Forum Replies Created
-
AuthorPosts
-
February 22, 2008 at 3:12 AM in reply to: Are you looking to get in on the ground floor? Think again. #157770February 22, 2008 at 3:12 AM in reply to: Are you looking to get in on the ground floor? Think again. #157779
pemeliza
ParticipantGreat posts.
For me and DW it was easier just to come up with a price point for what we want and be ready for it if it comes.
As we see it there are only 3 possibly outcomes:
1.) The price point will arrive we will buy and just happen to have timed the bottom (extremely unlikley)
2.) The price point will arrive we will buy and the prices will continue to decrease or stay flat.
3.) Our price point will never arrive.Our criteria are:
1.) Great Schools
2.) 2500+ ft single level 3000+ ft if double level
3.) price : 600-650k
4.) 4+ BR
5.) Good lot (decent size, quiet, no power lines)After that we have a whole list of “like to haves”.
Rather than trying to predict the market, we based these
criteria on what it would take for us to move away from our current situation and be happy about it. We will be paying cash so are immune to financing issues.Some areas we are looking at are probably 20% apart from us in price …
Frankly timing the bottom (or top) just isn’t something we are very good at.
February 22, 2008 at 3:12 AM in reply to: Are you looking to get in on the ground floor? Think again. #157851ParticipantGreat posts.
For me and DW it was easier just to come up with a price point for what we want and be ready for it if it comes.
As we see it there are only 3 possibly outcomes:
1.) The price point will arrive we will buy and just happen to have timed the bottom (extremely unlikley)
2.) The price point will arrive we will buy and the prices will continue to decrease or stay flat.
3.) Our price point will never arrive.Our criteria are:
1.) Great Schools
2.) 2500+ ft single level 3000+ ft if double level
3.) price : 600-650k
4.) 4+ BR
5.) Good lot (decent size, quiet, no power lines)After that we have a whole list of “like to haves”.
Rather than trying to predict the market, we based these
criteria on what it would take for us to move away from our current situation and be happy about it. We will be paying cash so are immune to financing issues.Some areas we are looking at are probably 20% apart from us in price …
Frankly timing the bottom (or top) just isn’t something we are very good at.
Participant“You have to think that with 7 offers all at the same price, the buyers know what they are talking about. That is, the true market value of the house is really $1.150,”
With 7 offers at 1.15, the current market value is indeed probably somewhat higher that the 1.15. Of course, I don’t see the problem–just counter them all and see who wants it the most.
Even if the “current” market value of your home is 1.3 it is not hard to see why people would want to bid 10% lower given that a 10% further decline from here is “in the bag” to quote a well known realtor from the OC. I’m actually rather surprised you see such a small discount as a “lowball”. To me a lowball would be about 950.
It does certainly appear that there is a large contingent of buyers waiting to pull the trigger even in the million plus price point. Reminds me of the house at 1453 Heritage in Encinitas Ranch. I was 1 of 11 offers. Three of them including the highest was all cash. Of course that property was priced 100k below the 2003 builder price so I wasn’t surprised by the activity level.
If I was a seller I would be damn sure I had a very well qualified buyer before I accepted any offers. The rates are jumping all over the place. Maybe some of these 7 buyers locked in a rate and need to act fast.
Participant“You have to think that with 7 offers all at the same price, the buyers know what they are talking about. That is, the true market value of the house is really $1.150,”
With 7 offers at 1.15, the current market value is indeed probably somewhat higher that the 1.15. Of course, I don’t see the problem–just counter them all and see who wants it the most.
Even if the “current” market value of your home is 1.3 it is not hard to see why people would want to bid 10% lower given that a 10% further decline from here is “in the bag” to quote a well known realtor from the OC. I’m actually rather surprised you see such a small discount as a “lowball”. To me a lowball would be about 950.
It does certainly appear that there is a large contingent of buyers waiting to pull the trigger even in the million plus price point. Reminds me of the house at 1453 Heritage in Encinitas Ranch. I was 1 of 11 offers. Three of them including the highest was all cash. Of course that property was priced 100k below the 2003 builder price so I wasn’t surprised by the activity level.
If I was a seller I would be damn sure I had a very well qualified buyer before I accepted any offers. The rates are jumping all over the place. Maybe some of these 7 buyers locked in a rate and need to act fast.
Participant“You have to think that with 7 offers all at the same price, the buyers know what they are talking about. That is, the true market value of the house is really $1.150,”
With 7 offers at 1.15, the current market value is indeed probably somewhat higher that the 1.15. Of course, I don’t see the problem–just counter them all and see who wants it the most.
Even if the “current” market value of your home is 1.3 it is not hard to see why people would want to bid 10% lower given that a 10% further decline from here is “in the bag” to quote a well known realtor from the OC. I’m actually rather surprised you see such a small discount as a “lowball”. To me a lowball would be about 950.
