All Forum Posts by: Cherie Tormey

It's helpful to understand the nature of the market's cooling.  What has happened is that owner-occupiers who were in a huge mosh pit earlier this year outbidding each other for homes got themselves under contract and found out the hard way that the bank appraisal came well short of the bid-up price and they didn't have the cash to cover the difference.  Some of those have recycled back into the market with a lower price range but still with loan contingencies, and some have given up and gone the rental route for housing.  Some, a smaller segment, are cash-rich but picky on condition and location of the property.

New construction inventory is down 20%, some hoovered off the market by big capital groups, and in some cases the builders refusing to build under extremely gouged prices for materials (e.g., Canadian lumber).

To get all cash, which some investors are willing to do, especially some of the more established flippers or BRRRR-nauts, it'll be more of a sure thing going with an agent as stated above. If you FSBO you will get a number of characters banging on your door that in hindsight you'll wish you could have sent to an agent instead of having to say no to 30% off asking lowballs all day.

@Cherie Tormey Sorry for your loss! The Denver market may have ever-so-slightly cooled but that just means a handful of offers on most listings instead of a dozen. The market is the hottest for move-in ready properties as many buyers are not wanting to take on major remodels at the moment, but demand is still high for most property types and in most price bands. Where is the property located and what will the price range be that you’re expecting it to sell for?

@Cherie Tormey Hi Cherie, I am a Realtor in the metro area and I would suggest getting an agent to come look at it. I have a few cash buyers that I work directly with because I know they are fair and reasonable. I also have listed a few flips because there are some flippers out there that will pay too much for a home.

As for the market it appears to had the normal seasonal slow down and we are seeing some bidding wars but not like it was a few months ago.

@Cherie Tormey Sorry for your loss! The Denver market may have ever-so-slightly cooled but that just means a handful of offers on most listings instead of a dozen. The market is the hottest for move-in ready properties as many buyers are not wanting to take on major remodels at the moment, but demand is still high for most property types and in most price bands. Where is the property located and what will the price range be that you’re expecting it to sell for?

It's helpful to understand the nature of the market's cooling.  What has happened is that owner-occupiers who were in a huge mosh pit earlier this year outbidding each other for homes got themselves under contract and found out the hard way that the bank appraisal came well short of the bid-up price and they didn't have the cash to cover the difference.  Some of those have recycled back into the market with a lower price range but still with loan contingencies, and some have given up and gone the rental route for housing.  Some, a smaller segment, are cash-rich but picky on condition and location of the property.

New construction inventory is down 20%, some hoovered off the market by big capital groups, and in some cases the builders refusing to build under extremely gouged prices for materials (e.g., Canadian lumber).

To get all cash, which some investors are willing to do, especially some of the more established flippers or BRRRR-nauts, it'll be more of a sure thing going with an agent as stated above. If you FSBO you will get a number of characters banging on your door that in hindsight you'll wish you could have sent to an agent instead of having to say no to 30% off asking lowballs all day.

Wow, what a thread. I just jumped back onto BP forums after a very long hiatus and this made for good reading! As a newcomer to the thread, reading all the comments with fresh eyes and no attachment it seems obvious to me to stay clear of these guys in terms of making an investment. If they can eventually build these homes at the stated prices, then I'd definitely consider that. However, as a former SolarCity/Tesla employee and current competitor, I can see through so many of these "companies" who tout the Tesla Powerwall (or solar roof). They will not get it, period! But it sounds good and, for some reason, people love and want it. I'd personally recommend buying the Ford F-150 and use that as a full-house backup in case of an outage and get dual utility out of it vs. spending $45K on three PWs to hang on the wall waiting for the rare power outage. What's the ROI on that? But I digress.

This thread reads like a story that evokes the memory of that movie title "He's Just Not That Into You."  I'm sure we've all had many a long conversation (or multiple, seemingly endless conversations) with a friend who seems determined to convince us that the girl (or guy) of their dreams does, in fact, love them when all indications are that his person doesn't even know they exist or perhaps has 2-3 real partners already. When I read this thread, either that movie or Trevor Milton is what comes to mind for me, and those are definitely not the thoughts I want to have when considering a potential investment.  Heck, even just a quick search of Google and Google Maps shows nothing related to S2A in Hemet, CA.  Besides, who puts their HQ in Hemet, CA anyway (oh yeah, L.Ron Hubbard and David Miscavige, never mind. LOL) ?!!  Yuck. Sorry residents of Hemet, no offense to you personally.