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SD Realtor
ParticipantLike I said, not many flippers come in with 300k cash.
I would be willing to bet this was not a flip.
SD Realtor
ParticipantLike I said, not many flippers come in with 300k cash.
I would be willing to bet this was not a flip.
SD Realtor
ParticipantLike I said, not many flippers come in with 300k cash.
I would be willing to bet this was not a flip.
SD Realtor
ParticipantThis was a true sale. There was also a credit of 8500 from the seller to the buyer. Not a short sale nor an reo.
This seller got it.
SD Realtor
ParticipantThis was a true sale. There was also a credit of 8500 from the seller to the buyer. Not a short sale nor an reo.
This seller got it.
SD Realtor
ParticipantThis was a true sale. There was also a credit of 8500 from the seller to the buyer. Not a short sale nor an reo.
This seller got it.
SD Realtor
ParticipantThis was a true sale. There was also a credit of 8500 from the seller to the buyer. Not a short sale nor an reo.
This seller got it.
SD Realtor
ParticipantThis was a true sale. There was also a credit of 8500 from the seller to the buyer. Not a short sale nor an reo.
This seller got it.
SD Realtor
ParticipantBSR it is hard to say. I have said it before and will say it once more, that is, I believe there is a fundamental misunderstanding about buyer behavior on this site. I cannot argue about the fundamental message from many on this site about how much money can be saved by waiting to buy. No argument at all. Yet there were still 25,000 homes sold this year! That does not include FSBO’s and perhaps other new home sales right? So what drives all these people? Surely many of them know the market is down and moving downward… so what drove them?
It is not all about the money right? I know many people who bought this year. Many of them are quite successful, intelligent, and understand the market dynamics and direction. The factors that drove them to buying obviously outweighed the depreciation factor.
Don’t get me wrong, I am not advocating a strong buyers market or anything like that…
*******
Sorry for the detour… getting back to your question…who knows what the heck happened with Stella. There is another REO nearby on Mesa Norte that is not on the MLS yet and it went REO awhile ago. I posted about this home last spring because the owners tried to avoid foreclosure by transferring slices of title to entities they would start up. It was quite interesting. Eventually they were chased down and lost the home.
As for Stella yeah he closed escrow in 7/05 and put it on the market by 8/06. Was it pure speculation? Perhaps. Hard to say man… Most speculators don’t throw down 300k of thier own money though… so for this case my read would be doubtful but that is just a guess.
SD Realtor
ParticipantBSR it is hard to say. I have said it before and will say it once more, that is, I believe there is a fundamental misunderstanding about buyer behavior on this site. I cannot argue about the fundamental message from many on this site about how much money can be saved by waiting to buy. No argument at all. Yet there were still 25,000 homes sold this year! That does not include FSBO’s and perhaps other new home sales right? So what drives all these people? Surely many of them know the market is down and moving downward… so what drove them?
It is not all about the money right? I know many people who bought this year. Many of them are quite successful, intelligent, and understand the market dynamics and direction. The factors that drove them to buying obviously outweighed the depreciation factor.
Don’t get me wrong, I am not advocating a strong buyers market or anything like that…
*******
Sorry for the detour… getting back to your question…who knows what the heck happened with Stella. There is another REO nearby on Mesa Norte that is not on the MLS yet and it went REO awhile ago. I posted about this home last spring because the owners tried to avoid foreclosure by transferring slices of title to entities they would start up. It was quite interesting. Eventually they were chased down and lost the home.
As for Stella yeah he closed escrow in 7/05 and put it on the market by 8/06. Was it pure speculation? Perhaps. Hard to say man… Most speculators don’t throw down 300k of thier own money though… so for this case my read would be doubtful but that is just a guess.
SD Realtor
ParticipantBSR it is hard to say. I have said it before and will say it once more, that is, I believe there is a fundamental misunderstanding about buyer behavior on this site. I cannot argue about the fundamental message from many on this site about how much money can be saved by waiting to buy. No argument at all. Yet there were still 25,000 homes sold this year! That does not include FSBO’s and perhaps other new home sales right? So what drives all these people? Surely many of them know the market is down and moving downward… so what drove them?
It is not all about the money right? I know many people who bought this year. Many of them are quite successful, intelligent, and understand the market dynamics and direction. The factors that drove them to buying obviously outweighed the depreciation factor.
