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  1. #8726
    Join Date
    Oct 2003
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    Big in Japan
    Posts
    41,867
    Quote Originally Posted by Toadman View Post
    Local news talking about how Bend had 393 construction/building permits issued for month of March, (Avg. is 400/month) and how most home and commercial construction companies are still operating normally through April.

    It is crazy to see all the construction that is going as if the economy were at 100%.
    I forgot who said it back in about 07 when things started cratering but construction continued, but, it went something like, I'm a builder, I build houses, it's what I do. Until he can't.

    Let's do some livin'
    After, we die

  2. #8727
    Join Date
    Oct 2007
    Posts
    8,910
    Many construction projects are fully funded for construction around here. What are they gonna do, stop and let em rot?
    We had a housing shortage before, now maybe it’ll be just right when this is over. Might bring prices down a little, and add to overall full time population that will actually live, work, and spend here and reduce the reliance on tourism a little.

  3. #8728
    Join Date
    Feb 2015
    Location
    Boston
    Posts
    3,403
    Few nationwide stats from my brokerage: searches for single family homes up 40%, searches for outdoor space have doubled since SIP. Searches for homes with pools have tripled.

    Buyer searches dropped 36% from March 10th to 24th. We are now running about 15% lower than we were before the events began unfolding.

    Flight out of NYC is still very real. Benny’s gonna be rich!

  4. #8729
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    13,454
    Quote Originally Posted by Self Jupiter View Post
    Few nationwide stats from my brokerage: searches for single family homes up 40%, searches for outdoor space have doubled since SIP. Searches for homes with pools have tripled.

    Buyer searches dropped 36% from March 10th to 24th. We are now running about 15% lower than we were before the events began unfolding.

    Flight out of NYC is still very real. Benny’s gonna be rich!
    And maybe a lot of those searches are just people bored and looking at homes. I know I do that once a week.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  5. #8730
    Join Date
    Feb 2015
    Location
    Boston
    Posts
    3,403
    No doubt. But why let the stock crash thread have all the fun, let’s fling some shit around over here.

  6. #8731
    Join Date
    Nov 2005
    Location
    Making the Bowl Great Again
    Posts
    12,333
    Yeah I look at Zillow probably twice a week, but I'm not shopping.

  7. #8732
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    13,454
    Quote Originally Posted by Self Jupiter View Post
    No doubt. But why let the stock crash thread have all the fun, let’s fling some shit around over here.
    Thanks for the laugh
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  8. #8733
    Join Date
    Dec 2006
    Location
    Agrestic
    Posts
    5,091
    Any one have any advice or stuff to read up on for buying a foreclosure? Tips, etc. Just trying to gain a little knowledge for future purposes. Thanks.

  9. #8734
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    41,867
    Quote Originally Posted by RootSkier View Post
    Yeah I look at Zillow probably twice a week, but I'm not shopping.
    Feeling rootless?

    Let's do some livin'
    After, we die

  10. #8735
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    41,867
    Quote Originally Posted by concretejungle View Post
    Any one have any advice or stuff to read up on for buying a foreclosure? Tips, etc. Just trying to gain a little knowledge for future purposes. Thanks.
    PM Steve Munchin. But he'll get there before you.

    Let's do some livin'
    After, we die

  11. #8736
    Join Date
    Aug 2007
    Location
    At the beach
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    Quote Originally Posted by concretejungle View Post
    Any one have any advice or stuff to read up on for buying a foreclosure? Tips, etc. Just trying to gain a little knowledge for future purposes. Thanks.
    I tried to buy a few on the court steps. Major PITA. First you need to break into the property to access the work needed and then you need the cash to pay for it at the auction and then there is always another asshole out there willing to bid to much for the POS. Fuck that process.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  12. #8737
    Join Date
    Nov 2004
    Location
    Ewgene, Orygun
    Posts
    21
    Quote Originally Posted by liv2ski View Post
    I tried to buy a few on the court steps. Major PITA. First you need to break into the property to access the work needed and then you need the cash to pay for it at the auction and then there is always another asshole out there willing to bid to much for the POS. Fuck that process.
    How is the process for a short sale, better than foreclosures? Thinking of buying in SW Utah or Las Vegas, when the market hits rock bottom for a retirement home.

  13. #8738
    Join Date
    Aug 2007
    Location
    At the beach
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    13,454
    I have done a bunch of loans for short sale purchases and those are better for patient buyers in so many ways. You can easily inspect the property and ask the bank to do repairs if really needed and you can finance the purchase rather than needing cash. They can take months to get accepted, but a good way to go IMO.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  14. #8739
    Join Date
    Feb 2015
    Location
    Boston
    Posts
    3,403
    I prefer REO resale process vs short sale process, and both of those processes are easier than foreclosure auction. There are agents and attorneys who specialize in short sales alone. REO auction sales can also be tricky (hubzu), but at the potential buyer usually gets to check out the inside.

