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Old 07-07-2008, 07:41 PM
 
Location: Gilbert, AZ
1,384 posts, read 4,298,984 times
Reputation: 1037

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It seems that every house we are interested in buying they already are in the process of closing or have tons of offers.. with all these houses for sale, it seems there are just as many buyers. We looked at a house that has only been on the market for 2 days and it already has 11 offers, 2 of which are more than the asking price.. this is just stressing me out!

 
Old 07-07-2008, 08:04 PM
 
3 posts, read 11,525 times
Reputation: 12
Be careful of the banker and realtor games. They are starting to list low and then getting people to bid them up. Let them sit for awhile. I won't play their games.
 
Old 07-07-2008, 08:22 PM
 
Location: Louisville, KY
1,590 posts, read 4,631,781 times
Reputation: 1381
Quote:
Originally Posted by thegirlinaz View Post
It seems that every house we are interested in buying they already are in the process of closing or have tons of offers.. with all these houses for sale, it seems there are just as many buyers. We looked at a house that has only been on the market for 2 days and it already has 11 offers, 2 of which are more than the asking price.. this is just stressing me out!
I posted the same thing in another thread. A coworker has called on a few houses he was interested in, some new on the market and some that have been around a little while and was told by the selling agent that they already have many offers in on the homes. this news article may be a telling story as well..


Vulture real estate investors swoop in - Jul. 2, 2008
 
Old 07-07-2008, 08:33 PM
 
Location: Tampa Bay
1,022 posts, read 3,347,258 times
Reputation: 458
Quote:
Originally Posted by 61scout80 View Post
I posted the same thing in another thread. A coworker has called on a few houses he was interested in, some new on the market and some that have been around a little while and was told by the selling agent that they already have many offers in on the homes. this news article may be a telling story as well..


Vulture real estate investors swoop in - Jul. 2, 2008
That article REALLY gets under my skin. House flipping isn't going to stop. Market correction my arse. People are still getting fat off of ripping other people off in a sluggish economy. I hate with a passion people overcharging for property just to get rich. That's why an entire state(California) is out of whack and cut off to the entire middle class blue collar worker. Not to mention that job security is one of the biggest concerns for people on the lower end of the spectrum. Even twenty thousand "extra" dollars can add ten more years for them to pay their lives away. Sucky arse world.
 
Old 07-07-2008, 09:04 PM
 
Location: Gilbert, AZ
1,384 posts, read 4,298,984 times
Reputation: 1037
Quote:
Originally Posted by the_pines View Post
That article REALLY gets under my skin. House flipping isn't going to stop. Market correction my arse. People are still getting fat off of ripping other people off in a sluggish economy. I hate with a passion people overcharging for property just to get rich. That's why an entire state(California) is out of whack and cut off to the entire middle class blue collar worker. Not to mention that job security is one of the biggest concerns for people on the lower end of the spectrum. Even twenty thousand "extra" dollars can add ten more years for them to pay their lives away. Sucky arse world.

House flipping makes me mad too because we are looking to buy our first home to live in and start a family, but we keep getting beat by people buyings houses just to make money.
 
Old 07-07-2008, 09:11 PM
 
338 posts, read 1,626,179 times
Reputation: 158
Quote:
Originally Posted by thegirlinaz View Post
It seems that every house we are interested in buying they already are in the process of closing or have tons of offers.. with all these houses for sale, it seems there are just as many buyers. We looked at a house that has only been on the market for 2 days and it already has 11 offers, 2 of which are more than the asking price.. this is just stressing me out!
I feel your pain. We just recently bought a house and will be closing in a few weeks. We went through the same thing. Every time we liked a house, it had several or many offers and it was sold right away! It was very frustrating and stressful. My realtor told me that a lot of retirees are coming out here because of our big foreclosure market and plopping cash down for a cheap winter home. You'll find one, you just have to be persistent. We had to make 5 offers before we found our house. I thought I was going to pull my hair out.

Don't get me started on the flippers! This is our first home too and I feel the same way. They can't have mine though. ha ha....
 
Old 07-07-2008, 10:30 PM
 
Location: Louisville, KY
1,590 posts, read 4,631,781 times
Reputation: 1381
people are unhappy when houses aren't selling, and they are unhappy when they start selling again, go figure

I have heard of a lot of Canadians buying homes around here as well. hopefully soon we see the prices stabilize as the sales grow.
 
Old 07-07-2008, 11:35 PM
 
Location: NW Phoenix
477 posts, read 1,584,571 times
Reputation: 153
What price ranges are these homes in...if you dont mind me asking?
 
Old 07-08-2008, 12:17 AM
 
Location: Cave Creek, AZ USA
1,775 posts, read 6,362,044 times
Reputation: 1071
Quote:
Originally Posted by thegirlinaz View Post
House flipping makes me mad too because we are looking to buy our first home to live in and start a family, but we keep getting beat by people buyings houses just to make money.
Pretty sad that people are mad at others who want to make a profit on an investment. Only in America. Do you invest to lose money or is your profit only legitimate if you hold the asset for a long time?
 
Old 07-08-2008, 08:07 AM
 
Location: Louisville, KY
1,590 posts, read 4,631,781 times
Reputation: 1381
Quote:
Originally Posted by Rick Lee View Post
Pretty sad that people are mad at others who want to make a profit on an investment. Only in America. Do you invest to lose money or is your profit only legitimate if you hold the asset for a long time?
Its all about timing. Everyone wants to get a house at the cheapest price, then have it appreciate rapidly. they also do not want to compete for that house. No one that owns a home is complaining when an investor buys that ratty home next door and gets it back into shape. In doing this the investor is taking away an eyesore and helping to bump property values.
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