[Grovenet] Forest Grove's Future (WAS: America'sTrillion-Dollar Baby)

[Ron D'Eau Claire]

Sure you paid "market". The "market" is, by definition, what you paid for
it!

People have an idea that "market" price is some magical number that comes
out of the stratosphere. It's not. It's just the price it brought at sale. 

If the seller significantly discounted your home below the "asking" price,
it was because they felt it was cheaper for them to dump it than hold onto
it. Any seller who is smart will make that analysis, especially some
circumstance is forcing the issue. 

So why would a home sell "cheap". Well, if it was the seller who was facing
foreclosure, but the foreclosure hadn't happened yet and your offer covered
the mortgage payoff and other essential costs, it would be better for the
seller to accept your offer and avoid having a loan default on his/her
record. Such a home is not "in foreclosure" or the owner wouldn't have the
right to sell. There are a lot of reasons why people might feel pressured to
sell, but they seldom need to adjust the price significantly unless they (or
their agent) is failing to market the home properly. 

A bank might sell a home below their asking price if they find it is taking
too long to sell. But the only reason it would take too long to sell is if
they make a mistake in setting the right price on it in the first place. To
the buyer, it might look like they got a real 'deal' but, in reality, they
simply paid the market price. 

Ron D'Eau Claire 


-----Original Message-----
Ron,

My original post and last post should have had a smiley face.  They  
were intended as humor.

"Decimated" , 10%, 12%

Oh well, if it has to be explained it wasn't successful as humor.   
The "OH!" factor is gone.

BTW, we bought a home in foreclosure and we didn't pay market.   
Otherwise we couldn't have qualified.

David