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From where all this money is coming ?
2012 Feb 22, 8:45am 6,578 views 32 comments
by leo9 follow (0)
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RentingForHalfTheCost
@
2012 Feb 23, 11:07am
It is getting very common in bay area to have cash offers. Realtors now got facebook IPO as a reason to attract/intimidate buyers. Buy now or you will end up paying more once facebook go live.
Pull up the charts for Netflix, Groupon, FusionIO, Zygna, etc. etc. There is no guarantee that Facebook will fair any different. You think we would have learned our lesson from the dot com days. It seems this country is still drinking the "get rich quick" lemonade. Sad for the people who get caught up in the hype and end up passing on their savings to the insiders who are selling. You will hear about retired people in Florida all over Facebook because they use it to see pictures and videos of their grandchildren. They think they understand the money model, but all they know is that the tool is useful for socializing. Sad...
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We were outbid more than 3 times in 2 months by all cash buyers in bay area.
We are talking about houses in range of $500-$650k. From where the hell all this money is coming from ? In few situations almost all the bid were from all cash buyers except us.