The substitution effect can squish down values in other areas, and for the bank clerks charged with the responsibility of determining the opening bids, it is a moving target.
Here are two properties from the foreclosure list who have published opening bids – which hopefully means that this week’s trustee sales are for real. But for buyers who are paying attention, the first house pictured in the youtube below is leading the market:
Still seeing a ‘disturbing’ trend of all cancelled sales and zero 3rd party/BTB sales.
Disturbing because its more gov money being given away to make somebody happy (principal reductions, etc).
JTR, any insight on what is truly behind the ‘cancelled’ sales as I know these folks are not making up $100k+ of defaulted interest and are still 30%+ under water…what gives lately (last 2-4 weeks its gotten excessively worst)???
It`s good to hear an opposing viewpoint on these videos. But shouldn`t she get to sign-off on them as well?
Funny to hear the comments/tone of “kids” today who have been fortunate to grow up comfortably…we’ve got it so good that choosing a house that ‘looks like a barn’ would be a grand mansion to many of our parents.
My father live in an actual chicken-coop behind a gas station in Pasadena during WWII while grandma pumped gas as everyone was off fighting ‘over there’.
We’ve all got it pretty good, even when its bad.
3.Funny to hear the comments/tone of “kids” today who have been fortunate to grow up comfortably…we’ve got it so good that choosing a house that ‘looks like a barn’ would be a grand mansion to many of our parents.
This is touchy having my kid exposed to scrutiny. I don’t think there was any harm meant by clearfund’s comment, but let’s face it, I’m going to be overly sensitive.
She is new to this and finding her way. She has seen the videos and knows they can be snarky, and she knows that I want her to participate.
She has had it “comfortable” but has gone through much more personal adversity than any of her peers, and is tough and gritty and full of heart in a society of softies.
Clearfund is a friend, and I’ll roll with it. But Kayla is going to surprise you.
No personal slam was intended and apologies that it was delivered that way by my post.
I’ve got 2 kids as well and I hear the same type of comments from them and the wife and I discuss this at length.
We’re amazed that our kids may never cut grass or change their own oil, etc and its both a blessing and a curse at the same time.
guess the constant moaning by countless people of how bad things are when no one is standing in food lines had me on edge.
Apologies and all my best.
I didn’t take it as a slam, just sensitive in the early stages here. Loved the chicken-coop story!
Agreed that all of us have had it good. I’m very thankful, and appreciate friends like you.
Last night I heard that client and good friend Dick Lang had a heart attack and died over the weekend. He was 54 years old, and in decent shape.
Life is too short for moaning, and I’m as guilty as anyone. Here’s to appreciating what we value most in life, every day.
As a kid I never believed the chicken-coop story. Then a few years ago grandma showed pictures from the 40’s and there it was, the famous chicken-coop with them living in it. I stood humbled.
For what it’s worth I agree with Kayla, the house does look like a barn. Just because it’s expensive doesn’t mean that it’s not ugly. Wrt real estate it seems like having a sense of what a buyer might find attractive would be helpful. Also a little good natured snarkiness is part of the fun. I loved that part where she spots the lady and gives a heads-up.
It’s great to hear her voice with you Jim.
Kayla’s right. A nouveau craftsman McMansion can really end up looking like a barn.