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  • February 11, 2009 at 11:36 AM #15027
    honest_abe
    Participant

    Hi —

    I’m trying to figure out what to do about this problem. I hope someone may have good advice.

    Recently an ocean view home in california flashed on the MLS for just a day. It was priced at about half of what a similar comp sold for just up the street, which did not have an ocean view, last September. There are other relevant comps supporting that even with current sales prices (after the financial market crash) this home was still priced over $150,000 below market, about 30%.

    The bank and their realtor for some reason did not want to get the market price for the home. They accepted an offer the first business day and refused to accept any back up offers.

    I made an offer on the home at $51,000 over the listing price but they refused to consider it.

    When I’ve asked around, I find this is happening all over the place. Each person has a similar story.

    Now I am wondering, what regulatory mechanism exists to prevent banks and realtors from teaming up and selling the foreclosed homes to their friends for a song? Who can I talk to about this? The free market is being prevented from working and us taxpayers are paying for insiders to get cheap homes.

    I am interested in pursuing this to the hilt. It has the potential to wreck the financial system.

    Thank you

    February 11, 2009 at 11:46 AM #344486
    Casca
    Participant

    We had sham sales going up. Why not sham sales coming down?

    February 11, 2009 at 11:46 AM #345045
    Casca
    Participant

    We had sham sales going up. Why not sham sales coming down?

    February 11, 2009 at 11:46 AM #344947
    Casca
    Participant

    We had sham sales going up. Why not sham sales coming down?

    February 11, 2009 at 11:46 AM #344916
    Casca
    Participant

    We had sham sales going up. Why not sham sales coming down?

    February 11, 2009 at 11:46 AM #344808
    Casca
    Participant

    We had sham sales going up. Why not sham sales coming down?

    February 11, 2009 at 11:55 AM #344496
    blahblahblah
    Participant

    Now I am wondering, what regulatory mechanism exists to prevent banks and realtors from teaming up and selling the foreclosed homes to their friends for a song? Who can I talk to about this? The free market is being prevented from working and us taxpayers are paying for insiders to get cheap homes.
    I am interested in pursuing this to the hilt. It has the potential to wreck the financial system.

    Welcome to the new Soviet, comrade. Good housing is for political insiders only. The rest of you get the dregs. The parallels to the old USSR are amazing. Instead of the communist party system we now have a crony capitalist system where the insiders game everything to advance themselves at the expense of the rest of us. The colors are different but the results are the same.

    February 11, 2009 at 11:55 AM #345055
    blahblahblah
    Participant

    Now I am wondering, what regulatory mechanism exists to prevent banks and realtors from teaming up and selling the foreclosed homes to their friends for a song? Who can I talk to about this? The free market is being prevented from working and us taxpayers are paying for insiders to get cheap homes.
    I am interested in pursuing this to the hilt. It has the potential to wreck the financial system.

    Welcome to the new Soviet, comrade. Good housing is for political insiders only. The rest of you get the dregs. The parallels to the old USSR are amazing. Instead of the communist party system we now have a crony capitalist system where the insiders game everything to advance themselves at the expense of the rest of us. The colors are different but the results are the same.

    February 11, 2009 at 11:55 AM #344957
    blahblahblah
    Participant

    Now I am wondering, what regulatory mechanism exists to prevent banks and realtors from teaming up and selling the foreclosed homes to their friends for a song? Who can I talk to about this? The free market is being prevented from working and us taxpayers are paying for insiders to get cheap homes.
    I am interested in pursuing this to the hilt. It has the potential to wreck the financial system.

    Welcome to the new Soviet, comrade. Good housing is for political insiders only. The rest of you get the dregs. The parallels to the old USSR are amazing. Instead of the communist party system we now have a crony capitalist system where the insiders game everything to advance themselves at the expense of the rest of us. The colors are different but the results are the same.

    February 11, 2009 at 11:55 AM #344926
    blahblahblah
    Participant

    Now I am wondering, what regulatory mechanism exists to prevent banks and realtors from teaming up and selling the foreclosed homes to their friends for a song? Who can I talk to about this? The free market is being prevented from working and us taxpayers are paying for insiders to get cheap homes.
    I am interested in pursuing this to the hilt. It has the potential to wreck the financial system.

    Welcome to the new Soviet, comrade. Good housing is for political insiders only. The rest of you get the dregs. The parallels to the old USSR are amazing. Instead of the communist party system we now have a crony capitalist system where the insiders game everything to advance themselves at the expense of the rest of us. The colors are different but the results are the same.

    February 11, 2009 at 11:55 AM #344818
    blahblahblah
    Participant

    Now I am wondering, what regulatory mechanism exists to prevent banks and realtors from teaming up and selling the foreclosed homes to their friends for a song? Who can I talk to about this? The free market is being prevented from working and us taxpayers are paying for insiders to get cheap homes.
    I am interested in pursuing this to the hilt. It has the potential to wreck the financial system.

    Welcome to the new Soviet, comrade. Good housing is for political insiders only. The rest of you get the dregs. The parallels to the old USSR are amazing. Instead of the communist party system we now have a crony capitalist system where the insiders game everything to advance themselves at the expense of the rest of us. The colors are different but the results are the same.

    February 11, 2009 at 11:56 AM #344931
    PadreBrian
    Participant

    Give us an MLS # and we’ll talk.

    February 11, 2009 at 11:56 AM #345060
    PadreBrian
    Participant

    Give us an MLS # and we’ll talk.

    February 11, 2009 at 11:56 AM #344962
    PadreBrian
    Participant

    Give us an MLS # and we’ll talk.

    February 11, 2009 at 11:56 AM #344823
    PadreBrian
    Participant

    Give us an MLS # and we’ll talk.

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