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Viewing 11 posts - 46 through 56 (of 56 total)
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  • March 11, 2008 at 3:32 PM #168123
    XBoxBoy
    Participant

    Raptor, Can’t tell you how many people have said to me in the last several months that things sure have dropped, but that they are okay because of some nonsensical reason. It’s really an incredible phenomenon of humans to rationalize away their losses.

    XBoxBoy

    March 11, 2008 at 11:22 PM #167894
    SD Realtor
    Participant

    Raptor you always make very good posts. What you wrote made alot of sense. The best statement was:

    patience is the best form of leverage….

    I could not agree more.

    Come with a strategy but apply some common thoughts. If a home has not been on the market for awhile, getting a lowball offer accepted is very unlikely. Just like the market will dictate what the home sells for, prepare to be frustrated. Make sure you have your financing mapped out. If you are going to be going for a short sale, understand that the period of limbo (from you submitting the offer, to it getting accepted) will be many weeks and more then likely a few months. Know that during this period you will NOT be able to lock your rate… or you can lock your rate but you will be more then lucky if your deal gets done before your lock expires.

    Make sure you know what your closing costs will be. Make sure you know how your rebate will work. I am assuming you have a rebate you will get back from your Realtor. Will it be a credit in escrow? Will it be sent as a check after escrow closes? Will you be 1099’d?

    Know that if the home you love has been priced very aggressively that it may very well get offers, ALOT of offers. Know that we are still in a period of denial. Know that a few weeks on the market is not a long time. When you run into 3-4 months, then your seller is getting ripe.

    The best strategy is patience. Be willing to walk, be willing to wait.

    SD Realtor

    March 11, 2008 at 11:22 PM #168221
    SD Realtor
    Participant

    Raptor you always make very good posts. What you wrote made alot of sense. The best statement was:

    patience is the best form of leverage….

    I could not agree more.

    Come with a strategy but apply some common thoughts. If a home has not been on the market for awhile, getting a lowball offer accepted is very unlikely. Just like the market will dictate what the home sells for, prepare to be frustrated. Make sure you have your financing mapped out. If you are going to be going for a short sale, understand that the period of limbo (from you submitting the offer, to it getting accepted) will be many weeks and more then likely a few months. Know that during this period you will NOT be able to lock your rate… or you can lock your rate but you will be more then lucky if your deal gets done before your lock expires.

    Make sure you know what your closing costs will be. Make sure you know how your rebate will work. I am assuming you have a rebate you will get back from your Realtor. Will it be a credit in escrow? Will it be sent as a check after escrow closes? Will you be 1099’d?

    Know that if the home you love has been priced very aggressively that it may very well get offers, ALOT of offers. Know that we are still in a period of denial. Know that a few weeks on the market is not a long time. When you run into 3-4 months, then your seller is getting ripe.

    The best strategy is patience. Be willing to walk, be willing to wait.

    SD Realtor

    March 11, 2008 at 11:22 PM #168226
    SD Realtor
    Participant

    Raptor you always make very good posts. What you wrote made alot of sense. The best statement was:

    patience is the best form of leverage….

    I could not agree more.

    Come with a strategy but apply some common thoughts. If a home has not been on the market for awhile, getting a lowball offer accepted is very unlikely. Just like the market will dictate what the home sells for, prepare to be frustrated. Make sure you have your financing mapped out. If you are going to be going for a short sale, understand that the period of limbo (from you submitting the offer, to it getting accepted) will be many weeks and more then likely a few months. Know that during this period you will NOT be able to lock your rate… or you can lock your rate but you will be more then lucky if your deal gets done before your lock expires.

    Make sure you know what your closing costs will be. Make sure you know how your rebate will work. I am assuming you have a rebate you will get back from your Realtor. Will it be a credit in escrow? Will it be sent as a check after escrow closes? Will you be 1099’d?

    Know that if the home you love has been priced very aggressively that it may very well get offers, ALOT of offers. Know that we are still in a period of denial. Know that a few weeks on the market is not a long time. When you run into 3-4 months, then your seller is getting ripe.

    The best strategy is patience. Be willing to walk, be willing to wait.

