[garysears]

I agree the pameliza about the best shot for 20% down buyers being short sales. That is where I have been trying. But forget getting an offer accepted, I can’t even get a reply to my offers, not even the one I just made at full price the first day, the first offer. The laziness of the listing agents is just stunning. This is obviously an extreme seller’s market. Comps for short sales can be tricky. I offered 165k on a value range of 150-165k. A recent comp just closed for 260k but 4 months ago closed as a short sale for 130k. Not sure how appraisers should see it. Obviously, the 260k will get priority, but I wonder how a 100% markup on a property with both sales closed in the past 6 months really looks to lenders. Doesn’t look sustainable to me but I’ve been amazed for the past year at the return to insanity.

[garysears]

I’ve actually been considering that strategy.

[garysears]

I’ve actually been considering that strategy.

[garysears]

I’ve actually been considering that strategy.

[garysears]

I’ve actually been considering that strategy.

[garysears]

I’ve actually been considering that strategy.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[garysears]

“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”

It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.

This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.

[garysears]

CA renter, that was a great post. I agree completely.

[garysears]

CA renter, that was a great post. I agree completely.

[garysears]

CA renter, that was a great post. I agree completely.

[garysears]

CA renter, that was a great post. I agree completely.

[Author]

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