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SD Realtor
Participantmmmmm… escrow closings are pretty much based on when the offer was made. People writing the contracts don’t usually go out of thier way to schedule the close near the end of the month. However when escrows do close at the end of the month it is a chore because the lenders usually have alot of things going on at the end of the month. You are correct though about general delays… the insurance issue though is a big problem.
SD Realtor
Participantflyer not sure what will happen… I would imagine we will have a short term reluctance on many buyers part. Seems very locical. We are in the slow cyclical portion of the year anyways. I expect the sales pattern in 08 to mimic 07…I think any effects will be short lived and most likely forgotten by spring. The secular market direction is what is more important.
PW my beef with the banks is not the acceptance or non acceptance of the short sale. It is the response time. Additionally the fact that they can take so long to respond lets listings just accumulate offers and send them in periodically while prior offers are being reviewed.
Imagine if the entire resale market had a 6 week response time on your offer? It seems to me that some procedures can be put in place to not even allow a short sale to be listed until some of the distress verification was completed by the lender. Doesn’t that make sense? I know all of them are overwhelmed but the current system is lame…Like everything else we work with what we have…it just sucks though, IMO…
Anyways it doesn’t matter to me if they accept or don’t accept the short sale. Just don’t allow them to list it as a short sale until the lender can respond in a more timely manner.
Participantflyer not sure what will happen… I would imagine we will have a short term reluctance on many buyers part. Seems very locical. We are in the slow cyclical portion of the year anyways. I expect the sales pattern in 08 to mimic 07…I think any effects will be short lived and most likely forgotten by spring. The secular market direction is what is more important.
PW my beef with the banks is not the acceptance or non acceptance of the short sale. It is the response time. Additionally the fact that they can take so long to respond lets listings just accumulate offers and send them in periodically while prior offers are being reviewed.
Imagine if the entire resale market had a 6 week response time on your offer? It seems to me that some procedures can be put in place to not even allow a short sale to be listed until some of the distress verification was completed by the lender. Doesn’t that make sense? I know all of them are overwhelmed but the current system is lame…Like everything else we work with what we have…it just sucks though, IMO…
Anyways it doesn’t matter to me if they accept or don’t accept the short sale. Just don’t allow them to list it as a short sale until the lender can respond in a more timely manner.
Participantflyer not sure what will happen… I would imagine we will have a short term reluctance on many buyers part. Seems very locical. We are in the slow cyclical portion of the year anyways. I expect the sales pattern in 08 to mimic 07…I think any effects will be short lived and most likely forgotten by spring. The secular market direction is what is more important.
PW my beef with the banks is not the acceptance or non acceptance of the short sale. It is the response time. Additionally the fact that they can take so long to respond lets listings just accumulate offers and send them in periodically while prior offers are being reviewed.
Imagine if the entire resale market had a 6 week response time on your offer? It seems to me that some procedures can be put in place to not even allow a short sale to be listed until some of the distress verification was completed by the lender. Doesn’t that make sense? I know all of them are overwhelmed but the current system is lame…Like everything else we work with what we have…it just sucks though, IMO…
Anyways it doesn’t matter to me if they accept or don’t accept the short sale. Just don’t allow them to list it as a short sale until the lender can respond in a more timely manner.
ParticipantYeah I think it is bad for everyone… It scares buyers off, it irritates sellers… it really stinks.
SD Realtor
ParticipantYeah I think it is bad for everyone… It scares buyers off, it irritates sellers… it really stinks.
SD Realtor
ParticipantYeah I think it is bad for everyone… It scares buyers off, it irritates sellers… it really stinks.
SD Realtor
ParticipantHi Arny –
The Ragweed home currently has 5 offers on it. I have already inquired on this home. The highest offer is close to the listing price and they are waiting for feedback from the lender.
Park Village is an okay part of town. I rented on Buckwheat not far from Ragweed. I had no problems with it. Whether other properties will drift down to this price by 2009 is speculative. Hopefully they will and I think it is a reasonable assumption.
There is alot more demand for homes like this in neighborhoods such as this at this price then the bears like to see or admit to.
Hopefully as the market continues to deteriorate stuff like this will slip accordingly without corresponding interest rate hikes.
Is it reasonable to assume so? I think so but there is also alot of hope at least for me personally.
SD Realtor
ParticipantHi Arny –
The Ragweed home currently has 5 offers on it. I have already inquired on this home. The highest offer is close to the listing price and they are waiting for feedback from the lender.
Park Village is an okay part of town. I rented on Buckwheat not far from Ragweed. I had no problems with it. Whether other properties will drift down to this price by 2009 is speculative. Hopefully they will and I think it is a reasonable assumption.
There is alot more demand for homes like this in neighborhoods such as this at this price then the bears like to see or admit to.
Hopefully as the market continues to deteriorate stuff like this will slip accordingly without corresponding interest rate hikes.
Is it reasonable to assume so? I think so but there is also alot of hope at least for me personally.
SD Realtor
ParticipantHi Arny –
The Ragweed home currently has 5 offers on it. I have already inquired on this home. The highest offer is close to the listing price and they are waiting for feedback from the lender.
Park Village is an okay part of town. I rented on Buckwheat not far from Ragweed. I had no problems with it. Whether other properties will drift down to this price by 2009 is speculative. Hopefully they will and I think it is a reasonable assumption.
There is alot more demand for homes like this in neighborhoods such as this at this price then the bears like to see or admit to.
Hopefully as the market continues to deteriorate stuff like this will slip accordingly without corresponding interest rate hikes.
Is it reasonable to assume so? I think so but there is also alot of hope at least for me personally.
SD Realtor
ParticipantHi DW… we had the police boot us out later in the afternoon, like 3 or 4 pm. I was up on Spring Canyon watching the progress and could not figure out why they were pulling the trigger so early…however I am not a fireman…. yet I was clearly irritated.
We tried Spring Canyon south to get out… no go… then Pomerado… no go… so we snuck out via Avenida Magnifica and the interior roads which were not to bad. I think that since they had the evac order so early, they (the police) had no problem with the exit routes being clogged up. Like you said if flames were imminent they would most likely have closed eastbound lanes and let everyone flood thier way out.
SD Realtor
ParticipantHi DW… we had the police boot us out later in the afternoon, like 3 or 4 pm. I was up on Spring Canyon watching the progress and could not figure out why they were pulling the trigger so early…however I am not a fireman…. yet I was clearly irritated.
We tried Spring Canyon south to get out… no go… then Pomerado… no go… so we snuck out via Avenida Magnifica and the interior roads which were not to bad. I think that since they had the evac order so early, they (the police) had no problem with the exit routes being clogged up. Like you said if flames were imminent they would most likely have closed eastbound lanes and let everyone flood thier way out.
SD Realtor
ParticipantHi DW… we had the police boot us out later in the afternoon, like 3 or 4 pm. I was up on Spring Canyon watching the progress and could not figure out why they were pulling the trigger so early…however I am not a fireman…. yet I was clearly irritated.
We tried Spring Canyon south to get out… no go… then Pomerado… no go… so we snuck out via Avenida Magnifica and the interior roads which were not to bad. I think that since they had the evac order so early, they (the police) had no problem with the exit routes being clogged up. Like you said if flames were imminent they would most likely have closed eastbound lanes and let everyone flood thier way out.
SD Realtor
ParticipantI picked up 2 clients from Redfin. They are potential buyers and liked Redfin but could never get a Redfin agent to show them homes. The idea of them having to have the listing agent show the home because Redfin would not worked some of the time.
SD Realtor
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