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SD Realtor
ParticipantArraya I do understand that totally. Lets make sure we call it like I see it. I give the up to date minute fluctuations based on facts. Never do they pose themselves as a long term prognostication. Once again, the main point was the perception of flippers or flipped homes causing pricing appreciation. We all know that to be incorrect on a few fronts. One front being the percentage of homes flipped is quite low compared to the total, the second being the market is what drives pricing, not the seller. I am not sure of the bad advice you are refering to. Obviously it is not my advice, however our govt and financial complex give us our dose of bad advice daily.
ParticipantArraya I do understand that totally. Lets make sure we call it like I see it. I give the up to date minute fluctuations based on facts. Never do they pose themselves as a long term prognostication. Once again, the main point was the perception of flippers or flipped homes causing pricing appreciation. We all know that to be incorrect on a few fronts. One front being the percentage of homes flipped is quite low compared to the total, the second being the market is what drives pricing, not the seller. I am not sure of the bad advice you are refering to. Obviously it is not my advice, however our govt and financial complex give us our dose of bad advice daily.
ParticipantArraya I do understand that totally. Lets make sure we call it like I see it. I give the up to date minute fluctuations based on facts. Never do they pose themselves as a long term prognostication. Once again, the main point was the perception of flippers or flipped homes causing pricing appreciation. We all know that to be incorrect on a few fronts. One front being the percentage of homes flipped is quite low compared to the total, the second being the market is what drives pricing, not the seller. I am not sure of the bad advice you are refering to. Obviously it is not my advice, however our govt and financial complex give us our dose of bad advice daily.
ParticipantYou should be able to get an accurate estimate. Ask your agent to get the exact deficiencies from the escrow officer. There may be some sort of vagaries but if the issues are only property taxes and HOA payments those are easy to calculate IF you have a target close date. If not then you can estimate for a few different dates.
ParticipantYou should be able to get an accurate estimate. Ask your agent to get the exact deficiencies from the escrow officer. There may be some sort of vagaries but if the issues are only property taxes and HOA payments those are easy to calculate IF you have a target close date. If not then you can estimate for a few different dates.
ParticipantYou should be able to get an accurate estimate. Ask your agent to get the exact deficiencies from the escrow officer. There may be some sort of vagaries but if the issues are only property taxes and HOA payments those are easy to calculate IF you have a target close date. If not then you can estimate for a few different dates.
ParticipantYou should be able to get an accurate estimate. Ask your agent to get the exact deficiencies from the escrow officer. There may be some sort of vagaries but if the issues are only property taxes and HOA payments those are easy to calculate IF you have a target close date. If not then you can estimate for a few different dates.
ParticipantYou should be able to get an accurate estimate. Ask your agent to get the exact deficiencies from the escrow officer. There may be some sort of vagaries but if the issues are only property taxes and HOA payments those are easy to calculate IF you have a target close date. If not then you can estimate for a few different dates.
ParticipantYes I agree Andy. I am not saying prices are going to go either way, I just try to interpret the data. The data from the auctions suggests it will be harder, much harder for flippers to make money, myself included. However overall re market data shows inventory growth in certain areas which bodes well for buyers. Lets see what happens. Again, the game is rigged but even rigged games break when the tipping point is reached. My consistent message is that interest rates will be the big catalyst behind the next big move down. However we could see moderate downward movement if inventory keeps growing.
ParticipantYes I agree Andy. I am not saying prices are going to go either way, I just try to interpret the data. The data from the auctions suggests it will be harder, much harder for flippers to make money, myself included. However overall re market data shows inventory growth in certain areas which bodes well for buyers. Lets see what happens. Again, the game is rigged but even rigged games break when the tipping point is reached. My consistent message is that interest rates will be the big catalyst behind the next big move down. However we could see moderate downward movement if inventory keeps growing.
ParticipantYes I agree Andy. I am not saying prices are going to go either way, I just try to interpret the data. The data from the auctions suggests it will be harder, much harder for flippers to make money, myself included. However overall re market data shows inventory growth in certain areas which bodes well for buyers. Lets see what happens. Again, the game is rigged but even rigged games break when the tipping point is reached. My consistent message is that interest rates will be the big catalyst behind the next big move down. However we could see moderate downward movement if inventory keeps growing.
ParticipantYes I agree Andy. I am not saying prices are going to go either way, I just try to interpret the data. The data from the auctions suggests it will be harder, much harder for flippers to make money, myself included. However overall re market data shows inventory growth in certain areas which bodes well for buyers. Lets see what happens. Again, the game is rigged but even rigged games break when the tipping point is reached. My consistent message is that interest rates will be the big catalyst behind the next big move down. However we could see moderate downward movement if inventory keeps growing.
ParticipantYes I agree Andy. I am not saying prices are going to go either way, I just try to interpret the data. The data from the auctions suggests it will be harder, much harder for flippers to make money, myself included. However overall re market data shows inventory growth in certain areas which bodes well for buyers. Lets see what happens. Again, the game is rigged but even rigged games break when the tipping point is reached. My consistent message is that interest rates will be the big catalyst behind the next big move down. However we could see moderate downward movement if inventory keeps growing.
ParticipantAndy what is happening is that the number of homes that do NOT make it to the actual auction has risen. When we started seriously attending and purchasing homes about 13 months ago the number of homes that actually made it to the auction and were available for bidding was about twice the number that we see nowadays. Now dont get me wrong, back then there would still be 350 properties scheduled on a given day and maybe 40 of them would get to actual bidding. The rest would be postponed. Now instead of 40 you see 20 for the same amount. I have also tracked homes where the trustee sale was cancelled but the home was never for sale (at least not on the MLS).
Understanding the end game is quite easy. The banks are doing what they are mandated to do. They will be backstopped by the govt. That was played out awhile ago. Rich posted ahwile back about shades of shadow inventory. In the end it doesn’t matter because it is about buying time. Look, if you abstract the problem it is not really any different then unfunded entitlements right? Housing stock, medicare, social security… there is not really any solution in place to deal with the underlying problem, just measures to pus the problem out of the spotlight of the present.
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