[UCGal]

Thanks for clarifying.
I watch the auction results (check daily after the dust settles to see what went back to the bank, what went to third parties)… you’re right that a lot of the third party sales have pretty “frothy” sales prices… at least in the areas I pay attention to. Prices that seem to have no “cash discount” or “risk discount” in them. It’s surprised me quite a bit. I’ve also seen some bank set opening bids that are really stratospheric.

I know you’ve got runners down at the steps these days, so you may not have this info…. Does your group see more wannabe investors, or are some of the bids coming from people who want the house to live in?

[UCGal]

Thanks for clarifying.
I watch the auction results (check daily after the dust settles to see what went back to the bank, what went to third parties)… you’re right that a lot of the third party sales have pretty “frothy” sales prices… at least in the areas I pay attention to. Prices that seem to have no “cash discount” or “risk discount” in them. It’s surprised me quite a bit. I’ve also seen some bank set opening bids that are really stratospheric.

I know you’ve got runners down at the steps these days, so you may not have this info…. Does your group see more wannabe investors, or are some of the bids coming from people who want the house to live in?

[UCGal]

Thanks for clarifying.
I watch the auction results (check daily after the dust settles to see what went back to the bank, what went to third parties)… you’re right that a lot of the third party sales have pretty “frothy” sales prices… at least in the areas I pay attention to. Prices that seem to have no “cash discount” or “risk discount” in them. It’s surprised me quite a bit. I’ve also seen some bank set opening bids that are really stratospheric.

I know you’ve got runners down at the steps these days, so you may not have this info…. Does your group see more wannabe investors, or are some of the bids coming from people who want the house to live in?

[UCGal]

I understand you can’t research every condo HOA for their rules… but I’d use the ones advertised on VRBO as a starting point. Probably some are in violation of HOA rules, but perhaps not all.

[UCGal]

I understand you can’t research every condo HOA for their rules… but I’d use the ones advertised on VRBO as a starting point. Probably some are in violation of HOA rules, but perhaps not all.

[UCGal]

I understand you can’t research every condo HOA for their rules… but I’d use the ones advertised on VRBO as a starting point. Probably some are in violation of HOA rules, but perhaps not all.

[UCGal]

I understand you can’t research every condo HOA for their rules… but I’d use the ones advertised on VRBO as a starting point. Probably some are in violation of HOA rules, but perhaps not all.

[UCGal]

I understand you can’t research every condo HOA for their rules… but I’d use the ones advertised on VRBO as a starting point. Probably some are in violation of HOA rules, but perhaps not all.

[UCGal]

[quote=SD Realtor]I am not so sure that the post was meant to be a prediction post. I think of all the posts FSD and UCGAL where the most I agree with. The main point which evidently was not made well, is that the inventory growth and poor active pending ratios may bode well for many of the submarkets that they are affecting. This is more of a short term prognostication. These are leading indicators that are followed up by pricing a few months later.

Don’t worry we will all be told that it was Bushes fault anyways.[/quote]

When you say bode well – does it bode well for buyers or for sellers? Obviously sellers want a heated up market and bidding wars. Buyers want the opposite. The market is what it is… it’s the players that see things boding well or badly.

Since you buy (at auction) and sell… you see both sides of this -and I can’t say which perspective you’re saying is going to “bode well”.

I’m not trying to be argumentative – just trying to understand your sense of things.

Thanks.

[UCGal]

[quote=SD Realtor]I am not so sure that the post was meant to be a prediction post. I think of all the posts FSD and UCGAL where the most I agree with. The main point which evidently was not made well, is that the inventory growth and poor active pending ratios may bode well for many of the submarkets that they are affecting. This is more of a short term prognostication. These are leading indicators that are followed up by pricing a few months later.

Don’t worry we will all be told that it was Bushes fault anyways.[/quote]

When you say bode well – does it bode well for buyers or for sellers? Obviously sellers want a heated up market and bidding wars. Buyers want the opposite. The market is what it is… it’s the players that see things boding well or badly.

Since you buy (at auction) and sell… you see both sides of this -and I can’t say which perspective you’re saying is going to “bode well”.

I’m not trying to be argumentative – just trying to understand your sense of things.

Thanks.

[UCGal]

[quote=SD Realtor]I am not so sure that the post was meant to be a prediction post. I think of all the posts FSD and UCGAL where the most I agree with. The main point which evidently was not made well, is that the inventory growth and poor active pending ratios may bode well for many of the submarkets that they are affecting. This is more of a short term prognostication. These are leading indicators that are followed up by pricing a few months later.

Don’t worry we will all be told that it was Bushes fault anyways.[/quote]

When you say bode well – does it bode well for buyers or for sellers? Obviously sellers want a heated up market and bidding wars. Buyers want the opposite. The market is what it is… it’s the players that see things boding well or badly.

Since you buy (at auction) and sell… you see both sides of this -and I can’t say which perspective you’re saying is going to “bode well”.

I’m not trying to be argumentative – just trying to understand your sense of things.

Thanks.

[UCGal]

[quote=SD Realtor]I am not so sure that the post was meant to be a prediction post. I think of all the posts FSD and UCGAL where the most I agree with. The main point which evidently was not made well, is that the inventory growth and poor active pending ratios may bode well for many of the submarkets that they are affecting. This is more of a short term prognostication. These are leading indicators that are followed up by pricing a few months later.

Don’t worry we will all be told that it was Bushes fault anyways.[/quote]

When you say bode well – does it bode well for buyers or for sellers? Obviously sellers want a heated up market and bidding wars. Buyers want the opposite. The market is what it is… it’s the players that see things boding well or badly.

Since you buy (at auction) and sell… you see both sides of this -and I can’t say which perspective you’re saying is going to “bode well”.

I’m not trying to be argumentative – just trying to understand your sense of things.

Thanks.

[UCGal]

[quote=SD Realtor]I am not so sure that the post was meant to be a prediction post. I think of all the posts FSD and UCGAL where the most I agree with. The main point which evidently was not made well, is that the inventory growth and poor active pending ratios may bode well for many of the submarkets that they are affecting. This is more of a short term prognostication. These are leading indicators that are followed up by pricing a few months later.

Don’t worry we will all be told that it was Bushes fault anyways.[/quote]

When you say bode well – does it bode well for buyers or for sellers? Obviously sellers want a heated up market and bidding wars. Buyers want the opposite. The market is what it is… it’s the players that see things boding well or badly.

Since you buy (at auction) and sell… you see both sides of this -and I can’t say which perspective you’re saying is going to “bode well”.

I’m not trying to be argumentative – just trying to understand your sense of things.

Thanks.

[UCGal]

There’s an interesting discussion of the collapse in housing, and how the data (like Case Schiller) takes a while to get out. It’s obviously a national look, but it fits some of what you (SDR) are seeing.

It fits the “boat turns slowly” idea.

http://www.calculatedriskblog.com/2010/07/survey-shows-house-prices-falling-in.html

I’m just really glad I’m not actively in the market and have no plans to sell or buy in the near future. If prices drop more, I may pick up that income property I’ve talked about…

[UCGal]

There’s an interesting discussion of the collapse in housing, and how the data (like Case Schiller) takes a while to get out. It’s obviously a national look, but it fits some of what you (SDR) are seeing.

It fits the “boat turns slowly” idea.

http://www.calculatedriskblog.com/2010/07/survey-shows-house-prices-falling-in.html

I’m just really glad I’m not actively in the market and have no plans to sell or buy in the near future. If prices drop more, I may pick up that income property I’ve talked about…

[Author]

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