[NotCranky]

“The influx of REOs definitely drive down the price, but the quality of a lot of REOs is in doubt and some of them might have been severely damaged. Price may be low in these kind of properties but who wants them??”

Me.

Wealth, is in residential real estate in a few places.
Location
The dirt.
Cash flow derived from rents.
Any tax break.
Sweat.
Benefits to future income stream/wealth building IF equity grows and rents go up relative to aquisition and holding costs.
ect.

It is not in…

nice cabinets,
Nice paint.
Granite counter tops etc. etc.

The prices you say are holding up are doing so to a large degree because of the perceived element of luxury, not value. From an economic point of view,I would be concerned about buying those more than the low priced “undesirable” stuff for the next few years. If you can afford the luxury, go for it.

[NotCranky]

Wow look how time flies the last post on here(this thread)was almost two months ago.

I hope everything is well with you and your family sdrealtor.

Cheers

[NotCranky]

Wow look how time flies the last post on here(this thread)was almost two months ago.

I hope everything is well with you and your family sdrealtor.

Cheers

[NotCranky]

Wow look how time flies the last post on here(this thread)was almost two months ago.

I hope everything is well with you and your family sdrealtor.

Cheers

[NotCranky]

Wow look how time flies the last post on here(this thread)was almost two months ago.

I hope everything is well with you and your family sdrealtor.

Cheers

[NotCranky]

Wow look how time flies the last post on here(this thread)was almost two months ago.

I hope everything is well with you and your family sdrealtor.

Cheers

[NotCranky]

Yo jonny,
I do admire the gentlemen on here that disagree with you but if I were not a liquored up j6p, I would say it the way you did.

Another thing that didn’t exist in 1929 to the same extent that it does today is baby boomers and pre- baby boomers with pensions. They might be fiat money pensions but they are going to get paid just the same.

[NotCranky]

Yo jonny,
I do admire the gentlemen on here that disagree with you but if I were not a liquored up j6p, I would say it the way you did.

Another thing that didn’t exist in 1929 to the same extent that it does today is baby boomers and pre- baby boomers with pensions. They might be fiat money pensions but they are going to get paid just the same.

[NotCranky]

Yo jonny,
I do admire the gentlemen on here that disagree with you but if I were not a liquored up j6p, I would say it the way you did.

Another thing that didn’t exist in 1929 to the same extent that it does today is baby boomers and pre- baby boomers with pensions. They might be fiat money pensions but they are going to get paid just the same.

[NotCranky]

Yo jonny,
I do admire the gentlemen on here that disagree with you but if I were not a liquored up j6p, I would say it the way you did.

Another thing that didn’t exist in 1929 to the same extent that it does today is baby boomers and pre- baby boomers with pensions. They might be fiat money pensions but they are going to get paid just the same.

[NotCranky]

Yo jonny,
I do admire the gentlemen on here that disagree with you but if I were not a liquored up j6p, I would say it the way you did.

Another thing that didn’t exist in 1929 to the same extent that it does today is baby boomers and pre- baby boomers with pensions. They might be fiat money pensions but they are going to get paid just the same.

[NotCranky]

“I don’t even think we are half way to a bottom yet. Flame on, but there is still too many homes out there at too high of prices.”

This is the way I think the bottom comes in.

Currently there is a ton of inventory and three houses of that inventory are going to sell at lows for the cycle this month. Next month 10 will do the same. A few months later 30. You get he idea. Later 50 but there is still a ton of inventory. Prices get to where a very large percentage are selling near cycle lows but inventory is still pretty up there. Eventually for all practical purposes the PRICE correction is over. Where is inventory? I think it could be some what elevated still? I was looking for a chart that might reflect the lag between these two items that we can expect. It is a question more than a statement, your post made me wonder.

The numbers are totally concocted to express a view contrary to the, everyone is a stupid knife catcher until I say it isn’t so. As good as it gets deals will be a combination of rates and price for some as opposed to a pure price bottom.(that would be pretty hard to time so it makes these aggressive rate hyping realtors laughable). I think we should not be too haughty because people are starting to make good deals on purchases. Kind of hard to tell which ones but they will trickle in. Some of those people just bought into future bragging rights instead of catching a knife.The rest caught a knife which sunk to varying depths, some will be lethal and some will be mere flesh wounds.

