[UCGal]

[quote=Allan from Fallbrook][quote=pabloesqobar]
(snip)

Also from the advertisement: “You’ll also learn the key to life mastery and the 3 elements to creating lasting change”.
(snip)[/quote]

Pablo: I’m pretty sure that Douglas Adams’ “The Hitchhiker’s Guide to the Galaxy” contains the key to life mastery. Or, at the least, the meaning of life, which I think (according to the book) is 42.
(snip)
[/quote]

But are the “masters of their domain?”
(Sorry – couldn’t resist the Seinfeld reference.)

[UCGal]

[quote=Allan from Fallbrook][quote=pabloesqobar]
(snip)

Also from the advertisement: “You’ll also learn the key to life mastery and the 3 elements to creating lasting change”.
(snip)[/quote]

Pablo: I’m pretty sure that Douglas Adams’ “The Hitchhiker’s Guide to the Galaxy” contains the key to life mastery. Or, at the least, the meaning of life, which I think (according to the book) is 42.
(snip)
[/quote]

But are the “masters of their domain?”
(Sorry – couldn’t resist the Seinfeld reference.)

[UCGal]

[quote=Allan from Fallbrook][quote=pabloesqobar]
(snip)

Also from the advertisement: “You’ll also learn the key to life mastery and the 3 elements to creating lasting change”.
(snip)[/quote]

Pablo: I’m pretty sure that Douglas Adams’ “The Hitchhiker’s Guide to the Galaxy” contains the key to life mastery. Or, at the least, the meaning of life, which I think (according to the book) is 42.
(snip)
[/quote]

But are the “masters of their domain?”
(Sorry – couldn’t resist the Seinfeld reference.)

[UCGal]

I didn’t know you put earnest money on short sale offers – especially back up offers – until the bank accepted them.

I thought short sales were “fire and forget” since the process takes so long and is non-binding until the bank accepts it.

(I can see having a deposit required after the bank approves your offer.)

[UCGal]

I didn’t know you put earnest money on short sale offers – especially back up offers – until the bank accepted them.

I thought short sales were “fire and forget” since the process takes so long and is non-binding until the bank accepts it.

(I can see having a deposit required after the bank approves your offer.)

[UCGal]

I didn’t know you put earnest money on short sale offers – especially back up offers – until the bank accepted them.

I thought short sales were “fire and forget” since the process takes so long and is non-binding until the bank accepts it.

(I can see having a deposit required after the bank approves your offer.)

[UCGal]

I didn’t know you put earnest money on short sale offers – especially back up offers – until the bank accepted them.

I thought short sales were “fire and forget” since the process takes so long and is non-binding until the bank accepts it.

(I can see having a deposit required after the bank approves your offer.)

[UCGal]

I didn’t know you put earnest money on short sale offers – especially back up offers – until the bank accepted them.

I thought short sales were “fire and forget” since the process takes so long and is non-binding until the bank accepts it.

(I can see having a deposit required after the bank approves your offer.)

[UCGal]

[quote=Sandi Egan][quote=temeculaguy]Sold means the owner changed, it does not always mean that it was sold on the open market, but any good repo stalker knows, those are the ones in the “on deck” circle.[/quote]
That’s what I suspected.
However, I seriously doubt these transactions are included in #of sales, median price and comps calculations. There must be a sure way to tell open market sales from these fake ones, right?[/quote]

The problem is defining what makes up “open market”.

* Trustee sales don’t always result in the property going back to the bank – sometimes private parties or investment groups pick up these homes. Do you count these? I think you should.

* Short sales – some would argue these aren’t “open market” since there is the bank approval process which may or may not put more weight towards all cash offers, etc.

* REO sales – the bank selling the forclosed house. I think most of us would put these as open market sales. But the selling banks have been known to put in weird requirements/restrictions on buyers. (A friend bought a REO – the bank tried to insist they finance through them for example.)

“Open Sales” is a nebulous term with lots of different interpretations.

JtR has had a series of posts on his blog about a client who paid cash for 5 houses, rehabbed them and is now selling them. Were her purchases open sales – she paid cash which takes her out of the norm – but she used a realtor – so she was working within the MLS system. Some of the comments over there imply her purchases were not open sales.

[UCGal]

[quote=Sandi Egan][quote=temeculaguy]Sold means the owner changed, it does not always mean that it was sold on the open market, but any good repo stalker knows, those are the ones in the “on deck” circle.[/quote]
That’s what I suspected.
However, I seriously doubt these transactions are included in #of sales, median price and comps calculations. There must be a sure way to tell open market sales from these fake ones, right?[/quote]

The problem is defining what makes up “open market”.

* Trustee sales don’t always result in the property going back to the bank – sometimes private parties or investment groups pick up these homes. Do you count these? I think you should.

* Short sales – some would argue these aren’t “open market” since there is the bank approval process which may or may not put more weight towards all cash offers, etc.

