[gn]

[quote=recordsclerk]1625 Pentecost can be flipped for 45K.

3532 Meade Ave #44 is the going rate for 1bd,1bth
if it is a 2 bedroom, this property can be flipped for 69K.

From this list can you buy any one property and are these the prices for individual purchases? [/quote]

Recordsclerk, yes. You can buy any one property & the prices are for individual purchases.

[gn]

[quote=recordsclerk]1625 Pentecost can be flipped for 45K.

3532 Meade Ave #44 is the going rate for 1bd,1bth
if it is a 2 bedroom, this property can be flipped for 69K.

From this list can you buy any one property and are these the prices for individual purchases? [/quote]

Recordsclerk, yes. You can buy any one property & the prices are for individual purchases.

[gn]

[quote=recordsclerk]1625 Pentecost can be flipped for 45K.

3532 Meade Ave #44 is the going rate for 1bd,1bth
if it is a 2 bedroom, this property can be flipped for 69K.

From this list can you buy any one property and are these the prices for individual purchases? [/quote]

Recordsclerk, yes. You can buy any one property & the prices are for individual purchases.

[gn]

[quote=recordsclerk]1625 Pentecost can be flipped for 45K.

3532 Meade Ave #44 is the going rate for 1bd,1bth
if it is a 2 bedroom, this property can be flipped for 69K.

From this list can you buy any one property and are these the prices for individual purchases? [/quote]

Recordsclerk, yes. You can buy any one property & the prices are for individual purchases.

[gn]

[quote=recordsclerk]1625 Pentecost can be flipped for 45K.

3532 Meade Ave #44 is the going rate for 1bd,1bth
if it is a 2 bedroom, this property can be flipped for 69K.

From this list can you buy any one property and are these the prices for individual purchases? [/quote]

Recordsclerk, yes. You can buy any one property & the prices are for individual purchases.

[gn]

patb,

An appraisal uses sale data from previous transactions. So, appraisals are inherently “backward looking”. In a buyers market, where prices are going down, the currently market price is likely to be lower than the appraisal.

When prices were going up, many buyers kept losing out to other buyers because they refuse to offer significantly more than the market price. Now, it’s the opposite. Many sellers are unable to sell because the refuse to price their houses significantly less than the appraisal.

Many sellers end up keep “chasing the market down” but never quite catch up to it even though they keep lowering their asking price.

Any experienced realtor will tell you that “It’s the buyers who set the price, NOT the seller”.

The only way to stop this cycle is to price your house significantly below market & let the buyers “tell you how much your house is worth”.

[gn]

patb,

An appraisal uses sale data from previous transactions. So, appraisals are inherently “backward looking”. In a buyers market, where prices are going down, the currently market price is likely to be lower than the appraisal.

When prices were going up, many buyers kept losing out to other buyers because they refuse to offer significantly more than the market price. Now, it’s the opposite. Many sellers are unable to sell because the refuse to price their houses significantly less than the appraisal.

Many sellers end up keep “chasing the market down” but never quite catch up to it even though they keep lowering their asking price.

Any experienced realtor will tell you that “It’s the buyers who set the price, NOT the seller”.

The only way to stop this cycle is to price your house significantly below market & let the buyers “tell you how much your house is worth”.

[gn]

patb,

An appraisal uses sale data from previous transactions. So, appraisals are inherently “backward looking”. In a buyers market, where prices are going down, the currently market price is likely to be lower than the appraisal.

When prices were going up, many buyers kept losing out to other buyers because they refuse to offer significantly more than the market price. Now, it’s the opposite. Many sellers are unable to sell because the refuse to price their houses significantly less than the appraisal.

Many sellers end up keep “chasing the market down” but never quite catch up to it even though they keep lowering their asking price.

Any experienced realtor will tell you that “It’s the buyers who set the price, NOT the seller”.

The only way to stop this cycle is to price your house significantly below market & let the buyers “tell you how much your house is worth”.

[gn]

patb,

An appraisal uses sale data from previous transactions. So, appraisals are inherently “backward looking”. In a buyers market, where prices are going down, the currently market price is likely to be lower than the appraisal.

