熊眼看房市 2010

CoolMax

Some mortgage banker ever told me that all the sellers in today's market are financially s ...
Diffusion 发表于 2010-4-13 05:30 PM

Your point is right, clearly now is buyer's market, not sellers.
所以买家说了算。卖家说了不算。

Buyer simplely wants to push down the price. can seller argue?

draguide

Some mortgage banker ever told me that all the sellers in today's market are financially s ...
Diffusion 发表于 2010-4-13 17:30

    That's why they have to sell it at any cost. If not, bankers will do it for them. Either way, buyers will get a price cut.

新低手

Only depends if the buyer willing to pay the price seller ask for.

If not such a stupid buyer ...
CoolMax 发表于 2010-4-13 17:27

...Surely housing market is very weak. buyer may cut the price seller ask for.... % cut depends on regions and house status...

CoolMax

Sellers won't want to compensate buyers simply because government and Fed stops to compensate them.

They have to, they don't have choice.

Diffusion

Your point is right, clearly now is buyer's market, not sellers.
所以买家说了算。卖家说了不算。 ...
CoolMax 发表于 2010-4-13 17:35

That's why they have to sell it at any cost. If not, bankers will do it for them. Either w ...
draguide 发表于 2010-4-13 17:35

There are evidences that it is not a pure buyer market anymore, according to some news stories I read.

[Housing market is in the transition from buyers market to normal]
http://money.cnn.com/2010/03/11/ ... tversion=2010031103

The national foreclosure rate fell 2% in February from a month earlier, according to an industry report released Thursday, the latest sign that the pace of foreclosures is slowing.

The number of homes actually taken back in bank repossessions fell to 78,683 during February, from 87,648 a month earlier.

[Foreclosure rate fell 2%, but bank repossessions fell 10%, the difference would be investors loading properties in the auction]

According to Sharga, once those homes go back on the market, they're selling quickly. "In most parts of the country when a bank-owned home goes back on the market, it's getting multiple bids," he said.

Diffusion

OK. Time to get back to work. All of my post are just for information purposes only. Use it at your own risk. YMYD as always.

draguide

According to Sharga, once those homes go back on the market, they're selling quickly. "In most parts of the country when a bank-owned home goes back on the market, it's getting multiple bids," he said.

sure, 'cuz it's cheaper. If buyers prefer cheaper forclosures, the more forclosures, the harder for normal owner to sell a house.
BTW, the sales of feb- apr will be deceptive. We will see how it goes after Apr 31.

majong

同学们，现在是卖方市场，抢房子的人很多啊......

majong

昨天才被投资房产的抢了房子，bid above the listing price with 50% downpayment

QuickHand

专门开一贴，汇集房市的信息。
CoolMax 发表于 2010-4-13 15:05

咋一看还以为XX看房事了。。。

CoolMax

There are evidences that it is not a pure buyer market anymore, according to some news stori ...
Diffusion 发表于 2010-4-13 05:40 PM

Foreclusure rate down? haha:

Check this:

 

A 600% increase in foreclosures 

I attended a local Building Industry Association conference on Friday 26 March 2010. The west coast manager of real estate owned, Senior Vice President Ken Gaitan, stated that Bank of America, which currently forecloses on 7,500 homes a month nationally, will increase that number to 45,000 homes per month by December of 2010.

After his surprising statement, two questioners from the audience asked questions to verify the numbers.

Bank of America is projecting a 600% increase in its already large number of monthly foreclosures.

This isn't unsubstantiated rumor; this comes straight from one of the most powerful men in Bank of America's OREO department (yes, that really is what they call it). It appears they have too many properties already.

Perhaps this is a good time to start a Trustee Sale service.... One of the panelists who works for a building company said he was flipping houses with his personal money. He noted that in some markets, he can buy a house at auction for less money than builders are paying for finished lots. That is a bit crazy.

There was encouraging news from some in the reality-based community at the conference. Builders are buying up projects in Southern California, so the land market has found a bottom. Prices are still speculative, but the builders are buying to have buildable inventory, so in select markets real demand exists for finished lots and properties with partial improvements. 

There was a certain amount of positive spin at the event, which is natural given the beleaguered stated of the Southern California building industry. Jeff Collins at the OC Register covered the more bullish opinions.

CoolMax

昨天才被投资房产的抢了房子，bid above the listing price with 50% downpayment
majong 发表于 2010-4-13 05:52 PM

Good for you.

I don't think other people are that luck.

QuickHand

Foreclusure rate down? haha:
Check this:
 
A 600% increase in foreclosures 
I attended ...
CoolMax 发表于 2010-4-13 18:05

我总认为大麻烦还在后面。。。

CoolMax

Even you can do a short sale, don't try it.

You have to pay the income tax for the cancelled mortgage debt.

CoolMax

同学们，现在是卖方市场，抢房子的人很多啊......
majong 发表于 2010-4-13 05:50 PM

Only because they are cheap.

ppjeep

CM 老大，你咋什么都懂呀，你不是做律师或者搞电子设计什么的吗？BTW，我认可你的看法，从投资的角度看，有什么可以做的？除了想买房的可以等等外。

I just provide some information here.
I have no intention to educate any people here. you want to u ...
CoolMax 发表于 2010-4-13 17:29

CoolMax

CM 老大，你咋什么都懂呀，你不是做律师或者搞电子设计什么的吗？BTW，我认可你的看法，从投资的角度看，有 ...
ppjeep 发表于 2010-4-13 06:27 PM

Well,现在是在一个十字路口，所以长期投资还不好说。
再等几个月再看吧。

AGA7d

Even you can do a short sale, don't try it.

You have to pay the income tax for the cancelled mort ...
CoolMax 发表于 2010-4-13 18:13

The debt may not even be canceled - need to read the term carefully.

mikeqc

housing market is very local.   California is very different than the USA in a whole, bay area is very different than rest of California, south bay is very different than north bay and east bay, cupertino, saratoga, los altos, etc. are very different than other cities.  As I have seen, there are not enough sellers in the desirable neighborhood, such as south Santa Clara, Sunnyvale, Mountain View.

CoolMax

The debt may not even be canceled - need to read the term carefully.
AGA7d 发表于 2010-4-13 06:53 PM

我的意思是，这笔被免除的债务，会成为你Tax Return上的收入。需要补税。
It's a nightmare.