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SD Realtor
ParticipantWe all lose Arraya. We all lose. It is very very sad and I cannot disagree more with the way our government is operating now and has operated before.
ParticipantWe all lose Arraya. We all lose. It is very very sad and I cannot disagree more with the way our government is operating now and has operated before.
ParticipantWe all lose Arraya. We all lose. It is very very sad and I cannot disagree more with the way our government is operating now and has operated before.
ParticipantMercedes things are really tough to predict right now because of the slush factor. I have coined that term because things are slushy to me and nothing really seems to be as it is. We have talked alot about the subsidized market through mechanisms such as squeezing inventory, govt incentives for homebuyers, and low interest rates. No way those things are going to abate. My money is that our esteemed leaders will follow up with another buyers incentive. I think it is a foolhearty waste of my tax dollars but that doesn’t matter. Conversely I do not see unemployment abating however I think it will flatten out. Still I know ALOT of good friends out of work. Plenty of engineers out of work right now. Lots of foreclosures coming as well but it seems like the govt and wall st have developed a methodology of being able to trickle inventory out. Can that continue?
So this post is a rerun of course.
Where you are looking factors into the equation. Your price range is in the think of where ALOT of other people are looking. Going back to your question, and applying it to say PQ. Will PQ drop back to where it was 9 months ago? Will it go lower? I think the answer can be yes to both HOWEVER not under current conditions. If mortgage rates are at 9% then yes it can happen.
For sure do not overestimate the cash factor. As many cash deals as there have been on the market, overall they are still a VERY small percentage. There was another post about cash buyers or flippers swooping in on the market if prices go lower. I could not disagree more. That activity is happening here and now. About flippers, the ones that do it seriously, the big boys that are backed by serious investment money do not buy homes from realtors on the MLS. They buy them in bulk and they buy them at the trustee sales. There are people who buy homes for cash. Yes. We sold a condo in Kearny Mesa last month for cash and the couple that bought it were an Asian couple in LA who had purchased 4 already. Still though, if you look at stats of closed sales, especially 400-500k detached homes, no way are cash deals a large component.
Anyways, sorry I cannot give you the majority of the depreciation answer. I will say yes but ONLY if interest rates can be kept tolerable and honestly I just do not see how that can happen. However to me that will not happen for awhile yet. There is still the fact that our creditors have to finally say ENOUGH TO AMERICAN DEBT!
ParticipantMercedes things are really tough to predict right now because of the slush factor. I have coined that term because things are slushy to me and nothing really seems to be as it is. We have talked alot about the subsidized market through mechanisms such as squeezing inventory, govt incentives for homebuyers, and low interest rates. No way those things are going to abate. My money is that our esteemed leaders will follow up with another buyers incentive. I think it is a foolhearty waste of my tax dollars but that doesn’t matter. Conversely I do not see unemployment abating however I think it will flatten out. Still I know ALOT of good friends out of work. Plenty of engineers out of work right now. Lots of foreclosures coming as well but it seems like the govt and wall st have developed a methodology of being able to trickle inventory out. Can that continue?
So this post is a rerun of course.
Where you are looking factors into the equation. Your price range is in the think of where ALOT of other people are looking. Going back to your question, and applying it to say PQ. Will PQ drop back to where it was 9 months ago? Will it go lower? I think the answer can be yes to both HOWEVER not under current conditions. If mortgage rates are at 9% then yes it can happen.
For sure do not overestimate the cash factor. As many cash deals as there have been on the market, overall they are still a VERY small percentage. There was another post about cash buyers or flippers swooping in on the market if prices go lower. I could not disagree more. That activity is happening here and now. About flippers, the ones that do it seriously, the big boys that are backed by serious investment money do not buy homes from realtors on the MLS. They buy them in bulk and they buy them at the trustee sales. There are people who buy homes for cash. Yes. We sold a condo in Kearny Mesa last month for cash and the couple that bought it were an Asian couple in LA who had purchased 4 already. Still though, if you look at stats of closed sales, especially 400-500k detached homes, no way are cash deals a large component.