  15. #8740
    Join Date
    May 2007
    Location
    Sandy, Utah
    Posts
    12,077
    Quote Originally Posted by concretejungle View Post
    Any one have any advice or stuff to read up on for buying a foreclosure? Tips, etc. Just trying to gain a little knowledge for future purposes. Thanks.
    what are you looking to know? I bought one last year. Don't know how much help I can be but I can try.

    PM or here makes no matter to me. PM would likely get faster response. My ADHD kicks in i might not go back to this thread for days lol
    http://www.firsttracksonline.com

    I wish i could be like SkiFishBum

  16. #8741
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    20,418
    after the 2007 credit swap thing it took a couple years for the effects to to trickle down or up depending on how you wana look at the map.

    I've thot about taking advantage of the covid situ and buying a rental but if i don't really need to why bother ?

    Businesses/ restaurants all kinds of shit has to fail, people needing to sell when nobody has money ... be patient eh
    Lee Lau - xxx-er is the laziest Asian canuck I know

  17. #8742
    Join Date
    Apr 2019
    Location
    MA
    Posts
    108
    Quote Originally Posted by liv2ski View Post
    I have done a bunch of loans for short sale purchases and those are better for patient buyers in so many ways. You can easily inspect the property and ask the bank to do repairs if really needed and you can finance the purchase rather than needing cash. They can take months to get accepted, but a good way to go IMO.
    An issue I ran into when we tried to do a short sale purchase when looking for our first house was the house was unoccupied and the water was shut off to the house. They would not turn on the water for inspection purposes, so no lenders would approve on the house.

  18. #8743
    Join Date
    Feb 2007
    Location
    Snowmass
    Posts
    394
    Dream house just popped up for sale locally. Kept some powder dry to hop in the right place, but the market has me so nervous to buy right now.

  19. #8744
    Join Date
    Jan 2005
    Location
    cb, co
    Posts
    3,848
    Quote Originally Posted by bizarrefaith View Post
    An issue I ran into when we tried to do a short sale purchase when looking for our first house was the house was unoccupied and the water was shut off to the house. They would not turn on the water for inspection purposes, so no lenders would approve on the house.
    I was still in construction after the '08 recession and one of the saddest things was that all these foreclosed houses would have all the utilities turned off and these companies from TX would come up to Crested Butte to winterize them. They were rarely successful so I'd have to come in and patch 25 drywall holes where the pipes had burst once they turned things back on. I remember pulling into one huge house that had like a dozen shattered toilets sitting in the driveway.

  20. #8745
    Join Date
    Aug 2007
    Location
    At the beach
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    13,454
    Quote Originally Posted by bizarrefaith View Post
    An issue I ran into when we tried to do a short sale purchase when looking for our first house was the house was unoccupied and the water was shut off to the house. They would not turn on the water for inspection purposes, so no lenders would approve on the house.
    Odd, were you getting some sort of Government sponsored loan (FHA, VA, etc) as conventional lenders don't care.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  21. #8746
    Join Date
    Apr 2019
    Location
    MA
    Posts
    108
    Yes, we were using a state first time home-buyer loan program.

  22. #8747
    Join Date
    Apr 2006
    Location
    Movin' On
    Posts
    2,417
    Quote Originally Posted by goldenboy View Post
    I was still in construction after the '08 recession and one of the saddest things was that all these foreclosed houses would have all the utilities turned off and these companies from TX would come up to Crested Butte to winterize them. They were rarely successful so I'd have to come in and patch 25 drywall holes where the pipes had burst once they turned things back on. I remember pulling into one huge house that had like a dozen shattered toilets sitting in the driveway.
    Crazy. Why not shut off main water valve and drain pipes by opening up faucets at top and bottom of the house? It takes like 10 minutes and is not rocket science, although toilets will still freeze if the house gets below freezing and toilets haven't been individually drained.

  23. #8748
    Join Date
    Feb 2015
    Location
    Boston
    Posts
    3,403
    I found the banks/asset management companies to be terrible owners, maintainers and resellers of real estate.

    In the case of a short sale, the owner seeking relief via short sale is typically expected to cooperate with the buyer to get those things done, IME

  24. #8749
    Join Date
    Mar 2006
    Posts
    16,481

  25. #8750
    Join Date
    Jan 2005
    Location
    cb, co
    Posts
    3,848
    Quote Originally Posted by Kevo View Post
    Crazy. Why not shut off main water valve and drain pipes by opening up faucets at top and bottom of the house? It takes like 10 minutes and is not rocket science, although toilets will still freeze if the house gets below freezing and toilets haven't been individually drained.
    That was the theory, but they never seemed to do it right. They'd throw a splash of antifreeze in the toilets but that was no match for a -25 degree night. Would have been a whole lot cheaper to keep things on at 55. On the bright side for me, that was surprisingly steady work for a year or so.

    The only REO listing I've had had me pay the electric bill then they'd reimburse me afterwards.

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