[quote=briansd1][quote=sdrealtor]FYI on the short sale. It shows buyer agent to be “out of area agent”. Thats usually a realtor who represented both sides but is trying to hide from their peers the fact that they slipped their own undermarket buyer into the house. It doesnt fool any of us.

BTW, those REO’s havent closed yet and those are asking not sold prices. The first REO looks like it is on the top floor which should be a $10K premium anyway. Not great examples Brian.[/quote]

Not sure about about the out of area agent think. The buyer’s agent is out of area, but the seller’s agent is in San Diego.

Not in San Diego, but I have an offer on a place listed by an out of area agent. The list price is about 10% low, but I don’t know the listing agent.

Anyway, BG has a problem with the “teaser” prices of short sales, but I don’t see a problem with them. There are issues with wait and the work involved with short sales, so the banks should be thankful they don’t have to deal with them.[/quote]

When I see out of area agent its rarely the truth. Its almost always the listing agent not admitting to both sides. Not that there arent out of area agents, its just not that common.

As for short sales being ultra low, those are rare also. Yes there is some fraud but most short sales sell for fair market value. The problem is lots of people still think their homes are special and think any sale they dont like is too low. If they had access to all the market sales (short, REO and equity) in an easy to use tool like the MLS they would see the sales are almost always reflective of the current true market.