Anyways, sorry I cannot give you the majority of the depreciation answer. I will say yes but ONLY if interest rates can be kept tolerable and honestly I just do not see how that can happen. However to me that will not happen for awhile yet. There is still the fact that our creditors have to finally say ENOUGH TO AMERICAN DEBT!
ParticipantMercedes things are really tough to predict right now because of the slush factor. I have coined that term because things are slushy to me and nothing really seems to be as it is. We have talked alot about the subsidized market through mechanisms such as squeezing inventory, govt incentives for homebuyers, and low interest rates. No way those things are going to abate. My money is that our esteemed leaders will follow up with another buyers incentive. I think it is a foolhearty waste of my tax dollars but that doesn’t matter. Conversely I do not see unemployment abating however I think it will flatten out. Still I know ALOT of good friends out of work. Plenty of engineers out of work right now. Lots of foreclosures coming as well but it seems like the govt and wall st have developed a methodology of being able to trickle inventory out. Can that continue?
So this post is a rerun of course.
Where you are looking factors into the equation. Your price range is in the think of where ALOT of other people are looking. Going back to your question, and applying it to say PQ. Will PQ drop back to where it was 9 months ago? Will it go lower? I think the answer can be yes to both HOWEVER not under current conditions. If mortgage rates are at 9% then yes it can happen.
For sure do not overestimate the cash factor. As many cash deals as there have been on the market, overall they are still a VERY small percentage. There was another post about cash buyers or flippers swooping in on the market if prices go lower. I could not disagree more. That activity is happening here and now. About flippers, the ones that do it seriously, the big boys that are backed by serious investment money do not buy homes from realtors on the MLS. They buy them in bulk and they buy them at the trustee sales. There are people who buy homes for cash. Yes. We sold a condo in Kearny Mesa last month for cash and the couple that bought it were an Asian couple in LA who had purchased 4 already. Still though, if you look at stats of closed sales, especially 400-500k detached homes, no way are cash deals a large component.
Anyways, sorry I cannot give you the majority of the depreciation answer. I will say yes but ONLY if interest rates can be kept tolerable and honestly I just do not see how that can happen. However to me that will not happen for awhile yet. There is still the fact that our creditors have to finally say ENOUGH TO AMERICAN DEBT!
ParticipantMercedes things are really tough to predict right now because of the slush factor. I have coined that term because things are slushy to me and nothing really seems to be as it is. We have talked alot about the subsidized market through mechanisms such as squeezing inventory, govt incentives for homebuyers, and low interest rates. No way those things are going to abate. My money is that our esteemed leaders will follow up with another buyers incentive. I think it is a foolhearty waste of my tax dollars but that doesn’t matter. Conversely I do not see unemployment abating however I think it will flatten out. Still I know ALOT of good friends out of work. Plenty of engineers out of work right now. Lots of foreclosures coming as well but it seems like the govt and wall st have developed a methodology of being able to trickle inventory out. Can that continue?
So this post is a rerun of course.
Where you are looking factors into the equation. Your price range is in the think of where ALOT of other people are looking. Going back to your question, and applying it to say PQ. Will PQ drop back to where it was 9 months ago? Will it go lower? I think the answer can be yes to both HOWEVER not under current conditions. If mortgage rates are at 9% then yes it can happen.
For sure do not overestimate the cash factor. As many cash deals as there have been on the market, overall they are still a VERY small percentage. There was another post about cash buyers or flippers swooping in on the market if prices go lower. I could not disagree more. That activity is happening here and now. About flippers, the ones that do it seriously, the big boys that are backed by serious investment money do not buy homes from realtors on the MLS. They buy them in bulk and they buy them at the trustee sales. There are people who buy homes for cash. Yes. We sold a condo in Kearny Mesa last month for cash and the couple that bought it were an Asian couple in LA who had purchased 4 already. Still though, if you look at stats of closed sales, especially 400-500k detached homes, no way are cash deals a large component.
Anyways, sorry I cannot give you the majority of the depreciation answer. I will say yes but ONLY if interest rates can be kept tolerable and honestly I just do not see how that can happen. However to me that will not happen for awhile yet. There is still the fact that our creditors have to finally say ENOUGH TO AMERICAN DEBT!
