The Justa and Lars Honors Bob Brinker Investment Club Thread Message Board

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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread

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Dec 10 4:00 PM EST

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To: Math Junkie who wrote (1330)	7/27/2001 3:26:34 PM
From: Cautious_Optimist	Read Replies (1) of 10065

The sharks emerged in the roaring nineties -- they would of course argue "it's the market"-- you had many of the agents (driving even faster and fancier german cars than the tech workers looking for their new family home) telling you: "You can ONLY submit a bid on Wednesday at 10AM", or "if you have a bid at the asking price you probably don't have a chance." or "if you place any conditions on the bid e.g. subject to inspection or financing approval, the owner will probably not consider your bid." and of course we have learned that an asking price is often a fictitious lure to create a bidding frenzy, not a price an owner would sell for. Commonly, a Sunday open house was packed with people start to finish. Houses in this area (Piedmont, CA) often sold for 20-30% over the original ask price. A fixer-upper 80 year old 2 bedroom 1 bath house on a 5,000 sq ft. LOT could sell for well over $500,000. Now that supply/demand is moving the other way, it will be interesting to see what happens to the sales tactics, ethics and prices when the last of the bubble-buyers dry up.

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