[sdcellar]

[quote=sdrealtor]The system is what it is because it works. If we had an ebay style bidding system everyone would bid a dollar more than the last guy and it would go on forever. The system is quick and is meant to find the most willing, able and motivated buyer as quickly as possible. Like it or hate it, you wont see it go anywhere because it works.[/quote]I can see that it works really well for your sellers. Does it work for your buyers?

[sdcellar]

Hey everybody, thanks for the input. There’s certainly a bit for me to digest and a little to respond to as well, but I wanted to provide an update since my last post.

Anyway, as (pretty much) expected, it turned into a multiple offer “situation”. I thought I would find the process annoying if I was confronted with it and, sure enough, it was. So, we submitted our “highest and best offer” (god, that term alone just pisses me off) and now we’re in wait and see mode.

I tried to do my best to arrive at what I thought the property was “worth”, but being the cheapskate that I am, we still bid less than that. Even so, it was still a meaningful amount over the listing price and I have to say, I’m a little disgusted with myself. Mostly because a lot of the REOs we’ve seen actually sold for below listing. That said, I’ve definitely seen it go the other way, so this wouldn’t be the first. And anybody can say what they want (I know I do), but it’s a heck of a lot harder determine which way it will go with a specific property. I have to say, my gut feeling is that we’ll be outbid, so if that’s the case, I will be “right” about the property, but I won’t get the house. On the flipside, if I win, then maybe (but still only maybe) I’m “wrong” and even screwed myself to an extent I’ll never know. But, hey, it’s only money.

Anyway, I’m trying to keep it short, so I’ll leave it for another post to rant completely about my hatred for the multiple offer construct (certainly doesn’t help having a bad attitude going in…)

[sdcellar]

Hey everybody, thanks for the input. There’s certainly a bit for me to digest and a little to respond to as well, but I wanted to provide an update since my last post.

Anyway, as (pretty much) expected, it turned into a multiple offer “situation”. I thought I would find the process annoying if I was confronted with it and, sure enough, it was. So, we submitted our “highest and best offer” (god, that term alone just pisses me off) and now we’re in wait and see mode.

I tried to do my best to arrive at what I thought the property was “worth”, but being the cheapskate that I am, we still bid less than that. Even so, it was still a meaningful amount over the listing price and I have to say, I’m a little disgusted with myself. Mostly because a lot of the REOs we’ve seen actually sold for below listing. That said, I’ve definitely seen it go the other way, so this wouldn’t be the first. And anybody can say what they want (I know I do), but it’s a heck of a lot harder determine which way it will go with a specific property. I have to say, my gut feeling is that we’ll be outbid, so if that’s the case, I will be “right” about the property, but I won’t get the house. On the flipside, if I win, then maybe (but still only maybe) I’m “wrong” and even screwed myself to an extent I’ll never know. But, hey, it’s only money.

Anyway, I’m trying to keep it short, so I’ll leave it for another post to rant completely about my hatred for the multiple offer construct (certainly doesn’t help having a bad attitude going in…)

[sdcellar]

Hey everybody, thanks for the input. There’s certainly a bit for me to digest and a little to respond to as well, but I wanted to provide an update since my last post.

Anyway, as (pretty much) expected, it turned into a multiple offer “situation”. I thought I would find the process annoying if I was confronted with it and, sure enough, it was. So, we submitted our “highest and best offer” (god, that term alone just pisses me off) and now we’re in wait and see mode.

I tried to do my best to arrive at what I thought the property was “worth”, but being the cheapskate that I am, we still bid less than that. Even so, it was still a meaningful amount over the listing price and I have to say, I’m a little disgusted with myself. Mostly because a lot of the REOs we’ve seen actually sold for below listing. That said, I’ve definitely seen it go the other way, so this wouldn’t be the first. And anybody can say what they want (I know I do), but it’s a heck of a lot harder determine which way it will go with a specific property. I have to say, my gut feeling is that we’ll be outbid, so if that’s the case, I will be “right” about the property, but I won’t get the house. On the flipside, if I win, then maybe (but still only maybe) I’m “wrong” and even screwed myself to an extent I’ll never know. But, hey, it’s only money.

Anyway, I’m trying to keep it short, so I’ll leave it for another post to rant completely about my hatred for the multiple offer construct (certainly doesn’t help having a bad attitude going in…)

[sdcellar]

Hey everybody, thanks for the input. There’s certainly a bit for me to digest and a little to respond to as well, but I wanted to provide an update since my last post.

Anyway, as (pretty much) expected, it turned into a multiple offer “situation”. I thought I would find the process annoying if I was confronted with it and, sure enough, it was. So, we submitted our “highest and best offer” (god, that term alone just pisses me off) and now we’re in wait and see mode.

I tried to do my best to arrive at what I thought the property was “worth”, but being the cheapskate that I am, we still bid less than that. Even so, it was still a meaningful amount over the listing price and I have to say, I’m a little disgusted with myself. Mostly because a lot of the REOs we’ve seen actually sold for below listing. That said, I’ve definitely seen it go the other way, so this wouldn’t be the first. And anybody can say what they want (I know I do), but it’s a heck of a lot harder determine which way it will go with a specific property. I have to say, my gut feeling is that we’ll be outbid, so if that’s the case, I will be “right” about the property, but I won’t get the house. On the flipside, if I win, then maybe (but still only maybe) I’m “wrong” and even screwed myself to an extent I’ll never know. But, hey, it’s only money.

