[SD Realtor]

LA Renter good question. I think that last year was a wake up call for sellers that the peak was already in the rear view mirror. I would not say they were trying to cash out at the top, but they sure were trying to cash out. I think you nailed it, alot of it was soft inventory. Alot of the psyche was okay if I don’t sell now then in 07 it will get better… so it didn’t get better… why didn’t they return to the market? Well either they think it will be better in 08, or they decided to say screw it I am gonna sit on my equity and not sell… I couldn’t put a number on it but I think it was a fair percentage. Given that inventory did not hit last years levels AND we know that the percentage of distress sales this year is way up from last year, then that does back up logic that soft inventory last year made up a fair percentage of active listings.

SD Realtor

[SD Realtor]

LA Renter good question. I think that last year was a wake up call for sellers that the peak was already in the rear view mirror. I would not say they were trying to cash out at the top, but they sure were trying to cash out. I think you nailed it, alot of it was soft inventory. Alot of the psyche was okay if I don’t sell now then in 07 it will get better… so it didn’t get better… why didn’t they return to the market? Well either they think it will be better in 08, or they decided to say screw it I am gonna sit on my equity and not sell… I couldn’t put a number on it but I think it was a fair percentage. Given that inventory did not hit last years levels AND we know that the percentage of distress sales this year is way up from last year, then that does back up logic that soft inventory last year made up a fair percentage of active listings.

SD Realtor

[SD Realtor]

PadreBrian you seem to have alot of knowledge. First about the loan industry and now about real estate listings.

How about the truth rather then speculation….

Real estate listings are essentially purchased by third party agencies. Realtor.com, Zip Realty, Housevalues…etc, essentially purchase all of the listings they post from each and every association of realtors in any/every county in the great nation of ours. This is how they populate their databases. In fact, any site you go to whether it is a Coldwell Banker, or Prudential or a small discounter, or a Help U Sell, or anyone that advertises MLS listings doesn’t actually put the MLS listing on their site. These databases are actually provided by a third party company called IDX who then sells their services to all the people who want to provide on line access to searches.

The fact is that there are not any more or less listings on realtor.com or mls.com or any other of these third party agencies that advertise MLS listingsincluding IDX. The fact is that the timing to which they update their databses is what accounts for the differences. Similarly these third party providers are not obligated to post ALL of the information/pictures/etc in the actual MLS listing. Additionally the realtor associations will indeed distill out certain portions of the listings such as confidential remarks and coop commissions.

Realtor.com does not play any games as you have accussed them of. Neither does the associations that provide the MLS.

Please show me a listing that matches the example of the text you wrote below,

“The laughable thing about that is that when you use realitor.com and zoom into a known area with houses for sale only half of them are listed on realtor.com.”

I will personally look it up and verify it for you.

Furthermore this was also taken from your post;

“Realtors also play tricks by having the seller remove from market for a few days, then putting it back on. They also just rotate the houses around from listing/non-listing. It’s a lil game to prevent people from low-balling…ie paying what the property is really worth.”

Once again, show me listings that have that. PadreBrian, if you are a realtor and you have a listing, cancel it, put it on the MLS a couple days later, and continue to do this in a chronic manner you will be busted from the MLS.

Please explain to me how this will prevent low balling anyways. Any savy buyer has their agent do a thorough listing check and property background.

You cannot just move a house around like that. You will get busted by the MLS, your broker will also discipline you, and you will essentially lose your MLS priviledge.

Indeed I have had a client cancel on me 2 days after listing it only to call me the next day to put it back on. It happens.

Please, is it to much to ask to at least preface statements like this with an in my opinion statement?

SD Realtor

[SD Realtor]

PadreBrian you seem to have alot of knowledge. First about the loan industry and now about real estate listings.

How about the truth rather then speculation….

Real estate listings are essentially purchased by third party agencies. Realtor.com, Zip Realty, Housevalues…etc, essentially purchase all of the listings they post from each and every association of realtors in any/every county in the great nation of ours. This is how they populate their databases. In fact, any site you go to whether it is a Coldwell Banker, or Prudential or a small discounter, or a Help U Sell, or anyone that advertises MLS listings doesn’t actually put the MLS listing on their site. These databases are actually provided by a third party company called IDX who then sells their services to all the people who want to provide on line access to searches.

The fact is that there are not any more or less listings on realtor.com or mls.com or any other of these third party agencies that advertise MLS listingsincluding IDX. The fact is that the timing to which they update their databses is what accounts for the differences. Similarly these third party providers are not obligated to post ALL of the information/pictures/etc in the actual MLS listing. Additionally the realtor associations will indeed distill out certain portions of the listings such as confidential remarks and coop commissions.

