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August 31, 2007 at 10:54 AM in reply to: cannot wait anymore, buying a condo now instead of a house at 4S Ranch, and wait to buy a bigger house later? #82801
PadreBrian
ParticipantOP, have her wait just a few more months. Have her read our thread on Dubya’s announcement this morning. He is recommending to congress that people that walk way from their houses next year be forgive their tax forgiven debit. Basically that was the only thing keeping people underwater from foreclosing.
She will only have to wait just a few months more.
ParticipantI don’t mind Bush is recommending the forgiving of tax for people under water. Yes, that means less tax revenue, but it also means the next few months we are going to see the majority of people who bought in 2004 to 2006 foreclose. The market will be saturated with REO houses.
I’m saving up a nice 20% down payment, and lowball everything that I like. I’ll be busy in FEB/MAR.
(BTW, sorry i messed up the formatting)
Participant“He is also expected to support legislation that would provide tax breaks to homeowners whose mortgage debt is forgiven, in whole or in part, by lenders. The federal government currently collects taxes on the amount of a loan that is forgiven.”
Basically, Dubya has just given the green light to everyone underwater right now to walk away from their sh*tty loan/overpaid house.
I see this as a good thing. Prices will crash next early next year! lol, I’m sure My Pet Goat had something to say about all this.
August 31, 2007 at 10:11 AM in reply to: cannot wait anymore, buying a condo now instead of a house at 4S Ranch, and wait to buy a bigger house later? #82788Participantwantobuy/OP, I’m not to upset because condo prices in that area have already taken a beating. But, with that said, make sure you low ball it enough so that any more price drop for the next few months are factored in. ie 80k off what they are asking.
ParticipantHas anyone driven downtown lately? Condos up the ying yang. And building after building of new ones under construction. Another year and you can pick one up for a song.
Participant3 beds 2.0 bath 2,048 sqft, Lot 12,000 sqft Built in 1957
$520k is about right if someone picked it up today.
August 29, 2007 at 3:02 PM in reply to: The longest DOM (647+ days) without any price reduction !? #82458ParticipantIf they priced the thing right back in 2005, it would have sold with-in days. Alas, they were pigs at the trough.
ParticipantYeah, you are right, 6 weeks ago she could have sold the place. Now…it’s a lil harder. If it’s under 450k you are still okay, just mark it down 10%, which is about right, and hope Uncle Ben lowers the rates in the next week or two. Anything with conventional mortgages should sell a lil better once the rate comes down. Not really a rally, just a tiny bump before banks start dumping even more homes. So far the banks have held steady on their prices reducing things slowly. You just have to be lower than they are.
August 29, 2007 at 11:21 AM in reply to: Does it Make Sense to List Property Price at a range #82405ParticipantNo, but it makes the seller feel better. It’s one way the realtor can ease the pain to the seller that their dream price is just that.
With that said, I do hate when realtors put “will entertain between…” roflcopper
August 28, 2007 at 9:30 AM in reply to: San Diego year over year inventories down for third month in a row #81985ParticipantSD Realtor, thanks for the info. Yes, the seller playing games might be the ones to blame for the disappearing listings, then a few days later reappear. But, my contention is the game is too common for it to be the seller’s idea alone. There’s a wink-wink-nudge-nudge some where in there.
I’ll come up with a example how realtor.com only shows a select number of listings on a street…and not the full list.
August 28, 2007 at 9:30 AM in reply to: San Diego year over year inventories down for third month in a row #82121ParticipantSD Realtor, thanks for the info. Yes, the seller playing games might be the ones to blame for the disappearing listings, then a few days later reappear. But, my contention is the game is too common for it to be the seller’s idea alone. There’s a wink-wink-nudge-nudge some where in there.
I’ll come up with a example how realtor.com only shows a select number of listings on a street…and not the full list.
August 28, 2007 at 9:30 AM in reply to: San Diego year over year inventories down for third month in a row #82137ParticipantSD Realtor, thanks for the info. Yes, the seller playing games might be the ones to blame for the disappearing listings, then a few days later reappear. But, my contention is the game is too common for it to be the seller’s idea alone. There’s a wink-wink-nudge-nudge some where in there.
I’ll come up with a example how realtor.com only shows a select number of listings on a street…and not the full list.
August 27, 2007 at 2:28 PM in reply to: San Diego year over year inventories down for third month in a row #81689ParticipantYou also have to factor in the realtor.com games. The laughable thing about that is that when you use realitor.com and zoom into a known area with houses for sale only half of them are listed on realtor.com. Realtors also play tricks by having the seller remove from market for a few days, then putting it back on. They also just rotate the houses around from listing/non-listing. It’s a lil game to prevent people from low-balling…ie paying what the property is really worth.
But, if you are a realtor, then you get to see all the listings no matter the rotation.
August 27, 2007 at 2:28 PM in reply to: San Diego year over year inventories down for third month in a row #81823ParticipantYou also have to factor in the realtor.com games. The laughable thing about that is that when you use realitor.com and zoom into a known area with houses for sale only half of them are listed on realtor.com. Realtors also play tricks by having the seller remove from market for a few days, then putting it back on. They also just rotate the houses around from listing/non-listing. It’s a lil game to prevent people from low-balling…ie paying what the property is really worth.
But, if you are a realtor, then you get to see all the listings no matter the rotation.
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