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  • March 23, 2009 at 1:20 PM #372416
    SD Realtor
    Participant

    Yes short sales are a test of your patience. ESPECIALLY right now. Look right now we are in a rally mode. The stock market is rallying, and the housing market is more active then at anytime in the past 3 years. In my judgement we are not near a bottom in either of those entities however trying to tread water against those currents is something that I do not recommend. You also have sellers who are still very very short sighted.

    As far as the short sale goes you need to just fire and forget. You make the offer on the short sale, you hope for the best, but you should not invest in it emotionally because more often then not you get a negative result. Will you get a better deal? Sometimes yes and sometimes no.

    You have to ask yourself, “What am I looking for?” If you are just looking for a good deal, then eventually you will find it. The law of averages will catch up right? Submit 20 offers and one out of those 20 should come through if you are competitive with the rest of the market. The main problem is that now you are seeing other buyers pay what do not, or will not pay. So don’t fight it, just sit out and let time pass. If you are looking for a home that you really love, then maybe approach it differently and be prepared, (in this current market) to pay more.

    The problem with buying a house because it is a “a bargain” is that it is only a bargain at that point in time. It will not be a bargain in the future if the market continues to go down. It doesn’t matter if it is a short sale or not.

    Try not to get burned out… taking a break from it all never hurts either.

    March 23, 2009 at 1:30 PM #371808
    sunny88
    Participant

    [quote=SD Realtor]Yes short sales are a test of your patience. ESPECIALLY right now. Look right now we are in a rally mode. The stock market is rallying, and the housing market is more active then at anytime in the past 3 years. In my judgement we are not near a bottom in either of those entities however trying to tread water against those currents is something that I do not recommend. You also have sellers who are still very very short sighted.

    As far as the short sale goes you need to just fire and forget. You make the offer on the short sale, you hope for the best, but you should not invest in it emotionally because more often then not you get a negative result. Will you get a better deal? Sometimes yes and sometimes no.

    You have to ask yourself, “What am I looking for?” If you are just looking for a good deal, then eventually you will find it. The law of averages will catch up right? Submit 20 offers and one out of those 20 should come through if you are competitive with the rest of the market. The main problem is that now you are seeing other buyers pay what do not, or will not pay. So don’t fight it, just sit out and let time pass. If you are looking for a home that you really love, then maybe approach it differently and be prepared, (in this current market) to pay more.

    The problem with buying a house because it is a “a bargain” is that it is only a bargain at that point in time. It will not be a bargain in the future if the market continues to go down. It doesn’t matter if it is a short sale or not.

    Try not to get burned out… taking a break from it all never hurts either.

    [/quote]

    Your advice is very well taken. Our agent told us that the property is really worth more than the current asking price (which we doubt) and asked us to raise our offer. We decided to take a break and look elsewhere and change the agent…

    March 23, 2009 at 1:30 PM #372094
    sunny88
    Participant

    [quote=SD Realtor]Yes short sales are a test of your patience. ESPECIALLY right now. Look right now we are in a rally mode. The stock market is rallying, and the housing market is more active then at anytime in the past 3 years. In my judgement we are not near a bottom in either of those entities however trying to tread water against those currents is something that I do not recommend. You also have sellers who are still very very short sighted.

    As far as the short sale goes you need to just fire and forget. You make the offer on the short sale, you hope for the best, but you should not invest in it emotionally because more often then not you get a negative result. Will you get a better deal? Sometimes yes and sometimes no.

    You have to ask yourself, “What am I looking for?” If you are just looking for a good deal, then eventually you will find it. The law of averages will catch up right? Submit 20 offers and one out of those 20 should come through if you are competitive with the rest of the market. The main problem is that now you are seeing other buyers pay what do not, or will not pay. So don’t fight it, just sit out and let time pass. If you are looking for a home that you really love, then maybe approach it differently and be prepared, (in this current market) to pay more.

    The problem with buying a house because it is a “a bargain” is that it is only a bargain at that point in time. It will not be a bargain in the future if the market continues to go down. It doesn’t matter if it is a short sale or not.

    Try not to get burned out… taking a break from it all never hurts either.

    [/quote]

    Your advice is very well taken. Our agent told us that the property is really worth more than the current asking price (which we doubt) and asked us to raise our offer. We decided to take a break and look elsewhere and change the agent…

    March 23, 2009 at 1:30 PM #372265
    sunny88
    Participant

    [quote=SD Realtor]Yes short sales are a test of your patience. ESPECIALLY right now. Look right now we are in a rally mode. The stock market is rallying, and the housing market is more active then at anytime in the past 3 years. In my judgement we are not near a bottom in either of those entities however trying to tread water against those currents is something that I do not recommend. You also have sellers who are still very very short sighted.

    As far as the short sale goes you need to just fire and forget. You make the offer on the short sale, you hope for the best, but you should not invest in it emotionally because more often then not you get a negative result. Will you get a better deal? Sometimes yes and sometimes no.

