patrick.net

So what do you think happened?

I saw one of those in Concord about three months ago. Gorgeous house for sale, Asian realtor who wouldn't return my phone calls...and then all of a sudden they turn up sold. Not pending, SOLD.

Again, I'm glad we did what we did.

noshow says

Please let me know what you guys think..

I think you got it right.

noshow says

Where is the ethics and integrity of being a realtor.

Haha, that's like asking a murderer where his ethics and integrity are.

StoutFiles says

noshow says

Where is the ethics and integrity of being a realtor.

Haha, that's like asking a murderer where his ethics and integrity are.

Find yourself something that's in an estate or trust. That way you don't have to deal with the games and shades of gray. It's out there.

noshow,

You don't know what the other offer is. For all we know it is an all cash offer higher than the asking price with a very short acceptance period(a few hours). Now the realtor can try to shop around for a better deal for his/her client but the risk is losing the good offer that is already on the table.

I used the listing agent to buy a house the first day it hit the MLS. He told me the price range I had to be in to beat the first offer. He could not tell me how much the other offer was cause that would not be "ethical". The next day it was off the MLS. Coincidence????????? I think not. Just got to play the game by their rules.

fewy says

noshow,

You don't know what the other offer is. For all we know it is an all cash offer higher than the asking price with a very short acceptance period(a few hours). Now the realtor can try to shop around for a better deal for his/her client but the risk is losing the good offer that is already on the table.

We know for a fact there are realtors out there paired up with Chinese investors to buy foreclosures and bank owned properties.

You're dealing with a mob...and it's best to not deal with them at all.

I think you got lucky by not purchasing this property.

1999 price was $107K. Todays valuation is $279K. Which assumes an appreciation of 13.41% YOY.

To get appreciation of 13.41% every year is fucking outstanding.

Therefore this property is still grossly overpriced, I would pay somewhere in the region of $160K for this property in todays market.

If you doubt my figures, then enter them into this inflation calculator: http://www.usinflationcalculator.com/

Just because some sucker paid that price, does not mean its worth it.

In my opinion, you lucked out on this one.

When you left a VM for the listing agent did you say "I am NOT represented by an agent and want YOU to represent me in a dual agency" or something similar? If not your message would get drowned out in 100 messages of useless buyers agents....

PockyClipsNow,

I told her that I was a buyer and that I was very interested in purchasing this property.
I would be putting 35% down..
I'm assuming she is representing both sides/dual agency for her investor(s), she will have the opportunity to list this property again in a few months after her investor(s) rehab it.. It's all about commission$$$$...

I live in this area. For three years now, it is either:

1.) The undesireable properties no one wants, including the bank
2.) Anything remotely decent, 'disappears' quickly for hidden reasons as in this post.
3.) An investor is trying to flip after he/she got a good deal.

David9 says

I live in this area. For three years now, it is either:

1.) The undesireable properties no one wants, including the bank

2.) Anything remotely decent, 'disappears' quickly for hidden reasons as in this post.

3.) An investor is trying to flip after he/she got a good deal.

You live in Tarzana?

What about Agoura?

Do you have to stay in the 101 corridor?

rootvg says

You live in Tarzana?
What about Agoura?
Do you have to stay in the 101 corridor?

1. Yes
2.) Tarzana / West Valley is my preferred location, the edge of the city if you will (Encino, Sherman Oaks is a possibility)
3.) Working in Ventura, yes, about the only option. Funny, last night I checked the distance from Santa Monica to Ventura via Pacific Coast Highway, would add and hour each day, darn.

David9 says

rootvg says

You live in Tarzana?

What about Agoura?

Do you have to stay in the 101 corridor?

1. Yes

2.) Tarzana / West Valley is my preferred location, the edge of the city if you will (Encino, Sherman Oaks is a possibility)

3.) Working in Ventura, yes, about the only option. Funny, last night I checked the distance from Santa Monica to Ventura via Pacific Coast Highway, would add and hour each day, darn.

We lived in Santa Clarita but I really liked Agoura when I was down there.

What about Woodland Hills? I had a boss who lived there, still does.

There's always Thousand Oaks but that's further away.

rootvg says

We lived in Santa Clarita but I really liked Agoura when I was down there.
What about Woodland Hills? I had a boss who lived there, still does.
There's always Thousand Oaks but that's further away.

1.) True, Agoura is very nice, but I might as well move all the way to Ventura.
2.) Sure, Woodland Hills is great, still 'bubbly' there, even more so than Tarzana. An example is in the same complex 1 bedrooms go from 95k to 150k. Prefer 2 bedrooms just an easy example to show
3.) LA County has more services than Ventura County, including public transportation

Thank you for the thoughts, I appreciate them.

The heifer's name is 'Guilty Parsi'? LOL

Do you guys think that she's "Guilty" of insider selling? lol

This is an update on http://www.redfin.com/CA/Woodland-Hills/6610-Farralone-Ave-91303/home/3976126

Property is now pending for $439,000 WOW

You too huh?

All explained here: /?p=1213960

Im not surprised everything under the sun is selling ASAP with these low rates.

Unionbank.com has 3.2% IO ARM which means 400k loan = $1100 a month.

This house would rent for 2400 minimum right? So either rates are way too low and/or rents are way too high.

