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SD Realtor
ParticipantAN our Texana property went? Hmmm… 520 huh? Crap…
Seems like there were a few actual buyers…
SD Realtor
Participantbsr I kind of agree with Stan a little here. One thing that doesn’t quite jive with your logic to me is that all these foreclosed homes will “eventually” fall into rental space. I am puzzled for a few reasons. One, buying income property is harder to finance then owner occupied. At the moment there are VERY few properties that pencil out as rentals even in the best of credit environments. Now we are in a much more aggressive credit crunch making it even harder for rentals to pencil out. Also in order for housing on teh whole to find price reductions all the foreclosures coming on the market need to sit awhile and then face massive price cuts. So when you say the foreclosed homes eventually fall into rental space, things kind of don’t align to me and the argument gets blurry. Is it, massive foreclosures that sit for awhile, flood the inventory and bring pricing down, or is it massive foreclosures don’t reduce to much because they are bought up and become rentals?
IMO I think most prudent investors who buy income property will wait until these properties pencil out substantially better then they do now.
Just my guess…
SD Realtor
Participantbsr I kind of agree with Stan a little here. One thing that doesn’t quite jive with your logic to me is that all these foreclosed homes will “eventually” fall into rental space. I am puzzled for a few reasons. One, buying income property is harder to finance then owner occupied. At the moment there are VERY few properties that pencil out as rentals even in the best of credit environments. Now we are in a much more aggressive credit crunch making it even harder for rentals to pencil out. Also in order for housing on teh whole to find price reductions all the foreclosures coming on the market need to sit awhile and then face massive price cuts. So when you say the foreclosed homes eventually fall into rental space, things kind of don’t align to me and the argument gets blurry. Is it, massive foreclosures that sit for awhile, flood the inventory and bring pricing down, or is it massive foreclosures don’t reduce to much because they are bought up and become rentals?
IMO I think most prudent investors who buy income property will wait until these properties pencil out substantially better then they do now.
Just my guess…
SD Realtor
Participantbsr I kind of agree with Stan a little here. One thing that doesn’t quite jive with your logic to me is that all these foreclosed homes will “eventually” fall into rental space. I am puzzled for a few reasons. One, buying income property is harder to finance then owner occupied. At the moment there are VERY few properties that pencil out as rentals even in the best of credit environments. Now we are in a much more aggressive credit crunch making it even harder for rentals to pencil out. Also in order for housing on teh whole to find price reductions all the foreclosures coming on the market need to sit awhile and then face massive price cuts. So when you say the foreclosed homes eventually fall into rental space, things kind of don’t align to me and the argument gets blurry. Is it, massive foreclosures that sit for awhile, flood the inventory and bring pricing down, or is it massive foreclosures don’t reduce to much because they are bought up and become rentals?
IMO I think most prudent investors who buy income property will wait until these properties pencil out substantially better then they do now.
Just my guess…
SD Realtor
ParticipantHad to bail out with the family and am back… Just enter the area you want to search but hit statistics instead of search. It is a simple cut and past from there.
SD Realtor
ParticipantHad to bail out with the family and am back… Just enter the area you want to search but hit statistics instead of search. It is a simple cut and past from there.
SD Realtor
ParticipantHad to bail out with the family and am back… Just enter the area you want to search but hit statistics instead of search. It is a simple cut and past from there.
SD Realtor
ParticipantFLU after she bailed out I sent her email letting her know politely that if there is anything I could do to help her out to sell her home to let me know. She responded back asking me for a recommendation. I told her that my first recommendation would be to price the home at what I suggested when we first spoke over the phone before she listed which was in the mid 400’s if she was really wanting to sell.
She sent me an email telling me I had no idea how nice her home was, that it was by far the most elegant home in the complex and that the market would be far better next year. She said that I do a disservice to sellers by trying to get people to just dump their homes for nothing and that my estimates for sale were below all of the other professionals she spoke to and to make sure I never solicit her again!
re the 3/3… I take it you mean 12627. It is an REO and it is priced at 549k. It used to be at 589k. It is still active on the market. (if this is the one you meant)
SD Realtor
ParticipantFLU after she bailed out I sent her email letting her know politely that if there is anything I could do to help her out to sell her home to let me know. She responded back asking me for a recommendation. I told her that my first recommendation would be to price the home at what I suggested when we first spoke over the phone before she listed which was in the mid 400’s if she was really wanting to sell.
She sent me an email telling me I had no idea how nice her home was, that it was by far the most elegant home in the complex and that the market would be far better next year. She said that I do a disservice to sellers by trying to get people to just dump their homes for nothing and that my estimates for sale were below all of the other professionals she spoke to and to make sure I never solicit her again!
re the 3/3… I take it you mean 12627. It is an REO and it is priced at 549k. It used to be at 589k. It is still active on the market. (if this is the one you meant)
SD Realtor
ParticipantFLU after she bailed out I sent her email letting her know politely that if there is anything I could do to help her out to sell her home to let me know. She responded back asking me for a recommendation. I told her that my first recommendation would be to price the home at what I suggested when we first spoke over the phone before she listed which was in the mid 400’s if she was really wanting to sell.
She sent me an email telling me I had no idea how nice her home was, that it was by far the most elegant home in the complex and that the market would be far better next year. She said that I do a disservice to sellers by trying to get people to just dump their homes for nothing and that my estimates for sale were below all of the other professionals she spoke to and to make sure I never solicit her again!
re the 3/3… I take it you mean 12627. It is an REO and it is priced at 549k. It used to be at 589k. It is still active on the market. (if this is the one you meant)
SD Realtor
Participantmmmm….business sense… hard to say…I really see nothing at the moment. For sure though I am not as adept with regards to development like yourselves and others. I know what I don’t know…
So for me it is pretty much residential RE or digital design…. Wifey has built to homes before she picked me up off the scrap heap, one in Ramona and another in Texas.
I defer bigtime to you, surveyor, radelow and others for that stuff.
Participantmmmm….business sense… hard to say…I really see nothing at the moment. For sure though I am not as adept with regards to development like yourselves and others. I know what I don’t know…
So for me it is pretty much residential RE or digital design…. Wifey has built to homes before she picked me up off the scrap heap, one in Ramona and another in Texas.
I defer bigtime to you, surveyor, radelow and others for that stuff.
Participantmmmm….business sense… hard to say…I really see nothing at the moment. For sure though I am not as adept with regards to development like yourselves and others. I know what I don’t know…
So for me it is pretty much residential RE or digital design…. Wifey has built to homes before she picked me up off the scrap heap, one in Ramona and another in Texas.
I defer bigtime to you, surveyor, radelow and others for that stuff.
ParticipantHey man… you are semi-retired anyways. darn right I volunteered you chief!
SD Realtor
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