Smacked upside of the head!

Literally smacked my brother in law upside the head today...He put a bid in on a foreclosure in Elk Grove for only 10k under asking...

 

http://www.movoto.com/real-estate/homes-for-sale/CA/Elk-Grove/9543-Tarbert-Dr-102_80011346.htm

 

He said he "might consider hiring an agent soon" about a week and a half ago when I last saw him.  What is with people?  Buying a house is not like grabbing a pack of gum when you're standing in line for check out!  That's the second person close to me to act like this...no thought or reflection at all....

 

...and he bid on a house in Elk Grove FTLOG!

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February 06 2008 - US

Replies (26)

ELK F%#$KING GROVE!

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February 06 2008
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The best decissions are usually based on emotions.  He probably is seeing something we are not.

 

By the way, I miss your other avatar that you were using yesterday!

 

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February 06 2008
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Callista! Never seen you that /\ upset!

 

Is Marci from that area? Maybe she can help.

 

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February 06 2008

"the best decisions are usually based on emotions"- Pasadena are you joking? that may be the STUPIDEST quote ever...

 

"the worst decisions are usually based on emotions"-

 

Ask anybody who is divorced which of those statments is truer...

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February 07 2008

This is so true - you cannot bring emotion to business decisions.. speaking from experience here... LOL!

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February 07 2008

Hence, my two day rule. When I get emotional, I wait two days before making a decision.

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February 07 2008

yes emotional decisions may be fun for a week or so....but then when reality comes home....well

nuff said

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February 07 2008
Profile picture for BtrL8ThnNvr

Elk Grove-- I have no idea where that is...

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February 07 2008
Profile picture for Randy_H

Emotions lead to the worst decisions people make.  Unfortunately, those same emotions often cause them to believe those decisions were good ones, or at least not as bad as they really were.

 

 

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February 07 2008

It's by Sacramento, CA  Ms. Sherlock.

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February 07 2008
Profile picture for BtrL8ThnNvr

I see. Thanks Marci.

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February 07 2008
Profile picture for Gallo de fuego

you should congradulate him. "smacked him in the head" yikes.

 

Du bist eina Duesche Lander nicht?

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February 07 2008
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If that's supposed to be German, it's not comprehensible. 

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February 07 2008

Elk Grove=the armpit of Sacramento,..I would never congratulate someone for buying there...  Do you ever feel like no-one is listening to a word coming out of your mouth??

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February 07 2008

all the time

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February 07 2008
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complex decisions cannot be made without using emotional processing (research)

 

Anyone that thinks they only use logical processing should try to build an Aritificial Inteligence model based on the logic.  Even if it can be done, it is not efficient.  Part of the reason a living brain (even the simplest) is so much faster at pattern matching than linear-logic digital machines, in spite of the digital machines having much faster clock rates, is that the patern matching uses emotional processing, and a neural network based on multiple path sequence timing.

 

 

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February 08 2008
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By the way, the research also indicates that it doesn't matter if you use emotional processing or linear logic, or a combination of both - IF you start with bad data and insufficent experience, you will make a poor decission regardless of the method.  Thus, if short of data, you should get as much input from others as you can ahead of time.

 

 

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February 08 2008
Profile picture for Mr. Dingle L. Berry

Jarrod...back to 1st grade German for you! lol

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February 08 2008
Profile picture for orange hammer

I imagine you wearing your Zena outfit when you smacked him. 

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February 08 2008
Profile picture for lucydjacobs

Callista,

 

I feel for you.  There is a certain type of personality that I've run into frequently in life, and it seems to go for the presumed "deal" rather than the value of the purchase and if it will fit needs of buyer.

 

This is the buyer that overpays for a hunk of junk at a police-salvage yard auction thinking it's a steal. It is - for the car auction selling it to a sucker.  They like the gamble or the game of the deal. Your brother heard foreclosures are the way to go for a good deal. So he hears of one, puts in a bid impulsively, not thinking through comparables or wishing to do the homework about the home's true value, the neighborhoods and schools. Then there are others who buy homes for the darndest reasons, and ones that are only half right based on one magazine article or radio talk show host's advice. As in, they get out a tape measure and buy the cheapest or biggest one, not a bad plan, except they forget to take into account closet space, yard, criminals down the street, how to fit one's five kids into an eat-in kitchen without a dining room option. What good is a home that the seller offers closing costs if your family will be miserable in it, and the home difficult to sell 10 or more years later. That sort of thing.

 

You did what you could,  Callista. Now try to get him out of the bid.

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February 08 2008

"You did what you could, Callista. Now try to get him out of the bid."

 

I didn't think that was possible..aren't they legally binding?  In any case I don't think he'd listen to me anyways..he obviously hasn't been up till now.

 

WHat really kills me though is that it was another impulse buy just like the one that my best friend made last summer.  I went away on a survey in the Sierra Nevada for Camassia lillies (right) and by the time I got back only two weeks later she had bought a house.  She wasn't even considering it when I left...

 

..and of all the places in Sacramento to buy...he's buying Elk Grove..if it were anywhere else (Spain for God's sake) it wouldn't bother me half as much.  It's the Cardinal sin in real estate..buy a nice house in sh!tty area.

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February 09 2008
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Aww, Carrie, you don't feel like anyone's listening? Hey, Marcia, I mean Marci where are  you?!

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February 09 2008

I hate watching family and friends make messed up choices. The worst part is mine always come to me afterward and want my $$$ to help them when I told them from the get go they shouldn't do something. They don't have to listen to me but I don't have to bail them out either.

 

I have sinced learned to nod and smile because telling them anything that makes sense is like pouring water into a cracked pot. I don't bother to give advice even when it is asked for because they don't want advice they really want someone to validate their choice.

 

Then they try to give me financial advice and I have to keep from laughing when some one upside down in their home, no money, and bad credit wants to give me financial advice. It is quite funny.

 

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February 09 2008

What did I do now?  BTW, my name really is Marcia, but it's not pronounced Marsha.

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February 09 2008
Profile picture for Gallo de fuego

So Marci should be pronounced Marshie. haha Jk. What a beautiful name.

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February 09 2008
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"aren't they legally binding"?

 

Yes & no.  Almost all contracts have various loopholes.  In realestate, it is usually the "inspection" and what is found in the inspection that could break the deal.  Foreclosures may be more complicated.  The other loophole often is the appraisal.  If the appraisal comes in too low, the contract is usually written that such that the loan would not be approved and the contract terminated.  (Possibly some loss of earnist money).

 

Obviously you cannot persuade someone that makes an emotional decission with "logic".  Instead, you should affirm that he made the decission and that it is his decission, and that you will not try to talk him out of it, but that you have a few questions.  Then proceed to ask him the questions that will allow him to see the consequences on his own...

 

It will take about a week to two weeks for him to process the questions, so don't rush him, but be there to help him find a way out of the contract when he comes back to you for help in a few weeks.

 

 

 

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February 10 2008
 
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