Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (35664)	7/19/2005 2:51:36 PM
From: John Vosilla	Respond to of 306849

Funny how the dynamics of distressed investing have changed. Before this bubble you got the great deals buying at the courthouse steps or Bank REO's. Today in the hot markets the information flow and competition makes these attempts difficult at best. Many moved on finding unsophisticated owners (the farther away they lived, the older they were and less English they spoke the better) not aware of how much the moving target of home values have moved up.

To: GraceZ who wrote (35664)	7/19/2005 3:25:38 PM
From: redfish	Respond to of 306849

"It's as if they are simply fishing for people who are either too feeble to know what their house is worth or born yesterday. I guess like anything it's just a matter of numbers, send out enough and you'll hit those few people." That's basically it, if you fish enough you find an elderly person who has no idea what his/her home is worth. With an all cash deal there is no appraisal, and most folks are adverse to lawyers so things go pretty smoothly. When I was responsible for marketing at my dad's firm at the tender age of 13 my official title was "Minister For Propaganda," lol. Now that dad is a grumpy old man he forgets about all the grumpy old men who used to call his office and curse me out for sending them junk mail.