    You have to ask yourself, “What am I looking for?” If you are just looking for a good deal, then eventually you will find it. The law of averages will catch up right? Submit 20 offers and one out of those 20 should come through if you are competitive with the rest of the market. The main problem is that now you are seeing other buyers pay what do not, or will not pay. So don’t fight it, just sit out and let time pass. If you are looking for a home that you really love, then maybe approach it differently and be prepared, (in this current market) to pay more.

    The problem with buying a house because it is a “a bargain” is that it is only a bargain at that point in time. It will not be a bargain in the future if the market continues to go down. It doesn’t matter if it is a short sale or not.

    Try not to get burned out… taking a break from it all never hurts either.

    [/quote]

    Your advice is very well taken. Our agent told us that the property is really worth more than the current asking price (which we doubt) and asked us to raise our offer. We decided to take a break and look elsewhere and change the agent…

    March 23, 2009 at 1:30 PM #372308
    sunny88
    Participant

    [quote=SD Realtor]Yes short sales are a test of your patience. ESPECIALLY right now. Look right now we are in a rally mode. The stock market is rallying, and the housing market is more active then at anytime in the past 3 years. In my judgement we are not near a bottom in either of those entities however trying to tread water against those currents is something that I do not recommend. You also have sellers who are still very very short sighted.

    As far as the short sale goes you need to just fire and forget. You make the offer on the short sale, you hope for the best, but you should not invest in it emotionally because more often then not you get a negative result. Will you get a better deal? Sometimes yes and sometimes no.

    You have to ask yourself, “What am I looking for?” If you are just looking for a good deal, then eventually you will find it. The law of averages will catch up right? Submit 20 offers and one out of those 20 should come through if you are competitive with the rest of the market. The main problem is that now you are seeing other buyers pay what do not, or will not pay. So don’t fight it, just sit out and let time pass. If you are looking for a home that you really love, then maybe approach it differently and be prepared, (in this current market) to pay more.

    The problem with buying a house because it is a “a bargain” is that it is only a bargain at that point in time. It will not be a bargain in the future if the market continues to go down. It doesn’t matter if it is a short sale or not.

    Try not to get burned out… taking a break from it all never hurts either.

    [/quote]

    Your advice is very well taken. Our agent told us that the property is really worth more than the current asking price (which we doubt) and asked us to raise our offer. We decided to take a break and look elsewhere and change the agent…

    March 23, 2009 at 1:30 PM #372421
    sunny88
    Participant

    [quote=SD Realtor]Yes short sales are a test of your patience. ESPECIALLY right now. Look right now we are in a rally mode. The stock market is rallying, and the housing market is more active then at anytime in the past 3 years. In my judgement we are not near a bottom in either of those entities however trying to tread water against those currents is something that I do not recommend. You also have sellers who are still very very short sighted.

    As far as the short sale goes you need to just fire and forget. You make the offer on the short sale, you hope for the best, but you should not invest in it emotionally because more often then not you get a negative result. Will you get a better deal? Sometimes yes and sometimes no.

    You have to ask yourself, “What am I looking for?” If you are just looking for a good deal, then eventually you will find it. The law of averages will catch up right? Submit 20 offers and one out of those 20 should come through if you are competitive with the rest of the market. The main problem is that now you are seeing other buyers pay what do not, or will not pay. So don’t fight it, just sit out and let time pass. If you are looking for a home that you really love, then maybe approach it differently and be prepared, (in this current market) to pay more.

    The problem with buying a house because it is a “a bargain” is that it is only a bargain at that point in time. It will not be a bargain in the future if the market continues to go down. It doesn’t matter if it is a short sale or not.

    Try not to get burned out… taking a break from it all never hurts either.

    [/quote]

    Your advice is very well taken. Our agent told us that the property is really worth more than the current asking price (which we doubt) and asked us to raise our offer. We decided to take a break and look elsewhere and change the agent…

    March 27, 2009 at 12:34 AM #373654
    sdrealtor
    Participant

    I’ve got one there in the low 500’s and could have sold it at least 5 or 6 times to well qualified buyers.

    Regarding short sales I agree that you need to just fire and forget. Just make sure your agent doesnt forget. I’m doing alot of them these days and in most cases it comes down to a handful of pretty equivalent offers that i can choose from. In most cases I choose based upon two factors. Qualifications of buyer (which are usually comparable among a few of ther buyers) and quality of agent (which span a wide range). I want an agent that is calm. who has stayed in regaular contact with me but has not harassed me and who is experienced enough to get the job done. I am essntially looking for the one who I beleive wont make my life miserable for the next 30 days.

    March 27, 2009 at 12:34 AM #373937
    sdrealtor
    Participant

    I’ve got one there in the low 500’s and could have sold it at least 5 or 6 times to well qualified buyers.

