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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] PRices? Posted by Freddy on June 01, 2003 at 12:40 AM In Reply to: Wait it out or work it out... posted by Ward-CA- on May 31, 2003 at 0:05 AM My Realtor told me that he predicts that house prices will not dip againg for 50+ years due to the growth in population Is he right? How can I know ? You guys must have crystal Balls! Freddy : Hi Ward and company, : : I am a newbie when it comes to investing. This site is an oasis amid a dearth of quality RE info on the net and I'm glad to have found it. : : My question regards trustee sales and agents. I am interested in purchasing bargain properties at trustee sales in So Cal. My real estate agent/broker, who is also the owner of the agency, says she has a lot of experience buying at trustee sales. She says she can find me properties to bid on and will charge me a commission upon my purchase of a property. If I want to flip by reselling through her, she'll charge a reduced commission. : : I am assuming that she has a good relationship with a title company and will get free title reports. : : Should I rely on her professional expertise and experience to invest in this risky area of foreclosures? It sounds like a good idea, but as a rank beginner, I am not sure. Is this normal for agents to do? (I thought that agents generally stayed away from trustee sales.) : : If I decide to go with her, and let her do all the legwork of finding good investment properties, is there anything I should look out for? If she finds good opportunities, I plan to at least double-check them to make sure they are sound investments. : : Any thoughts on this would be greatly appreciated. : =?=?=?=?=?=?=?=?=?=?=?= : Shirley, : Well, in this seller?s hyper real estate market, I?m afraid you won?t have enough elbow room to buy an honest-to-goodness good deal at any So. Cal. foreclosure auction. : Oh, the bidding might open up at very attractive numbers, but it won?t stop until you reach nose bleed levels of 85% to 90% of FMV (fair market value). And if you then have to add a sales commission on top of that, it really won?t be worth it. But please don?t take my word about the state of this market without attending a few sales and checking things out for yourself. Your jaw will drop when you see the astounding price levels properties are being bid up to. : As a consequence, most of my active trainees are working with defaulting owners before the foreclosure sales. Knocking on doors isn?t too appealing to many people. So anyone with a good self-image and physical energy can make a deal or two each month, resulting in monthly profits of $15K-$20K. : And whenever this market cools off and dips into a buyer?s market you?ll find deals galore at the foreclosure auctions, with nary a yuppie in sight. : Hope this helps. Follow Ups: What would you bet on a prediction?? Ward-CA- 2:54 PM, 06/01/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : My Realtor told me that he predicts that house prices will not dip againg for 50+ years due to the growth in population : Is he right? : How can I know ? : You guys must have crystal Balls! : Freddy : : Hi Ward and company, : : : I am a newbie when it comes to investing. This site is an oasis amid a dearth of quality RE info on the net and I'm glad to have found it. : : : My question regards trustee sales and agents. I am interested in purchasing bargain properties at trustee sales in So Cal. My real estate agent/broker, who is also the owner of the agency, says she has a lot of experience buying at trustee sales. She says she can find me properties to bid on and will charge me a commission upon my purchase of a property. If I want to flip by reselling through her, she'll charge a reduced commission. : : : I am assuming that she has a good relationship with a title company and will get free title reports. : : : Should I rely on her professional expertise and experience to invest in this risky area of foreclosures? It sounds like a good idea, but as a rank beginner, I am not sure. Is this normal for agents to do? (I thought that agents generally stayed away from trustee sales.) : : : If I decide to go with her, and let her do all the legwork of finding good investment properties, is there anything I should look out for? If she finds good opportunities, I plan to at least double-check them to make sure they are sound investments. : : : Any thoughts on this would be greatly appreciated. : : =?=?=?=?=?=?=?=?=?=?=?= : : Shirley, : : Well, in this seller?s hyper real estate market, I?m afraid you won?t have enough elbow room to buy an honest-to-goodness good deal at any So. Cal. foreclosure auction. : : Oh, the bidding might open up at very attractive numbers, but it won?t stop until you reach nose bleed levels of 85% to 90% of FMV (fair market value). And if you then have to add a sales commission on top of that, it really won?t be worth it. But please don?t take my word about the state of this market without attending a few sales and checking things out for yourself. Your jaw will drop when you see the astounding price levels properties are being bid up to. : : As a consequence, most of my active trainees are working with defaulting owners before the foreclosure sales. Knocking on doors isn?t too appealing to many people. So anyone with a good self-image and physical energy can make a deal or two each month, resulting in monthly profits of $15K-$20K. : : And whenever this market cools off and dips into a buyer?s market you?ll find deals galore at the foreclosure auctions, with nary a yuppie in sight. : : Hope this helps. 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