold on forever because they will eventually die, unleashing these houses on the market. Add these to the potential foreclosures and you get about 34 years of inventory in San Diego county. So, the real potential inventory is much larger than these predictions.

[(former)FormerSanDiegan]

“Should we include shadow inventory”

Of course. It is imminent future inventory. It is pent up supply. It is something that will be on the market. It would be deceiving people to not take into consideration that there will be massive amounts of properties for sale. The banks can’t sit on them forever. They will eventually be unleashed to the market.

If you are going to include shadow inventory, why not go all the way and include all houses in existence ? The average person moves every 5-7 years, so they will eventually be on the market. Even those who think they can hold out forever cannot. They can’t hold on forever because they will eventually die, unleashing these houses on the market. Add these to the potential foreclosures and you get about 34 years of inventory in San Diego county. So, the real potential inventory is much larger than these predictions.

[(former)FormerSanDiegan]

“Should we include shadow inventory”

Of course. It is imminent future inventory. It is pent up supply. It is something that will be on the market. It would be deceiving people to not take into consideration that there will be massive amounts of properties for sale. The banks can’t sit on them forever. They will eventually be unleashed to the market.

If you are going to include shadow inventory, why not go all the way and include all houses in existence ? The average person moves every 5-7 years, so they will eventually be on the market. Even those who think they can hold out forever cannot. They can’t hold on forever because they will eventually die, unleashing these houses on the market. Add these to the potential foreclosures and you get about 34 years of inventory in San Diego county. So, the real potential inventory is much larger than these predictions.

[(former)FormerSanDiegan]

This Mortgage guy is underestimating the potential supply.

Since real estate always goes down, who wants to own? Therefore I would include all homes in San Diego as potential inventory. By that metric we have about 34.5 years of inventory.

/tongue-in-cheek

There’s almost always got to be motivation behind manipulation of stats and this guy doesn’t have any.

Hmmm, so getting publicity to potentially get on TV as an analyst and generating web traffic aren’t motivation ?

[(former)FormerSanDiegan]

This Mortgage guy is underestimating the potential supply.

Since real estate always goes down, who wants to own? Therefore I would include all homes in San Diego as potential inventory. By that metric we have about 34.5 years of inventory.

/tongue-in-cheek

There’s almost always got to be motivation behind manipulation of stats and this guy doesn’t have any.

Hmmm, so getting publicity to potentially get on TV as an analyst and generating web traffic aren’t motivation ?

[(former)FormerSanDiegan]

This Mortgage guy is underestimating the potential supply.

Since real estate always goes down, who wants to own? Therefore I would include all homes in San Diego as potential inventory. By that metric we have about 34.5 years of inventory.

/tongue-in-cheek

There’s almost always got to be motivation behind manipulation of stats and this guy doesn’t have any.

Hmmm, so getting publicity to potentially get on TV as an analyst and generating web traffic aren’t motivation ?

[Author]

Posts