    Regarding short sales I agree that you need to just fire and forget. Just make sure your agent doesnt forget. I’m doing alot of them these days and in most cases it comes down to a handful of pretty equivalent offers that i can choose from. In most cases I choose based upon two factors. Qualifications of buyer (which are usually comparable among a few of ther buyers) and quality of agent (which span a wide range). I want an agent that is calm. who has stayed in regaular contact with me but has not harassed me and who is experienced enough to get the job done. I am essntially looking for the one who I beleive wont make my life miserable for the next 30 days.

    March 27, 2009 at 12:34 AM #374109
    sdrealtor
    Participant

    I’ve got one there in the low 500’s and could have sold it at least 5 or 6 times to well qualified buyers.

    Regarding short sales I agree that you need to just fire and forget. Just make sure your agent doesnt forget. I’m doing alot of them these days and in most cases it comes down to a handful of pretty equivalent offers that i can choose from. In most cases I choose based upon two factors. Qualifications of buyer (which are usually comparable among a few of ther buyers) and quality of agent (which span a wide range). I want an agent that is calm. who has stayed in regaular contact with me but has not harassed me and who is experienced enough to get the job done. I am essntially looking for the one who I beleive wont make my life miserable for the next 30 days.

    March 27, 2009 at 12:34 AM #374153
    sdrealtor
    Participant

    I’ve got one there in the low 500’s and could have sold it at least 5 or 6 times to well qualified buyers.

    Regarding short sales I agree that you need to just fire and forget. Just make sure your agent doesnt forget. I’m doing alot of them these days and in most cases it comes down to a handful of pretty equivalent offers that i can choose from. In most cases I choose based upon two factors. Qualifications of buyer (which are usually comparable among a few of ther buyers) and quality of agent (which span a wide range). I want an agent that is calm. who has stayed in regaular contact with me but has not harassed me and who is experienced enough to get the job done. I am essntially looking for the one who I beleive wont make my life miserable for the next 30 days.

    March 27, 2009 at 12:34 AM #374270
    sdrealtor
    Participant

    I’ve got one there in the low 500’s and could have sold it at least 5 or 6 times to well qualified buyers.

    Regarding short sales I agree that you need to just fire and forget. Just make sure your agent doesnt forget. I’m doing alot of them these days and in most cases it comes down to a handful of pretty equivalent offers that i can choose from. In most cases I choose based upon two factors. Qualifications of buyer (which are usually comparable among a few of ther buyers) and quality of agent (which span a wide range). I want an agent that is calm. who has stayed in regaular contact with me but has not harassed me and who is experienced enough to get the job done. I am essntially looking for the one who I beleive wont make my life miserable for the next 30 days.

    March 27, 2009 at 12:54 AM #373659
    SD Realtor
    Participant

    The Lone Quail listing is the most peculiar listing of all 4S right now. It was actually listed originally at 290k. Unfortunately you cannot view the home. They had a few offers (contingent on showing) and then the listing agent moved the price up to 370k. Today I called again to check on it and she now said the offers are over 400k. I asked if they were over 450k and she said no. Anticipated date for showings is April 7th but only if they get the tenant out of there. I could see the home going in the upper 400’s if it shows well. Getting to where it is now unseen is interesting.

    March 27, 2009 at 12:54 AM #373942
    SD Realtor
    Participant

    The Lone Quail listing is the most peculiar listing of all 4S right now. It was actually listed originally at 290k. Unfortunately you cannot view the home. They had a few offers (contingent on showing) and then the listing agent moved the price up to 370k. Today I called again to check on it and she now said the offers are over 400k. I asked if they were over 450k and she said no. Anticipated date for showings is April 7th but only if they get the tenant out of there. I could see the home going in the upper 400’s if it shows well. Getting to where it is now unseen is interesting.

    March 27, 2009 at 12:54 AM #374114
    SD Realtor
    Participant

    The Lone Quail listing is the most peculiar listing of all 4S right now. It was actually listed originally at 290k. Unfortunately you cannot view the home. They had a few offers (contingent on showing) and then the listing agent moved the price up to 370k. Today I called again to check on it and she now said the offers are over 400k. I asked if they were over 450k and she said no. Anticipated date for showings is April 7th but only if they get the tenant out of there. I could see the home going in the upper 400’s if it shows well. Getting to where it is now unseen is interesting.

    March 27, 2009 at 12:54 AM #374158
    SD Realtor
    Participant

    The Lone Quail listing is the most peculiar listing of all 4S right now. It was actually listed originally at 290k. Unfortunately you cannot view the home. They had a few offers (contingent on showing) and then the listing agent moved the price up to 370k. Today I called again to check on it and she now said the offers are over 400k. I asked if they were over 450k and she said no. Anticipated date for showings is April 7th but only if they get the tenant out of there. I could see the home going in the upper 400’s if it shows well. Getting to where it is now unseen is interesting.

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