Somewhat Frustrating Short Sales – Piggington's Econo-Almanac

This topic has 30 replies, 4 voices, and was last updated 15 years, 2 months ago by Pasadena Broker.

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- January 14, 2008 at 4:41 PM #11505
  
  SD Realtor
  Participant
  
  I am encountering quite an interesting phenomenah. I have made inquires on several short sales in a few areas of late including Carmel Valley, Sorrento Valley, and Scripps for a few different people. I have found that every one of them, while listed as active all do indeed have offers in to the lenders.
  
  In most all of these cases the offers are in the price range or close to it.
  
  Just an observation (albeit a very frustrating one).
- January 14, 2008 at 4:45 PM #135695
  
  nostradamus
  Participant
  
  Maybe the “those areas will never go down” gang is putting their money where their mouth is (in between swigs of kool-aid).
- January 14, 2008 at 4:45 PM #135892
  
  nostradamus
  Participant
  
  Maybe the “those areas will never go down” gang is putting their money where their mouth is (in between swigs of kool-aid).
- January 14, 2008 at 4:45 PM #135896
  
  nostradamus
  Participant
  
  Maybe the “those areas will never go down” gang is putting their money where their mouth is (in between swigs of kool-aid).
- January 14, 2008 at 4:45 PM #135953
  
  nostradamus
  Participant
  
  Maybe the “those areas will never go down” gang is putting their money where their mouth is (in between swigs of kool-aid).
- January 14, 2008 at 4:45 PM #135996
  
  nostradamus
  Participant
  
  Maybe the “those areas will never go down” gang is putting their money where their mouth is (in between swigs of kool-aid).
- January 14, 2008 at 5:08 PM #135710
  
  Pasadena Broker
  Participant
  
  You think that’s frustrating SD?
  
  I have two clients that have offers on short sales. One of them made the offer back in October and the other in November. We’re still waiting for confirmation of the acceptance of the counter by the buyer (asking price) from the lender (this is the one in October). Pain in the ass. I touch base with the client from time to time and it’s gotten a little surreal and Kafkaesque with the one from October. Almost feels like waiting in a Soviet bread line or DMV circa 1980’s.
  - January 14, 2008 at 9:50 PM #135954
    
    SD Realtor
    Participant
    
    Pasadena I am right there with you man. The listing I mentioned was one I have. The lender took so long to process the offer that by the time they accepted it the buyers were long gone. My sellers were bummed bigtime.
    
    I have another client who like yours submitted back in October and supposedly we are supposed to get a response back this week. He has already mentally punted and we submitted another offer last week on yet another short sale in the same complex for 30k less.
    
    The point to this post was that many homes that are listed as actives right now, though they are short sales, they do indeed have offers that are being processed. It is especially frustrating for some bargain hunters that I am working with… everyone is patient though so that is good…
    
    SD Realtor
    - January 14, 2008 at 9:58 PM #135969
      
      NotCranky
      Participant
      
      What country are these bargain hunters looking in Adam? Has anyone gotten a bargain yet? Where?
    - January 14, 2008 at 10:25 PM #135984
      
      SD Realtor
      Participant
      
      Heheheheh… rus rus rus… Okay let me rephrase… bargain with respect to current prices. Some people do not want to wait until the bottom and are in situations where they will purchase sometime this year. Thus they are simply trying to get the best deal possible given that constraint. Locations include Scripps, Sorrento Valley, Sabre Springs, and La Costa Valley.
      
      SD Realtor
    - January 14, 2008 at 10:25 PM #136185
      
      SD Realtor
      Participant
      
      Heheheheh… rus rus rus… Okay let me rephrase… bargain with respect to current prices. Some people do not want to wait until the bottom and are in situations where they will purchase sometime this year. Thus they are simply trying to get the best deal possible given that constraint. Locations include Scripps, Sorrento Valley, Sabre Springs, and La Costa Valley.
      
      SD Realtor
    - January 14, 2008 at 10:25 PM #136219
      
      SD Realtor
      Participant
      
      Heheheheh… rus rus rus… Okay let me rephrase… bargain with respect to current prices. Some people do not want to wait until the bottom and are in situations where they will purchase sometime this year. Thus they are simply trying to get the best deal possible given that constraint. Locations include Scripps, Sorrento Valley, Sabre Springs, and La Costa Valley.
      
