Lowball Offers on the Rise

[farbet]

Too many spineless “realtors” here.No offense sdr and SD Realtor. How many signs for Open Houses have you seen on a weekend?
These realtors around here want the commission without the legwork. The realtors here are on auto pilot with their fake smiles.
I was in Washington DC area this past month and the hustle by realtors is very impressive.The lowballers are getting the deals.Here you may be lucky if you get the time of the day from some of these !!!

[peterb]

Start searching for homes that have been listed for over 4 or 5 months. Since many listing agreements are on a 6 month term, people may be more “open” to lower offers and have not yet pulled their home off the market by the 5th month. This one in Pt. Loma looks to have been listed for 7 months before they took this offer. And I would say that their $899K asking price was probably lower than the 2005 peak prices for this house in this area!! So this probably constitutes a 35% to 40% decrease from 2005 peak prices and in one of the more “upscale” areas of SD.
As I was once told in a RE seminar,”The way you get deals is to make offers!!” And I would say that capitulation of the “hold-outs” and those in denial to the price decline is starting to happen.

[peterb]

Start searching for homes that have been listed for over 4 or 5 months. Since many listing agreements are on a 6 month term, people may be more “open” to lower offers and have not yet pulled their home off the market by the 5th month. This one in Pt. Loma looks to have been listed for 7 months before they took this offer. And I would say that their $899K asking price was probably lower than the 2005 peak prices for this house in this area!! So this probably constitutes a 35% to 40% decrease from 2005 peak prices and in one of the more “upscale” areas of SD.
As I was once told in a RE seminar,”The way you get deals is to make offers!!” And I would say that capitulation of the “hold-outs” and those in denial to the price decline is starting to happen.

[peterb]

Start searching for homes that have been listed for over 4 or 5 months. Since many listing agreements are on a 6 month term, people may be more “open” to lower offers and have not yet pulled their home off the market by the 5th month. This one in Pt. Loma looks to have been listed for 7 months before they took this offer. And I would say that their $899K asking price was probably lower than the 2005 peak prices for this house in this area!! So this probably constitutes a 35% to 40% decrease from 2005 peak prices and in one of the more “upscale” areas of SD.
As I was once told in a RE seminar,”The way you get deals is to make offers!!” And I would say that capitulation of the “hold-outs” and those in denial to the price decline is starting to happen.

[peterb]

Start searching for homes that have been listed for over 4 or 5 months. Since many listing agreements are on a 6 month term, people may be more “open” to lower offers and have not yet pulled their home off the market by the 5th month. This one in Pt. Loma looks to have been listed for 7 months before they took this offer. And I would say that their $899K asking price was probably lower than the 2005 peak prices for this house in this area!! So this probably constitutes a 35% to 40% decrease from 2005 peak prices and in one of the more “upscale” areas of SD.
As I was once told in a RE seminar,”The way you get deals is to make offers!!” And I would say that capitulation of the “hold-outs” and those in denial to the price decline is starting to happen.

[peterb]

Start searching for homes that have been listed for over 4 or 5 months. Since many listing agreements are on a 6 month term, people may be more “open” to lower offers and have not yet pulled their home off the market by the 5th month. This one in Pt. Loma looks to have been listed for 7 months before they took this offer. And I would say that their $899K asking price was probably lower than the 2005 peak prices for this house in this area!! So this probably constitutes a 35% to 40% decrease from 2005 peak prices and in one of the more “upscale” areas of SD.
As I was once told in a RE seminar,”The way you get deals is to make offers!!” And I would say that capitulation of the “hold-outs” and those in denial to the price decline is starting to happen.

[SD Realtor]

Farbet, one thing that amazes me is that nobody forces anyone to work with anyone else yet the majority of people still work with substandard realtors. The vast majority of buyers still don’t demand rebates from their agents, nor do they work with the agent because the agent is one of quaility but because the agent is a friend, or even family member.

Hey you get to choose who you work with and if you are tolerant of substandard work because you don’t want to hurt your sister in laws feelings or something like that then whose fault is it really?

Also on the Point Loma house referenced it is a great deal pricewise. Also note that the ENTIRE remodel of the home was not permitted and the fence sits on the neighbors side of the lot line. Furthermore the footprint of the home on the lot was changed and that was done without a permit.

I am not saying it is not a great deal but how many of you here would buy such a home? Sometimes knowing all the facts is helpful.

Please be honest.

[SD Realtor]

Farbet, one thing that amazes me is that nobody forces anyone to work with anyone else yet the majority of people still work with substandard realtors. The vast majority of buyers still don’t demand rebates from their agents, nor do they work with the agent because the agent is one of quaility but because the agent is a friend, or even family member.

Hey you get to choose who you work with and if you are tolerant of substandard work because you don’t want to hurt your sister in laws feelings or something like that then whose fault is it really?

