Roberto Ribas's Discussions

No, but asset class bottoms tend to be extremely long and broad; In fact prices tend to stay low long after funadmentals would suggest they should have started to move up! check oil in the 80's, japan real estate till just now, denmark real estate in the period 90's to 00's, etc etc etc... it seems that "once bitten twice shy" is the motto of buyers and investors after a bubble

alpine292 it gives the simplistic agent representing the seller, someone probably like you, some info to help the seller make the decision to lower the price...

azrob owns 2 homes free and clear, i purchased over a dozen at different time during the late 80's early 90's here in phoenix, i held 5 until 2005 and liquidated the last 3 then.

cash back is illegal in most states; you can do credits for closing costs and some repairs. Repair money is usually kept at title and given out when receipts are presented...a sudden 30K raise in the selling price would cause an honest appraisor to balk; some of them pull the prior listing prices, so doing such a deal today would be risky.I am not saying it never happens, but it would be problematic.

mine came from UC berkeley!

My clients are international companies. I am a professor of finance, my agents license was for me and me alone; I could not see a single reason to give a commission to an agent on my own transactions, and access to MLS data proved invaluable to me in my heyday of buying distressed properties, and fixing them for rentals. I have worked with the odd friend, and when I want to buy more investment properties, it helps to be out on the street with buyers. The houses nobody likes as they are too beaten up are the ones I keep an eye on.... but we are years and big fall away from that being a sensible investment strategy right now.Marci go sit an open house, and fret about the lease of your realtors luxury car!

I am going to take a listing on a friend's house; He is insisting on selling in this crap market, so we are going to discuss a price which will actually get it sold. Not a comparable price, a price undercutting every competitor today. Furhter, I am meeting my contractors there, who don't speak any english, so I can explain to them the repairs that need to be done to the home to have it in sellable condition. Then we are going to drink and let our dogs play in the pool. Do you know enough yet?

It takes many years of hard training, and an extremely difficult exam...Oh wait, it actually takes a 2 week course (90 hours class time) and an exam a reasonably bright dog can pass! (least thats what i remember, i slept through most of the classes!)

ghennis00:I don't know if they will take rates that high; (though lack of foreign buyers combined with the soon slowdown of T-note buying by social security very well may), I think they may late the dollar tank first!I am kinda with you, that Greenspan doesn't seem to really have been that sound a pilot of monetary policy, and some of his old speaches, particularly encouraging variable rate financing seem highly misplaced coming from a central banker...

here are a few other things to think about:Make friends with a title agent, and get preliminary title expedited; they only get paid when it closes, so if something funny is discovered and you cancel, no loss to you. (however be loyal and use them for all of your business! I have one title agent i can have pull title on any foreclosure or pre forclosure i am thinking about so i have all the info before i decide anything)If the seller balks at paying for the appraisal, then counter with seller pays, buyer to reimburse at closing... and if there is no closing because of it or some inspection issue? then you never pay for it.Many agents, even experienced agents are really not that good with either the contracts, or sticky negoitiations... I come from the commercial side, where the knives are much sharper and the process much more brutal...