Don’t get me wrong, I am not advocating a strong buyers market or anything like that…
*******
Sorry for the detour… getting back to your question…who knows what the heck happened with Stella. There is another REO nearby on Mesa Norte that is not on the MLS yet and it went REO awhile ago. I posted about this home last spring because the owners tried to avoid foreclosure by transferring slices of title to entities they would start up. It was quite interesting. Eventually they were chased down and lost the home.
As for Stella yeah he closed escrow in 7/05 and put it on the market by 8/06. Was it pure speculation? Perhaps. Hard to say man… Most speculators don’t throw down 300k of thier own money though… so for this case my read would be doubtful but that is just a guess.
SD Realtor
ParticipantBSR it is hard to say. I have said it before and will say it once more, that is, I believe there is a fundamental misunderstanding about buyer behavior on this site. I cannot argue about the fundamental message from many on this site about how much money can be saved by waiting to buy. No argument at all. Yet there were still 25,000 homes sold this year! That does not include FSBO’s and perhaps other new home sales right? So what drives all these people? Surely many of them know the market is down and moving downward… so what drove them?
It is not all about the money right? I know many people who bought this year. Many of them are quite successful, intelligent, and understand the market dynamics and direction. The factors that drove them to buying obviously outweighed the depreciation factor.
Don’t get me wrong, I am not advocating a strong buyers market or anything like that…
*******
Sorry for the detour… getting back to your question…who knows what the heck happened with Stella. There is another REO nearby on Mesa Norte that is not on the MLS yet and it went REO awhile ago. I posted about this home last spring because the owners tried to avoid foreclosure by transferring slices of title to entities they would start up. It was quite interesting. Eventually they were chased down and lost the home.
As for Stella yeah he closed escrow in 7/05 and put it on the market by 8/06. Was it pure speculation? Perhaps. Hard to say man… Most speculators don’t throw down 300k of thier own money though… so for this case my read would be doubtful but that is just a guess.
SD Realtor
ParticipantBSR it is hard to say. I have said it before and will say it once more, that is, I believe there is a fundamental misunderstanding about buyer behavior on this site. I cannot argue about the fundamental message from many on this site about how much money can be saved by waiting to buy. No argument at all. Yet there were still 25,000 homes sold this year! That does not include FSBO’s and perhaps other new home sales right? So what drives all these people? Surely many of them know the market is down and moving downward… so what drove them?
It is not all about the money right? I know many people who bought this year. Many of them are quite successful, intelligent, and understand the market dynamics and direction. The factors that drove them to buying obviously outweighed the depreciation factor.
Don’t get me wrong, I am not advocating a strong buyers market or anything like that…
*******
Sorry for the detour… getting back to your question…who knows what the heck happened with Stella. There is another REO nearby on Mesa Norte that is not on the MLS yet and it went REO awhile ago. I posted about this home last spring because the owners tried to avoid foreclosure by transferring slices of title to entities they would start up. It was quite interesting. Eventually they were chased down and lost the home.
As for Stella yeah he closed escrow in 7/05 and put it on the market by 8/06. Was it pure speculation? Perhaps. Hard to say man… Most speculators don’t throw down 300k of thier own money though… so for this case my read would be doubtful but that is just a guess.
SD Realtor
January 1, 2008 at 5:10 PM in reply to: If you think the “Mother of all recessions” isn’t coming #127392ParticipantInteresting article Ray. Personally I do feel we will (or already are) in a recession. The severity will be a tough call. Yes it may be a whopper or perhaps Ben and PP team will do whatever it takes to keep the consumerism lifeline intact. I simply do not know. To me employment is the big factor, and if engineers and 100k salaried people (and yes you all know who you are) start losing jobs things will indeed become precarious.
I think that there is a sense of omnipotence that many engineers and young professionals earning big money that are in the 20-40’s category have. Perhaps it is because they have not been through tough times or maybe they have but have always weathered the storm.
Now, with that sourpuss outlook I also do inherently pull for the home team. Something in me always tends to think that skilled motivated people can and will get by even when things are tough. In 2001 engineering jobs were hard to come by but you didn’t see many engineers working at home depot. Same with the early 90s.
Thanks to the other posters who have good knowledge of the stats like gdp and the “official” meaning of inflation. It doesn’t matter to me that the government tells me inflation is 3 or 30% because I know what I pay to SDGE and every few days at the pump and it is alot more then what I used to pay. So I guess I have the SDR inflation reading and that is all I care about.
So yeah perhaps it will be a mother of all recessions. Yes I inherently don’t really trust our leaders because I know they are looking out for them, not for me. However I am resourceful and I would bet many who read this site are as well.
SD Realtor
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