Pocket listings?

[DataAgent]

Become a realtor. You’ll hear about lots of sweet deals.

[PadreBrian]

[quote=treehugger]I saw a for sale sign in front of a condo area I have been very interested in, it is adjacent to a preserve that I mountain bike and hike in frequently. Went home couldn’t find property listed on the MLS. I broke my arm mountain biking a few weeks ago and never got back to the property to look up the number on the sign…..it hit the MLS (mls #090026487) a few days ago and I immediately call on it. 22 offers 10 cash, all significantly over the asking price. The listing agent said she had held 2 open houses and had the sign out there for a few weeks, nothing. If I had got to her last week I could have had it at the asking price. As soon as it hit the MLS it exploded. My question is (once I stop kicking myself for not calling the first day I saw the sign) is there any way to find out about these kind of deals before they hit the mls? Or is it just sheer luck?[/quote]
Nice find, and a good deal. The only draw back are the power lines. But otherwise, great location.

[PadreBrian]

[quote=treehugger]I saw a for sale sign in front of a condo area I have been very interested in, it is adjacent to a preserve that I mountain bike and hike in frequently. Went home couldn’t find property listed on the MLS. I broke my arm mountain biking a few weeks ago and never got back to the property to look up the number on the sign…..it hit the MLS (mls #090026487) a few days ago and I immediately call on it. 22 offers 10 cash, all significantly over the asking price. The listing agent said she had held 2 open houses and had the sign out there for a few weeks, nothing. If I had got to her last week I could have had it at the asking price. As soon as it hit the MLS it exploded. My question is (once I stop kicking myself for not calling the first day I saw the sign) is there any way to find out about these kind of deals before they hit the mls? Or is it just sheer luck?[/quote]
Nice find, and a good deal. The only draw back are the power lines. But otherwise, great location.

[PadreBrian]

[quote=treehugger]I saw a for sale sign in front of a condo area I have been very interested in, it is adjacent to a preserve that I mountain bike and hike in frequently. Went home couldn’t find property listed on the MLS. I broke my arm mountain biking a few weeks ago and never got back to the property to look up the number on the sign…..it hit the MLS (mls #090026487) a few days ago and I immediately call on it. 22 offers 10 cash, all significantly over the asking price. The listing agent said she had held 2 open houses and had the sign out there for a few weeks, nothing. If I had got to her last week I could have had it at the asking price. As soon as it hit the MLS it exploded. My question is (once I stop kicking myself for not calling the first day I saw the sign) is there any way to find out about these kind of deals before they hit the mls? Or is it just sheer luck?[/quote]
Nice find, and a good deal. The only draw back are the power lines. But otherwise, great location.

[PadreBrian]

[quote=treehugger]I saw a for sale sign in front of a condo area I have been very interested in, it is adjacent to a preserve that I mountain bike and hike in frequently. Went home couldn’t find property listed on the MLS. I broke my arm mountain biking a few weeks ago and never got back to the property to look up the number on the sign…..it hit the MLS (mls #090026487) a few days ago and I immediately call on it. 22 offers 10 cash, all significantly over the asking price. The listing agent said she had held 2 open houses and had the sign out there for a few weeks, nothing. If I had got to her last week I could have had it at the asking price. As soon as it hit the MLS it exploded. My question is (once I stop kicking myself for not calling the first day I saw the sign) is there any way to find out about these kind of deals before they hit the mls? Or is it just sheer luck?[/quote]
Nice find, and a good deal. The only draw back are the power lines. But otherwise, great location.

[PadreBrian]

[quote=treehugger]I saw a for sale sign in front of a condo area I have been very interested in, it is adjacent to a preserve that I mountain bike and hike in frequently. Went home couldn’t find property listed on the MLS. I broke my arm mountain biking a few weeks ago and never got back to the property to look up the number on the sign…..it hit the MLS (mls #090026487) a few days ago and I immediately call on it. 22 offers 10 cash, all significantly over the asking price. The listing agent said she had held 2 open houses and had the sign out there for a few weeks, nothing. If I had got to her last week I could have had it at the asking price. As soon as it hit the MLS it exploded. My question is (once I stop kicking myself for not calling the first day I saw the sign) is there any way to find out about these kind of deals before they hit the mls? Or is it just sheer luck?[/quote]
Nice find, and a good deal. The only draw back are the power lines. But otherwise, great location.

[PadreBrian]

treehugger, your post brings up a great point. Maybe we are too negative. If you asked about it when you first saw the sign, half of us would say “wait till it hits 28k!!!” the other half would have pointed to it’s cost to own vs rent, and said go for it.

Now that deals are finally coming out, I should re-post a couple of helpful spreadsheets.

[PadreBrian]

treehugger, your post brings up a great point. Maybe we are too negative. If you asked about it when you first saw the sign, half of us would say “wait till it hits 28k!!!” the other half would have pointed to it’s cost to own vs rent, and said go for it.

Now that deals are finally coming out, I should re-post a couple of helpful spreadsheets.

