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In United States
Registered Sep 06, 2010
gregpfielding's most recent comments:
- On 29 Apr 2013
SoCal bidding wars and outrageous contingencies,
I won't play that game, so I keep getting out bid even though I am offering the full price asking price.
Unfortunately if you don't play the game, you'll never win.
Keep in mind that a house is worth what someone will pay for it. If there are multiple parties willing to pay around $700,000, then it's worth $700,000.
In a quickly-moving market, appraisals fall behind. If the appraiser can only prove with sold comps that the house is worth $650,000, then that appraisal is out of line with the market.
As long as there are buyers willing to pay market value, then no seller is going to sell to you at a discounted appraisal value. If you were a seller in a hot market like this, you would demand the exact same thing.
- On 22 Apr 2013
Success!! Remember when this was a housing blog?,
Even though the fundamentals are still out of whack, the fundamentals don't really matter. The game is completely rigged. This is the new normal, and it's not changing anytime soon. So if you can't beat 'em, join 'em.
- On 21 Apr 2013
No relief as Nor. California prices continue to accelerate,
No, you are wrong.. Fed is probably buying closer to 170,000 homes per month themselves given CA sells only about 35-40,000 per month..