Just food for thought. Flaming welcome as always.

[NotCranky]

“I don’t even think we are half way to a bottom yet. Flame on, but there is still too many homes out there at too high of prices.”

This is the way I think the bottom comes in.

Currently there is a ton of inventory and three houses of that inventory are going to sell at lows for the cycle this month. Next month 10 will do the same. A few months later 30. You get he idea. Later 50 but there is still a ton of inventory. Prices get to where a very large percentage are selling near cycle lows but inventory is still pretty up there. Eventually for all practical purposes the PRICE correction is over. Where is inventory? I think it could be some what elevated still? I was looking for a chart that might reflect the lag between these two items that we can expect. It is a question more than a statement, your post made me wonder.

The numbers are totally concocted to express a view contrary to the, everyone is a stupid knife catcher until I say it isn’t so. As good as it gets deals will be a combination of rates and price for some as opposed to a pure price bottom.(that would be pretty hard to time so it makes these aggressive rate hyping realtors laughable). I think we should not be too haughty because people are starting to make good deals on purchases. Kind of hard to tell which ones but they will trickle in. Some of those people just bought into future bragging rights instead of catching a knife.The rest caught a knife which sunk to varying depths, some will be lethal and some will be mere flesh wounds.

Just food for thought. Flaming welcome as always.

[NotCranky]

“I don’t even think we are half way to a bottom yet. Flame on, but there is still too many homes out there at too high of prices.”

This is the way I think the bottom comes in.

Currently there is a ton of inventory and three houses of that inventory are going to sell at lows for the cycle this month. Next month 10 will do the same. A few months later 30. You get he idea. Later 50 but there is still a ton of inventory. Prices get to where a very large percentage are selling near cycle lows but inventory is still pretty up there. Eventually for all practical purposes the PRICE correction is over. Where is inventory? I think it could be some what elevated still? I was looking for a chart that might reflect the lag between these two items that we can expect. It is a question more than a statement, your post made me wonder.

The numbers are totally concocted to express a view contrary to the, everyone is a stupid knife catcher until I say it isn’t so. As good as it gets deals will be a combination of rates and price for some as opposed to a pure price bottom.(that would be pretty hard to time so it makes these aggressive rate hyping realtors laughable). I think we should not be too haughty because people are starting to make good deals on purchases. Kind of hard to tell which ones but they will trickle in. Some of those people just bought into future bragging rights instead of catching a knife.The rest caught a knife which sunk to varying depths, some will be lethal and some will be mere flesh wounds.

Just food for thought. Flaming welcome as always.

[NotCranky]

“I don’t even think we are half way to a bottom yet. Flame on, but there is still too many homes out there at too high of prices.”

This is the way I think the bottom comes in.

Currently there is a ton of inventory and three houses of that inventory are going to sell at lows for the cycle this month. Next month 10 will do the same. A few months later 30. You get he idea. Later 50 but there is still a ton of inventory. Prices get to where a very large percentage are selling near cycle lows but inventory is still pretty up there. Eventually for all practical purposes the PRICE correction is over. Where is inventory? I think it could be some what elevated still? I was looking for a chart that might reflect the lag between these two items that we can expect. It is a question more than a statement, your post made me wonder.

The numbers are totally concocted to express a view contrary to the, everyone is a stupid knife catcher until I say it isn’t so. As good as it gets deals will be a combination of rates and price for some as opposed to a pure price bottom.(that would be pretty hard to time so it makes these aggressive rate hyping realtors laughable). I think we should not be too haughty because people are starting to make good deals on purchases. Kind of hard to tell which ones but they will trickle in. Some of those people just bought into future bragging rights instead of catching a knife.The rest caught a knife which sunk to varying depths, some will be lethal and some will be mere flesh wounds.

Just food for thought. Flaming welcome as always.

[Author]

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