ParticipantMercedes things are really tough to predict right now because of the slush factor. I have coined that term because things are slushy to me and nothing really seems to be as it is. We have talked alot about the subsidized market through mechanisms such as squeezing inventory, govt incentives for homebuyers, and low interest rates. No way those things are going to abate. My money is that our esteemed leaders will follow up with another buyers incentive. I think it is a foolhearty waste of my tax dollars but that doesn’t matter. Conversely I do not see unemployment abating however I think it will flatten out. Still I know ALOT of good friends out of work. Plenty of engineers out of work right now. Lots of foreclosures coming as well but it seems like the govt and wall st have developed a methodology of being able to trickle inventory out. Can that continue?
So this post is a rerun of course.
Where you are looking factors into the equation. Your price range is in the think of where ALOT of other people are looking. Going back to your question, and applying it to say PQ. Will PQ drop back to where it was 9 months ago? Will it go lower? I think the answer can be yes to both HOWEVER not under current conditions. If mortgage rates are at 9% then yes it can happen.
For sure do not overestimate the cash factor. As many cash deals as there have been on the market, overall they are still a VERY small percentage. There was another post about cash buyers or flippers swooping in on the market if prices go lower. I could not disagree more. That activity is happening here and now. About flippers, the ones that do it seriously, the big boys that are backed by serious investment money do not buy homes from realtors on the MLS. They buy them in bulk and they buy them at the trustee sales. There are people who buy homes for cash. Yes. We sold a condo in Kearny Mesa last month for cash and the couple that bought it were an Asian couple in LA who had purchased 4 already. Still though, if you look at stats of closed sales, especially 400-500k detached homes, no way are cash deals a large component.
Anyways, sorry I cannot give you the majority of the depreciation answer. I will say yes but ONLY if interest rates can be kept tolerable and honestly I just do not see how that can happen. However to me that will not happen for awhile yet. There is still the fact that our creditors have to finally say ENOUGH TO AMERICAN DEBT!
ParticipantDefinitely cannot argue with your advice Fredo.
ParticipantDefinitely cannot argue with your advice Fredo.
ParticipantDefinitely cannot argue with your advice Fredo.
ParticipantDefinitely cannot argue with your advice Fredo.
ParticipantDefinitely cannot argue with your advice Fredo.
ParticipantI don’t have anything more to add then what has already been discussed. I think Russ and Dr Boom made the best point. With regards to Dr Boom, you need to figure out a way to minimize the prejudice that accompanies any VA offers. VA offers are great deals. I had a listing in the spring and the buyer was VA and we sold it to them. It went off without a hitch. They overbid the other offers and we took it. As previously mentioned, the VA inspection, (which is also true for FHA) is such that any items flagged MUST be payed for by the seller. So maybe you figure out a way to overcome that, perhaps making sure that all these things are remedied prior to the inspection at your expense rather then the sellers. How you do that, well you need to be creative. You may have to extend yourself and there will be an element of trust…
As for the market conditions and market bottoms? No I don’t see it being a bottom at all either. We have already bounced in many areas. Which is more frustrating, no jobs or no good deals on homes? It all sucks and is all manipulated. Yet it continues and will continue. For all those who wish for the tax credit to go away, it could very well be replaced by a bigger one!!! How f’d up would that be? Alternately there are some who predicted that the entire economy would be crashing around Halloween or so… maybe that will happen.
Finally in terms of sellers thinking that nobody will get residential loans anymore and dumping properties for well below list price for cash? Not so sure about that.
I have seen more then a few homes go for below list price because of cash deals but moreso because they will not get the loan due to damage, remediation or other items, not because the lender secretly thing the bottom is falling out of the residential loan industry.
I believe Obama will peel money out of his wallet personally to finance your home before he lets residential lending go belly up. So I don’t see that as a concern.
We recently took a cash offer on one of our deals that was about 6% lower then the financed offers we had received but that was also accompanied by a 12 day escrow. We did it because of the rollover of putting that money into another opportunity, not because we felt the residential loan industry was kaput.
Try to keep the faith. Also as posted by others, work with a good VA guy hang in there.
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