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Inkt, Suggest you chill. More fun on the way.
$30 billion home loan time bomb set for 2010 (SF Gate) Sept 20, 2009
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/20/MNOR19N2B1.DTL&type=business&tsp=1
Bay Area August home sales and median price fall
September 17, 2009
http://www.dqnews.com/Articles/2009/News/California/Bay-Area/RRBay090917.aspx
Prices headed for historical norm. And the norm is down.
http://www.housingbubblebust.com/OFHEO/Major/NorCal.html
Why the change of position Tomrisk? It wasn't long ago that you were saying now is the time to buy.
dont_getit
2009 Sep 24, 10:04am
Why the change of position Tomrisk? It wasn’t long ago that you were saying now is the time to buy.
Agree, Tomrisk probably got laid off. He was the one called bottom in his infamous thread.
permanent_marker
2009 Sep 24, 11:18am
what about REDFIN? Any one used them?
Just a bunches of housewives working from home, not really know the neighbourhood, just pick up your phone and try to get the deal done remotely, in a very low cost. They don’t care to make a visit to your target properties, check out who is living next door, talk to the seller or the listing agent, search the history of the house from City hall about all the existing or non-existing permit…..
In short, cannot be trusted and no professional work there.
TomRisk
valid points. But you don't get these from a FULL service re-agent anyway :-)
Inkt2002
I understand that renting is not the best of all possible worlds, especially in the flaky market of today; you never know when your landlord might decide to sell or default, and that includes apartment complexes as well. The anxiety of being caught in the lurch combined with not having control over your immediate environment is impetus enough to at least look at buying.
That said: even if you have bricks of cash, if you are in a hurry, you will pay more. Overpaying - where is the pleasure in that? If you can afford to do so without any remorse, then perhaps the time is right for you. Personally, I would only buy a place at the risk of overpaying if some ex factor were in place - such as the house having been designed by a favored architect, or some such thing. Otherwise, I would rent and force yourself to live beneath your means. You could also take care of related purchases in the meantime, such as furnishings, etc.
Patience pays dividends in this case.
Pay cash (takes thieves such as banks, mortgage brokers out of the game). Plan to live in the house for the rest of your life (if your future seems shaky, rent). Don't buy more than you need (keeping up with the Joneses is a recipe for disaster). I paid cash. I want to live in my new home of Salem, OR for the rest of my life. I don't give a rat's ass if the house's 'VALUE" crashes through the floor. I owe NOTHING. I own it and the land. I have zero payments to anyone of any kind other than insurance and taxes (a modest $3,000 a year). I will never have a house payment as long as I live. We get by on 1200 square feet. I have a HUGE garden and yard. My neighbors do not live two feet from my bathroom wall. They cannot hear me piss, and I cannot hear them doing what humans do at all hours. I don't live in a third world neighborhood of noisy breeders and filth and gangs. I do not miss the Bay Area. We are insanely happy. Serenity is not rocket science.
Hi,
I am looking to buy a house in the bay area, and was wondering what route to take to find the best deal (hopefully this does not turn into a debate on whether prices are going down or not).
One method I was considering was the courthouse steps in Redwood city. But it appears that a small group has a monopoly on the houses there and will outbid you at all cost.
 How about preforclosures? How do you go about geting houses this way. I know you would have to go directly to the homeowner. Does anyone have any experience doing this method or heard of any stories of this panning out?
 I would like to try to avoid ROE's because of the real estate commission. How much of a discount do you typically get on ROE's relative t regular sales?
Is there a way to contact the bank after the house doesnt get bid on at auction and before it gets pushed over to a real estate agent? Do banks deal with individiuals or do you have to wait for them to give it an agent?
Thanks so much for any insight.
#housing