[quote=murf2222]You know, the reason they slam-dunked your offer so fast was because you went directly to the listing agent. They wanted to reel in both ends of the commission and the flood of over-bid offers that were gonna come in gave them the motivation to shut the door fast.
Unfortunately taking this type of strategy is almost a must to even have a chance of landing a deal in this market.
I really feel ya Hawk in regards to some of the comments you make in your original post. I too feel like I have put my life on hold for the last 5 years waiting for the market to change. When I think back to all of the deals the wife and I have lost out on over the last 18 months it’s no surprise I am pissed and depressed all the time.
We have made serious attempts at buying no less than 6 homes during this period. Think about that for a moment…… 6 different houses that we’ve gone *all-in* on emotionally, envisioning them as our home. When the rug gets pulled out from under you that many times it takes it’s toll.
In times like these I am envious of the sheeple out there that look at a homes price as being LESS important to them than the other, less tangible things that having a “HOME” gives them. this frugality of mine is taking years off my life!
Murf2222[/quote]
We said over and over that if we didnt get this house we would not make an offer again for a long time. What you said about seeing yourself in the house, how you would change the home, and how much better your life would be just takes a toll when you do not get it or see it swept out from under you buy multiple offers and yanked out of the price range that most are willing to pay. I was lucky cause We have the “ownership” feeling already at least from buying the cabin last year. I wil tell you one thing that was said to me a few times. It is not illegal to throw offers into the trash by the listing agents. They have a responsibility to the seller in presenting qualified offers (thats what they say). On my brothers house I bought for him (50% down) I went to the listing agent 1 day after list. The realtor that signed our offer his title was “assistant to listing agent”. 6 offers went into the trash and we got the verbal the next day. Going through the listing isnt 100% but being fast after listing and going to the listing agent will help ones chances more so than people that show up a week later with their own realtor. But on the other hand the banks do have agents of their own that watch for this type of action is what I was told when I asked why the all cash offer was sent to the bank. The agent of mine was in the same office but not on the listing agents team. So again It does help but its not 100%. If that all cash came in 20-30k more I would not even have a story on here today.
edit: I got emotional reading your post murf. I know the exact feeling and the sleepless nights. What a damn shame what this market has become after it was so in our favor over the years. There really should be some normal action sometimes. We shouldnt be from no one wanting a house to everyone wanting one. I hope that will change some this winter.
Edit agin: I have seen 5 houses in the 3 mile radius we have been looking to buy that are empty, owners gone, bank owns them. Not any are on the mls or for sale at all. They are holding back properties that I know of in my area 100%. They have been empty 6+ months now.
