patrick.net

Wow, Zillow dollar 540K at Jan.2006.

This flipper bought at 04/30/2009 $256,900 and asking for $339,900

He/she not going to make a lot after all. It will sold at $300,000 on this current market.

It happens a lot here in Austin. When you boil things down to their fundamentals, it all seems rather silly: shelter as a big time commodity investment.

I guess the next big commodity to be over-speculated is...what...water?

The frustrating part is this home was never list be listed on MLS, otherwise, it will attract higher offer, I believe. The flipper gains exclusive access to this RE, most likely a REO or foreclosed house, to buy it at an attractive price. I believe there are many first time buyers are willing to pay similar or higher price to make it a home sweet home. These flippers have no intention living in this house. They are just for the green.

Off Topic a bit - How much does MLS charge to list a property?

This is why you refuse to play the game. Right now there is still too much fraud and too much euphoria still remaining regarding housing. Sit out a couple years and let it all dissipate.

When people are no longer even talking about housing as an investment, and organic sales start to rise, then you buy.

You can live without a McMansion. You cannot live without fresh water. Water rights in Colorado are worth 5-10x what they were ten years ago. All these new sprawling developments consume a lot of water for a semidesert environment.

Never mind McMansion -- I'm talking general shelter, which strictly speaking, is a fundamental commodity, if not as critical as water. Even modest places were (and still are, depending on where you live) being speculated -- including postwar tract shacks with window units. And don't talk to me about leasing because monthly rents went ape these last few years, too, and are still out of whack in many areas, despite some tapering off.

The funny thing is I was reading about how technically the detroit metro area has access to the largest body of freshwater in the world. Without water there's little plant life...which means little animal life...less clouds more sun higher tempertures. The justification for moving to the south west shrinks.

Being a real estate broker can involve much more then listing and selling houses. Many brokers are also developers, speculators and some are involved in commercial real estate. What better position could there be to hear about and find the good deals in real estate than being a broker. In business information you know that others you are competing with do not know is golden. My opinion is that very few good deals ever make it to the market as they are snatched up by the brokers or their straw men. I would guess that the choicest foreclosures are bought by those on the inside and only the residue make it to the market and the MLS. This probably along with many foreclosures being held off the market is putting a prop under prices. Real estate has always been a rigged game and it would seem that this is particularly particularly evident on the housing side. There is such a high level of emotion attached to the way most people purchase a house that they just roll over and accept getting screwed by the inside game the real estate industrial complex plays.