Real Estate Crash thread

[RoooR]

Problem is, between Y'allywood setting up permanent shop here, Apple, MSFT, Google and Visa building massive outposts, the auto industry following suit (Mercedes, Porsche, Rivian, Hyundai), and every other swinging dick from those purple zones moving here, the trend isn't slowing down anytime soon.

I fail to see how an influx of high paying entertainment, tech and manufacturing jobs is a "problem."

[possum]

As in you welcome the insane market OTP as well or need things to come back to reality a bit there too?

I welcome insane market to continue driving up prices of my investment property

[BmillsSkier]

I fail to see how an influx of high paying entertainment, tech and manufacturing jobs is a "problem."

It's not. We're just full.

I welcome insane market to continue driving up prices of my investment property

Gotcha.

Is your investment property a 77 year old piece of shit with bamboo growing through it in a desirable neighborhood? If so, you too may have a pot of gold under your seat.

[dunfree]

I fail to see how an influx of high paying entertainment, tech and manufacturing jobs is a "problem."

it ruined LA, didn’t it?

[possum]

It's not. We're just full.



Gotcha.

Is your investment property a 77 year old piece of shit with bamboo growing through it in a desirable neighborhood? If so, you too may have a pot of gold under your seat.

Unfortunately, no lol

But note to self, plant some bamboo when tenants move out

[possum]

it ruined LA, didn’t it?

Atlanta doesn’t have the climate and Pacific Ocean that LA does

[RockinB]

Standard form Buy-Sells in Montana, and I am guessing plenty of other places, have specific performance remedies for both sides. So, in theory, a seller can compel the buyer to complete the transaction. This is not something that happens a lot, for obvious reasons, but it is out there and I have actually represented a client where the other side was trying to compel him to complete a transaction that he wanted no part of.

They also have attorney fee provisions. If people want to be bastards about real estate contracts, it is very easy to do, and if you lose, you are paying two sets of attorneys.

Just sent you a PM

[goldenboy]

Standard form Buy-Sells in Montana, and I am guessing plenty of other places, have specific performance remedies for both sides. So, in theory, a seller can compel the buyer to complete the transaction. This is not something that happens a lot, for obvious reasons, but it is out there and I have actually represented a client where the other side was trying to compel him to complete a transaction that he wanted no part of.

They also have attorney fee provisions. If people want to be bastards about real estate contracts, it is very easy to do, and if you lose, you are paying two sets of attorneys.

In CO it's only specific performance for the buyer if a box is checked and no one checks that box. Loss of buyer's earnest money is the seller's only remedy. Hell, they even put it in all caps in the contract to buy and sell.

If the seller is in default, however, it's specific performance and damages and attorney fees...

[RootSkier]

In CO it's only specific performance for the buyer if a box is checked and no one checks that box. Loss of buyer's earnest money is the seller's only remedy. Hell, they even put it in all caps in the contract to buy and sell.

If the seller is in default, however, it's specific performance and damages and attorney fees...

That is a way, way better form.

And RockinB, just saw it and responded to it.

[AdironRider]

A stoner BMW E30 enthusiast? I resemble that remark!

[BmillsSkier]

Yep, the next most common item observed in that yard other than bamboo is random e30 bits.

Not sure if they come with the house or not.

[AdironRider]

You could be buying a gold mine with e30 prices these days.

[Whiteroom_Guardian]

Standard form Buy-Sells in Montana, and I am guessing plenty of other places, have specific performance remedies for both sides. So, in theory, a seller can compel the buyer to complete the transaction. This is not something that happens a lot, for obvious reasons, but it is out there and I have actually represented a client where the other side was trying to compel him to complete a transaction that he wanted no part of.

They also have attorney fee provisions. If people want to be bastards about real estate contracts, it is very easy to do, and if you lose, you are paying two sets of attorneys.

I've done deals in the past two years for buyers where we have crossed out and initialed any specific performance/seller's remedies and the sellers agreed to initial as well when accepting the offer.

Seeing a glut of new listings past two weeks. Way more than spring 20 or 21. I think there are more sellers in trouble with forbearance and/or feeling like they maybe have to sell now to catch any of the remaining heat. If financing a purchase I think this is the time to pull the trigger. Lots of my cash buyers are still sitting back hoping even more sellers get desperate. If you want a cheap (see: 450k to 600k) sfh that could be the play. If you want anything nicer/newer 750k or more my theory is that those property owners are not in hot water and can keep there homes and have the cash/income to not barely pay the mortgage every month or never had a mortgage to begin with.

[Core Shot]

This thread sucks without Benny to kick around

[east or bust]

Did he get himself a timeout? Haven’t seen any posts by him in a while?


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[RootSkier]

Bunny got banned. RIP Bunny.

[BmillsSkier]

Wait, banned or on a time out?

[Ted Striker]

New User: Guy Incognito in 3, 2, 1...

[Supermoon]

Bunny got banned. RIP Bunny.

Good

[alpinevibes]

Bunny got banned. RIP Bunny.

Wait whaaa?? What was the cause, besides bunny being bunny?

[byates1]

There is another thread about this in the pr. Banned for a week apparently.

[Core Shot]

Banned for a week apparently.

A stayawaycation

[dunfree]

There is another thread about this in the pr. Banned for a week apparently.

He should just watch 8 hours of bitcoin evangelism to get unbanned

[Mazderati]

Bitcoin prosperity gospel.

[skiballs]

Should have let bunny come back yesterday.


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