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Old 01-05-2009, 11:52 AM
 
250 posts, read 681,242 times
Reputation: 75

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Quote:
Originally Posted by stosh View Post
Ironic isn't it? I guess it's human nature.

A person in this position, if they are savvy enough and play their cards right, can have a net positive result.

Thats fine and dandy....but they should stop calling buyers bottom feeders and stop argueing that first time home buyers are trying to rip them off!
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Old 01-05-2009, 11:54 AM
 
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,579,998 times
Reputation: 677
Quote:
Originally Posted by stosh View Post
Ironic isn't it? I guess it's human nature.

A person in this position, if they are savvy enough and play their cards right, can have a net positive result.
A person in this position sadly won't be able to take advantage of the lower prices this market brings because they won't be able to sell their overpriced POS house.
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Old 01-05-2009, 09:04 PM
SXN
 
350 posts, read 1,284,995 times
Reputation: 295
Quote:
Originally Posted by Profiteer View Post
A person in this position sadly won't be able to take advantage of the lower prices this market brings because they won't be able to sell their overpriced POS house.
Not if they have been renting all along, saving up for a down payment, living within their means and do not own an overpriced POS house.

Last edited by SXN; 01-05-2009 at 09:12 PM..
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Old 01-05-2009, 09:48 PM
 
151 posts, read 711,799 times
Reputation: 116
The media is clearly over hyping the areas that have seen declines. The lower hudson valley in NY where I live has seen little decline if any. The towns I live around are slums but home values are up 400% since 2000, doubled since 2006 and see no sign of decline. A decent home even in those areas is upwards of 400k and in nicer areas over 500k and up.

How can people afford that, those prices are nuts. The house next door to me was only 130k in 1999 and now is over 400k. It is just insane.

What is worse since the annoucement of bailouts I have watched foreclosures virtually disappear from the listings. Probably the banks holding on to them waiting for our taxpayer dollars. Now people like me that saved and did do not do anything irresponsible will be picking up the tax tab for these bastards to keep these home values high.

It just does not make sense to buy now with home prices still so overvalued.
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Old 01-06-2009, 07:07 AM
 
132 posts, read 346,328 times
Reputation: 63
Quote:
Originally Posted by jpicard View Post
The media is clearly over hyping the areas that have seen declines. The lower hudson valley in NY where I live has seen little decline if any. The towns I live around are slums but home values are up 400% since 2000, doubled since 2006 and see no sign of decline. A decent home even in those areas is upwards of 400k and in nicer areas over 500k and up.

How can people afford that, those prices are nuts. The house next door to me was only 130k in 1999 and now is over 400k. It is just insane.

What is worse since the annoucement of bailouts I have watched foreclosures virtually disappear from the listings. Probably the banks holding on to them waiting for our taxpayer dollars. Now people like me that saved and did do not do anything irresponsible will be picking up the tax tab for these bastards to keep these home values high.

It just does not make sense to buy now with home prices still so overvalued.
Just wait a couple of months or so and you'll see prices in your area drop drastically. Your turn in coming.
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Old 01-06-2009, 07:16 AM
 
4,145 posts, read 10,388,418 times
Reputation: 3338
I'm still curious how you KNOW this. You're on here touting yourself as an expert, but what are your expertise? Should we all just stop and listen to you because you post on a random message board? You could be 12 years old and live in Indonesia for all we know. What experience do you have to back up your "knowledge"?
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Old 01-06-2009, 07:43 AM
 
945 posts, read 1,981,486 times
Reputation: 361
Quote:
Originally Posted by kevcrawford View Post
I'm still curious how you KNOW this. You're on here touting yourself as an expert, but what are your expertise? Should we all just stop and listen to you because you post on a random message board? You could be 12 years old and live in Indonesia for all we know. What experience do you have to back up your "knowledge"?
I'm curious of the same. It appears one becomes an "expert" on this forum if they can provide links to "data" that can be read elsewhere. That's their proof that they know all about the RE market. If there are posts to the contrary to dispute what is being reported, then they want "more data" to read to back up your case.
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Old 01-06-2009, 09:13 AM
 
1,989 posts, read 4,449,364 times
Reputation: 1401
Quote:
Originally Posted by stosh View Post
Just wait a couple of months or so and you'll see prices in your area drop drastically. Your turn in coming.
Hudson Valley, I don't know if what your prices are going to do-- but proceed with caution. Lots of communities have called "not us" only to find out they were late to the game.

This is a bizarre market. If you're personally involved in it and local prices seem out of whack, be very careful about what you do next.

Good luck!
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Old 01-06-2009, 09:34 AM
 
1,831 posts, read 5,279,057 times
Reputation: 673
Quote:
Originally Posted by coolcats View Post
Anything that is a bank-owned is bought up with multiple bids in one day. We just got outbid on a house today.
I know! This is what I've been trying to tell people for months but ... people don't want to listen.

Unless you can make an all cash offer ... good luck getting any of these cheap properties.
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Old 01-06-2009, 09:39 AM
 
Location: Texas
44,257 posts, read 64,062,141 times
Reputation: 73913
I think certain places that have always been very desirable to live in will not face the same kind of drop in prices. That has been our experience.
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