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  • February 11, 2009 at 1:49 PM #344601
    donaldduckmoore
    Participant

    why are you so sure there is market manipulation going on? DO you really have evidence? I mean hard evidence but not rumor!

    February 11, 2009 at 2:01 PM #345042
    Anonymous
    Guest

    Banks are private institutions, not government entities (yeah, I know that all the bailouts blur this distinction, but it is still fundamentally true).

    If it is happening, there are certainly some questionable ethics involved in the situation. But this is a problem for the bank and it’s shareholders. The general public really can’t do much about it unless there is a specific regulation to prohibit this (and I doubt that there is).

    February 11, 2009 at 2:01 PM #345170
    Anonymous
    Guest

    Banks are private institutions, not government entities (yeah, I know that all the bailouts blur this distinction, but it is still fundamentally true).

    If it is happening, there are certainly some questionable ethics involved in the situation. But this is a problem for the bank and it’s shareholders. The general public really can’t do much about it unless there is a specific regulation to prohibit this (and I doubt that there is).

    February 11, 2009 at 2:01 PM #344933
    Anonymous
    Guest

    Banks are private institutions, not government entities (yeah, I know that all the bailouts blur this distinction, but it is still fundamentally true).

    If it is happening, there are certainly some questionable ethics involved in the situation. But this is a problem for the bank and it’s shareholders. The general public really can’t do much about it unless there is a specific regulation to prohibit this (and I doubt that there is).

    February 11, 2009 at 2:01 PM #345074
    Anonymous
    Guest

    Banks are private institutions, not government entities (yeah, I know that all the bailouts blur this distinction, but it is still fundamentally true).

    If it is happening, there are certainly some questionable ethics involved in the situation. But this is a problem for the bank and it’s shareholders. The general public really can’t do much about it unless there is a specific regulation to prohibit this (and I doubt that there is).

    February 11, 2009 at 2:01 PM #344611
    Anonymous
    Guest

    Banks are private institutions, not government entities (yeah, I know that all the bailouts blur this distinction, but it is still fundamentally true).

    If it is happening, there are certainly some questionable ethics involved in the situation. But this is a problem for the bank and it’s shareholders. The general public really can’t do much about it unless there is a specific regulation to prohibit this (and I doubt that there is).

    February 11, 2009 at 2:24 PM #345072
    macromaniac
    Participant

    Honest Abe,

    I like that name although it doesn’t fit well with reality in the “free markets”.

    Free Markets? Free Markets? Did somebody say free markets? Nobody rides for free..it’s a myth.

    Here is my advice. Get on MEET UP and find a group of people who work at the banks. Go MEET UP and “Network”, buy them their favorite drinks and talk about “REO Homes” that “Their” bank has and how you might be able to get them on the cheap. Also, find out their favorite vacation destination.

    Or you can find a good BPO outfit that likes to value the property you want to buy VERY LOW…kinda like how the appraiser valued it VERY HIGH during the boom.

    This is the real world Honest Abe and it will NEVER change as long as there are humans and Maslows Hierarchy of needs….

    Sorry to burst your Utopian bubble…

    February 11, 2009 at 2:24 PM #345104
    macromaniac
    Participant

    Honest Abe,

    I like that name although it doesn’t fit well with reality in the “free markets”.

    Free Markets? Free Markets? Did somebody say free markets? Nobody rides for free..it’s a myth.

    Here is my advice. Get on MEET UP and find a group of people who work at the banks. Go MEET UP and “Network”, buy them their favorite drinks and talk about “REO Homes” that “Their” bank has and how you might be able to get them on the cheap. Also, find out their favorite vacation destination.

    Or you can find a good BPO outfit that likes to value the property you want to buy VERY LOW…kinda like how the appraiser valued it VERY HIGH during the boom.

    This is the real world Honest Abe and it will NEVER change as long as there are humans and Maslows Hierarchy of needs….

    Sorry to burst your Utopian bubble…

    February 11, 2009 at 2:24 PM #344963
    macromaniac
    Participant

    Honest Abe,

    I like that name although it doesn’t fit well with reality in the “free markets”.

