We’re looking mostly in North County Coastal (apparently, one of the “bullet-proof” areas, as would be our luck) . . . [/quote]
CAR, no area is “bulletproof.” Do not believe this. Older coastal properties typically have a LOT of issues that sellers are reluctant to fix, which beg negotiation (i.e. dry rot, termite damage, concrete half basements that need patching/sealing (Ocean Beach/Coronado), etc. Location is important, but a semi-fixer or fixer is problematic to sell for top dollar, no matter where it is.
Have you bid on any cosmetic or moderate fixers?
[quote=capeman]Don’t fret on that CAR. A lot of these properties are falling out of escrow constantly. The property we are buying is one of these ranch types and we had it fall into our laps after falling out of escrow 3 times for what we would call trivial reasons. The house we bid on before as a low ball had “multiple offers” but magically they all fell through.
It also seems that a lot of realtors are playing games saying there are multiple offers coming in but they never materialize. We would just tell them “Sorry, we don’t want to get into bidding wars.” then hear back not even a week later saying there were none and to submit ours. There’s a lot of gaming going on but a lot of good properties popping up daily.[/quote](emphasis added)
THANK YOU, capeman, I’ve been trying to say this on a couple of other threads but was chastised as having an “unsuitable attitude” for real estate sales. KUDOS to you for calling their bluff and walking and not engaging in the games.
I maintain that “realtors” who turn their listings into fake “blind auctions,” stating to buyers’ agents, “I have several more offers coming in,” esp. if the listing was only posted this morning and you just put in the first offer, are lying, lying, lying.
A buyer should make offers with an explicit 72 or 96 hr. (if submitted on a weekend) clause for acceptance/counter or rejection. If they hear nothing, or worse, a gaming story, WALK!!! As you said, there will always be another property available.
I admire your patience and perseverence. Good luck with your escrow :=)
