Another short steal

[no_such_reality]

[quote=bearishgurl]
It appears that ALL homeowners are paying for the successful consummation of “short sales,” some obviously far more affected by them than others.
[/quote]

Those homeowners would be far more affected by not having short sales. The home would be foreclosed. The stripping and damage far worse, IMHO. The banks hammered and loans even tougher to get.

But, as you suggest, the MLS would have an accurate if even lower sales price.

Which frankly, I think the banks should eat it, kick the DSes to the curb and let everybody get on with it. However, certain people in positions of power think that over-all, kicking 1/4th of owners with mortgages to the curb is going to be somewhat disrupting to society.

1/4th nationwide are basically upside down with negative equity. Kick it hard down and it gets even worse. Why would they keep paying?

[no_such_reality]

[quote=bearishgurl] Those offers you made were not accepted in favor of buyers who were offering more but not as strong of a buyer as you, so fell out of escrow? [/quote]

Typo my part, escrow, not equity.

I meant the homes we looked at with prices we thought were insane (due to deferred maintenance), went into escrow. Then fell out of escrow. Some properties I’ve seen have been in and out of escrow multiple times. Price is still the same, still for sale. It’s an assumption on my part that the buyer is either weaker or more naive in not seeing the deferred maintenance up front or not being able to close the deal or just flaky and backing out.

part of it comes from the anecdotal conversations with the listing agents, my prior agent and others about the lack of quality of offers. Many times we’ve been told that they ‘got’ their price but the buyer isn’t very ‘strong’ so they’re taking back-ups and the house is marked in escrow.

[no_such_reality]

[quote=bearishgurl] Those offers you made were not accepted in favor of buyers who were offering more but not as strong of a buyer as you, so fell out of escrow? [/quote]

Typo my part, escrow, not equity.

I meant the homes we looked at with prices we thought were insane (due to deferred maintenance), went into escrow. Then fell out of escrow. Some properties I’ve seen have been in and out of escrow multiple times. Price is still the same, still for sale. It’s an assumption on my part that the buyer is either weaker or more naive in not seeing the deferred maintenance up front or not being able to close the deal or just flaky and backing out.

part of it comes from the anecdotal conversations with the listing agents, my prior agent and others about the lack of quality of offers. Many times we’ve been told that they ‘got’ their price but the buyer isn’t very ‘strong’ so they’re taking back-ups and the house is marked in escrow.

[no_such_reality]

[quote=bearishgurl] Those offers you made were not accepted in favor of buyers who were offering more but not as strong of a buyer as you, so fell out of escrow? [/quote]

Typo my part, escrow, not equity.

I meant the homes we looked at with prices we thought were insane (due to deferred maintenance), went into escrow. Then fell out of escrow. Some properties I’ve seen have been in and out of escrow multiple times. Price is still the same, still for sale. It’s an assumption on my part that the buyer is either weaker or more naive in not seeing the deferred maintenance up front or not being able to close the deal or just flaky and backing out.

part of it comes from the anecdotal conversations with the listing agents, my prior agent and others about the lack of quality of offers. Many times we’ve been told that they ‘got’ their price but the buyer isn’t very ‘strong’ so they’re taking back-ups and the house is marked in escrow.

[no_such_reality]

[quote=bearishgurl] Those offers you made were not accepted in favor of buyers who were offering more but not as strong of a buyer as you, so fell out of escrow? [/quote]

Typo my part, escrow, not equity.

I meant the homes we looked at with prices we thought were insane (due to deferred maintenance), went into escrow. Then fell out of escrow. Some properties I’ve seen have been in and out of escrow multiple times. Price is still the same, still for sale. It’s an assumption on my part that the buyer is either weaker or more naive in not seeing the deferred maintenance up front or not being able to close the deal or just flaky and backing out.

part of it comes from the anecdotal conversations with the listing agents, my prior agent and others about the lack of quality of offers. Many times we’ve been told that they ‘got’ their price but the buyer isn’t very ‘strong’ so they’re taking back-ups and the house is marked in escrow.

[no_such_reality]

[quote=bearishgurl] Those offers you made were not accepted in favor of buyers who were offering more but not as strong of a buyer as you, so fell out of escrow? [/quote]

Typo my part, escrow, not equity.

I meant the homes we looked at with prices we thought were insane (due to deferred maintenance), went into escrow. Then fell out of escrow. Some properties I’ve seen have been in and out of escrow multiple times. Price is still the same, still for sale. It’s an assumption on my part that the buyer is either weaker or more naive in not seeing the deferred maintenance up front or not being able to close the deal or just flaky and backing out.

part of it comes from the anecdotal conversations with the listing agents, my prior agent and others about the lack of quality of offers. Many times we’ve been told that they ‘got’ their price but the buyer isn’t very ‘strong’ so they’re taking back-ups and the house is marked in escrow.

[bearishgurl]

nsr, this is a bit OT, but have any of the “equity” properties you looked at prior to your “short sale” purchase actually sold? If so, did they sell for more or less than you would have offered on them?