      SD Realtor
    - January 14, 2008 at 10:25 PM #136245
      
      SD Realtor
      Participant
      
      Heheheheh… rus rus rus… Okay let me rephrase… bargain with respect to current prices. Some people do not want to wait until the bottom and are in situations where they will purchase sometime this year. Thus they are simply trying to get the best deal possible given that constraint. Locations include Scripps, Sorrento Valley, Sabre Springs, and La Costa Valley.
      
      SD Realtor
    - January 14, 2008 at 10:25 PM #136286
      
      SD Realtor
      Participant
      
      Heheheheh… rus rus rus… Okay let me rephrase… bargain with respect to current prices. Some people do not want to wait until the bottom and are in situations where they will purchase sometime this year. Thus they are simply trying to get the best deal possible given that constraint. Locations include Scripps, Sorrento Valley, Sabre Springs, and La Costa Valley.
      
      SD Realtor
    - January 14, 2008 at 9:58 PM #136169
      
      NotCranky
      Participant
      
      What country are these bargain hunters looking in Adam? Has anyone gotten a bargain yet? Where?
    - January 14, 2008 at 9:58 PM #136202
      
      NotCranky
      Participant
      
      What country are these bargain hunters looking in Adam? Has anyone gotten a bargain yet? Where?
    - January 14, 2008 at 9:58 PM #136227
      
      NotCranky
      Participant
      
      What country are these bargain hunters looking in Adam? Has anyone gotten a bargain yet? Where?
    - January 14, 2008 at 9:58 PM #136271
      
      NotCranky
      Participant
      
      What country are these bargain hunters looking in Adam? Has anyone gotten a bargain yet? Where?
  - January 14, 2008 at 9:50 PM #136153
    
    SD Realtor
    Participant
    
    Pasadena I am right there with you man. The listing I mentioned was one I have. The lender took so long to process the offer that by the time they accepted it the buyers were long gone. My sellers were bummed bigtime.
    
    I have another client who like yours submitted back in October and supposedly we are supposed to get a response back this week. He has already mentally punted and we submitted another offer last week on yet another short sale in the same complex for 30k less.
    
    The point to this post was that many homes that are listed as actives right now, though they are short sales, they do indeed have offers that are being processed. It is especially frustrating for some bargain hunters that I am working with… everyone is patient though so that is good…
    
    SD Realtor
  - January 14, 2008 at 9:50 PM #136188
    
    SD Realtor
    Participant
    
    Pasadena I am right there with you man. The listing I mentioned was one I have. The lender took so long to process the offer that by the time they accepted it the buyers were long gone. My sellers were bummed bigtime.
    
    I have another client who like yours submitted back in October and supposedly we are supposed to get a response back this week. He has already mentally punted and we submitted another offer last week on yet another short sale in the same complex for 30k less.
    
    The point to this post was that many homes that are listed as actives right now, though they are short sales, they do indeed have offers that are being processed. It is especially frustrating for some bargain hunters that I am working with… everyone is patient though so that is good…
    
    SD Realtor
  - January 14, 2008 at 9:50 PM #136212
    
    SD Realtor
    Participant
    
    Pasadena I am right there with you man. The listing I mentioned was one I have. The lender took so long to process the offer that by the time they accepted it the buyers were long gone. My sellers were bummed bigtime.
    
    I have another client who like yours submitted back in October and supposedly we are supposed to get a response back this week. He has already mentally punted and we submitted another offer last week on yet another short sale in the same complex for 30k less.
    
    The point to this post was that many homes that are listed as actives right now, though they are short sales, they do indeed have offers that are being processed. It is especially frustrating for some bargain hunters that I am working with… everyone is patient though so that is good…
    
    SD Realtor
  - January 14, 2008 at 9:50 PM #136256
    
    SD Realtor
    Participant
    
    Pasadena I am right there with you man. The listing I mentioned was one I have. The lender took so long to process the offer that by the time they accepted it the buyers were long gone. My sellers were bummed bigtime.
    
    I have another client who like yours submitted back in October and supposedly we are supposed to get a response back this week. He has already mentally punted and we submitted another offer last week on yet another short sale in the same complex for 30k less.
    
    The point to this post was that many homes that are listed as actives right now, though they are short sales, they do indeed have offers that are being processed. It is especially frustrating for some bargain hunters that I am working with… everyone is patient though so that is good…
    
    SD Realtor
- January 14, 2008 at 5:08 PM #135907
  
  Pasadena Broker
  Participant
  
  You think that’s frustrating SD?
  
