Love Letters. Real Estate

[grsthegreat]

I just received another one today. About $300,000 shy of appraised value

 

[oosik]

My father bought this property - 80 acres - in 1939. It was the final property owned by the original homesteader. 360 acres were homesteaded in 1892. He gave it to me to live on and we moved onto this acreage in 1982. I plan on passing it on to my son. This is the view off my front porch and out across my ten acre lake. God made all our land - he made even less areas as nice as this.

 

[goeduck]

I got one of those offers sent to my PO Box for a house I no longer owned. I was tempted to sign it to waste their time and expense, but I never did.

 

[California]

Is it targeted advertising based on tracking? Or does everyone else see this ad nearly every time when you start a YouTube video:

"Hi! We're --- and we would like to buy your house!"

 

[dmccarty]

We have been getting these "offers" for a few years and they were so low and insulting we just threw the "offers" in the trash. However, I started to collect them to see who was sending the "offers" and if there was any pattern.

I just looked at the "offers" I have kept so far.

There are two or three completely different letters from ONE company that is near us for one parcel. The first letter was early in the year for about $5,000 and acre. The last letter had doubled the price for the same lot. Other letters are from different companies but all are asking well below market price. One idiot in Texas had an "offer" for $2,000 for the entire 5+ acres! $2,000 was not MY typeo. The other offers are still low ball but at least a third of real market price.

There is one letter with no offer at all. He is just asking to buy. It's possible he is looking to buy land to build a house that he would then sell. If I had to talk to any of these people, he would be the one I would talk too since he is not obviously trying to rip us off.

Later,
Dan

 

[California]

There is one letter with no offer at all. He is just asking to buy. It's possible he is looking to buy land to build a house that he would then sell. If I had to talk to any of these people, he would be the one I would talk too since he is not obviously trying to rip us off.

The only sincere offer I've gotten was from the fabulously rich New Yorker (her father had sold his brokerage for $180M) who bought the empty orchard next door and built there, then decided she envied my little hilltop farmhouse that looks down over her land.

She told me she would pay whatever it takes, for me to sell to her. I think I could have said 50~100% over market value. But I replied this place is my roots, its been in the family 3 generations now. And I have decent retirement income, not rich like her but not at any risk of dying broke. So not for sale, ever.

A year or two later she sold and went back to the east saying she just didn't understand Californians.

 

[ultrarunner]

I know from earlier posts you guys are all in hot markets but it has definitely slowed in my little corner of the East SF Bay Area.

Realtors actually calling to promote their listings instead of mailers post sale saying how much over they got for their sellers.

Add to that several on the sidelines decided now is the time to sell so more inventory.

Spoke to one broker and her clients are starting to worry... the not so nice same home down the block sold 200k over in March... 1.2m in 7 days.

Her clients home is really well done and better lot and no offers at 998k

It listed 45 days after the 1.2m sale.

Definite chill is in the air...

Do no several that relocated to the Boise Area... several trade reports list the Boise market as the greatest for a reset...

 

[2manyrocks]

I remember real estate being hot up until it wasn't in 2008. Banks that made real estate loans that were dependent on selling the real estate for a higher price in order to pay the loan got stuck, and many borrowers who depended on their properties to sell for higher prices to pay off their loans ended up in chapter 7.

It seems to me that real estate prices went up a lot higher and a lot faster this go around than then. No one wants to be the one who buys at the top of the market before things go the other way and there are few buyers to be had on the way back down except for the low ball bottom feeders.

 

[dodge man]

Apparently real estate is hot around here, or someone is dreaming. 53 acres, has a new medium double wide on it, a couple of junky out buildings. 30 acres tillable, the rest touted as hunting ground. $850,000.

We have really prime farm ground in this area that is selling for top dollar, this isn’t it. Top dollar for this ground MIGHT be $450,000. Let’s say the double wide adds $50,000(it doesn’t), that puts it at $500,000. They have a sale by owners sign up touting the ground in a hand scratched paragraph with a sharpie and “serious inquiries only” at the end. Should I send them a love letter saying how badly I want their place?

 

[two_bit_score]

I get text messages wanting to buy property I own.

Always have just deleted them and blocked the number but last time I shot them a price and terms. High price, cash, no inspections or conditions, $100,000 Ernest money, etc, etc,.

Funny thing, never get those calls since that time.