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no_such_reality
ParticipantRead the fine print and you’ll see that the properties have a reserve and the Auctioneer will bid until reserve is met. I don’t know if by Auctioneer they mean the guy doing the calling or Auctioneer “company” which would mean the audience is laced with sanctioned shills. That part about consecutive bids leads me to believe the audience is going to be filled with shills.
“3. BIDDING AND BUYING AT THE AUCTION
Reserve Price. All Properties have a Reserve Price, meaning the Seller of each Property has established an unpublished, minimum selling price. The starting bid is not the Reserve Price. In order to become the Winning Bidder for a Property, a Bidder must meet or exceed the Reserve Price and have the highest bid. The Auctioneer may open bidding on any Property by placing a bid on behalf of the Seller. The Auctioneer may further bid on behalf of the Seller, up to the amount of the Reserve Price, by placing successive or consecutive bids for a Property, or by placing bids in response to other bidders. ”
IMHO, sucker them in with low-ball listed prices, get the hype flowing with rapid bid ups to the reserve and let someone blind step into “winning”.
ParticipantI don’t think the article was that bad. However, am I the only one doing the math on his representing 100 houses currently. With a 50 hour work week, he is still only averaging 30 minutes a house. If the house lingers for a year and then sell, he’ll probably put all of 30 hours in on it. For this, he expects 3%, 6% if he can double end it.
Participant“The state secured 60-to-90-day freezes on foreclosure for most of the protesters.”
Woohoo like 60-90 days is going to make a differece to somebody with a toxic mortgage.
ParticipantInformation Tech, to be more specific, software engineering. The 70K entry
Fresh grads aren’t coming in at $70K. Try $50K. Here’s the salary range for a Software Engineer I in San Diego.
ParticipantHmm, I suspect shell fragments in the eye. Better rush him to the MASH.
ParticipantLong-hair pretty much copped to it, he’s developing in Texas, when asked, would he do it on the Florida Coast, -No. Southern California – No.
ParticipantA revolving door at 18-24 month increments until bottom is reached and the market really does start to rebound.
ParticipantYou’d think when they’re getting gouged at $20,000 more every fifth buyer coming through the door that they’d stop and maybe figure out that not one of the 100 people in line is trying to buy it to live in it.
I’ll honestly admit, I have no sympathy at all for any of them.
ParticipantAnybody know when Fannie Mae, Ginnie Mae etc, updated their website affordability calculators and started pimping unaffordable loans?
If you go to Fannie Mae’s MortgageContent.net site and use their Calculator and tell it you have no other debt, they’ll tell you that you can afford a loan with payments equal to 50% of your gross income.
ParticipantOverly optimistic.
40% of gross on housing breaks most people.
The guideline is 28% for conservative, and 33% for agressive stances on housing expense.
April 28, 2007 at 1:19 PM in reply to: Last month SD RE Prices up 2.1% sales up 34% . . . is market firming???? #51373ParticipantIf Walmart’s sales were to decline 30% but Nordstrom’s went up 2% would any economist declare the economy is fine?
Hmm, let me check my Reagan Administration economists. 🙂
ParticipantI think it’s noise. The Euro is stonger, the Pound is stronger, but the Yen is essentially the same, as is the Mex Peso.
By stonger, I mean 8% over the last year. It also happens to be 8% total over the last two years. And of course, flat compared to Q1 2005 Q4 2004, about 8% up compared to 2004 …
Sorry, but it’s not like the magically wek dollar is suddenly making everything more expensive.
It just give the talking heads something to babble about.
ParticipantThe builders know this and are using this fact to undercut the resellers by offering lower prices.
Actually, the builders are using it to get much higher prices for their smaller build out.
A home that is 15-20% below resales looks like a deal. When resales come down 15% to match, the builder will move another 15% down.
Rinse, repeat.
ParticipantThe solution is simple, but Americans won’t do it. We can do three things:
1. We have to quit buying imported stuff, clothes, electronics, oil.
2. We have to export more stuff and services.
3. We have to make it ourselves.
Frankly, I don’t think Americans can stomach giving up their SUV, Starbucks or paying more for their clothes, LCD TVs or other massive collection of junk that they equate with good living.
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