    Free Markets? Free Markets? Did somebody say free markets? Nobody rides for free..it’s a myth.

    Here is my advice. Get on MEET UP and find a group of people who work at the banks. Go MEET UP and “Network”, buy them their favorite drinks and talk about “REO Homes” that “Their” bank has and how you might be able to get them on the cheap. Also, find out their favorite vacation destination.

    Or you can find a good BPO outfit that likes to value the property you want to buy VERY LOW…kinda like how the appraiser valued it VERY HIGH during the boom.

    This is the real world Honest Abe and it will NEVER change as long as there are humans and Maslows Hierarchy of needs….

    Sorry to burst your Utopian bubble…

    February 11, 2009 at 2:24 PM #344641
    macromaniac
    Participant

    Honest Abe,

    I like that name although it doesn’t fit well with reality in the “free markets”.

    Free Markets? Free Markets? Did somebody say free markets? Nobody rides for free..it’s a myth.

    Here is my advice. Get on MEET UP and find a group of people who work at the banks. Go MEET UP and “Network”, buy them their favorite drinks and talk about “REO Homes” that “Their” bank has and how you might be able to get them on the cheap. Also, find out their favorite vacation destination.

    Or you can find a good BPO outfit that likes to value the property you want to buy VERY LOW…kinda like how the appraiser valued it VERY HIGH during the boom.

    This is the real world Honest Abe and it will NEVER change as long as there are humans and Maslows Hierarchy of needs….

    Sorry to burst your Utopian bubble…

    February 11, 2009 at 2:24 PM #345200
    macromaniac
    Participant

    Honest Abe,

    I like that name although it doesn’t fit well with reality in the “free markets”.

    Free Markets? Free Markets? Did somebody say free markets? Nobody rides for free..it’s a myth.

    Here is my advice. Get on MEET UP and find a group of people who work at the banks. Go MEET UP and “Network”, buy them their favorite drinks and talk about “REO Homes” that “Their” bank has and how you might be able to get them on the cheap. Also, find out their favorite vacation destination.

    Or you can find a good BPO outfit that likes to value the property you want to buy VERY LOW…kinda like how the appraiser valued it VERY HIGH during the boom.

    This is the real world Honest Abe and it will NEVER change as long as there are humans and Maslows Hierarchy of needs….

    Sorry to burst your Utopian bubble…

    February 11, 2009 at 11:14 PM #345316
    SD Realtor
    Participant

    svelte and ddm it was good to see your measured responses.

    Honestabe why don’t you call the broker for the listing agent and ask them what happened, why the home went so quick and see what sort of information that you get. If there was an inside job then why would the bank even list the home with a brokerage? Are you implying that someone at the bank told the brokerage, “psst, hey take Joe Sheisters offer to purchase”.

    Now the listing says that the list date was 2/5/09 and that the listing went off market on 2/10/09 so that is 5 days. Given the bizarre activity it is absolutely reasonable that many offers were received after the first day or two. I keep harping on how bizarre a time it is right now…. I will say it again, it is a frustrating time if you are a buyer.

    Also please note… in some cases a brokerage will receive the listing from a lender BUT will not receive a price yet. In those cases the broker may indeed put a sign out so that potential buyers will contact the broker and in some cases even send in offers. Once the broker receives the pricing from the bank they can then put the home on the MLS.

    Now could there have been a situation where some buyers came in without an agent so the listing agent will get both sides? Yes… However if there was an offer from a buyer with a different agent that did not get accepted and it was substantially higher then the offer that got accepted that listing agent could be in serious hot water. Especially if that other buyers agent tracked the deal and then reported it to the DRE.

    Anyways… this tranny doesn’t seem like anything underhanded.. Not to say underhanded stuff does not occur…

    February 11, 2009 at 11:14 PM #345448
    SD Realtor
    Participant

    svelte and ddm it was good to see your measured responses.

