Send good Karma please!

[reefraff]

Originally Posted by saxman
http:///forum/post/3267622
i don't really do commercial microelectronics, altho we get a few parts from TI. I work on these things at the component level, i'm not a designer or even a systems person. I have standing offers at some companies in the DFW area, but they haven't been able to talk me into moving to TX, nor have they thrown enuff money my way to make me rethink it. i MIGHT go "hmmmm..." if they were to offer me a failure analysis lab position AND money...
now Austin might be nice...lots of music there. i wonder if anyone needs a good horn player...

My standard response to my wife was we don't consider it unless they beat your current salary by 33%, Which is why I live in the Denver area instead of western Montana. Guess I need to bump that to 50%

 

[cranberry]

3 different house offers denied.... do I hear a 4?
They don't get it! It doesn't make a difference what you paid for your house. It doesn't make a difference what you want for your house. All that matters is what your house is worth in the current market. Are they waiting for a cash payment so the amount the banks will loan for their property won't be an issue. But guess what peeps... cash buyers are looking for DEALS... not high risk opportunites! It's just frustrating because every single house is overpriced so that you don't even know what to be looking at.

 

[spanko]

Frustrating indeed.

 

[lovethesea]

when more houses start to hit the market for the summer switch for transfers, schools etc, people will start to look at their price can competition AND days on market. Their agent will start to make them get agressive in their price, but too late to go back to dead contracts.
so frustrating......sorry you have to go through this!

 

[cranberry]

Actually, we asked if it will pick up for summer and our realtor said we don't really get that trend here. Some peeps do it around school, but not enough to notice. Winter/Summer seasons doesn't make a difference here. It's the same year round.
3 more houses tomorrow or the next depending on appointments. One them is on the street my Dream house is on... I can drive by it everyday and drool.

 

[t316]

Originally Posted by Cranberry
http:///forum/post/3267943
3 different house offers denied.... do I hear a 4?
They don't get it! It doesn't make a difference what you paid for your house. It doesn't make a difference what you want for your house. All that matters is what your house is worth in the current market. Are they waiting for a cash payment so the amount the banks will loan for their property won't be an issue. But guess what peeps... cash buyers are looking for DEALS... not high risk opportunites! It's just frustrating because every single house is overpriced so that you don't even know what to be looking at.
I am somewhat in this industry, and prices are starting to pick up. So it may not be that they expect to get what they paid, but rather....."I'm not in a major hurry, or being forced to get out, so I'll sit back and watch". Buyers right now think that everything should be dirt cheap due to the recession. Well, for sellers (and reality), that thought process ended about 2 months ago.
You are on the tail end of bargain hunt deal. Take advantage of it now because prices are only going up from here.

 

[cranberry]

You're not getting me and are entirely not identifying the problem in your field. I'm more than willing to pay the prices they are asking. I still think that are deals. Sheeeet. 750 for a house that was a mil a handful of years back. I think it's a DEAL! But the lenders are not appraising the houses as such. So, that 750 steal in my eyes, becomes a house they will only lend 600 for. That means I have to come up with the extra 150 grand the lenders won't give us. So, ya... it's not an issue I can do anything about. They may want to sell it for 750. I may want to buy it for 750. The bank will only give 600.... how is that problem created by "buyers thinking everything should be cheap".

 

[t316]

Gotcha...I'm half reading all the post and it sounded like you were one of the millions (literally) out there that are thinking everything is going to sell for half price right now. You obviously see the real picture, and yes, sellers do have to take into account what a lender is going to allow.
I think you should move to NC. Not just putting in a plug here, but take a look at the cost of living, the job potentials for Greg in the RTP area (Raleigh/Durham), weather, location between the ocean and the mountains, salt water fish stores in the area, and not to mention the fact that I'm here......

 

[cranberry]

When we first headed out to look at the houses I was running around clapping my hands with excitement at the prices. The first that I really wanted I was willing to pay full price. Thought for sure it was in the bag because we were perfect 20% pre -approved folk offering full price... of course we'll get it!! Then they ran the comps...... I was so disappointed. The gap is HUGE in asking and "worth".
So now when I do a search online, when I hit the comps tab I'm sitting there praying the houses are pricey. They literally are about a 100 grand off. I'm getting better at internet searching and at least know what to look for upfront. If the house if 750 and the others in the are are an average of 525... I'm not even gonna bother playing that game anymore.

 

[reefraff]

I think lenders are still running scared, especially in Cal. In 2007 the house next door to my Mom's sold for just over 500 grand, 514 I think it was. In 2009 it went back on the market and asking price was 222K. The bank took a major bath there. I'd be scared too.

 

[cranberry]

Ya, it's sucks all the way around. This is the situation that was created. It'll fix itself eventually, but I wish things weren't so difficult.
But I DO wish appraisals should be more individualized. I understand I should only build as good as my neighbourhood, but if there are no official comps, they should not go further out of the area to get comps. Of course the houses will be worth less "out there"..... that's why I want to pay more to live safely "in here". When they run into such situations, there HAS to be a better and more fair way.
So this one neighbourhood, no one has sold any houses there in years. There's no house to compare the house too in sale comparisons. So they widen the radius. That's just illogical.

 

[t316]

Lenders should be scared. It's killing my business, but things are starting to pick up. I'm seeing the mid-range homes starting to move first. It will still be awhile before banks are willing to go full throttle on high end.

 

[cranberry]

Ya, that's exactly what is hot at the moment... the middle.
There are not so many higher priced options out there for sale.... well, not the kind of sale we are interest in. Many of the nicer homes are short sales and foreclosures.

 

[cranberry]

Originally Posted by Cranberry
http:///forum/post/3268047
3 more houses tomorrow or the next depending on appointments. One them is on the street my Dream house is on... I can drive by it everyday and drool.
K, 4 houses... we are going to peek in at my dream home too. I probably shouldn't cause I know I'll want it.

 

[t316]

Ever thought about doing what I did.....buy land, and build your own house. Screw what all the neighbor's houses are going for, be the trend setter. I found 11 acres on the edge of Chapel Hill, bought it and built my house. No comps in the area either, but folks nearby threw a fit that my house was going to skyrocket their property taxes. HATE IT FOR YA.............

 

[cranberry]

Land to build is not something you'll find around here.

 

[t316]

All the more reason to take a look at the East Coast.........which brings up the point, it's 1am, bedtime....

 

[cranberry]

LOL! Nite. Nite. I was born and raised in Newfoundland, Canada.... I have y'all beat for living easterly.

 

[stdreb27]

Realistically if the bank won't lend it to you, with good credit. Then I would be worried about the "value" of the house... Especially in place like California where the value isn't in the brick, concrete and roof but in the location. Because that is VERY subjective. And people are capricious.

 

[cranberry]

Originally Posted by stdreb27
http:///forum/post/3268195
Realistically if the bank won't lend it to you, with good credit. Then I would be worried about the "value" of the house... Especially in place like California where the value isn't in the brick, concrete and roof but in the location. Because that is VERY subjective. And people are capricious.
I'm not quite sure I get what you are saying. I mean I get it....
This just has to shake itself out and in the end the prices of houses will be realistically lower than they were a few years back. I wish they would use "real time" comps and not just basically base the houses worth off the closest houses recently sold. The comps should be in the same neighbourhood.