“You won’t believe the deal my buddy got on his house. He paid thirty cents on the dollar!”<\/p>\n
“You’re right. I don’t believe that.”<\/p>\n
“I’m not fooling with you. The house was worth $300,000, and he picked it up for a hundred grand.”<\/p>\n
“It was worth $300,000 when?”<\/p>\n
“Huh?”<\/p>\n
“He got it for $100,000 in what condition?”<\/p>\n
“Huh?”<\/p>\n
“The house might have been worth $300,000 four years ago. And it might have been in great condition back then, too. What was the list price when your friend put the house under contract?”<\/p>\n
“It was listed at $97,500. But the original listing was for $300,000!”<\/p>\n
“I don’t doubt it. A lot of homes have been on the market for years. What kind of shape was it in when your friend saw it for the first time?”<\/p>\n
“It was great! I mean, there were some holes in the walls, and some of the doors were missing. But it just needed some touch-ups on the paint. And the carpets were hardly stained at all!”<\/p>\n
“What was the kitchen like?”<\/p>\n
“Cherry! All it needed was a range, an oven, a dishwasher, a microwave and a fridge.”<\/p>\n
“In other words everythng but the kitchen sink.”<\/p>\n
“No, that was gone, too. But the counters and cabinets were in great shape, just missing a few knobs.”<\/p>\n
“So some nice folks bought more home than they could afford during the housing boom. They couldn’t make their payments, so they put the home on the market for more than it was really worth, even back then. It sat on the market for four years, through a normal listing or two, through a short-sale listing, and then it finally sold to your friend as a lender-owned home. Is that about right?”<\/p>\n
“You bet! He got a smokin’ deal!”<\/p>\n
“Except he didn’t pay thirty cents on the dollar, he paid $2,500 over list.”<\/p>\n
“Oh, whatever. Did I tell you about the trout I caught last week at Lake Pleasant? I swear, it was bigger than my arm!”<\/p>\n
“Now that I believe.”<\/p>\n
“You won’t believe the deal my buddy got on his house. He paid thirty cents on the dollar!” “You’re right. I don’t believe that.” “I’m not fooling with you. The house was worth $300,000, and he picked it up for a hundred grand.” “It was worth $300,000 when?” “Huh?” “He got it for $100,000 in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":{"0":"post-9525","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-marketing","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":9259,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9259\/consider-a-seller-paid-rate-buy-down-rather-than-price-reduction\/","url_meta":{"origin":9525,"position":0},"title":"Consider a Seller-Paid Rate Buy-Down Rather Than Price Reduction","author":"Brian Brady","date":"July 20, 2009","format":false,"excerpt":"Listing agents, considering offers might advise their sellers to counter-offer with a mortgage rate buy-down strategy rather than to reduce the sales price. We like to help our agents with charts from our Mortgage Lens program.\u00a0 The chart helps to illustrate the power of leverage, to both the seller and\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"rate-buydown","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2009\/07\/rate-buydown.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1389,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1389\/so-bossyou-want-i-should-wacc-dis-guy\/","url_meta":{"origin":9525,"position":1},"title":"So, Boss…You Want I Should WACC Dis Guy?","author":"Brian Brady","date":"May 6, 2007","format":false,"excerpt":"You know how lenders are. We're always talking about WACC-ing a guy who borrows money. Do you REALLY know what we're tawkin' about, though? The Weighted Average Cost of Capital or WACC, is a corporate finance term used to measure the true cost of debt. You can find that figure\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12261,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12261\/the-nar-backs-the-fha-watch-your-back\/","url_meta":{"origin":9525,"position":2},"title":"The NAR Backs the FHA… Who’s Backing You?","author":"Sean Purcell","date":"June 14, 2010","format":false,"excerpt":"Late last week the House of Representatives passed H.R. 5072, the so-called FHA Reform Bill.\u00a0 One of the major components of that bill (you can read the text of the bill here), raises the monthly insurance premium for all FHA buyers.\u00a0 What does that mean to your bottom line? \u00a0\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5707,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5707\/estatelycom-grows-by-more-than-50-adding-chicagoland-and-long-island-ny-to-it-on-line-inventory-of-homes-for-sale\/","url_meta":{"origin":9525,"position":3},"title":"Estately.com grows by more than 50%, adding Chicagoland and Long Island, NY, to it on-line inventory of homes for sale","author":"Greg Swann","date":"November 20, 2008","format":false,"excerpt":"Seattle-based web search start-up Estately.com adds 120,000 new listings to it inventory today, expanding from the west coast to Chicago and Long Island. The upgrade brings Estately's inventory to over 300,000 MLS-listed homes. Also a part of today's announcement, the search-bot will show extended listing histories on homes, a move\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17905,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17905\/overnight-news-sy-simms-an-educated-consumer-is-our-best-customer-zillow-yeah-not-so-much\/","url_meta":{"origin":9525,"position":4},"title":"Overnight News: Sy Simms: \u201cAn educated consumer is our best customer.\u201d Zillow: \u201cYeah… Not so\u00a0much.\u201d","author":"Greg Swann","date":"February 27, 2021","format":false,"excerpt":"If you sell your home to an iBuyer, you will net around 94% of the offered price, after the accumulated impacts of the fine print you did not read are deducted. If you list your home for sale with me or any good lister, you will net around 92.5% of\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1343,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1343\/confessions-of-an-arms-dealer\/","url_meta":{"origin":9525,"position":5},"title":"Confessions of an ARMs Dealer","author":"Brian Brady","date":"April 24, 2007","format":false,"excerpt":"Strategic Equity Positioning is a buzz phrase in the mortgage industry today. The concept of equity management came from the book, Missed Fortune, by Doug Andrews. Andrews, a life insurance agent and financial planner, discovered a strategy that extracts equity from your home to fund tax deferred investments. The response\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/9525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=9525"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/9525\/revisions"}],"predecessor-version":[{"id":9527,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/9525\/revisions\/9527"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=9525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=9525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=9525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Steal this book:<\/em><\/strong> If you want to use this column on your real estate weblog, feel free. Just give me a link back to http:\/\/www.bloodhoundrealty.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"