  I have two clients that have offers on short sales. One of them made the offer back in October and the other in November. We’re still waiting for confirmation of the acceptance of the counter by the buyer (asking price) from the lender (this is the one in October). Pain in the ass. I touch base with the client from time to time and it’s gotten a little surreal and Kafkaesque with the one from October. Almost feels like waiting in a Soviet bread line or DMV circa 1980’s.
- January 14, 2008 at 5:08 PM #135910
  
  Pasadena Broker
  Participant
  
  You think that’s frustrating SD?
  
  I have two clients that have offers on short sales. One of them made the offer back in October and the other in November. We’re still waiting for confirmation of the acceptance of the counter by the buyer (asking price) from the lender (this is the one in October). Pain in the ass. I touch base with the client from time to time and it’s gotten a little surreal and Kafkaesque with the one from October. Almost feels like waiting in a Soviet bread line or DMV circa 1980’s.
- January 14, 2008 at 5:08 PM #135968
  
  Pasadena Broker
  Participant
  
  You think that’s frustrating SD?
  
  I have two clients that have offers on short sales. One of them made the offer back in October and the other in November. We’re still waiting for confirmation of the acceptance of the counter by the buyer (asking price) from the lender (this is the one in October). Pain in the ass. I touch base with the client from time to time and it’s gotten a little surreal and Kafkaesque with the one from October. Almost feels like waiting in a Soviet bread line or DMV circa 1980’s.
- January 14, 2008 at 5:08 PM #136011
  
  Pasadena Broker
  Participant
  
  You think that’s frustrating SD?
  
  I have two clients that have offers on short sales. One of them made the offer back in October and the other in November. We’re still waiting for confirmation of the acceptance of the counter by the buyer (asking price) from the lender (this is the one in October). Pain in the ass. I touch base with the client from time to time and it’s gotten a little surreal and Kafkaesque with the one from October. Almost feels like waiting in a Soviet bread line or DMV circa 1980’s.
- January 14, 2008 at 11:35 PM #136002
  
  Pasadena Broker
  Participant
  
  The thing that gets me is that while the lender is taking their sweet ol’ time, the homeowners are pretty much drowning slowly. I mean, you would think loss mit would want to exit these props from their books ASAP but noooo. Talk about missing the boat and then some.
  
  For the buyers in October, I’m taking care of the loan and the agent is handling the disclosures/paperwork. I can’t lock anything. Good thing like your buyers, mine are patient as well, but good lord, 3 freaking months and we’re still waiting??
- January 14, 2008 at 11:35 PM #136205
  
  Pasadena Broker
  Participant
  
  The thing that gets me is that while the lender is taking their sweet ol’ time, the homeowners are pretty much drowning slowly. I mean, you would think loss mit would want to exit these props from their books ASAP but noooo. Talk about missing the boat and then some.
  
  For the buyers in October, I’m taking care of the loan and the agent is handling the disclosures/paperwork. I can’t lock anything. Good thing like your buyers, mine are patient as well, but good lord, 3 freaking months and we’re still waiting??
- January 14, 2008 at 11:35 PM #136240
  
  Pasadena Broker
  Participant
  
  The thing that gets me is that while the lender is taking their sweet ol’ time, the homeowners are pretty much drowning slowly. I mean, you would think loss mit would want to exit these props from their books ASAP but noooo. Talk about missing the boat and then some.
  
  For the buyers in October, I’m taking care of the loan and the agent is handling the disclosures/paperwork. I can’t lock anything. Good thing like your buyers, mine are patient as well, but good lord, 3 freaking months and we’re still waiting??
- January 14, 2008 at 11:35 PM #136265
  
  Pasadena Broker
  Participant
  
  The thing that gets me is that while the lender is taking their sweet ol’ time, the homeowners are pretty much drowning slowly. I mean, you would think loss mit would want to exit these props from their books ASAP but noooo. Talk about missing the boat and then some.
  
  For the buyers in October, I’m taking care of the loan and the agent is handling the disclosures/paperwork. I can’t lock anything. Good thing like your buyers, mine are patient as well, but good lord, 3 freaking months and we’re still waiting??
- January 14, 2008 at 11:35 PM #136306
  
  Pasadena Broker
  Participant
  
  The thing that gets me is that while the lender is taking their sweet ol’ time, the homeowners are pretty much drowning slowly. I mean, you would think loss mit would want to exit these props from their books ASAP but noooo. Talk about missing the boat and then some.
  
  For the buyers in October, I’m taking care of the loan and the agent is handling the disclosures/paperwork. I can’t lock anything. Good thing like your buyers, mine are patient as well, but good lord, 3 freaking months and we’re still waiting??
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