It does certainly appear that there is a large contingent of buyers waiting to pull the trigger even in the million plus price point. Reminds me of the house at 1453 Heritage in Encinitas Ranch. I was 1 of 11 offers. Three of them including the highest was all cash. Of course that property was priced 100k below the 2003 builder price so I wasn’t surprised by the activity level.
If I was a seller I would be damn sure I had a very well qualified buyer before I accepted any offers. The rates are jumping all over the place. Maybe some of these 7 buyers locked in a rate and need to act fast.
Participant“You have to think that with 7 offers all at the same price, the buyers know what they are talking about. That is, the true market value of the house is really $1.150,”
With 7 offers at 1.15, the current market value is indeed probably somewhat higher that the 1.15. Of course, I don’t see the problem–just counter them all and see who wants it the most.
Even if the “current” market value of your home is 1.3 it is not hard to see why people would want to bid 10% lower given that a 10% further decline from here is “in the bag” to quote a well known realtor from the OC. I’m actually rather surprised you see such a small discount as a “lowball”. To me a lowball would be about 950.
It does certainly appear that there is a large contingent of buyers waiting to pull the trigger even in the million plus price point. Reminds me of the house at 1453 Heritage in Encinitas Ranch. I was 1 of 11 offers. Three of them including the highest was all cash. Of course that property was priced 100k below the 2003 builder price so I wasn’t surprised by the activity level.
If I was a seller I would be damn sure I had a very well qualified buyer before I accepted any offers. The rates are jumping all over the place. Maybe some of these 7 buyers locked in a rate and need to act fast.
Participant“You have to think that with 7 offers all at the same price, the buyers know what they are talking about. That is, the true market value of the house is really $1.150,”
With 7 offers at 1.15, the current market value is indeed probably somewhat higher that the 1.15. Of course, I don’t see the problem–just counter them all and see who wants it the most.
Even if the “current” market value of your home is 1.3 it is not hard to see why people would want to bid 10% lower given that a 10% further decline from here is “in the bag” to quote a well known realtor from the OC. I’m actually rather surprised you see such a small discount as a “lowball”. To me a lowball would be about 950.
It does certainly appear that there is a large contingent of buyers waiting to pull the trigger even in the million plus price point. Reminds me of the house at 1453 Heritage in Encinitas Ranch. I was 1 of 11 offers. Three of them including the highest was all cash. Of course that property was priced 100k below the 2003 builder price so I wasn’t surprised by the activity level.
If I was a seller I would be damn sure I had a very well qualified buyer before I accepted any offers. The rates are jumping all over the place. Maybe some of these 7 buyers locked in a rate and need to act fast.
ParticipantThe busy street is the ONLY thing holding me back on it. I think it will sell quickly between 600k and 650k. The house sold for 900k in 2005 which was an insane price.
It is hard to hold back on this one but I feel that patience will be rewarded in this market.
ParticipantThe busy street is the ONLY thing holding me back on it. I think it will sell quickly between 600k and 650k. The house sold for 900k in 2005 which was an insane price.
It is hard to hold back on this one but I feel that patience will be rewarded in this market.
ParticipantThe busy street is the ONLY thing holding me back on it. I think it will sell quickly between 600k and 650k. The house sold for 900k in 2005 which was an insane price.
It is hard to hold back on this one but I feel that patience will be rewarded in this market.
ParticipantThe busy street is the ONLY thing holding me back on it. I think it will sell quickly between 600k and 650k. The house sold for 900k in 2005 which was an insane price.
It is hard to hold back on this one but I feel that patience will be rewarded in this market.
ParticipantThe busy street is the ONLY thing holding me back on it. I think it will sell quickly between 600k and 650k. The house sold for 900k in 2005 which was an insane price.
It is hard to hold back on this one but I feel that patience will be rewarded in this market.
ParticipantRegarding 6462. Nice house. Quiet street. The vacant lot on the other side of the street turned me off. I agree though that the house looks nice from the street. To each his own.
My agent told me that the copper under the house was recently cut and stolen …
I want the view out the back of the house and protected. The little foreclosure on Madra was the only house I saw that had the kind of view I am looking for in Del Cerro. But as many people pointed out Madra is a busy street.
ParticipantRegarding 6462. Nice house. Quiet street. The vacant lot on the other side of the street turned me off. I agree though that the house looks nice from the street. To each his own.
My agent told me that the copper under the house was recently cut and stolen …
I want the view out the back of the house and protected. The little foreclosure on Madra was the only house I saw that had the kind of view I am looking for in Del Cerro. But as many people pointed out Madra is a busy street.
-
AuthorPosts