Yorba linda want to place offer should I wait need help !!!!!!!!!!!

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yllocal_IHB

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Okay here it is we have excellent credit 20% down and want to put an offer on a house in Yorba Linda. We have been watching the YL market and have a great understanding of todays values in this city. We will offer 8% below what this house would sell for if priced to sell in 30 days in this market. Now we know the market is not at the bottom that is part of the reason for the below the asking price plus -8% offer.This forum has helped to educate us on the the current market, what I would like to know how much further will it drop past my -8% below todays current value.
 
Could you provide more information such as why you have to buy today instead of a year from now... also, post a link to the MLS listing of this property.
 
[quote author="Looking For The Buy" date=1237800936]Okay here it is we have excellent credit 20% down and want to put an offer on a house in Yorba Linda. We have been watching the YL market and have a great understanding of todays values in this city. We will offer 8% below what this house would sell for if priced to sell in 30 days in this market. Now we know the market is not at the bottom that is part of the reason for the below the asking price plus -8% offer.This forum has helped to educate us on the the current market, what I would like to know how much further will it drop past my -8% below todays current value.</blockquote>
Please provide us some more information like the address so we can pull up some more information for you (rental comps, sale comps, foreclosures in the pipeline, etc).
 
Don't need to move now, but we do know others on the same street it is a house single family residence. Would rather not loose our advantage by posting the address or sq ft
 
You can't predict the future but you can look at the facts you have now and analyze future outcomes. I believe prices will fall more than 8%. but WHY?



First, what is the essential problem they call the credit crisis? We are told the bailouts are for new loans - for resurrecting credit markets. And based on random things on the internet, and basically the stock price of many major banks, the banks are insolvent. I don't know how long the US can keep pumping money to make loans, but im going to guess its not forever. Maybe 30 years. Maybe 5 years. Just dont know.



So if there was no bailout at all, whats the worst that could happen? What is it that would be so bad? Basically, its no new loans. No mortgages. As you can imagine, that makes it a 100% cash market, and will probably significantly bring down home prices. I really cannot even fathom what it would do to prices, but it would be, as Bush and Obama have both said, a catastrophe.
 
[quote author="Looking For The Buy" date=1237806194]Would rather not loose our advantage by posting the address or sq ft</blockquote>


<em>"what I would like to know how much further will it drop past my -8% below todays current value. "</em>





You have to give specifics to get specifics.



If you don't want to make the info public then you could PM one of the realtors here for the info trojan suggested... but then again, that's something you could have handled by the agent you've hired.



Good luck.
 
"I want to buy a car, that has leather, and navigation."



"What kind of car do you want to buy?"



"I am not going to tell you that, that would make me lose my advantage on the car I want to buy."



"You don't even want to tell what what brand, like Lexus or BMW?"



"No... then people would know what car I want, and bid it up, so I will never be able to buy one again!"



"That is the dumbest thing I have ever heard. Don't be surprised by the snarky responses to your lack of detail."



Sounds familiar, doesn't it. Need details, or no answers for you... NEXT!
 
[quote author="graphrix" date=1237808933]"I want to buy a car, that has leather, and navigation."



"What kind of car do you want to buy?"



"I am not going to tell you that, that would make me lose my advantage on the car I want to buy."



"You don't even want to tell what what brand, like Lexus or BMW?"



"No... then people would know what car I want, and bid it up, so I will never be able to buy one again!"



"That is the dumbest thing I have ever heard. Don't be surprised by the snarky responses to your lack of detail."



Sounds familiar, doesn't it. Need details, or no answers for you... NEXT!</blockquote>


lol...not that long ago I had a very brief conversation with some tool on the train. He saw my streaming quotes on my laptop and asked if investing in this market is good right now. I told him it depends on what you are investing in and how you approach it. Then I asked him what company is he thinking of buying? He said he would rather not disclose...it's a hot one. LOL! I love people...
 
[quote author="skek" date=1237810881]Zovall is in my head, man! I wrote and deleted two posts before I finally gave up...



ZOVALLLLLL!!!!</blockquote>


LOL! That happened to me on another thread today too. Darn, zovall is good!
 
[quote author="Looking For The Buy" date=1237800936]Okay here it is we have excellent credit 20% down and want to put an offer on a house in Yorba Linda. We have been watching the YL market and have a great understanding of todays values in this city. We will offer 8% below what this house would sell for if priced to sell in 30 days in this market. Now we know the market is not at the bottom that is part of the reason for the below the asking price plus -8% offer.This forum has helped to educate us on the the current market, what I would like to know how much further will it drop past my -8% below todays current value.</blockquote>


YL will drop another 30% to 40% below your -8% in real vs. nominal dollars.
 
[quote author="Looking For The Buy" date=1237800936]Okay here it is we have excellent credit 20% down and want to put an offer on a house in Yorba Linda. We have been watching the YL market and have a great understanding of todays values in this city. We will offer 8% below what this house would sell for if priced to sell in 30 days in this market. Now we know the market is not at the bottom that is part of the reason for the below the asking price plus -8% offer.This forum has helped to educate us on the the current market, what I would like to know how much further will it drop past my -8% below todays current value.</blockquote>


What good is 8% below if the property is overpriced to begin with? Seriously, if you think there's going to be 10 offers on the property once you tell us what the address is, the kool-aid continues to flow. My advice would be to stand pat until you have a better grasp on what you're doing.
 
You're in luck! The price isn't going to fall any more from here - it's going to increase by another 20% in the next six months so you better hurry! This deal won't last forever. Right now all of the major real estate investors who are lurking on this blog are busy bidding up the price on that very house you want. You have already wasted valuable time by not putting in your offer immediately.
 
[quote author="Looking For The Buy" date=1237800936]Okay here it is we have excellent credit 20% down and want to put an offer on a house in Yorba Linda. We have been watching the YL market and have a great understanding of todays values in this city. We will offer 8% below what this house would sell for if priced to sell in 30 days in this market. Now we know the market is not at the bottom that is part of the reason for the below the asking price plus -8% offer.This forum has helped to educate us on the the current market, what I would like to know how much further will it drop past my -8% below todays current value.</blockquote>


LFTB - If <strong>you </strong>were the seller, <strong>would you sell to you</strong> for 8% below what (you have admitted) you could reasonably sell for?
 
[quote author="Looking For The Buy" date=1237810005]All good guys I'll work with what I have just wanted a current estimate on the bottom of the market for Yorba Linda</blockquote>


It really truly depends on what part of YL you're talking about. There is such a wide variety of housing there. Can you be more specific?
 
I agree with AWGEE, anyplace you want to buy in YL is going to drop another 40% in the next two years.



maybe more if you are lucky and pick the right place.
 
I am renting in Yorba Linda and looking to purchase similar to the OP. However, the house I'm interested in has 4 walls, a few windows, and is in Yorba Linda. What's a good offer?
 
[quote author="brealiving" date=1237873570]I am renting in Yorba Linda and looking to purchase similar to the OP. However, the house I'm interested in has 4 walls, a few windows, and is in Yorba Linda. What's a good offer?</blockquote>
Cubicle SF + the number of steps from the garage into the house + the number of windows in the house all x 10 times your age = suggested offer price



***NOTE*** The formula may be off by several hundreds of thousands of dollars. haha
 
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