Another short steal – Page 19 – Piggington's Econo-Almanac

This topic has 300 replies, 13 voices, and was last updated 13 years, 8 months ago by sdrealtor.

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February 4, 2011 at 2:50 PM #663932

no_such_reality
Participant

The 2nd probably got five cents on the dollar if they’re lucky with the first holding that boat.

As for the steal. Or deal depends. Seems like a lot of people feel that this house, in this situation, even listed at $850K should have been sold for a million.

Given your experience, and other’s concerns of fraud, how much below ‘short sale’ market do you think this was with the rumors what the state of affairs on the property (i.e BBQ island)?

At $850K listing last September, how many offers do you think they should have gotten given the typical short sale experience of trying to get people to see it?

February 4, 2011 at 5:58 PM #662822

sdrealtor
Participant

Looking at the pictures it did not look in horrible condition. A missing BBQ grill and appliances are non issues for a house like that. It was a well upgraded house with hardwood floors, plantation shutters, tankless hot H20 heater, salt water pool, outdoor kitchen (just needed a $500 BBQ), outdoor fireplace etc.

If they put a lockbox on that house and say you can see it with a couple hours or even 24 hour notice, they would have at least 10 offers in a week for something like that.

If they list it for 750K they would get 50 offers in a week

February 4, 2011 at 5:58 PM #662884

sdrealtor
Participant

Looking at the pictures it did not look in horrible condition. A missing BBQ grill and appliances are non issues for a house like that. It was a well upgraded house with hardwood floors, plantation shutters, tankless hot H20 heater, salt water pool, outdoor kitchen (just needed a $500 BBQ), outdoor fireplace etc.

If they put a lockbox on that house and say you can see it with a couple hours or even 24 hour notice, they would have at least 10 offers in a week for something like that.

If they list it for 750K they would get 50 offers in a week

February 4, 2011 at 5:58 PM #663487

sdrealtor
Participant

Looking at the pictures it did not look in horrible condition. A missing BBQ grill and appliances are non issues for a house like that. It was a well upgraded house with hardwood floors, plantation shutters, tankless hot H20 heater, salt water pool, outdoor kitchen (just needed a $500 BBQ), outdoor fireplace etc.

If they put a lockbox on that house and say you can see it with a couple hours or even 24 hour notice, they would have at least 10 offers in a week for something like that.

If they list it for 750K they would get 50 offers in a week

February 4, 2011 at 5:58 PM #663624

sdrealtor
Participant

Looking at the pictures it did not look in horrible condition. A missing BBQ grill and appliances are non issues for a house like that. It was a well upgraded house with hardwood floors, plantation shutters, tankless hot H20 heater, salt water pool, outdoor kitchen (just needed a $500 BBQ), outdoor fireplace etc.

If they put a lockbox on that house and say you can see it with a couple hours or even 24 hour notice, they would have at least 10 offers in a week for something like that.

If they list it for 750K they would get 50 offers in a week

February 4, 2011 at 5:58 PM #663962

sdrealtor
Participant

Looking at the pictures it did not look in horrible condition. A missing BBQ grill and appliances are non issues for a house like that. It was a well upgraded house with hardwood floors, plantation shutters, tankless hot H20 heater, salt water pool, outdoor kitchen (just needed a $500 BBQ), outdoor fireplace etc.

If they put a lockbox on that house and say you can see it with a couple hours or even 24 hour notice, they would have at least 10 offers in a week for something like that.

If they list it for 750K they would get 50 offers in a week

March 6, 2011 at 10:04 PM #674068

sdrealtor
Participant

We have our answer on this one. This house just closed on Barberry which is the street BELOW this one. It doesnt have as good a view and its not a 1 story house. No way in hell this house is worth $600K more than the one on Camphor…no way…no how.

http://www.sdlookup.com/Property-04967DAE-6707_Barberry_Pl_Carlsbad_CA_92011

March 6, 2011 at 10:04 PM #674126

sdrealtor
Participant

We have our answer on this one. This house just closed on Barberry which is the street BELOW this one. It doesnt have as good a view and its not a 1 story house. No way in hell this house is worth $600K more than the one on Camphor…no way…no how.

http://www.sdlookup.com/Property-04967DAE-6707_Barberry_Pl_Carlsbad_CA_92011

March 6, 2011 at 10:04 PM #674737

sdrealtor
Participant

We have our answer on this one. This house just closed on Barberry which is the street BELOW this one. It doesnt have as good a view and its not a 1 story house. No way in hell this house is worth $600K more than the one on Camphor…no way…no how.

http://www.sdlookup.com/Property-04967DAE-6707_Barberry_Pl_Carlsbad_CA_92011

March 6, 2011 at 10:04 PM #674875

sdrealtor
Participant

We have our answer on this one. This house just closed on Barberry which is the street BELOW this one. It doesnt have as good a view and its not a 1 story house. No way in hell this house is worth $600K more than the one on Camphor…no way…no how.

http://www.sdlookup.com/Property-04967DAE-6707_Barberry_Pl_Carlsbad_CA_92011

March 6, 2011 at 10:04 PM #675222

sdrealtor
Participant

We have our answer on this one. This house just closed on Barberry which is the street BELOW this one. It doesnt have as good a view and its not a 1 story house. No way in hell this house is worth $600K more than the one on Camphor…no way…no how.

http://www.sdlookup.com/Property-04967DAE-6707_Barberry_Pl_Carlsbad_CA_92011

March 6, 2011 at 10:12 PM #674078

sdrealtor
Participant

ON the other hand we have this where the short sale process worked. CAR posted this one when it was listed at $975K which seemed way too low. The lender got it right and turned down an offer well below FMV. They required fair market value and it just closed also. Some lenders get it right (Indymac in this case) and some get snookered through their own ineptitude.

http://www.sdlookup.com/Property-D7D438DF-710_Cole_Ranch_Rd_Encinitas_CA_92024

March 6, 2011 at 10:12 PM #674136

sdrealtor
Participant

ON the other hand we have this where the short sale process worked. CAR posted this one when it was listed at $975K which seemed way too low. The lender got it right and turned down an offer well below FMV. They required fair market value and it just closed also. Some lenders get it right (Indymac in this case) and some get snookered through their own ineptitude.

http://www.sdlookup.com/Property-D7D438DF-710_Cole_Ranch_Rd_Encinitas_CA_92024

March 6, 2011 at 10:12 PM #674748

sdrealtor
Participant

ON the other hand we have this where the short sale process worked. CAR posted this one when it was listed at $975K which seemed way too low. The lender got it right and turned down an offer well below FMV. They required fair market value and it just closed also. Some lenders get it right (Indymac in this case) and some get snookered through their own ineptitude.

http://www.sdlookup.com/Property-D7D438DF-710_Cole_Ranch_Rd_Encinitas_CA_92024

March 6, 2011 at 10:12 PM #674885

sdrealtor
Participant

ON the other hand we have this where the short sale process worked. CAR posted this one when it was listed at $975K which seemed way too low. The lender got it right and turned down an offer well below FMV. They required fair market value and it just closed also. Some lenders get it right (Indymac in this case) and some get snookered through their own ineptitude.

http://www.sdlookup.com/Property-D7D438DF-710_Cole_Ranch_Rd_Encinitas_CA_92024
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