2 questions, Are short sale prices just fantasy? and Where are the fence sitters?

[SD Realtor]

Couldn’t agree more Rustico. Alot of times though it sucks because the listing agent doesn’t have a clue of whether the lender will approve the short sale. In alot of cases as well, the peskiness of the listing agent will make a big difference. I have been nagging and nagging and nagging the asset manager for a short I have listed for months on in quite often. I am always nice and kiss his ass. It does indeed look like the approval will happen. However I think in alot of cases listing agents give up on the listing even when an offer is in… and they just don’t do squat.

Anyways you covered it well. For buyers I am working with on shorts, I just tell em, submit the offer, then basically put in a mental closet. Move on to other properties. Then if it happens all the better. Make enough offers and one will come through. Also not to worry about being obligated to oblige if the offer is accepted months later. You can always get out of it via any of the contingencies.

SD Realtor

[SD Realtor]

citydweller the listings are real and not a mirage. Amy Green at Prudential has alot of foreclosure listings and they are all on the MLS. Here office uses the price in the basement mentality to get alot of offers and eventually they all get bid up. I would very much imagine this is the case for the Rancho Mission listing. At 119k this is home absolutely pencils out. So my read is that this is getting bid up as we type. The Friars Rd listing as you pointed out is a short sale and it will take much longer to process. It may indeed also have offers on it already.

SD Realtor

ps – where you been rus?

[SD Realtor]

citydweller the listings are real and not a mirage. Amy Green at Prudential has alot of foreclosure listings and they are all on the MLS. Here office uses the price in the basement mentality to get alot of offers and eventually they all get bid up. I would very much imagine this is the case for the Rancho Mission listing. At 119k this is home absolutely pencils out. So my read is that this is getting bid up as we type. The Friars Rd listing as you pointed out is a short sale and it will take much longer to process. It may indeed also have offers on it already.

SD Realtor

ps – where you been rus?

[SD Realtor]

citydweller the listings are real and not a mirage. Amy Green at Prudential has alot of foreclosure listings and they are all on the MLS. Here office uses the price in the basement mentality to get alot of offers and eventually they all get bid up. I would very much imagine this is the case for the Rancho Mission listing. At 119k this is home absolutely pencils out. So my read is that this is getting bid up as we type. The Friars Rd listing as you pointed out is a short sale and it will take much longer to process. It may indeed also have offers on it already.

SD Realtor

ps – where you been rus?

[SD Realtor]

citydweller the listings are real and not a mirage. Amy Green at Prudential has alot of foreclosure listings and they are all on the MLS. Here office uses the price in the basement mentality to get alot of offers and eventually they all get bid up. I would very much imagine this is the case for the Rancho Mission listing. At 119k this is home absolutely pencils out. So my read is that this is getting bid up as we type. The Friars Rd listing as you pointed out is a short sale and it will take much longer to process. It may indeed also have offers on it already.

SD Realtor

ps – where you been rus?

[SD Realtor]

citydweller the listings are real and not a mirage. Amy Green at Prudential has alot of foreclosure listings and they are all on the MLS. Here office uses the price in the basement mentality to get alot of offers and eventually they all get bid up. I would very much imagine this is the case for the Rancho Mission listing. At 119k this is home absolutely pencils out. So my read is that this is getting bid up as we type. The Friars Rd listing as you pointed out is a short sale and it will take much longer to process. It may indeed also have offers on it already.

SD Realtor

ps – where you been rus?

[Portlock]

I’m not a fence sitter, I’m totally on the sidelines. I’ll tell you why I’m not moving yet, although I am a bit more intrigued lately.

Bugs’ post applies to yours (Ground floor? think again). The lower priced segmented market may still depreciate into 2009, but the figures are much smaller – how badly burned could one get if you purchase at under 150k? Probably not much.

Right now I could feasibly purchase a 1 bed / 1 bath property and my total monthly PITI-HOA would equal my current rent cost. I believe this will be a buyers market for at least another 12 months conservatively, so I envision that I can purchase more square footage the longer I wait. And my supply of choices is increasing every day. And they’re upgrades over last month’s choices, in quality and location. I see no reason to pull the trigger now, comfortable and happy as a renter.

