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peterb
ParticipantFind an agent that understands you are going to be making low-ball offers. This is how you can feel-out the market over time. Just keep probing the price sensativity with offers. You’ll get a feel for reality after about 4 months of this. Then you can plan accordingly as to your strategy. This is what I do when I’m serious about an area that I want to own in. You find deals by making offers.
Quite often the person they put in the open house may be a new agent or hungry for new clients. Utilizing this has worked well for me in the past.
ParticipantFind an agent that understands you are going to be making low-ball offers. This is how you can feel-out the market over time. Just keep probing the price sensativity with offers. You’ll get a feel for reality after about 4 months of this. Then you can plan accordingly as to your strategy. This is what I do when I’m serious about an area that I want to own in. You find deals by making offers.
Quite often the person they put in the open house may be a new agent or hungry for new clients. Utilizing this has worked well for me in the past.
ParticipantFind an agent that understands you are going to be making low-ball offers. This is how you can feel-out the market over time. Just keep probing the price sensativity with offers. You’ll get a feel for reality after about 4 months of this. Then you can plan accordingly as to your strategy. This is what I do when I’m serious about an area that I want to own in. You find deals by making offers.
Quite often the person they put in the open house may be a new agent or hungry for new clients. Utilizing this has worked well for me in the past.
November 2, 2008 at 9:04 AM in reply to: Hurry! Get Your Foreclosed Propety While You Still Can Spin #296596ParticipantIt is one theory. And it will appeal to some people who arent paying too much attention to the world around them.
Too bad the writer does not mention all the Alt A, Prime and Jumbo Prime loans that are in default right now and headed for foreclosure in 2009. Nor does the writer mention the 7.7% unemployment level in CA that’s still rising.2009 may be the worst year for real estate in the history of CA. And the writer of this is making it sound like the market will turning around about then. Caveat emptor.
November 2, 2008 at 9:04 AM in reply to: Hurry! Get Your Foreclosed Propety While You Still Can Spin #296939ParticipantIt is one theory. And it will appeal to some people who arent paying too much attention to the world around them.
Too bad the writer does not mention all the Alt A, Prime and Jumbo Prime loans that are in default right now and headed for foreclosure in 2009. Nor does the writer mention the 7.7% unemployment level in CA that’s still rising.2009 may be the worst year for real estate in the history of CA. And the writer of this is making it sound like the market will turning around about then. Caveat emptor.
November 2, 2008 at 9:04 AM in reply to: Hurry! Get Your Foreclosed Propety While You Still Can Spin #296957ParticipantIt is one theory. And it will appeal to some people who arent paying too much attention to the world around them.
Too bad the writer does not mention all the Alt A, Prime and Jumbo Prime loans that are in default right now and headed for foreclosure in 2009. Nor does the writer mention the 7.7% unemployment level in CA that’s still rising.2009 may be the worst year for real estate in the history of CA. And the writer of this is making it sound like the market will turning around about then. Caveat emptor.
November 2, 2008 at 9:04 AM in reply to: Hurry! Get Your Foreclosed Propety While You Still Can Spin #296970ParticipantIt is one theory. And it will appeal to some people who arent paying too much attention to the world around them.
Too bad the writer does not mention all the Alt A, Prime and Jumbo Prime loans that are in default right now and headed for foreclosure in 2009. Nor does the writer mention the 7.7% unemployment level in CA that’s still rising.2009 may be the worst year for real estate in the history of CA. And the writer of this is making it sound like the market will turning around about then. Caveat emptor.
November 2, 2008 at 9:04 AM in reply to: Hurry! Get Your Foreclosed Propety While You Still Can Spin #297013ParticipantIt is one theory. And it will appeal to some people who arent paying too much attention to the world around them.
Too bad the writer does not mention all the Alt A, Prime and Jumbo Prime loans that are in default right now and headed for foreclosure in 2009. Nor does the writer mention the 7.7% unemployment level in CA that’s still rising.2009 may be the worst year for real estate in the history of CA. And the writer of this is making it sound like the market will turning around about then. Caveat emptor.
ParticipantTrouble right now is that there’s this little thing that’s came back into the loan business in the last year…..risk! And it’s looking like the party pooper. Defaults on home loans in CA hit 75,000 last month. And it’s growing. The last top for foreclosures was 1996 at 15,000 in one month. So I’d say lenders are looking at real estate as a pretty darn risky loan right now. Especially when you consider how the prices are going down for homes. So eventhough currency is at an all-time low cost for the banks, thanks to TPTB, lenders are not lowering rates nor are they all that motivated to make a mortgage loan.
Most lenders should actually be outta business right now if regulations were being enforced.ParticipantTrouble right now is that there’s this little thing that’s came back into the loan business in the last year…..risk! And it’s looking like the party pooper. Defaults on home loans in CA hit 75,000 last month. And it’s growing. The last top for foreclosures was 1996 at 15,000 in one month. So I’d say lenders are looking at real estate as a pretty darn risky loan right now. Especially when you consider how the prices are going down for homes. So eventhough currency is at an all-time low cost for the banks, thanks to TPTB, lenders are not lowering rates nor are they all that motivated to make a mortgage loan.
Most lenders should actually be outta business right now if regulations were being enforced.ParticipantTrouble right now is that there’s this little thing that’s came back into the loan business in the last year…..risk! And it’s looking like the party pooper. Defaults on home loans in CA hit 75,000 last month. And it’s growing. The last top for foreclosures was 1996 at 15,000 in one month. So I’d say lenders are looking at real estate as a pretty darn risky loan right now. Especially when you consider how the prices are going down for homes. So eventhough currency is at an all-time low cost for the banks, thanks to TPTB, lenders are not lowering rates nor are they all that motivated to make a mortgage loan.
Most lenders should actually be outta business right now if regulations were being enforced.ParticipantTrouble right now is that there’s this little thing that’s came back into the loan business in the last year…..risk! And it’s looking like the party pooper. Defaults on home loans in CA hit 75,000 last month. And it’s growing. The last top for foreclosures was 1996 at 15,000 in one month. So I’d say lenders are looking at real estate as a pretty darn risky loan right now. Especially when you consider how the prices are going down for homes. So eventhough currency is at an all-time low cost for the banks, thanks to TPTB, lenders are not lowering rates nor are they all that motivated to make a mortgage loan.
Most lenders should actually be outta business right now if regulations were being enforced.ParticipantTrouble right now is that there’s this little thing that’s came back into the loan business in the last year…..risk! And it’s looking like the party pooper. Defaults on home loans in CA hit 75,000 last month. And it’s growing. The last top for foreclosures was 1996 at 15,000 in one month. So I’d say lenders are looking at real estate as a pretty darn risky loan right now. Especially when you consider how the prices are going down for homes. So eventhough currency is at an all-time low cost for the banks, thanks to TPTB, lenders are not lowering rates nor are they all that motivated to make a mortgage loan.
Most lenders should actually be outta business right now if regulations were being enforced.ParticipantIf the HELOC was essentially a second mortgage used to purchase the home, it should be considered part of the purchase money loan package. Purchase money loans are non-recourse in CA. By law, I believe.
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