[PadreBrian]

treehugger, your post brings up a great point. Maybe we are too negative. If you asked about it when you first saw the sign, half of us would say “wait till it hits 28k!!!” the other half would have pointed to it’s cost to own vs rent, and said go for it.

Now that deals are finally coming out, I should re-post a couple of helpful spreadsheets.

[PadreBrian]

treehugger, your post brings up a great point. Maybe we are too negative. If you asked about it when you first saw the sign, half of us would say “wait till it hits 28k!!!” the other half would have pointed to it’s cost to own vs rent, and said go for it.

Now that deals are finally coming out, I should re-post a couple of helpful spreadsheets.

[PadreBrian]

treehugger, your post brings up a great point. Maybe we are too negative. If you asked about it when you first saw the sign, half of us would say “wait till it hits 28k!!!” the other half would have pointed to it’s cost to own vs rent, and said go for it.

Now that deals are finally coming out, I should re-post a couple of helpful spreadsheets.

[SD Realtor]

treehugger doesnt this just sound kind of odd to you?

Lets think… you saw the sign and chances are that many others did as well. Similarly she had held two open houses with not a nibble? Really? Now she puts it on the MLS and now they get 22 just a few days. Magically that if you would have submitted a full price offer prior to it going on the MLS that yours would have been accepted… hmmmm… well perhaps…

My read, and I have said this many times before. When an asset manager assigns an reo to a broker there are several steps the broker must take prior to listing the property on the MLS. While they are taking those steps to prep the property they can put a sign up and even market the home. They can receive and submit offers even. However they cannot put it on the MLS until they get a price from the REO owner. Many lenders will instruct the agent to collect offers for a day or two or even a week. Yes when you saw the sign you should have done something but I am not as positive that the agent would have locked you into the deal for a few reasons. One that she would have even had a price yet and two that the lender would have accepted your offer given that she had not marketted it on the MLS yet.

In this market with this activity then clearly she is a boob if she actually could have marketted it on the MLS but chose not to for two weeks.

[SD Realtor]

treehugger doesnt this just sound kind of odd to you?

Lets think… you saw the sign and chances are that many others did as well. Similarly she had held two open houses with not a nibble? Really? Now she puts it on the MLS and now they get 22 just a few days. Magically that if you would have submitted a full price offer prior to it going on the MLS that yours would have been accepted… hmmmm… well perhaps…

My read, and I have said this many times before. When an asset manager assigns an reo to a broker there are several steps the broker must take prior to listing the property on the MLS. While they are taking those steps to prep the property they can put a sign up and even market the home. They can receive and submit offers even. However they cannot put it on the MLS until they get a price from the REO owner. Many lenders will instruct the agent to collect offers for a day or two or even a week. Yes when you saw the sign you should have done something but I am not as positive that the agent would have locked you into the deal for a few reasons. One that she would have even had a price yet and two that the lender would have accepted your offer given that she had not marketted it on the MLS yet.

In this market with this activity then clearly she is a boob if she actually could have marketted it on the MLS but chose not to for two weeks.

[SD Realtor]

treehugger doesnt this just sound kind of odd to you?

Lets think… you saw the sign and chances are that many others did as well. Similarly she had held two open houses with not a nibble? Really? Now she puts it on the MLS and now they get 22 just a few days. Magically that if you would have submitted a full price offer prior to it going on the MLS that yours would have been accepted… hmmmm… well perhaps…

My read, and I have said this many times before. When an asset manager assigns an reo to a broker there are several steps the broker must take prior to listing the property on the MLS. While they are taking those steps to prep the property they can put a sign up and even market the home. They can receive and submit offers even. However they cannot put it on the MLS until they get a price from the REO owner. Many lenders will instruct the agent to collect offers for a day or two or even a week. Yes when you saw the sign you should have done something but I am not as positive that the agent would have locked you into the deal for a few reasons. One that she would have even had a price yet and two that the lender would have accepted your offer given that she had not marketted it on the MLS yet.

In this market with this activity then clearly she is a boob if she actually could have marketted it on the MLS but chose not to for two weeks.

[SD Realtor]

treehugger doesnt this just sound kind of odd to you?

Lets think… you saw the sign and chances are that many others did as well. Similarly she had held two open houses with not a nibble? Really? Now she puts it on the MLS and now they get 22 just a few days. Magically that if you would have submitted a full price offer prior to it going on the MLS that yours would have been accepted… hmmmm… well perhaps…

My read, and I have said this many times before. When an asset manager assigns an reo to a broker there are several steps the broker must take prior to listing the property on the MLS. While they are taking those steps to prep the property they can put a sign up and even market the home. They can receive and submit offers even. However they cannot put it on the MLS until they get a price from the REO owner. Many lenders will instruct the agent to collect offers for a day or two or even a week. Yes when you saw the sign you should have done something but I am not as positive that the agent would have locked you into the deal for a few reasons. One that she would have even had a price yet and two that the lender would have accepted your offer given that she had not marketted it on the MLS yet.

In this market with this activity then clearly she is a boob if she actually could have marketted it on the MLS but chose not to for two weeks.

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