[Portlock]

I’m not a fence sitter, I’m totally on the sidelines. I’ll tell you why I’m not moving yet, although I am a bit more intrigued lately.

Bugs’ post applies to yours (Ground floor? think again). The lower priced segmented market may still depreciate into 2009, but the figures are much smaller – how badly burned could one get if you purchase at under 150k? Probably not much.

Right now I could feasibly purchase a 1 bed / 1 bath property and my total monthly PITI-HOA would equal my current rent cost. I believe this will be a buyers market for at least another 12 months conservatively, so I envision that I can purchase more square footage the longer I wait. And my supply of choices is increasing every day. And they’re upgrades over last month’s choices, in quality and location. I see no reason to pull the trigger now, comfortable and happy as a renter.

[Portlock]

I’m not a fence sitter, I’m totally on the sidelines. I’ll tell you why I’m not moving yet, although I am a bit more intrigued lately.

Bugs’ post applies to yours (Ground floor? think again). The lower priced segmented market may still depreciate into 2009, but the figures are much smaller – how badly burned could one get if you purchase at under 150k? Probably not much.

Right now I could feasibly purchase a 1 bed / 1 bath property and my total monthly PITI-HOA would equal my current rent cost. I believe this will be a buyers market for at least another 12 months conservatively, so I envision that I can purchase more square footage the longer I wait. And my supply of choices is increasing every day. And they’re upgrades over last month’s choices, in quality and location. I see no reason to pull the trigger now, comfortable and happy as a renter.

[Portlock]

I’m not a fence sitter, I’m totally on the sidelines. I’ll tell you why I’m not moving yet, although I am a bit more intrigued lately.

Bugs’ post applies to yours (Ground floor? think again). The lower priced segmented market may still depreciate into 2009, but the figures are much smaller – how badly burned could one get if you purchase at under 150k? Probably not much.

Right now I could feasibly purchase a 1 bed / 1 bath property and my total monthly PITI-HOA would equal my current rent cost. I believe this will be a buyers market for at least another 12 months conservatively, so I envision that I can purchase more square footage the longer I wait. And my supply of choices is increasing every day. And they’re upgrades over last month’s choices, in quality and location. I see no reason to pull the trigger now, comfortable and happy as a renter.

[Portlock]

I’m not a fence sitter, I’m totally on the sidelines. I’ll tell you why I’m not moving yet, although I am a bit more intrigued lately.

Bugs’ post applies to yours (Ground floor? think again). The lower priced segmented market may still depreciate into 2009, but the figures are much smaller – how badly burned could one get if you purchase at under 150k? Probably not much.

Right now I could feasibly purchase a 1 bed / 1 bath property and my total monthly PITI-HOA would equal my current rent cost. I believe this will be a buyers market for at least another 12 months conservatively, so I envision that I can purchase more square footage the longer I wait. And my supply of choices is increasing every day. And they’re upgrades over last month’s choices, in quality and location. I see no reason to pull the trigger now, comfortable and happy as a renter.

[citydweller]

The Friars Rd listing has been listed for 30 days at $175K and just today was reduced to $149,900. Would that imply that they did not receive any offers at the $175K price?

As enticing as I find these prices, I can’t help but believe that these are just the tip of the iceberg, and that soon I will be able to pick from dozens within this price range.

[citydweller]

The Friars Rd listing has been listed for 30 days at $175K and just today was reduced to $149,900. Would that imply that they did not receive any offers at the $175K price?

As enticing as I find these prices, I can’t help but believe that these are just the tip of the iceberg, and that soon I will be able to pick from dozens within this price range.

[citydweller]

The Friars Rd listing has been listed for 30 days at $175K and just today was reduced to $149,900. Would that imply that they did not receive any offers at the $175K price?

As enticing as I find these prices, I can’t help but believe that these are just the tip of the iceberg, and that soon I will be able to pick from dozens within this price range.

[citydweller]

The Friars Rd listing has been listed for 30 days at $175K and just today was reduced to $149,900. Would that imply that they did not receive any offers at the $175K price?

As enticing as I find these prices, I can’t help but believe that these are just the tip of the iceberg, and that soon I will be able to pick from dozens within this price range.

[Author]

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