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SD Realtor
Participantdarn I cannot even one up you. well said.
D Realtor
October 15, 2007 at 5:07 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #89176Participant23109VC my point in this response was simply that I was really puzzled about your post because of the back and forth you had when you were considering the purchase of the home. In fact many posters warned you of the exact events that you are seeing in the neighborhood right now. My advice to you was simply to follow your own line of reasoning that you used when you first decided to move forward with the purchase. If for some reason, that line of thought is not applicable anymore then so be it. However, I firmly do believe that you will see more decline and it will most likely be severe. So make your decision based on that, you know what I mean? I kind of figured back when you made the decision to buy this home, that you performed a worst case scenario of continued decline and if that continued decline does happen, that you could live with it and be okay with it.
Really though, I still do believe a home is a home and not an investment. I am not saying anyone should buy now or sell now. I am saying you buy a home to live in a home. If you are going to buy now, do so knowing the market conditions, eyes wide open, knowing that there is a high probability of saving money if you wait, and only you can answer if a renting lifestyle is acceptable. I rent and I hate it and it causes alot of strife but I get by. Same story for sellers. If you are going to sell now do the same, know what you may have to do to get the home to sell.
SD Realtor
October 15, 2007 at 5:07 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #89185Participant23109VC my point in this response was simply that I was really puzzled about your post because of the back and forth you had when you were considering the purchase of the home. In fact many posters warned you of the exact events that you are seeing in the neighborhood right now. My advice to you was simply to follow your own line of reasoning that you used when you first decided to move forward with the purchase. If for some reason, that line of thought is not applicable anymore then so be it. However, I firmly do believe that you will see more decline and it will most likely be severe. So make your decision based on that, you know what I mean? I kind of figured back when you made the decision to buy this home, that you performed a worst case scenario of continued decline and if that continued decline does happen, that you could live with it and be okay with it.
Really though, I still do believe a home is a home and not an investment. I am not saying anyone should buy now or sell now. I am saying you buy a home to live in a home. If you are going to buy now, do so knowing the market conditions, eyes wide open, knowing that there is a high probability of saving money if you wait, and only you can answer if a renting lifestyle is acceptable. I rent and I hate it and it causes alot of strife but I get by. Same story for sellers. If you are going to sell now do the same, know what you may have to do to get the home to sell.
SD Realtor
ParticipantActually my personal belief is that more often then not, it is the agents clients that drive the foolishness. Contrary to what many people think or write here, it is the buyer who says, yeah I want it so call them and feel them out or let them know I am gonna write an offer up and then the buyer gets fickle. So Rustico I am with you… I do get alot of calls promising an offer is coming or giving verbals on the phone or what have you and many of them do not materialize into writing. In all cases I always encourage it to come on paper, even if it is a lowball, just to give it creedence.
As with most subjects though Rus, I agree with you and my experiences match your 10%, maybe a little more, like 20% but nothing as much as this thread has reported. I feel like something is missing here in Raptors case, you know what I mean? However, I am removed from the situation so I can only shrug and say write it up and have the agent deliver it…
ParticipantActually my personal belief is that more often then not, it is the agents clients that drive the foolishness. Contrary to what many people think or write here, it is the buyer who says, yeah I want it so call them and feel them out or let them know I am gonna write an offer up and then the buyer gets fickle. So Rustico I am with you… I do get alot of calls promising an offer is coming or giving verbals on the phone or what have you and many of them do not materialize into writing. In all cases I always encourage it to come on paper, even if it is a lowball, just to give it creedence.
As with most subjects though Rus, I agree with you and my experiences match your 10%, maybe a little more, like 20% but nothing as much as this thread has reported. I feel like something is missing here in Raptors case, you know what I mean? However, I am removed from the situation so I can only shrug and say write it up and have the agent deliver it…
ParticipantRaptor I have been out of town and just got back…
First off… ALWAYS PUT THE OFFER IN WRITING!!! No matter what your agent tells you, or what the listing agent tells you, or no matter what anyone tells you…. put it in writing. If it is not in writing it is not an offer. Period and there are no fuzzy areas here.
Per Rustico’s post submit backup offers to the homes you are interested in if YOU REALLY WANT them. If you have done your due diligence and seen them, then yeah give it a shot. Note that submitting a lowball offer as a backup lends itself to a low probality of acceptance but it cannot hurt and is painless to do.
As to why none of the other properties you were interested did not pan out… well they never had offers submitted. Just make sure that you tell your agent, okay I like this property let’s write something up. Be firm, and it will happen. The agent works for you, not the other way around.
