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

[Anonymous]

Where I live, houses are selling immediately and 150,000 - 200,000 over asking. I don’t believe you.

[Anonymous]

Anonymous wrote:

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.

You're not a shark, you're a minnow. Prices will fall much harder than 10%.

are we there yet?

[Anonymous]

OP is a LAND SHARK!!!

[Anonymous]

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

They’re asking too much. I don’t think you live in this area.

[Anonymous]

Anonymous wrote:OP is a LAND SHARK!!!

You felt the need to revitalize a year old thread to say... this? 🙄

[Anonymous]

This guy is a sheep really, nothing he said worked out..no seller is in fear, we have the ultimate advantage, no reason to sell. Hahah

[Anonymous]

Anonymous wrote:Where I live, houses are selling immediately and 150,000 - 200,000 over asking. I don’t believe you.

I'm seeing that too, with select properties sitting for a while for whatever reason.

How are people affording this? These are 2021/2022 or even in some cases above peak prices at 6+% rates. I literally don't understand where the money is coming from.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Where I live, houses are selling immediately and 150,000 - 200,000 over asking. I don’t believe you.

I'm seeing that too, with select properties sitting for a while for whatever reason.

How are people affording this? These are 2021/2022 or even in some cases above peak prices at 6+% rates. I literally don't understand where the money is coming from.

Not doing fixed rate mortgage and hoping for the best. We got on the property ladder by doing that back in the day and it worked out but would not recommend!