Anyway, I’m trying to keep it short, so I’ll leave it for another post to rant completely about my hatred for the multiple offer construct (certainly doesn’t help having a bad attitude going in…)

[sdcellar]

Hey everybody, thanks for the input. There’s certainly a bit for me to digest and a little to respond to as well, but I wanted to provide an update since my last post.

Anyway, as (pretty much) expected, it turned into a multiple offer “situation”. I thought I would find the process annoying if I was confronted with it and, sure enough, it was. So, we submitted our “highest and best offer” (god, that term alone just pisses me off) and now we’re in wait and see mode.

I tried to do my best to arrive at what I thought the property was “worth”, but being the cheapskate that I am, we still bid less than that. Even so, it was still a meaningful amount over the listing price and I have to say, I’m a little disgusted with myself. Mostly because a lot of the REOs we’ve seen actually sold for below listing. That said, I’ve definitely seen it go the other way, so this wouldn’t be the first. And anybody can say what they want (I know I do), but it’s a heck of a lot harder determine which way it will go with a specific property. I have to say, my gut feeling is that we’ll be outbid, so if that’s the case, I will be “right” about the property, but I won’t get the house. On the flipside, if I win, then maybe (but still only maybe) I’m “wrong” and even screwed myself to an extent I’ll never know. But, hey, it’s only money.

Anyway, I’m trying to keep it short, so I’ll leave it for another post to rant completely about my hatred for the multiple offer construct (certainly doesn’t help having a bad attitude going in…)

[sdcellar]

[quote=Aecetia]AN-

I think it is great that you want to pass your house down to your children. That is what I plan to do as well. I consider it commendable.[/quote]Not to be morbid, but before you die?

[sdcellar]

[quote=Aecetia]AN-

I think it is great that you want to pass your house down to your children. That is what I plan to do as well. I consider it commendable.[/quote]Not to be morbid, but before you die?

[sdcellar]

[quote=Aecetia]AN-

I think it is great that you want to pass your house down to your children. That is what I plan to do as well. I consider it commendable.[/quote]Not to be morbid, but before you die?

[sdcellar]

[quote=Aecetia]AN-

I think it is great that you want to pass your house down to your children. That is what I plan to do as well. I consider it commendable.[/quote]Not to be morbid, but before you die?

[sdcellar]

[quote=Aecetia]AN-

I think it is great that you want to pass your house down to your children. That is what I plan to do as well. I consider it commendable.[/quote]Not to be morbid, but before you die?

[sdcellar]

[quote=AN][quote=sdcellar][quote=DWCAP]Seems the bls will take the brain power for you.

http://data.bls.gov/cgi-bin/cpicalc.pl%5B/quote%5DThat’s sweet! Thanks!

Now all I need is something that will give me accurate nominal prices for this house (outside of the years it’s changed hands).[/quote]
Your best bet is to look through zillow at all the house on your street with your floor plan and see what it sold for in 2001.[/quote]That’s the best I can come up with myself, but it has it’s limitations (and tedium). It’s certainly not as point and shoot as DWCAP’s handy linkeroo.

[sdcellar]

[quote=AN][quote=sdcellar][quote=DWCAP]Seems the bls will take the brain power for you.

http://data.bls.gov/cgi-bin/cpicalc.pl%5B/quote%5DThat’s sweet! Thanks!

Now all I need is something that will give me accurate nominal prices for this house (outside of the years it’s changed hands).[/quote]
Your best bet is to look through zillow at all the house on your street with your floor plan and see what it sold for in 2001.[/quote]That’s the best I can come up with myself, but it has it’s limitations (and tedium). It’s certainly not as point and shoot as DWCAP’s handy linkeroo.

[sdcellar]

[quote=AN][quote=sdcellar][quote=DWCAP]Seems the bls will take the brain power for you.

http://data.bls.gov/cgi-bin/cpicalc.pl%5B/quote%5DThat’s sweet! Thanks!

Now all I need is something that will give me accurate nominal prices for this house (outside of the years it’s changed hands).[/quote]
Your best bet is to look through zillow at all the house on your street with your floor plan and see what it sold for in 2001.[/quote]That’s the best I can come up with myself, but it has it’s limitations (and tedium). It’s certainly not as point and shoot as DWCAP’s handy linkeroo.

[sdcellar]

[quote=AN][quote=sdcellar][quote=DWCAP]Seems the bls will take the brain power for you.

http://data.bls.gov/cgi-bin/cpicalc.pl%5B/quote%5DThat’s sweet! Thanks!

Now all I need is something that will give me accurate nominal prices for this house (outside of the years it’s changed hands).[/quote]
Your best bet is to look through zillow at all the house on your street with your floor plan and see what it sold for in 2001.[/quote]That’s the best I can come up with myself, but it has it’s limitations (and tedium). It’s certainly not as point and shoot as DWCAP’s handy linkeroo.

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