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Why would you hire someone that thinks like this?
So, if you love something you see, let’s steal it now, because its going to keep going down. Let me know!
If the price is going to keep going down why buy it now? Why not wait until the price is lower?
Wow, I'd at least give it a shot. That's great that you found someone like that. Typically, when I contact someone they give the "bidding wars now" speech.
This is what I said in the other "lowball" thread. Insiders KNOW the mid-high end is cracking big time. I know several builders/investors in the Diablo Valley that specialize in Lamorinda and Danville/Alamo, it's going down. One recently bought an acre lot to build his retirement home on in Lafayette for 150k.
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So I started interviewing agents to buy a place in the east bay area of Lafayette or Alamo. Here is an email chain of corrospondence I had w/ an agent about a lease/option in Lafayette who seems to be the most realistic of anyone I have spoken to so far:
From: DeAnn Simpson [mailto:dsimpson@SecurityPacific.com]
Sent: Wednesday, July 01, 2009 8:18 PM
Subject: RE: 3781 Highland Rd.LAFAYETTECA94549-3530Well, if it were me and I really wanted it, I would make them an offer like $100-500,000 under asking and buy it now! What do you say? Would you like to go see it and buy it? I just closed on four deals that were all over $100K under asking the the list price was only $400K each.I can make it happen for you!
Lease option have never been a win win situation in my business anyway, prices flucuate too much especially in CA. Just know, the 2-3 yr ARM are in foreclosure now, we still have the 5 & 7 yrs ARMs going down in the next few years. Anyone who says this is over, does not know what they are talking about!Â
So, if you love something you see, let's steal it now, because its going to keep going down. Let me know!
Sent: Wed 7/1/2009 8:52 PM
To: DeAnn Simpson
Subject: RE: 3781 Highland Rd.LAFAYETTECA94549-3530
Wow. You think you can get us that good of a deal? 500k off asking? Im thinking the end of the summer/early fall might be a good time to buy a place. Where were those houses you got 25% off list price? Concord? We want to most likely live in Lafayette or Alamo. The prices still seem high in those areas.
Agent Response:Â
They were in Danville & San Ramon, and yes times are tough and there are some that want desperately to sell!
You are correct though Lamorinda to Plesanton usually do hold their values more.Â
I just entered contract on a home that started at $8,2000,000 and we bought for $3,700,000 in Danville. And I still don't think we got a great deal in my opinion however its a beauty!
Most realtors who Ive been meeting with lately are still talking about bidding wars. I really dont want to work w/ an agent who talks about bidding wars in the first meeting. This one actually seems like she is on the side of the buyer.
#housing