Also on the Point Loma house referenced it is a great deal pricewise. Also note that the ENTIRE remodel of the home was not permitted and the fence sits on the neighbors side of the lot line. Furthermore the footprint of the home on the lot was changed and that was done without a permit.

I am not saying it is not a great deal but how many of you here would buy such a home? Sometimes knowing all the facts is helpful.

Please be honest.

[SD Realtor]

Farbet, one thing that amazes me is that nobody forces anyone to work with anyone else yet the majority of people still work with substandard realtors. The vast majority of buyers still don’t demand rebates from their agents, nor do they work with the agent because the agent is one of quaility but because the agent is a friend, or even family member.

Hey you get to choose who you work with and if you are tolerant of substandard work because you don’t want to hurt your sister in laws feelings or something like that then whose fault is it really?

Also on the Point Loma house referenced it is a great deal pricewise. Also note that the ENTIRE remodel of the home was not permitted and the fence sits on the neighbors side of the lot line. Furthermore the footprint of the home on the lot was changed and that was done without a permit.

I am not saying it is not a great deal but how many of you here would buy such a home? Sometimes knowing all the facts is helpful.

Please be honest.

[SD Realtor]

Farbet, one thing that amazes me is that nobody forces anyone to work with anyone else yet the majority of people still work with substandard realtors. The vast majority of buyers still don’t demand rebates from their agents, nor do they work with the agent because the agent is one of quaility but because the agent is a friend, or even family member.

Hey you get to choose who you work with and if you are tolerant of substandard work because you don’t want to hurt your sister in laws feelings or something like that then whose fault is it really?

Also on the Point Loma house referenced it is a great deal pricewise. Also note that the ENTIRE remodel of the home was not permitted and the fence sits on the neighbors side of the lot line. Furthermore the footprint of the home on the lot was changed and that was done without a permit.

I am not saying it is not a great deal but how many of you here would buy such a home? Sometimes knowing all the facts is helpful.

Please be honest.

[SD Realtor]

Farbet, one thing that amazes me is that nobody forces anyone to work with anyone else yet the majority of people still work with substandard realtors. The vast majority of buyers still don’t demand rebates from their agents, nor do they work with the agent because the agent is one of quaility but because the agent is a friend, or even family member.

Hey you get to choose who you work with and if you are tolerant of substandard work because you don’t want to hurt your sister in laws feelings or something like that then whose fault is it really?

Also on the Point Loma house referenced it is a great deal pricewise. Also note that the ENTIRE remodel of the home was not permitted and the fence sits on the neighbors side of the lot line. Furthermore the footprint of the home on the lot was changed and that was done without a permit.

I am not saying it is not a great deal but how many of you here would buy such a home? Sometimes knowing all the facts is helpful.

Please be honest.

[La Jolla Renter]

sdr and SD Realtor or any other Realtor,

Does low balling damage a realtor’s reputation? (30% to 50% off kind of low balling)

Specifically if working in snooty little markets like La Jolla, RSF, etc.

I read a real estate investing book way back when that promoted a low balling technique in which you find a starving agent and pay them a set hourly rate to submit 100 offers at 50% off the asking price of the homes for sale in a desired area. Each offer was very professionally presented with a letter expressing all cash close in 7 days etc. The whole idea was to fish out the serious sellers.

[La Jolla Renter]

sdr and SD Realtor or any other Realtor,

Does low balling damage a realtor’s reputation? (30% to 50% off kind of low balling)

Specifically if working in snooty little markets like La Jolla, RSF, etc.

I read a real estate investing book way back when that promoted a low balling technique in which you find a starving agent and pay them a set hourly rate to submit 100 offers at 50% off the asking price of the homes for sale in a desired area. Each offer was very professionally presented with a letter expressing all cash close in 7 days etc. The whole idea was to fish out the serious sellers.

[La Jolla Renter]

sdr and SD Realtor or any other Realtor,

Does low balling damage a realtor’s reputation? (30% to 50% off kind of low balling)

Specifically if working in snooty little markets like La Jolla, RSF, etc.

I read a real estate investing book way back when that promoted a low balling technique in which you find a starving agent and pay them a set hourly rate to submit 100 offers at 50% off the asking price of the homes for sale in a desired area. Each offer was very professionally presented with a letter expressing all cash close in 7 days etc. The whole idea was to fish out the serious sellers.

[La Jolla Renter]

sdr and SD Realtor or any other Realtor,

Does low balling damage a realtor’s reputation? (30% to 50% off kind of low balling)

Specifically if working in snooty little markets like La Jolla, RSF, etc.

I read a real estate investing book way back when that promoted a low balling technique in which you find a starving agent and pay them a set hourly rate to submit 100 offers at 50% off the asking price of the homes for sale in a desired area. Each offer was very professionally presented with a letter expressing all cash close in 7 days etc. The whole idea was to fish out the serious sellers.

[Author]

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