When prices were going up, many buyers kept losing out to other buyers because they refuse to offer significantly more than the market price. Now, it’s the opposite. Many sellers are unable to sell because the refuse to price their houses significantly less than the appraisal.

Many sellers end up keep “chasing the market down” but never quite catch up to it even though they keep lowering their asking price.

Any experienced realtor will tell you that “It’s the buyers who set the price, NOT the seller”.

The only way to stop this cycle is to price your house significantly below market & let the buyers “tell you how much your house is worth”.

[gn]

patb,

An appraisal uses sale data from previous transactions. So, appraisals are inherently “backward looking”. In a buyers market, where prices are going down, the currently market price is likely to be lower than the appraisal.

When prices were going up, many buyers kept losing out to other buyers because they refuse to offer significantly more than the market price. Now, it’s the opposite. Many sellers are unable to sell because the refuse to price their houses significantly less than the appraisal.

Many sellers end up keep “chasing the market down” but never quite catch up to it even though they keep lowering their asking price.

Any experienced realtor will tell you that “It’s the buyers who set the price, NOT the seller”.

The only way to stop this cycle is to price your house significantly below market & let the buyers “tell you how much your house is worth”.

[gn]

[quote=SD Realtor]From a prgmatic standpoint there is little difference from buying one of these homes verses buying any other foreclosure. Do your diligence, make sure title is clear, do not expect any disclosure information, and be wary but you can do okay. [/quote]

SD Realtor, thanks for replying. I have a few questions:

– You said “make sure the title is clear”. Lenders are required to “clean up” the title before selling the property, right ?

– You said “Do your diligence”. I think hiring a professional to inspect the property is a must. Let’s say there’s a property from the list that I’m interested in buying, but it cannot be viewed or inspected. Then, should I steer clear of it ?

[gn]

[quote=SD Realtor]From a prgmatic standpoint there is little difference from buying one of these homes verses buying any other foreclosure. Do your diligence, make sure title is clear, do not expect any disclosure information, and be wary but you can do okay. [/quote]

SD Realtor, thanks for replying. I have a few questions:

– You said “make sure the title is clear”. Lenders are required to “clean up” the title before selling the property, right ?

– You said “Do your diligence”. I think hiring a professional to inspect the property is a must. Let’s say there’s a property from the list that I’m interested in buying, but it cannot be viewed or inspected. Then, should I steer clear of it ?

[gn]

[quote=SD Realtor]From a prgmatic standpoint there is little difference from buying one of these homes verses buying any other foreclosure. Do your diligence, make sure title is clear, do not expect any disclosure information, and be wary but you can do okay. [/quote]

SD Realtor, thanks for replying. I have a few questions:

– You said “make sure the title is clear”. Lenders are required to “clean up” the title before selling the property, right ?

– You said “Do your diligence”. I think hiring a professional to inspect the property is a must. Let’s say there’s a property from the list that I’m interested in buying, but it cannot be viewed or inspected. Then, should I steer clear of it ?

[gn]

[quote=SD Realtor]From a prgmatic standpoint there is little difference from buying one of these homes verses buying any other foreclosure. Do your diligence, make sure title is clear, do not expect any disclosure information, and be wary but you can do okay. [/quote]

SD Realtor, thanks for replying. I have a few questions:

– You said “make sure the title is clear”. Lenders are required to “clean up” the title before selling the property, right ?

– You said “Do your diligence”. I think hiring a professional to inspect the property is a must. Let’s say there’s a property from the list that I’m interested in buying, but it cannot be viewed or inspected. Then, should I steer clear of it ?

[gn]

[quote=SD Realtor]From a prgmatic standpoint there is little difference from buying one of these homes verses buying any other foreclosure. Do your diligence, make sure title is clear, do not expect any disclosure information, and be wary but you can do okay. [/quote]

SD Realtor, thanks for replying. I have a few questions:

– You said “make sure the title is clear”. Lenders are required to “clean up” the title before selling the property, right ?

– You said “Do your diligence”. I think hiring a professional to inspect the property is a must. Let’s say there’s a property from the list that I’m interested in buying, but it cannot be viewed or inspected. Then, should I steer clear of it ?

[Author]

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