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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] This is the truth Posted by LazyMan on July 28, 2010 at 11:02 AM In Reply to: Re: Paying Above MLS Asking Price posted by dond on July 28, 2010 at 10:38 AM As a Flipper in LA, I've had much better luck negotiating SS Deals before and in escrow than buying at the TD sales. I've been following the auction market for 2 years now in LA and the truth is that investors have been lucky to squeeze out small margin profits in most flip cases; however at this point I estimate 50% of the TD investors in LA are paying more than retail. : : Yesterday was a terrible day for LA TD Buyers. One of the condos I bid on sold for 5% above the price it was listed for on the MLS (on market for 36 days). Why would someone pay more for a property at the TD auction than the MLS asking price? : I'd guess the buyer was ignorant of the MLS listing, ignorant of the general market, and over-enthusiastic. : That makes it hard on the rest of us. : Dond Follow Ups: Re: This is the truth Rob 2:30 PM, 07/28/10 (3) Re: This is the truth LazyMan 4:06 PM, 07/28/10 (2) Re: This is the truth MonroviaDave 7:37 PM, 07/28/10 (1) they called them investors in 2007 also, from REITs to The Smallest-Timer. Anyone buying and holding isn't an investor at this point. The ship is sinking. LazyMan 4:14 PM, 07/29/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : As a Flipper in LA, I've had much better luck negotiating SS Deals before and in escrow than buying at the TD sales. : I've been following the auction market for 2 years now in LA and the truth is that investors have been lucky to squeeze out small margin profits in most flip cases; however at this point I estimate 50% of the TD investors in LA are paying more than retail. : : : : Yesterday was a terrible day for LA TD Buyers. One of the condos I bid on sold for 5% above the price it was listed for on the MLS (on market for 36 days). Why would someone pay more for a property at the TD auction than the MLS asking price? : : I'd guess the buyer was ignorant of the MLS listing, ignorant of the general market, and over-enthusiastic. : : That makes it hard on the rest of us. : : Dond [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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