* REO sales – the bank selling the forclosed house. I think most of us would put these as open market sales. But the selling banks have been known to put in weird requirements/restrictions on buyers. (A friend bought a REO – the bank tried to insist they finance through them for example.)

“Open Sales” is a nebulous term with lots of different interpretations.

JtR has had a series of posts on his blog about a client who paid cash for 5 houses, rehabbed them and is now selling them. Were her purchases open sales – she paid cash which takes her out of the norm – but she used a realtor – so she was working within the MLS system. Some of the comments over there imply her purchases were not open sales.

[UCGal]

[quote=Sandi Egan][quote=temeculaguy]Sold means the owner changed, it does not always mean that it was sold on the open market, but any good repo stalker knows, those are the ones in the “on deck” circle.[/quote]
That’s what I suspected.
However, I seriously doubt these transactions are included in #of sales, median price and comps calculations. There must be a sure way to tell open market sales from these fake ones, right?[/quote]

The problem is defining what makes up “open market”.

* Trustee sales don’t always result in the property going back to the bank – sometimes private parties or investment groups pick up these homes. Do you count these? I think you should.

* Short sales – some would argue these aren’t “open market” since there is the bank approval process which may or may not put more weight towards all cash offers, etc.

* REO sales – the bank selling the forclosed house. I think most of us would put these as open market sales. But the selling banks have been known to put in weird requirements/restrictions on buyers. (A friend bought a REO – the bank tried to insist they finance through them for example.)

“Open Sales” is a nebulous term with lots of different interpretations.

JtR has had a series of posts on his blog about a client who paid cash for 5 houses, rehabbed them and is now selling them. Were her purchases open sales – she paid cash which takes her out of the norm – but she used a realtor – so she was working within the MLS system. Some of the comments over there imply her purchases were not open sales.

[UCGal]

[quote=Sandi Egan][quote=temeculaguy]Sold means the owner changed, it does not always mean that it was sold on the open market, but any good repo stalker knows, those are the ones in the “on deck” circle.[/quote]
That’s what I suspected.
However, I seriously doubt these transactions are included in #of sales, median price and comps calculations. There must be a sure way to tell open market sales from these fake ones, right?[/quote]

The problem is defining what makes up “open market”.

* Trustee sales don’t always result in the property going back to the bank – sometimes private parties or investment groups pick up these homes. Do you count these? I think you should.

* Short sales – some would argue these aren’t “open market” since there is the bank approval process which may or may not put more weight towards all cash offers, etc.

* REO sales – the bank selling the forclosed house. I think most of us would put these as open market sales. But the selling banks have been known to put in weird requirements/restrictions on buyers. (A friend bought a REO – the bank tried to insist they finance through them for example.)

“Open Sales” is a nebulous term with lots of different interpretations.

JtR has had a series of posts on his blog about a client who paid cash for 5 houses, rehabbed them and is now selling them. Were her purchases open sales – she paid cash which takes her out of the norm – but she used a realtor – so she was working within the MLS system. Some of the comments over there imply her purchases were not open sales.

[UCGal]

[quote=Sandi Egan][quote=temeculaguy]Sold means the owner changed, it does not always mean that it was sold on the open market, but any good repo stalker knows, those are the ones in the “on deck” circle.[/quote]
That’s what I suspected.
However, I seriously doubt these transactions are included in #of sales, median price and comps calculations. There must be a sure way to tell open market sales from these fake ones, right?[/quote]

The problem is defining what makes up “open market”.

* Trustee sales don’t always result in the property going back to the bank – sometimes private parties or investment groups pick up these homes. Do you count these? I think you should.

* Short sales – some would argue these aren’t “open market” since there is the bank approval process which may or may not put more weight towards all cash offers, etc.

* REO sales – the bank selling the forclosed house. I think most of us would put these as open market sales. But the selling banks have been known to put in weird requirements/restrictions on buyers. (A friend bought a REO – the bank tried to insist they finance through them for example.)

“Open Sales” is a nebulous term with lots of different interpretations.

JtR has had a series of posts on his blog about a client who paid cash for 5 houses, rehabbed them and is now selling them. Were her purchases open sales – she paid cash which takes her out of the norm – but she used a realtor – so she was working within the MLS system. Some of the comments over there imply her purchases were not open sales.

[UCGal]

If I’m not mistaken – sellers costs are realtor (n/a in the case you described) and some title/escrow costs. It’s not a lot of $ once you get rid of the realtor commission.

I bought our house from my father – no realtor, but we used a title company to do the escrow. His costs were less than $1000. I don’t remember the exact amount – but it may have been just a few hundred dollars.

[UCGal]

If I’m not mistaken – sellers costs are realtor (n/a in the case you described) and some title/escrow costs. It’s not a lot of $ once you get rid of the realtor commission.

I bought our house from my father – no realtor, but we used a title company to do the escrow. His costs were less than $1000. I don’t remember the exact amount – but it may have been just a few hundred dollars.

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