And if you don’t mind my asking, what zip code were you looking at “equity” properties in and what zip code did you ultimately purchase in? Forgive me if you’ve already posted this info somewhere.

[bearishgurl]

nsr, this is a bit OT, but have any of the “equity” properties you looked at prior to your “short sale” purchase actually sold? If so, did they sell for more or less than you would have offered on them?

And if you don’t mind my asking, what zip code were you looking at “equity” properties in and what zip code did you ultimately purchase in? Forgive me if you’ve already posted this info somewhere.

[bearishgurl]

nsr, this is a bit OT, but have any of the “equity” properties you looked at prior to your “short sale” purchase actually sold? If so, did they sell for more or less than you would have offered on them?

And if you don’t mind my asking, what zip code were you looking at “equity” properties in and what zip code did you ultimately purchase in? Forgive me if you’ve already posted this info somewhere.

[bearishgurl]

nsr, this is a bit OT, but have any of the “equity” properties you looked at prior to your “short sale” purchase actually sold? If so, did they sell for more or less than you would have offered on them?

And if you don’t mind my asking, what zip code were you looking at “equity” properties in and what zip code did you ultimately purchase in? Forgive me if you’ve already posted this info somewhere.

[bearishgurl]

nsr, this is a bit OT, but have any of the “equity” properties you looked at prior to your “short sale” purchase actually sold? If so, did they sell for more or less than you would have offered on them?

And if you don’t mind my asking, what zip code were you looking at “equity” properties in and what zip code did you ultimately purchase in? Forgive me if you’ve already posted this info somewhere.

[no_such_reality]

I’m in OC not SD. I’d have to go back and do some in depth checking. My initial reaction last week was literally, ‘oh, it’s still for sale’ when I pulled up my prior search…

We looked at so many homes… most have sold. Many were shorts, many were flips (REOshark flips), many I think went back to the bank, a handful still listed.

I’m looking at a home on Redfin that says listed 82 days. I know it’s been on the market for over a year. They apparently reduced the price 82 days ago because that price is below yours and it was definitely above ours.

There is another home we looked at 9 months before we bought, it had been out of escrow once before we looked at it (buyer couldn’t close). Needed work and seller knew it so willing to take offers lower but… Since been in escrow once, looking for something close. A year later, sold for 5% more than I was told was ‘too’ low to take forward by the selling agent but still 20% below what he was asking. I doubt the buyer was naive or weak. The original one that fell out was likely another story.

[no_such_reality]

I’m in OC not SD. I’d have to go back and do some in depth checking. My initial reaction last week was literally, ‘oh, it’s still for sale’ when I pulled up my prior search…

We looked at so many homes… most have sold. Many were shorts, many were flips (REOshark flips), many I think went back to the bank, a handful still listed.

I’m looking at a home on Redfin that says listed 82 days. I know it’s been on the market for over a year. They apparently reduced the price 82 days ago because that price is below yours and it was definitely above ours.

There is another home we looked at 9 months before we bought, it had been out of escrow once before we looked at it (buyer couldn’t close). Needed work and seller knew it so willing to take offers lower but… Since been in escrow once, looking for something close. A year later, sold for 5% more than I was told was ‘too’ low to take forward by the selling agent but still 20% below what he was asking. I doubt the buyer was naive or weak. The original one that fell out was likely another story.

[no_such_reality]

I’m in OC not SD. I’d have to go back and do some in depth checking. My initial reaction last week was literally, ‘oh, it’s still for sale’ when I pulled up my prior search…

We looked at so many homes… most have sold. Many were shorts, many were flips (REOshark flips), many I think went back to the bank, a handful still listed.

I’m looking at a home on Redfin that says listed 82 days. I know it’s been on the market for over a year. They apparently reduced the price 82 days ago because that price is below yours and it was definitely above ours.

There is another home we looked at 9 months before we bought, it had been out of escrow once before we looked at it (buyer couldn’t close). Needed work and seller knew it so willing to take offers lower but… Since been in escrow once, looking for something close. A year later, sold for 5% more than I was told was ‘too’ low to take forward by the selling agent but still 20% below what he was asking. I doubt the buyer was naive or weak. The original one that fell out was likely another story.

[no_such_reality]

I’m in OC not SD. I’d have to go back and do some in depth checking. My initial reaction last week was literally, ‘oh, it’s still for sale’ when I pulled up my prior search…

We looked at so many homes… most have sold. Many were shorts, many were flips (REOshark flips), many I think went back to the bank, a handful still listed.

I’m looking at a home on Redfin that says listed 82 days. I know it’s been on the market for over a year. They apparently reduced the price 82 days ago because that price is below yours and it was definitely above ours.

There is another home we looked at 9 months before we bought, it had been out of escrow once before we looked at it (buyer couldn’t close). Needed work and seller knew it so willing to take offers lower but… Since been in escrow once, looking for something close. A year later, sold for 5% more than I was told was ‘too’ low to take forward by the selling agent but still 20% below what he was asking. I doubt the buyer was naive or weak. The original one that fell out was likely another story.

[Author]

Posts