I am a buying shark and watching desperate sellers, here's what I see and am doing

[Anonymous]

Anonymous wrote:You are an anchovy.

Maybe this kind of shark? It bit a girl at a zoo in NJ…. https://www.rlsmedia.com/node/46926

But real question, is there some TV show I missed where real estate shark became a thing all of a sudden? I’ve never seen it until very recently.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:aren't the prices still high at 10% lower? I'm seeing those same houses sit afterward and be lowered again. why not wait?

I am bidding 10% lower than their asking

how many homes have you accrued with this strategy?

just started but my goal is to get a rejection and then in a month come back to the same house and bid even lower, i want prices to be around 2020 spring

You might want to consider the human aspect of the problem. If you piss people off they’re unlikely to want to sell to you even if they really want to move. I’d just wait until the list price is closer to what you want to offer. No sense bidding 30% below what they thought they’d get

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:aren't the prices still high at 10% lower? I'm seeing those same houses sit afterward and be lowered again. why not wait?

I am bidding 10% lower than their asking

How?
Do you pay your realtor for each proposal she writes? Or for the time she wastes

Not OP but this worked in 2009-2010 and can work again. We offered 15% below ask (after price was already reduced once) and landed around 10% below ask. Don’t be so dismissive. Realtors are starting to get desperate again so will be ok with all kinds of strategies to close a deal and avoid getting laid off.

Prices didn't bottom out until 2012.

Not sure what data you’re looking at but 2009 was the clear bottom.

https://fred.stlouisfed.org/series/WDXRSA

Agreed and facts. We purchased in 08 however for 300k in NW for a home that was purchased for 498k in 06.

Nice humble brag.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:aren't the prices still high at 10% lower? I'm seeing those same houses sit afterward and be lowered again. why not wait?

I am bidding 10% lower than their asking

How?
Do you pay your realtor for each proposal she writes? Or for the time she wastes

Not OP but this worked in 2009-2010 and can work again. We offered 15% below ask (after price was already reduced once) and landed around 10% below ask. Don’t be so dismissive. Realtors are starting to get desperate again so will be ok with all kinds of strategies to close a deal and avoid getting laid off.

Prices didn't bottom out until 2012.

Not sure what data you’re looking at but 2009 was the clear bottom.

https://fred.stlouisfed.org/series/WDXRSA

Agreed and facts. We purchased in 08 however for 300k in NW for a home that was purchased for 498k in 06.

Nice humble brag.

Wasn’t my intentions. Was just speaking facts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:aren't the prices still high at 10% lower? I'm seeing those same houses sit afterward and be lowered again. why not wait?

I am bidding 10% lower than their asking

How?
Do you pay your realtor for each proposal she writes? Or for the time she wastes

Not OP but this worked in 2009-2010 and can work again. We offered 15% below ask (after price was already reduced once) and landed around 10% below ask. Don’t be so dismissive. Realtors are starting to get desperate again so will be ok with all kinds of strategies to close a deal and avoid getting laid off.

Prices didn't bottom out until 2012.

Not sure what data you’re looking at but 2009 was the clear bottom.

https://fred.stlouisfed.org/series/WDXRSA

Agreed and facts. We purchased in 08 however for 300k in NW for a home that was purchased for 498k in 06.

Nice humble brag.

Wasn’t my intentions. Was just speaking facts.

Ignore them lol. Typical DC behavior — be upset / triggered / jealous anytime anyone is doing well. City is expensive and it makes people think like that, sadly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:aren't the prices still high at 10% lower? I'm seeing those same houses sit afterward and be lowered again. why not wait?

I am bidding 10% lower than their asking

How?
Do you pay your realtor for each proposal she writes? Or for the time she wastes

Not OP but this worked in 2009-2010 and can work again. We offered 15% below ask (after price was already reduced once) and landed around 10% below ask. Don’t be so dismissive. Realtors are starting to get desperate again so will be ok with all kinds of strategies to close a deal and avoid getting laid off.

Prices didn't bottom out until 2012.

Not sure what data you’re looking at but 2009 was the clear bottom.

https://fred.stlouisfed.org/series/WDXRSA

Agreed and facts. We purchased in 08 however for 300k in NW for a home that was purchased for 498k in 06.

Nice humble brag.

Wasn’t my intentions. Was just speaking facts.

I am glad you shared your data point. There are many people on this board who repeat the same old mantra that prices in DC and close in areas never really went down in the last bubble, and as your experience demonstrates, it just isn't true.

[Anonymous]

With the great depression going on, how many homes has the shark accrued?

[Anonymous]

Anonymous wrote:Here is what I am doing, I am watching homes that are recently under contract. About half of those are failing to close because of appraisal or other issues and buyers w/ cold feet.

What I am doing is throwing in bids 10% lower right after the seller puts them on the market as well as when the seller lowers the previous price.

Lol dummy. Now I’m gonna bid 9% below to beat your 10%. In your face

[Anonymous]

Anonymous wrote:With the great depression going on, how many homes has the shark accrued?

[Anonymous]

It is a shark attack

[Anonymous]

I don’t see any increase in inventory around where I am, Vienna area. No inventory, prices are gonna stay elevated. Funny thing is that house for sale have been sitting too. It’s like who will flinch first.

[Anonymous]

I’m eyeing a home now that has dropped the price twice in 42 days; it’s still overpriced imo. I’m just waiting on the sidelines.

[Anonymous]

Anonymous wrote:I don’t see any increase in inventory around where I am, Vienna area. No inventory, prices are gonna stay elevated. Funny thing is that house for sale have been sitting too. It’s like who will flinch first.

Sellers will wait and see if it gets better. No incentive to sell now, no one is buying.

[Anonymous]

The only people that must sell now are deaths and divorces. That's it and that's not a lot of turnover.

Even if it's a job relocation, you can keep the house and make a mint renting it out. The rental profit is beating the markets right now, so you may as sit on it and enjoy a low rate.

[Anonymous]

A house in my beach area below BFE which means high flood insurance hit market last month and dead on water. A similar one summer 2021 was snatched up.

Buyers are buying but looking more at details. This house is one level. So no upstairs so sitting duck in a flood