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Ren
Participant[quote=temeculaguy]… that is exactly what happened with the 18 bids, however it was for 314k list.[/quote]
This one?
http://www.redfin.com/CA/Temecula/45314-Tioga-St-92592/home/6432588
If so, I’m a little confused about the sales history. The winning offer was only $303k?
Participant[quote=temeculaguy]… that is exactly what happened with the 18 bids, however it was for 314k list.[/quote]
This one?
http://www.redfin.com/CA/Temecula/45314-Tioga-St-92592/home/6432588
If so, I’m a little confused about the sales history. The winning offer was only $303k?
Participant[quote=temeculaguy]… that is exactly what happened with the 18 bids, however it was for 314k list.[/quote]
This one?
http://www.redfin.com/CA/Temecula/45314-Tioga-St-92592/home/6432588
If so, I’m a little confused about the sales history. The winning offer was only $303k?
Participant[quote=temeculaguy]… that is exactly what happened with the 18 bids, however it was for 314k list.[/quote]
This one?
http://www.redfin.com/CA/Temecula/45314-Tioga-St-92592/home/6432588
If so, I’m a little confused about the sales history. The winning offer was only $303k?
ParticipantYup, the people buying now in Temecula are people who are either unaware of the direction prices are going, or who cannot wait for whatever reason. They see those properties as great deals, and they are, compared to the peak. But this winter, and fall/winter of ’09, prices will be lower. Many of the people buying then will be different – more experienced investors, I would think, with more cash. However, even if there are still a lot of people making offers, I think prices will be low enough that you can make an offer better than theirs and still be saving compared to the current prices. If I see an awesome Fairways house on the course for $250k, I won’t mind offering substantially more than asking.
ParticipantYup, the people buying now in Temecula are people who are either unaware of the direction prices are going, or who cannot wait for whatever reason. They see those properties as great deals, and they are, compared to the peak. But this winter, and fall/winter of ’09, prices will be lower. Many of the people buying then will be different – more experienced investors, I would think, with more cash. However, even if there are still a lot of people making offers, I think prices will be low enough that you can make an offer better than theirs and still be saving compared to the current prices. If I see an awesome Fairways house on the course for $250k, I won’t mind offering substantially more than asking.
ParticipantYup, the people buying now in Temecula are people who are either unaware of the direction prices are going, or who cannot wait for whatever reason. They see those properties as great deals, and they are, compared to the peak. But this winter, and fall/winter of ’09, prices will be lower. Many of the people buying then will be different – more experienced investors, I would think, with more cash. However, even if there are still a lot of people making offers, I think prices will be low enough that you can make an offer better than theirs and still be saving compared to the current prices. If I see an awesome Fairways house on the course for $250k, I won’t mind offering substantially more than asking.
ParticipantYup, the people buying now in Temecula are people who are either unaware of the direction prices are going, or who cannot wait for whatever reason. They see those properties as great deals, and they are, compared to the peak. But this winter, and fall/winter of ’09, prices will be lower. Many of the people buying then will be different – more experienced investors, I would think, with more cash. However, even if there are still a lot of people making offers, I think prices will be low enough that you can make an offer better than theirs and still be saving compared to the current prices. If I see an awesome Fairways house on the course for $250k, I won’t mind offering substantially more than asking.
ParticipantYup, the people buying now in Temecula are people who are either unaware of the direction prices are going, or who cannot wait for whatever reason. They see those properties as great deals, and they are, compared to the peak. But this winter, and fall/winter of ’09, prices will be lower. Many of the people buying then will be different – more experienced investors, I would think, with more cash. However, even if there are still a lot of people making offers, I think prices will be low enough that you can make an offer better than theirs and still be saving compared to the current prices. If I see an awesome Fairways house on the course for $250k, I won’t mind offering substantially more than asking.
Participant[quote=92126_guy]So my house was worth approx. 600k at the time and I bought in mid 500’s. [/quote]
Just an FYI, a property is generally worth what you pay for it, no more or less. You got it for mid-500’s, so that’s what it was worth at the time, regardless of agent claims and appraisals.
At a wild, fairly educated guess, I believe your place and comps will see the mid-to-high 200’s in the next few years, and several more years after that to recover SOME of what you paid. Don’t expect to see $500k again for a very long time.
Participant[quote=92126_guy]So my house was worth approx. 600k at the time and I bought in mid 500’s. [/quote]
Just an FYI, a property is generally worth what you pay for it, no more or less. You got it for mid-500’s, so that’s what it was worth at the time, regardless of agent claims and appraisals.
At a wild, fairly educated guess, I believe your place and comps will see the mid-to-high 200’s in the next few years, and several more years after that to recover SOME of what you paid. Don’t expect to see $500k again for a very long time.
Participant[quote=92126_guy]So my house was worth approx. 600k at the time and I bought in mid 500’s. [/quote]
Just an FYI, a property is generally worth what you pay for it, no more or less. You got it for mid-500’s, so that’s what it was worth at the time, regardless of agent claims and appraisals.
At a wild, fairly educated guess, I believe your place and comps will see the mid-to-high 200’s in the next few years, and several more years after that to recover SOME of what you paid. Don’t expect to see $500k again for a very long time.
Participant[quote=92126_guy]So my house was worth approx. 600k at the time and I bought in mid 500’s. [/quote]
Just an FYI, a property is generally worth what you pay for it, no more or less. You got it for mid-500’s, so that’s what it was worth at the time, regardless of agent claims and appraisals.
At a wild, fairly educated guess, I believe your place and comps will see the mid-to-high 200’s in the next few years, and several more years after that to recover SOME of what you paid. Don’t expect to see $500k again for a very long time.
Participant[quote=92126_guy]So my house was worth approx. 600k at the time and I bought in mid 500’s. [/quote]
Just an FYI, a property is generally worth what you pay for it, no more or less. You got it for mid-500’s, so that’s what it was worth at the time, regardless of agent claims and appraisals.
At a wild, fairly educated guess, I believe your place and comps will see the mid-to-high 200’s in the next few years, and several more years after that to recover SOME of what you paid. Don’t expect to see $500k again for a very long time.
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