[vizcaya]

I did my research last year, and in Septmember I guessed the the bottom would be about %35 from peak. I listened to many on here, and others came to the same conclusion. Now in my area(92508), the the drop has hit 35%. I am now re-adjusting my prediction that it may be up to 50% possible more in less desireable areas.
Since there were many homes sold in 2005, I am expecting many to walk away rather than keep thier home. Even if they can afford it. From what I see, these newer developments are almost like ghost towns, with overgrown lawns, and vacant homes. Not exactly what I would call a place to live, no matter how nice the house is. I am glad we chose to live in a established neighborhood. It was tempting to look at these newer model homes and get locked into buying into a new community.

[vizcaya]

I did my research last year, and in Septmember I guessed the the bottom would be about %35 from peak. I listened to many on here, and others came to the same conclusion. Now in my area(92508), the the drop has hit 35%. I am now re-adjusting my prediction that it may be up to 50% possible more in less desireable areas.
Since there were many homes sold in 2005, I am expecting many to walk away rather than keep thier home. Even if they can afford it. From what I see, these newer developments are almost like ghost towns, with overgrown lawns, and vacant homes. Not exactly what I would call a place to live, no matter how nice the house is. I am glad we chose to live in a established neighborhood. It was tempting to look at these newer model homes and get locked into buying into a new community.

[vizcaya]

No need to rush. If time and prices are on your side.

[vizcaya]

No need to rush. If time and prices are on your side.

[vizcaya]

No need to rush. If time and prices are on your side.

[vizcaya]

No need to rush. If time and prices are on your side.

[vizcaya]

No need to rush. If time and prices are on your side.

[vizcaya]

You should have gotten something by now, as far as your agreeing with the counter.

I do however remember the bank having to check with “investors” to approve my lower offer. This was done within a few days of me placing my bid. In my situation, they had 4 offers, on the same property, and mine was the best one. They never countered. We went in escrow when they accepted.

I am still confused on who these “investors” were. The other realtor made it seem that the offer was too low, and they(the investors) had to rework some numbers, then agree with the sale.

Good luck with your purchase. Hope you really love this house.

[vizcaya]

You should have gotten something by now, as far as your agreeing with the counter.

I do however remember the bank having to check with “investors” to approve my lower offer. This was done within a few days of me placing my bid. In my situation, they had 4 offers, on the same property, and mine was the best one. They never countered. We went in escrow when they accepted.

I am still confused on who these “investors” were. The other realtor made it seem that the offer was too low, and they(the investors) had to rework some numbers, then agree with the sale.

Good luck with your purchase. Hope you really love this house.

[vizcaya]

You should have gotten something by now, as far as your agreeing with the counter.

I do however remember the bank having to check with “investors” to approve my lower offer. This was done within a few days of me placing my bid. In my situation, they had 4 offers, on the same property, and mine was the best one. They never countered. We went in escrow when they accepted.

I am still confused on who these “investors” were. The other realtor made it seem that the offer was too low, and they(the investors) had to rework some numbers, then agree with the sale.

Good luck with your purchase. Hope you really love this house.

[vizcaya]

You should have gotten something by now, as far as your agreeing with the counter.

I do however remember the bank having to check with “investors” to approve my lower offer. This was done within a few days of me placing my bid. In my situation, they had 4 offers, on the same property, and mine was the best one. They never countered. We went in escrow when they accepted.

I am still confused on who these “investors” were. The other realtor made it seem that the offer was too low, and they(the investors) had to rework some numbers, then agree with the sale.

Good luck with your purchase. Hope you really love this house.

[vizcaya]

You should have gotten something by now, as far as your agreeing with the counter.

I do however remember the bank having to check with “investors” to approve my lower offer. This was done within a few days of me placing my bid. In my situation, they had 4 offers, on the same property, and mine was the best one. They never countered. We went in escrow when they accepted.

I am still confused on who these “investors” were. The other realtor made it seem that the offer was too low, and they(the investors) had to rework some numbers, then agree with the sale.

Good luck with your purchase. Hope you really love this house.

[vizcaya]

I bought a Countrywide foreclosure, and the bank had me agree that if the escrow did not close within 30 days, I would pay 1 tenth of 1 percent per day of the sales price if the home did not close on time or sooner.

These banks want these properties off thier books fast.

[vizcaya]

I bought a Countrywide foreclosure, and the bank had me agree that if the escrow did not close within 30 days, I would pay 1 tenth of 1 percent per day of the sales price if the home did not close on time or sooner.

These banks want these properties off thier books fast.

[vizcaya]

I bought a Countrywide foreclosure, and the bank had me agree that if the escrow did not close within 30 days, I would pay 1 tenth of 1 percent per day of the sales price if the home did not close on time or sooner.

These banks want these properties off thier books fast.

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