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August 17, 2007 at 12:58 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77205August 17, 2007 at 12:58 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77230
waterboy
ParticipantHot Blonde- Please explain the logic behind that comment.
ParticipantYeah that owner’s situation isn’t looking good and I don’t know how they got somebody to pay those rents…way to high.
PB is an interesting market as many have held tight to their original listing prices. For those that have the room to discount their price by 10%-20% do it now and you still might get it sold quickly. Very apparent with condos as you might see 5 similar units in the same building listed at way to high prices but the one priced 10-20% lower sells fast even though I don’t know why anyone would buy today. Maybe psychologically it gives that buyer a feeling that they are getting a good deal even though they might take another 15-20% dive over the next 4-5 years.
I am also seeing a few that still think they can flip……
ParticipantYeah that owner’s situation isn’t looking good and I don’t know how they got somebody to pay those rents…way to high.
PB is an interesting market as many have held tight to their original listing prices. For those that have the room to discount their price by 10%-20% do it now and you still might get it sold quickly. Very apparent with condos as you might see 5 similar units in the same building listed at way to high prices but the one priced 10-20% lower sells fast even though I don’t know why anyone would buy today. Maybe psychologically it gives that buyer a feeling that they are getting a good deal even though they might take another 15-20% dive over the next 4-5 years.
I am also seeing a few that still think they can flip……
ParticipantYeah that owner’s situation isn’t looking good and I don’t know how they got somebody to pay those rents…way to high.
PB is an interesting market as many have held tight to their original listing prices. For those that have the room to discount their price by 10%-20% do it now and you still might get it sold quickly. Very apparent with condos as you might see 5 similar units in the same building listed at way to high prices but the one priced 10-20% lower sells fast even though I don’t know why anyone would buy today. Maybe psychologically it gives that buyer a feeling that they are getting a good deal even though they might take another 15-20% dive over the next 4-5 years.
I am also seeing a few that still think they can flip……
ParticipantI’ve already heard some going into other sales jobs such as pharma, copier, financial services. A couple others working property management.
ParticipantI’ve already heard some going into other sales jobs such as pharma, copier, financial services. A couple others working property management.
ParticipantI’ve already heard some going into other sales jobs such as pharma, copier, financial services. A couple others working property management.
ParticipantYes I’m sure Mozilo knew more than he was willing to share at times, but don’t insiders have to file the sale of options months in advance?
ParticipantYes I’m sure Mozilo knew more than he was willing to share at times, but don’t insiders have to file the sale of options months in advance?
ParticipantYes I’m sure Mozilo knew more than he was willing to share at times, but don’t insiders have to file the sale of options months in advance?
ParticipantHow about
8. File BankruptcyIsn’t that what most builders/developers do 1 or 2 times throughout their careers?
A majority of them land right back on their feet a few years later and start another successful run.
ParticipantHow about
8. File BankruptcyIsn’t that what most builders/developers do 1 or 2 times throughout their careers?
A majority of them land right back on their feet a few years later and start another successful run.
ParticipantHow about
8. File BankruptcyIsn’t that what most builders/developers do 1 or 2 times throughout their careers?
A majority of them land right back on their feet a few years later and start another successful run.
ParticipantIt was 5832 Caminito Empresa. Auctioned off in April 07 to a private party that is currently flipping it. It just went pending this past week and is listed in the $799k-$850K range.
I was at the auction on Broadway downtown but wasn’t sure how the process worked as I had just found out about it late the night before. Wasn’t going to risk approx. $650k without knowing all details. Would have liked to live in that house at that price for the next 10+ years, but other opportunities will come around.
-waterboy
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