    SD Realtor

    March 11, 2008 at 11:22 PM #168254
    SD Realtor
    Participant

    Raptor you always make very good posts. What you wrote made alot of sense. The best statement was:

    patience is the best form of leverage….

    I could not agree more.

    Come with a strategy but apply some common thoughts. If a home has not been on the market for awhile, getting a lowball offer accepted is very unlikely. Just like the market will dictate what the home sells for, prepare to be frustrated. Make sure you have your financing mapped out. If you are going to be going for a short sale, understand that the period of limbo (from you submitting the offer, to it getting accepted) will be many weeks and more then likely a few months. Know that during this period you will NOT be able to lock your rate… or you can lock your rate but you will be more then lucky if your deal gets done before your lock expires.

    Make sure you know what your closing costs will be. Make sure you know how your rebate will work. I am assuming you have a rebate you will get back from your Realtor. Will it be a credit in escrow? Will it be sent as a check after escrow closes? Will you be 1099’d?

    Know that if the home you love has been priced very aggressively that it may very well get offers, ALOT of offers. Know that we are still in a period of denial. Know that a few weeks on the market is not a long time. When you run into 3-4 months, then your seller is getting ripe.

    The best strategy is patience. Be willing to walk, be willing to wait.

    SD Realtor

    March 11, 2008 at 11:22 PM #168323
    SD Realtor
    Participant

    Raptor you always make very good posts. What you wrote made alot of sense. The best statement was:

    patience is the best form of leverage….

    I could not agree more.

    Come with a strategy but apply some common thoughts. If a home has not been on the market for awhile, getting a lowball offer accepted is very unlikely. Just like the market will dictate what the home sells for, prepare to be frustrated. Make sure you have your financing mapped out. If you are going to be going for a short sale, understand that the period of limbo (from you submitting the offer, to it getting accepted) will be many weeks and more then likely a few months. Know that during this period you will NOT be able to lock your rate… or you can lock your rate but you will be more then lucky if your deal gets done before your lock expires.

    Make sure you know what your closing costs will be. Make sure you know how your rebate will work. I am assuming you have a rebate you will get back from your Realtor. Will it be a credit in escrow? Will it be sent as a check after escrow closes? Will you be 1099’d?

    Know that if the home you love has been priced very aggressively that it may very well get offers, ALOT of offers. Know that we are still in a period of denial. Know that a few weeks on the market is not a long time. When you run into 3-4 months, then your seller is getting ripe.

    The best strategy is patience. Be willing to walk, be willing to wait.

    SD Realtor

    March 12, 2008 at 12:58 AM #167914
    an
    Participant

    Very well said SD Realtor. Now that I’ve bitten into those short sales and well priced REOs, I know exactly how it feels. I think as long as we stand our ground and not get caught up in a bidding war, we’ll learn that lesson. Learning that lesson first hand is the only way.

    March 12, 2008 at 12:58 AM #168242
    an
    Participant

    Very well said SD Realtor. Now that I’ve bitten into those short sales and well priced REOs, I know exactly how it feels. I think as long as we stand our ground and not get caught up in a bidding war, we’ll learn that lesson. Learning that lesson first hand is the only way.

    March 12, 2008 at 12:58 AM #168246
    an
    Participant

    Very well said SD Realtor. Now that I’ve bitten into those short sales and well priced REOs, I know exactly how it feels. I think as long as we stand our ground and not get caught up in a bidding war, we’ll learn that lesson. Learning that lesson first hand is the only way.

    March 12, 2008 at 12:58 AM #168274
    an
    Participant

    Very well said SD Realtor. Now that I’ve bitten into those short sales and well priced REOs, I know exactly how it feels. I think as long as we stand our ground and not get caught up in a bidding war, we’ll learn that lesson. Learning that lesson first hand is the only way.

    March 12, 2008 at 12:58 AM #168343
    an
    Participant

    Very well said SD Realtor. Now that I’ve bitten into those short sales and well priced REOs, I know exactly how it feels. I think as long as we stand our ground and not get caught up in a bidding war, we’ll learn that lesson. Learning that lesson first hand is the only way.

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