OR it could mean RE prices are way too low, this house should be 800k right?!

Crazy, something has to be done!

Apr 13, 2012 Sold (MLS) (Closed) $300,000 -- TheMLS #12-587721

Now this home will be us as a comp. in the area just because of a stupid buyer over paying for this home because his/her agent told her that it is a great time to buy/ prices is going up, interest rates a low low low.

PockyClipsNow,

Rates are tooo low, it's creating an illusion for buyers, making things look really good. buyers are more focus on payment vs. value/price. So when rates goes up, the value of homes goes down.

This buyer will be upside down in the future

noshow says

This buyer will be upside down in the future

And that's the problem that's going to be faced. Once the interest rates go up, home prices will sink, and all of a sudden we'll have a new cycle of underwater loans. Hooray!

BayArea says

And that's the problem that's going to be faced. Once the interest rates go up, home prices will sink, and all of a sudden we'll have a new cycle of underwater loans. Hooray!

I know that seems to be the conventional wisdom on pat.net, but historically that has not been the case.

This time could be different, of course, but it's hardly a foregone conclusion.

tatupu70 says

I know that seems to be the conventional wisdom on pat.net, but historically that has not been the case.
This time could be different, of course, but it's hardly a foregone conclusion.

My statement above is with the assumption that all other variables are held constant. Historically, that may have not been the case.

BayArea
you are totally on point and the investors will be back to buy them up again and guys like you and I will have to face the same tune.

I think that all offer should be open like an action, what do you think?

it looks like rates might be only going lower and lower for the next 30 years.

im basing this on looking at rates from 1980 to now and continuing the trend.

noshow says

I think that all offer should be open like an action, what do you think?

Maybe not an auction per se, but I've always advocated for there to be more visibility of offers than there are now. I'm tired of hearing "this property has 22 offers" and not being able to verify it in any way... and that goes for before AND after the sale.

I'm not saying that a name should be attached to an offer necessarily as I value privacy too, but each offer should have some sort of representation. And if this representation is falsified, felony.

Real estate can be a despicable game. You have to learn the game and sadly, the best results seem to be reserved for those who aren't the most honest/moral/ethical.

Nice guys finish last and that's nowhere more true than the RE world.

PockyClipsNow,

I don't think it will happen, savers like myself are getting hurt by low rates, I'm sure you would understand.. 1% return on my money, lol.. inflation which is at 3% that's -2% on my savings

noshow says

I don't think it will happen, savers like myself are getting hurt by low rates, I'm sure you would understand.. 1% return on my money, lol.. inflation which is at 3% that's -2% on my savings

That is your fault for saving like a fool. You get nowhere saving in this kind of market. We need money momentum. You gotta take soem risk and get spending. Wealth effect is something you should read up on and it is not a dirty word!!!

JodyChunder,

Should I invest in equity/stock and get screw from those wall street clowns?

I am looking spend and spend big by buying a home for my family but these realtors/pimps are not giving a chance to purchase anything, they are selling everything to their investors and I'm not one to over pay.

You won't be over paying because everyone is overpaying. If I walks into a candy store and buy a ham burger for a dollar and you do the same thing but pay 5 dollars that is different. but if we all pay five dollars today because uncle same gives us the other four dollars on loan for cheap then you are not overpaying. then you sale that ham burger in two days from now for six dollars when they are selling for 6.50 and you make a profit. add a pickel and you can make even more dollars.

the lack of Infestor spirit and risktaking is what is making folks miss the boat here

Buy houses. Do Amway. Take some risk!

rootvg says

Gorgeous house for sale, Asian realtor who wouldn't return my phone calls...and then all of a sudden they turn up sold. Not pending,

Gorgeous Asian realtor who would not return your calls...that sounds like some other kinda deal!

JodyChunder
You said
If I walks into a candy store and buy a ham burger (what is a candy store doing selling hamburgers)

you saw what happen when we all over paid for our homes a few years ago, we all were f**Ked and some are still and the others will be forever f**ked. You don't want that to happen again, right ?

BayArea says

My statement above is with the assumption that all other variables are held constant. Historically, that may have not been the case.

That is true. How do foresee intrest rates rising while holding all other variables constant? That seems to be a longshot at best.

noshow says

So what do you think happened?

pocket listingnoshow says

PockyClipsNow,

I don't think it will happen, savers like myself are getting hurt by low rates, I'm sure you would understand.. 1% return on my money, lol.. inflation which is at 3% that's -2% on my savings

Get a better rate.

One of my credit unions offers 2% on checking accounts with no limits. They pay 3% on the first $25K with a hoop-jumping account. I should move money there.

The other has 2.26% on the first $25K (ACH or direct deposit, 10 withdrawals a month) and allows my wife and I to each have accounts.

noshow says

ou saw what happen when we all over paid for our homes a few years ago, we all were f**Ked and some are still and the others will be forever f**ked. You don't want that to happen again, right ?

A bad example by me. sorry. but you get the idea. The game changed so you gotta play by the new rule. Those guys what bouht houses in the bubble will get they reductions eventually. You gotta swim with the sharks or you sleep with the fishes

tatupu70 says

How do foresee intrest rates rising w

They will not rise in your lifetime.

JodyChunder says

the lack of Infestor spirit and risktaking is what is making folks miss the boat here

Truth.