    Honestabe why don’t you call the broker for the listing agent and ask them what happened, why the home went so quick and see what sort of information that you get. If there was an inside job then why would the bank even list the home with a brokerage? Are you implying that someone at the bank told the brokerage, “psst, hey take Joe Sheisters offer to purchase”.

    Now the listing says that the list date was 2/5/09 and that the listing went off market on 2/10/09 so that is 5 days. Given the bizarre activity it is absolutely reasonable that many offers were received after the first day or two. I keep harping on how bizarre a time it is right now…. I will say it again, it is a frustrating time if you are a buyer.

    Also please note… in some cases a brokerage will receive the listing from a lender BUT will not receive a price yet. In those cases the broker may indeed put a sign out so that potential buyers will contact the broker and in some cases even send in offers. Once the broker receives the pricing from the bank they can then put the home on the MLS.

    Now could there have been a situation where some buyers came in without an agent so the listing agent will get both sides? Yes… However if there was an offer from a buyer with a different agent that did not get accepted and it was substantially higher then the offer that got accepted that listing agent could be in serious hot water. Especially if that other buyers agent tracked the deal and then reported it to the DRE.

    Anyways… this tranny doesn’t seem like anything underhanded.. Not to say underhanded stuff does not occur…

    February 11, 2009 at 11:14 PM #345349
    SD Realtor
    Participant

    svelte and ddm it was good to see your measured responses.

    Honestabe why don’t you call the broker for the listing agent and ask them what happened, why the home went so quick and see what sort of information that you get. If there was an inside job then why would the bank even list the home with a brokerage? Are you implying that someone at the bank told the brokerage, “psst, hey take Joe Sheisters offer to purchase”.

    Now the listing says that the list date was 2/5/09 and that the listing went off market on 2/10/09 so that is 5 days. Given the bizarre activity it is absolutely reasonable that many offers were received after the first day or two. I keep harping on how bizarre a time it is right now…. I will say it again, it is a frustrating time if you are a buyer.

    Also please note… in some cases a brokerage will receive the listing from a lender BUT will not receive a price yet. In those cases the broker may indeed put a sign out so that potential buyers will contact the broker and in some cases even send in offers. Once the broker receives the pricing from the bank they can then put the home on the MLS.

    Now could there have been a situation where some buyers came in without an agent so the listing agent will get both sides? Yes… However if there was an offer from a buyer with a different agent that did not get accepted and it was substantially higher then the offer that got accepted that listing agent could be in serious hot water. Especially if that other buyers agent tracked the deal and then reported it to the DRE.

    Anyways… this tranny doesn’t seem like anything underhanded.. Not to say underhanded stuff does not occur…

    February 11, 2009 at 11:14 PM #345209
    SD Realtor
    Participant

    svelte and ddm it was good to see your measured responses.

    Honestabe why don’t you call the broker for the listing agent and ask them what happened, why the home went so quick and see what sort of information that you get. If there was an inside job then why would the bank even list the home with a brokerage? Are you implying that someone at the bank told the brokerage, “psst, hey take Joe Sheisters offer to purchase”.

    Now the listing says that the list date was 2/5/09 and that the listing went off market on 2/10/09 so that is 5 days. Given the bizarre activity it is absolutely reasonable that many offers were received after the first day or two. I keep harping on how bizarre a time it is right now…. I will say it again, it is a frustrating time if you are a buyer.

    Also please note… in some cases a brokerage will receive the listing from a lender BUT will not receive a price yet. In those cases the broker may indeed put a sign out so that potential buyers will contact the broker and in some cases even send in offers. Once the broker receives the pricing from the bank they can then put the home on the MLS.

    Now could there have been a situation where some buyers came in without an agent so the listing agent will get both sides? Yes… However if there was an offer from a buyer with a different agent that did not get accepted and it was substantially higher then the offer that got accepted that listing agent could be in serious hot water. Especially if that other buyers agent tracked the deal and then reported it to the DRE.

    Anyways… this tranny doesn’t seem like anything underhanded.. Not to say underhanded stuff does not occur…

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