Are they still buying houses in this market?
I always thought these folks were kinda fly-by-night, the “We Buy Houses” crowd. Now I wonder if they are still buying houses or if they’ve flown out in this harsh new light.
As they leave, I only hope they take their ugly signs with them. The worst are the “We Buy Ugly Houses” signs. Can someone please spank those visual polluters with a credit default swap?
Wayan: Married, mortgaged, and soon to be a father, Wayan Vota is in the fast lane to mid-life respectability - until the day his brood finds his intimate journal of global traveling and curses him with the ever-eternal reply "I'm gonna be just like you, Dad!"
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2 Responses to “Still Buying Houses?”
October 14th, 2008 at 2:32 pm
Definitely.
The We Buy House for Cash people, ALWAYS buy for pennies on the dollar. It’s the only way to make money in that business. You buy @ 30-50% of market value from distressed sellers, and unload for 60-80% of Market Value. Speed is the name of the game.
October 15th, 2008 at 1:25 am
Wow! WHo would sell at 30-50% of a house’s value? That has to be some serious distress. You would get more than that with a simple auction.