- This topic has 24 replies, 5 voices, and was last updated 16 years, 10 months ago by
SD Realtor.
-
AuthorPosts
-
October 25, 2007 at 4:20 PM #91883October 25, 2007 at 4:36 PM #91901
jimklinge
ParticipantI’d guess that the market stall will continue, because this is what’s going through every seller’s head right now:
“Lower the price? – heck, with the fires and all, I think I’ll wait – maybe just wait until Spring when it picks up again?”
Meanwhile, the buyer’s expectations are going down about $1,000 per day. 90 days = $90,000. How smart is waiting?
Jim the Realtor
October 25, 2007 at 4:36 PM #91889jimklinge
ParticipantI’d guess that the market stall will continue, because this is what’s going through every seller’s head right now:
“Lower the price? – heck, with the fires and all, I think I’ll wait – maybe just wait until Spring when it picks up again?”
Meanwhile, the buyer’s expectations are going down about $1,000 per day. 90 days = $90,000. How smart is waiting?
Jim the Realtor
October 25, 2007 at 4:36 PM #91863jimklinge
ParticipantI’d guess that the market stall will continue, because this is what’s going through every seller’s head right now:
“Lower the price? – heck, with the fires and all, I think I’ll wait – maybe just wait until Spring when it picks up again?”
Meanwhile, the buyer’s expectations are going down about $1,000 per day. 90 days = $90,000. How smart is waiting?
Jim the Realtor
October 25, 2007 at 4:53 PM #91906patientlywaiting
ParticipantI hear you SD Realtor. I don’t think that lenders can do much to prevent listings that don’t have their approval. Afterall, the borrowers still own the houses until foreclosure day.
Could be that would-be-sellers are listing low short sale prices as a way to pressure the lenders into dealing. That’s an interesting concept as those short sellers may create comp killers that drive down the prices in the neighborhood. But what do they care since they are under water already? A legitimate seller in a neighborhood with several attempted short sales will be caught in difficult position.
October 25, 2007 at 4:53 PM #91869patientlywaiting
ParticipantI hear you SD Realtor. I don’t think that lenders can do much to prevent listings that don’t have their approval. Afterall, the borrowers still own the houses until foreclosure day.
Could be that would-be-sellers are listing low short sale prices as a way to pressure the lenders into dealing. That’s an interesting concept as those short sellers may create comp killers that drive down the prices in the neighborhood. But what do they care since they are under water already? A legitimate seller in a neighborhood with several attempted short sales will be caught in difficult position.
October 25, 2007 at 4:53 PM #91895patientlywaiting
ParticipantI hear you SD Realtor. I don’t think that lenders can do much to prevent listings that don’t have their approval. Afterall, the borrowers still own the houses until foreclosure day.
Could be that would-be-sellers are listing low short sale prices as a way to pressure the lenders into dealing. That’s an interesting concept as those short sellers may create comp killers that drive down the prices in the neighborhood. But what do they care since they are under water already? A legitimate seller in a neighborhood with several attempted short sales will be caught in difficult position.
October 25, 2007 at 5:43 PM #91893SD Realtor
ParticipantI hear you Jim…
PW my personal guess is that because most (not all but most) lenders will not even LOOK at a short sale package until an offer is made, perhaps the sellers are listing in that manner just to get the ball rolling. That way they get an offer, and can at least send in all the docs so that the lender will at least review the darn package… It seems crazy to me that lenders are reticent to look at the package until an offer is made.
Who knows? Hey let them be comp killers right? We need more of them…
SD Realtor
October 25, 2007 at 5:43 PM #91920SD Realtor
ParticipantI hear you Jim…
PW my personal guess is that because most (not all but most) lenders will not even LOOK at a short sale package until an offer is made, perhaps the sellers are listing in that manner just to get the ball rolling. That way they get an offer, and can at least send in all the docs so that the lender will at least review the darn package… It seems crazy to me that lenders are reticent to look at the package until an offer is made.
Who knows? Hey let them be comp killers right? We need more of them…
SD Realtor
October 25, 2007 at 5:43 PM #91931SD Realtor
ParticipantI hear you Jim…
PW my personal guess is that because most (not all but most) lenders will not even LOOK at a short sale package until an offer is made, perhaps the sellers are listing in that manner just to get the ball rolling. That way they get an offer, and can at least send in all the docs so that the lender will at least review the darn package… It seems crazy to me that lenders are reticent to look at the package until an offer is made.
Who knows? Hey let them be comp killers right? We need more of them…
SD Realtor
-
AuthorPosts
- You must be logged in to reply to this topic.