SD Realtor
ParticipantRaptor I have been out of town and just got back…
First off… ALWAYS PUT THE OFFER IN WRITING!!! No matter what your agent tells you, or what the listing agent tells you, or no matter what anyone tells you…. put it in writing. If it is not in writing it is not an offer. Period and there are no fuzzy areas here.
Per Rustico’s post submit backup offers to the homes you are interested in if YOU REALLY WANT them. If you have done your due diligence and seen them, then yeah give it a shot. Note that submitting a lowball offer as a backup lends itself to a low probality of acceptance but it cannot hurt and is painless to do.
As to why none of the other properties you were interested did not pan out… well they never had offers submitted. Just make sure that you tell your agent, okay I like this property let’s write something up. Be firm, and it will happen. The agent works for you, not the other way around.
SD Realtor
ParticipantFLU I took a peek at the tax rool on the MLS. It is a speculative statement on my part. I see a 440k loan originated in 05 and then another 150k in 06. So that is 590k. So at 599k sales price they would need to come in with cash or short it. My bet is they would come in with cash. My bet before that bet is that they will nix a 599k offer this early in the listing period.
As you know I like to bet.
ParticipantFLU I took a peek at the tax rool on the MLS. It is a speculative statement on my part. I see a 440k loan originated in 05 and then another 150k in 06. So that is 590k. So at 599k sales price they would need to come in with cash or short it. My bet is they would come in with cash. My bet before that bet is that they will nix a 599k offer this early in the listing period.
As you know I like to bet.
ParticipantGood to see… It is in Costa Del Sol… they are packed in tight there but nonetheless it is good to see… By what the tax roll implies it seems at 599k it would be a short sale or the owner would have to come in with cash. Costa Del Sol is right next to the 56 off CV rd.
SD Realtor
ParticipantGood to see… It is in Costa Del Sol… they are packed in tight there but nonetheless it is good to see… By what the tax roll implies it seems at 599k it would be a short sale or the owner would have to come in with cash. Costa Del Sol is right next to the 56 off CV rd.
SD Realtor
October 12, 2007 at 3:23 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88553Participant23VC why would you bail? You purchased the home after going through the angst of many a post and I am sure many a calculation on your part. You knew going in that the market was indeed going to depreciate but I thought that your purchase was a long term decision… that you would be in the home come hell or high water for many years.
Honestly I am puzzled and became puzzled when you wrote that you are thinking about exit strategies if the sht hits the fan. If? If? You know it is not if but when.
Repeat this phrase 1000 times. A house is not an investment. You bought this home on the premise that it was NOT in investment but because you wanted to buy a home and live in a home. It seems that some of the parameters that you listed in order to justify your original purchase are not true anymore. However if you think that prices will not drop more, and not drop by alot more… and you are going to let that eat at you… then by all means you should sell now instead of wait for later.
SD Realtor
October 12, 2007 at 3:23 PM in reply to: Will honest people start doing dirty/crooked things to bail out of their houses #88559Participant23VC why would you bail? You purchased the home after going through the angst of many a post and I am sure many a calculation on your part. You knew going in that the market was indeed going to depreciate but I thought that your purchase was a long term decision… that you would be in the home come hell or high water for many years.
Honestly I am puzzled and became puzzled when you wrote that you are thinking about exit strategies if the sht hits the fan. If? If? You know it is not if but when.
Repeat this phrase 1000 times. A house is not an investment. You bought this home on the premise that it was NOT in investment but because you wanted to buy a home and live in a home. It seems that some of the parameters that you listed in order to justify your original purchase are not true anymore. However if you think that prices will not drop more, and not drop by alot more… and you are going to let that eat at you… then by all means you should sell now instead of wait for later.
SD Realtor
ParticipantOkay one last piece of information… Pert and Raptor sometimes you will see things posted on Piggington that are much more wishful thinking and speculative rather then based on facts.
So on the Sandicor MLS there are 74 active homes for sale when you do a search and type in Santaluz in the subdivision as the search string. Of those 74 active homes, I took a quick look at the remarks and confidential remarks section… usually for reo homes and short sales there will be a remark indicating so… Out of the 74 homes there was 1 reo sale and 1 short sale.
That does not mean there are not more. A more thorough search would be to look at the tax record to see who the owner is (look for a bank or a reconveyance company as the current owner) but I do not have the time or motivation to do that. Raptor your agent can do that for you.
Anyways there also may be more reo properties or short sales but they are not on the MLS. I doubt very much that there are that many though… give it time…maybe a year or two. Just trying to post facts…more or less…
SD Realtor
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