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SD Realtor
ParticipantNo Desmond I think you could not be more incorrect. Actually the folks who haven’t bought are mad as hell because those that did buy are getting away scott free so to speak. Others that did buy are getting mods. Others may even see REDUCTIONS in loan balances. Funny, even some of the most prolific bearish people who post here bought and are in foreclosure. The bottom line is personal responsibility. I am not saying don’t walk away. I am also not saying that the real estate industry, the fed, wall street, the ratings agency, etc did not feed the fire. However HE WHO SIGNED THE LOAN DOCS IS AND WAS RESPONSIBLE. Because if you never signed those docs, you would have never been in trouble. Yet I guess it is always more convenient to blame others. We all were living in the same time and under those same pressures to buy and not all of us did.
ParticipantNo Desmond I think you could not be more incorrect. Actually the folks who haven’t bought are mad as hell because those that did buy are getting away scott free so to speak. Others that did buy are getting mods. Others may even see REDUCTIONS in loan balances. Funny, even some of the most prolific bearish people who post here bought and are in foreclosure. The bottom line is personal responsibility. I am not saying don’t walk away. I am also not saying that the real estate industry, the fed, wall street, the ratings agency, etc did not feed the fire. However HE WHO SIGNED THE LOAN DOCS IS AND WAS RESPONSIBLE. Because if you never signed those docs, you would have never been in trouble. Yet I guess it is always more convenient to blame others. We all were living in the same time and under those same pressures to buy and not all of us did.
ParticipantNo Desmond I think you could not be more incorrect. Actually the folks who haven’t bought are mad as hell because those that did buy are getting away scott free so to speak. Others that did buy are getting mods. Others may even see REDUCTIONS in loan balances. Funny, even some of the most prolific bearish people who post here bought and are in foreclosure. The bottom line is personal responsibility. I am not saying don’t walk away. I am also not saying that the real estate industry, the fed, wall street, the ratings agency, etc did not feed the fire. However HE WHO SIGNED THE LOAN DOCS IS AND WAS RESPONSIBLE. Because if you never signed those docs, you would have never been in trouble. Yet I guess it is always more convenient to blame others. We all were living in the same time and under those same pressures to buy and not all of us did.
ParticipantActually to me 4plexs comments are the best comments. Nobody forced anyone to buy anything.
Yeah I would agree about the business decision part of what Dave wrote.
However it should be prefaced with, if I made a freeking idiotic stupid business decision to buy something I could barely afford, get into an assinine loan, and pray to god for continued unrealistic appreciation, to justify this stupid business decision, then I will be fine. However walking away from this dipwad move is justified because after all business is business.
Walking away because of hardship, injury, job loss etc to me is another story.
ParticipantActually to me 4plexs comments are the best comments. Nobody forced anyone to buy anything.
Yeah I would agree about the business decision part of what Dave wrote.
However it should be prefaced with, if I made a freeking idiotic stupid business decision to buy something I could barely afford, get into an assinine loan, and pray to god for continued unrealistic appreciation, to justify this stupid business decision, then I will be fine. However walking away from this dipwad move is justified because after all business is business.
Walking away because of hardship, injury, job loss etc to me is another story.
ParticipantActually to me 4plexs comments are the best comments. Nobody forced anyone to buy anything.
Yeah I would agree about the business decision part of what Dave wrote.
However it should be prefaced with, if I made a freeking idiotic stupid business decision to buy something I could barely afford, get into an assinine loan, and pray to god for continued unrealistic appreciation, to justify this stupid business decision, then I will be fine. However walking away from this dipwad move is justified because after all business is business.
Walking away because of hardship, injury, job loss etc to me is another story.
ParticipantActually to me 4plexs comments are the best comments. Nobody forced anyone to buy anything.
Yeah I would agree about the business decision part of what Dave wrote.
However it should be prefaced with, if I made a freeking idiotic stupid business decision to buy something I could barely afford, get into an assinine loan, and pray to god for continued unrealistic appreciation, to justify this stupid business decision, then I will be fine. However walking away from this dipwad move is justified because after all business is business.
Walking away because of hardship, injury, job loss etc to me is another story.
ParticipantActually to me 4plexs comments are the best comments. Nobody forced anyone to buy anything.
Yeah I would agree about the business decision part of what Dave wrote.
However it should be prefaced with, if I made a freeking idiotic stupid business decision to buy something I could barely afford, get into an assinine loan, and pray to god for continued unrealistic appreciation, to justify this stupid business decision, then I will be fine. However walking away from this dipwad move is justified because after all business is business.
Walking away because of hardship, injury, job loss etc to me is another story.
ParticipantActually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.
In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.
So no I do not classify this listing as a pipecleaner at all.
ParticipantActually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.
In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.
So no I do not classify this listing as a pipecleaner at all.
ParticipantActually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.
In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.
So no I do not classify this listing as a pipecleaner at all.
ParticipantActually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.
In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.
So no I do not classify this listing as a pipecleaner at all.
ParticipantActually I don’t think it is as much as a pipecleaner as you think. Digging through the main point of the original poster, Santa Luz has been depreciating bigtime. Our investment group considered buying a Santa Luz property awhile back at trustee sale and we did not and were VERY surprised at what the home went for. We think that that particular buyer will be hosed but you never know. If you really dig into the comps and study them, this is not an outlandish price and would represent about a 2/3 hit to the 1.5 paid for the home a few years ago.
In general I would agree with the premise of the original poster however step up buyers going into a 900k or 1M home is a healthy step up and maybe I would say it is second step up buyers, not first step up buyers.
So no I do not classify this listing as a pipecleaner at all.
ParticipantCAR I know… It is hard not to get bummed about it. You and I have to figure out a way to make some moola off of it.
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