Dixon Contest Update
Posted By Jim the Realtor On April 15, 2009 @ 9:11 am In Contests,Foreclosures/REOs | 15 Comments
[1]We have nine offers in on Dixon, and the seller/bank countered for their highest and best offer. Later today we should have a winner somewhere in the mid-$300,000s.
One of the offers is $367,500 VA, and they’re asking for a 3% credit for closing costs, and another 3% for discount points.
Typical closing costs for buyers run from 1.0% to 1.5%, where does the other 4.5% to 5.0% go?
We probably won’t have to worry about it, because the REO managers are going to take a lower offer with a higher net, and not have to sweat an appraisal issue.
If your loan broker is telling you that you need an extra 4.5% to 5.0% packed into your offer, and to just raise the price to compensate – go find another lender!
Here are the guesses for our contest:
| Guess | Guesser |
| $1 | shadash |
| $199,000 | arizonadude |
| $305,000 | Genius |
| $310,000 | Kook1315 |
| $311,000 | Wes |
| $312,000 | NateTG |
| $314,000 | greenlander |
| $314,900 | No_Such_Reality |
| $316,000 | REB |
| $318,500 | Erin |
| $319,000 | The Wood |
| $320,000 | jose |
| $321,000 | GameAgent |
| $321,500 | mybleachhouse |
| $322,500 | CA renter |
| $323,000 | Dwalla |
| $323,500 | DKO |
| $324,000 | gywright |
| $324,600 | Custerdome |
| $325,000 | Susan |
| $325,000 | nolongerjoerenter |
| $325,000.43 | Renter Pete in Carlsbad |
| $327,000 | bobfather99 |
| $327,500 | IRE |
| $327,900 | no bubble here |
| $328,500 | mtb |
| $329,500 | sosad |
| $330,000 | Steve |
| $330,000 | Geotpf |
| $331,000 | m |
| $331,500 | 4s Renter |
| $332,000 | Dave |
| $333,500 | CB Mark |
| $334,000 | Erica Douglass |
| $335,000 | Kwaping |
| $336,000 | Poorhouse |
| $337,500 | Blissful Ignoramus |
| $338,000 | OCVulture |
| $338,500 | Angela |
| $338,500 | mab |
| $339,462.20 | Mozart |
| $340,000 | Kompeitou |
| $340,000 | tjandthebear |
| $340,250 | rbresident |
| $340,500 | Al in IC |
| $344,800 | Rob Dawg |
| $345,000 | doughboy |
| $346,000 | Atenbrown |
| $346,800 | FreedomCM |
| $347,000 | sd nerd |
| $349,000 | Don Q |
| $349,500 | Myriad |
| $355,000 | Mojo |
| $362,000 | Stephen Waits |
| $415,000 | newbie |
The list price is $314,900. Here is the link to the original post on the contest, with video:
Four Padres Tickets! [2]
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URL to article: http://www.bubbleinfo.com/2009/04/15/dixon-contest-update/
URLs in this post:
[1] Image: http://www.bubbleinfo.com/wp-content/uploads/2009/04/dsc_0133.jpg
[2] Four Padres Tickets!: http://www.bubbleinfo.com/2009/04/trying-to-sell-an-reo/
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