That is one way to avoid an 18% interest rate loan.
The 1/2 ton standard cab short beds are where the money is… Them square body Chebys are Hot, you can buy about everything on it new-aftermarket…
And yes, them old Toyota trucks are gold… lol
That’s what they thought. I’d never do that.
That truck is CHEAP compared to what I see people here charging for them on Craigslist. I wouldn’t want one, but I see trucks like this asking for $10k-15k all the time. I doubt they even cost that much new!
The people asking $20,000 have spent too much on engine performance work, wheels/tires, paint and interior work. It is unlikely they will get what they are asking.
It is relative to the times; $10k is two months income. How much did people earn in 1974?
This whole thread is about how much the price of new vehicles and real estate has increased over the years. The real factor is the decline of the dollar.
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Just to put things in perspective:
My 1981 Buick Century Limited(basically power items: Aircon, drivers seat, windows, and antenna), in 1996 with 30,000 miles on it, Bluebooked for less than $3,000 in fair condition.
I doubt a similar Century, with 50,000 or so miles on the clock, would fetch more than that nowadays, even given the demand for ‘real’ cars in this decade.
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I looked this up a few weeks ago because someone on Nextdoor asked about the kind of deal those ‘We buy houses’ people offer. It drew a slew of people who got lowball offers they rejected and did much better than. (The people who took their lowball offers, if any, probably didn’t respond.) I cited Ms Scott’s story because it was reporting, not just opinion.
I get ridiculously low offers on my place in the mail frequently. Somebody must be falling for them.
That said, there are homes in the neighborhood that have been abandoned for years, vandalized by squatters, one even burnt down. I went to a community meeting to force the mayor (who has the power in Albuquerque) to force the sale of one of them because it was a nuisance. I bet the owners of those homes would have been better off if they had sold to a vulture purchaser in the beginning.
I think these folks in Baltimore would have made more had they simply listed it, waited for at least 3 offers. They didn’t have to mitigate the lead themselves.
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My next-door neighbor committed himself to a similar pursuit. A house on the next street was vacant 2018-2021, kids from the nearby apartments broke the windows, relatives boarded them up. Neighbor called code enforcement and the mayor’s office each week asking for the house to be demolished.
The owner of the vacant house had lived there 40 years, he went into in hospice care in 2018. There was a reverse mortgage on the house preventing the man from selling the property. After his passing, the finance company was able to take possession of and sell the house.
My neighbor’s constant complaining had no influence on the situation, the process needed to run its course and the Covid shutdown added to the delays. The dying man incurred a $3,500 abatement fee for having a neighborhood “nuisance”.
I have more respect for my dead neighbors than the living ones.
Lowball offers? Homes for sale here in Southern NH and Norther MA haven’t seen lowball offers in decades. Many get Highball offers - offering well above the asking price which in many cases start a bidding war. I know of one home in Nashua NH in a very desirable neighborhood eventually selling for almost double what the asking price was.
I get email and USPS mail and phone calls from people all the time wanting to buy my home, but not one has an offer attached.. They want me to contact them.
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The same is true in NJ. Last year, this very modest home sold for $999,999, which was $350k more than the price the seller had actually sought. And, this situation wasn’t unique.
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Repossession rates are also nearing all time highs. And people pay their car loans before they pay their rent or mortgage. Used RVs are getting snapped up by people that can’t afford to continue to pay house rents. The RV and trailer parks here are full.
There are hand-made signs on telephone poles asking to buy houses. There’s a truck with a cartoon caveman that advertises that he buys ugly houses.
I suspect most people would get better offers if they asked. Some people don’t.
Some have offering prices as low as 10% of the county’s appraisal. Some have respectable offers. Some have no price. You live in a nicer neighborhood.
The rehab buyers are looking for older homes with distressed sellers, they are not looking for million-dollar well-polished houses.
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Yep, those are the ones featured in TV ads in my area.
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They’re all over here in NH and MA also.
99.9% of people selling their home around here go through an agent. The agent will first get an inspector to evaluate the condition and potential selling price of the home. That is the number they use to determine the selling/listing price. The reason for the over bidding is because homes sell fast. My neighbor had an offer on his home in ONE day. He had 4 offers the day it was listed. Not one person even looked at it. Buyers are desperate. Some have been searching for a home for years.
It’s the region. Even a dump in a poor neighborhood in NH and Northern MA are expensive. Here’s an example of homes in Lawrence MA (just over the border from NH). It is NOT a desirable place to live.
The topic turned into property bottom feeders (usually home flippers…) who make low ball offers on homes hoping the owners (such as elderly, disabled folks, unemployed, etc…) are in dire straits or are anxious to get out of a home with the lowest efforts to sell the property.
I posted about this recently…
Well, I received this in the mail today and they are interested in my home now as we are senior citizens, but I do not know what gave them idea we wanted or needed to get out… I still mow my own 1/2 acre property and right now I am rebuilding the deck in my back yard…
They offer a pretty nice price with the slogan, “As-Is, with no required repairs…”, but they also temper that with the note “pending a visual Inspection…” and that is where they get you, and they tell you how much it will cost (with greatly exaggerated estimates…) for you to have that work done… I will not be calling them.
What makes it so desirable? What happens to non-wealthy people?
How much did it cost them to ask?
I did not contact them and it has been pointed out that the bulk postage on the envelope meant it was probably sent to others also… So we probably were not singled out. Like the Spam Email I get telling me that my MasterCard will be frozen fi I do not contact them immediately… I do not have a MasterCard (and if I did have this card, I would not contact them, I would call the number on the back of the card…)/
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I receive solicitations from real estate hustlers 3 times each week in the mail or on my phone. They target properties that have been occupied by the same owner for many years, owners that may be out-of-touch with inflation. Ownership details are available online via the tax assessor office.
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