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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (55097)	10/2/2001 5:42:44 PM
From: Bucky Katt	Respond to of 57584

Maybe some will not have a choice, and the lenders will do the selling for them?

To: Jim Willie CB who wrote (55097)	10/2/2001 5:49:16 PM
From: Tradelite	Respond to of 57584

<<"snapped up by investors" some will for sure, but where is all this loose money coming from?>> Professional real estate investors are exactly what the title implies---you need to sell or borrow, they have exactly what you need, at great cost/loss to you. Recently became aware of a local consortium of real estate agents/investors who lend money to people who, for various reasons, don't want to deal with conventional lenders--average interest rate: 13-14 percent. And they don't lack for customers. And I'm sure they get the house if the borrower defaults.

To: Jim Willie CB who wrote (55097)	10/3/2001 1:31:43 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 57584

Jim Woolly, Good posts. An illiquid market like real estate won't collapse all at once. If some folks are good at ignoring their losing trades (while talking up their 3 baggers over drinks), think how much better at denial people are sitting on a 4,000 square foot house in Bellevue, WA which they paid $800,000 for, sitting with a $600,000 mortgage. Similar houses go begging at $695,000, $635,000 . . . Do you think they actively reconsider where their $200K of equity has gone? Wait till divorce, etc. forces their hand out of the market at $525,000. Oh well, it's only money. Kb