I had seen similar homes sold for $380k, with no buyers to deal for 3 - 6 months, during 2008-2009. I did not have guts to buy these homes at that time as entire market was down and 40% homes under short sale at this location.
Now, they are getting around this level. Regret missing the boat
I just went to see one of my clients, and I stumbled across an estate sale on Monroe in San Jose, couple of blocks away from that mall nearby. $900K somebody paid, they will torn it down and make a killing.
I too think Tesla should be bankrupt. But if people liked Tesla at $400 they should buy as much as they can at $250, right?
Much of this “buying at downturn” really boils down to your conviction about things. If you believe in BA RE you would have no problem buying in 2008. Similarly if you believe in Tesla you should have no problem buying in 2018.
If you don’t have convictions you will just miss downturn after downturn. So maybe “buying at downturn” is just not your thing. That’s fine. You can also buy on an uptrend. Either way is fine. Just buy!
What I have learned over the years is that whether it be a house or a car, if it is something you really want just pay a premium for it (if that is what it takes to get it). I hate to miss out on something just because of a few dollars.
I think I always overpaid for my properties at the time I bought. A bull market is very forgiving. That’s another benefit of buying on an uptrend. If you tried to catch bottoms you will most likely miss a few. The psychological pain of watching your purchase go down in value can be quite severe…
My hands are still bleeding from all the FB knives catching.
It dipped to 380k (less than 400k) as I have given above. I did not have guts to buy more when I noticed around 5 homes around that price. At one time, I even tried to offer one 370k, but bank finalized another party ! Finally, I bought one REOs, almost similar home, in near by areas and fully paid the home now. Now, I am even tempted to sell the home at this price !
Regarding TSLA, even if it goes up further, I would wait for an year or two how the company goes. Reason: I was one among the first day Model 3 buyer, yet to get notice my car is ready. Until this happens, I assume TSLA has production issue/delivery issue and never picks up.
I am confident about TSLA coming back, but not confident on economy going up (with rate hikes). When market sentiment is dull, TSLA will not be preferred as TSLA is not fundamentally strong company like GM or BA or GE (still good) or AAPL.