Open House Picks: Six Months Later
Comment: Not much to cheer about. Open House Picks 8/14/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Not much to cheer about.
Open House Picks 8/14/09 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Wow! This thread really went off the rails!
I personally know people who have given up because the bank will not bite on “lowball”, all-cash, short-sale offers.
Posted by: Brownstones Half Off at February 12, 2010 5:24 PM
Agreed. Everyone please read my post above about Banks given the perverse incentive by the FDIC to foreclose rather than enter into a short sell. They actually make more money foreclosing on a home…because they are paid out by the FDIC, using money borrowed from tax payers.
While people get thrown out of their homes, banks profit from tax payers and pay their bankers obscene bonuses.
*while goldman sachs reaps, america weeps*
THROW OBAMA OUT OF OFFICE!!
And yet you still can’t find one for half off peak comps!!!!!!!
“If someone is forced to sell for whatever reason, the house doesn’t get taken off the market.”
FALSE. I personally know people who have given up because the bank will not bite on “lowball”, all-cash, short-sale offers. They delist into shadowland and live rent-free (credit already shot – “fuck it!”) until the bank decides to take action. Then the property’s shadow inventory clock starts ticking.
***Bid half off peak comps***
“They all would have been better off accepting whatever lowball offers they were lucky enough to get.”
Today’s low balls are tomorrow’s high balls. “Objects” in rearview mirror appear bigger than they actually are as we descend further into the abyss of half off.
***Bid half off peak comps***
“All these sellers taking their homes off the market with plans to re-list when “the market recovers” are making the biggest mistake of their lives.”
Not if they don’t actually have to sell.
If someone is forced to sell for whatever reason, the house doesn’t get taken off the market.
All these sellers taking their homes off the market with plans to re-list when “the market recovers” are making the biggest mistake of their lives.
They all would have been better off accepting whatever lowball offers they were lucky enough to get.
Nobody gets that even the high end of the market was grossly inflated by easy no-doc lending and bubble-appreciation mentality. The game’s over and there won’t be any “housing market recovery” for another twenty, thirty, maybe even fifty years.
Buy a house if it it’s cheaper than renting. Otherwise, rent.
I know. I was lurking there anonymously.
Posted by: DitmasSnark at February 12, 2010 4:52 PM
Unless you were the Latin guy behind the bar or the tall young Indian (?) guy at the front corner, you were a ghost to me!!!! And the Indian guy was FOD
These wall street bankers who got paid with these ill gotten gains from the american people and bid up nice houses in brooklyn, thereby denying hardworking new yorkers a chance to raise their family in a good school district.
THROW SCHUMER AND OBAMA OUT OF OFFICE!