Bad housing market my ass!!!!!

[Pat_McCrotch]

I currently live in saCRAMENTO, CA. We are looking for a house to purchase. Yes there are tons of REOs but they are getting bought up like hot cakes. We have put a bid on 4 homes from 15k to 30k over asking and have been outbid on every one. Every house has atleast 10-15 offers on them.

While there are many more foreclosures to come there are also many new home owners to come who see that this is the time to buy.

We were outbid on the operfect house by $1200 last week and it was $20k over asking.

 

[gonelifting]

Wow. Can you show us an example or two of the houses and their prices? Not yours, but just to get an idea of what is out there. I hear prices have been slashed by 50% in some areas. Right?

 

[bigmann245]

Wow. Can you show us an example or two of the houses and their prices? Not yours, but just to get an idea of what is out there. I hear prices have been slashed by 50% in some areas. Right?

prices have dropped big time here in jacksonville Fl.

 

[Pat_McCrotch]

Wow. Can you show us an example or two of the houses and their prices? Not yours, but just to get an idea of what is out there. I hear prices have been slashed by 50% in some areas. Right?

yes they have been slashed as much as 50%.

goto metrolistsmls.com so a search of homes from 200k-250k in sacramento in the elk grove area. We have a bid on one that is 2300+ sqft with a not so big back yard.
we shoud hear something by tuesday or wednsday

we found one house that is only 1750 sqft but was on a 3rd of an acre for $229k which is a steal out here with that much land. We bid $260k and lost to a bid of $261,200.

 

[billfred]

yes they have been slashed as much as 50%.

goto metrolistsmls.com so a search of homes from 200k-250k in sacramento in the elk grove area. We have a bid on one that is 2300+ sqft with a not so big back yard.
we shoud hear something by tuesday or wednsday

we found one house that is only 1750 sqft but was on a 3rd of an acre for $229k which is a steal out here with that much land. We bid $260k and lost to a bid of $261,200.

Wow - that seems way cheap for California. We pay almost that much here in W. Texas - and it is real ugly here.

 

[drsketch]

buyers market man, not a sellers market.

 

[silverstar1025]

Market is horrible down here in TX. Lots of homes for sale and nobody is buying shit. Most just end up foreclosed.

 

[redsamurai]

First off, how much did the people who previously owned those houses lose?? Just cause you're getting a fire sale deal doesn't mean the housing market is all of a sudden back on track. But in any case, housing prices in this country were getting absurd......there needed to be an adjustment.

Secondly, it's Sacramento bor...........Sac town blows, sorry. I was there for 3 days and never want to go back..........Ever. I'd sooner move to Columbus OH than Sacramento.

 

[sixxtoes]

homes have really dropped in san diego, but they keep dropping, so you buy now what is cheaper than it has been, but you still run the risk of over paying

 

[DJ_UFO]

Market sucks in South FL. But hearing about CA is a good sign.

 

[bigmann245]

Market is horrible down here in TX. Lots of homes for sale and nobody is buying shit. Most just end up foreclosed.

same here. i was driving to the store and counted 5 for sale signs on the 3 block stretch next to my house. sad sad sad

 

[HAYEZ]

id still be cautious on purchasing a home now...this country is in a bad spot...its completely falling apart where im at...used to be 300k for a 1 bed condo can pick one up for 180k now...and people are still flexible

 

[chazk]

when a house was worth 450k and drops to 300k and the bank wants to unload it for 250k and someone bids the house up to 265k. That is still hell of a deal.
"IF" The market does not keep going down and the house sold for 265k is only worth 180k in a few more years.

 

[HAYEZ]

when a house was worth 450k and drops to 300k and the bank wants to unload it for 250k and someone bids the house up to 265k. That is still hell of a deal.
"IF" The market does not keep going down and the house sold for 265k is only worth 180k in a few more years.

exactly....which looks to be what may be happening still

 

[Captain FT]

I currently live in saCRAMENTO, CA. We are looking for a house to purchase. Yes there are tons of REOs but they are getting bought up like hot cakes. We have put a bid on 4 homes from 15k to 30k over asking and have been outbid on every one. Every house has atleast 10-15 offers on them.

While there are many more foreclosures to come there are also many new home owners to come who see that this is the time to buy.

We were outbid on the operfect house by $1200 last week and it was $20k over asking.

its great if your buying for the first time and don't have to sell anything. We bought our townhouse for 365k two years ago brand new. Houses in our neighborhood two years ago were topping out at 410k, now they are all like 325k. If we had to sell we would lose about 50k.

Great market for first time home buyers but not if you're selling

 

[ortiz34]

welcome to 2005 in the northeast