Realtor.com does not play any games as you have accussed them of. Neither does the associations that provide the MLS.

Please show me a listing that matches the example of the text you wrote below,

“The laughable thing about that is that when you use realitor.com and zoom into a known area with houses for sale only half of them are listed on realtor.com.”

I will personally look it up and verify it for you.

Furthermore this was also taken from your post;

“Realtors also play tricks by having the seller remove from market for a few days, then putting it back on. They also just rotate the houses around from listing/non-listing. It’s a lil game to prevent people from low-balling…ie paying what the property is really worth.”

Once again, show me listings that have that. PadreBrian, if you are a realtor and you have a listing, cancel it, put it on the MLS a couple days later, and continue to do this in a chronic manner you will be busted from the MLS.

Please explain to me how this will prevent low balling anyways. Any savy buyer has their agent do a thorough listing check and property background.

You cannot just move a house around like that. You will get busted by the MLS, your broker will also discipline you, and you will essentially lose your MLS priviledge.

Indeed I have had a client cancel on me 2 days after listing it only to call me the next day to put it back on. It happens.

Please, is it to much to ask to at least preface statements like this with an in my opinion statement?

SD Realtor

[SD Realtor]

PadreBrian you seem to have alot of knowledge. First about the loan industry and now about real estate listings.

How about the truth rather then speculation….

Real estate listings are essentially purchased by third party agencies. Realtor.com, Zip Realty, Housevalues…etc, essentially purchase all of the listings they post from each and every association of realtors in any/every county in the great nation of ours. This is how they populate their databases. In fact, any site you go to whether it is a Coldwell Banker, or Prudential or a small discounter, or a Help U Sell, or anyone that advertises MLS listings doesn’t actually put the MLS listing on their site. These databases are actually provided by a third party company called IDX who then sells their services to all the people who want to provide on line access to searches.

The fact is that there are not any more or less listings on realtor.com or mls.com or any other of these third party agencies that advertise MLS listingsincluding IDX. The fact is that the timing to which they update their databses is what accounts for the differences. Similarly these third party providers are not obligated to post ALL of the information/pictures/etc in the actual MLS listing. Additionally the realtor associations will indeed distill out certain portions of the listings such as confidential remarks and coop commissions.

Realtor.com does not play any games as you have accussed them of. Neither does the associations that provide the MLS.

Please show me a listing that matches the example of the text you wrote below,

“The laughable thing about that is that when you use realitor.com and zoom into a known area with houses for sale only half of them are listed on realtor.com.”

I will personally look it up and verify it for you.

Furthermore this was also taken from your post;

“Realtors also play tricks by having the seller remove from market for a few days, then putting it back on. They also just rotate the houses around from listing/non-listing. It’s a lil game to prevent people from low-balling…ie paying what the property is really worth.”

Once again, show me listings that have that. PadreBrian, if you are a realtor and you have a listing, cancel it, put it on the MLS a couple days later, and continue to do this in a chronic manner you will be busted from the MLS.

Please explain to me how this will prevent low balling anyways. Any savy buyer has their agent do a thorough listing check and property background.

You cannot just move a house around like that. You will get busted by the MLS, your broker will also discipline you, and you will essentially lose your MLS priviledge.

Indeed I have had a client cancel on me 2 days after listing it only to call me the next day to put it back on. It happens.

Please, is it to much to ask to at least preface statements like this with an in my opinion statement?

SD Realtor

[SD Realtor]

Yeah I know… he did not take the entire deposit but he dinged me for 1200 bucks. Before I signed the lease I told him we have a female german sheppard and that she would spot the lawn… we also have my mother in laws skipper key (aka the rat) so yeah when we moved out the lawn was spotted… I was going to dig up all the spotted areas and patch them but no way did I have the time once we moved. The lawn was not in pristine shape when we moved in anyways… So the long and short of it was yeah he billed me for the materials, new sod, and labor to have another lawn rolled out… I was to busy to fight him on it. I figure it is a karma play and in the end he will get his.

You are right those homes will probably be the last in MM to pencil out as a rental.

SD Realtor

[SD Realtor]

Yeah I know… he did not take the entire deposit but he dinged me for 1200 bucks. Before I signed the lease I told him we have a female german sheppard and that she would spot the lawn… we also have my mother in laws skipper key (aka the rat) so yeah when we moved out the lawn was spotted… I was going to dig up all the spotted areas and patch them but no way did I have the time once we moved. The lawn was not in pristine shape when we moved in anyways… So the long and short of it was yeah he billed me for the materials, new sod, and labor to have another lawn rolled out… I was to busy to fight him on it. I figure it is a karma play and in the end he will get his.

You are right those homes will probably be the last in MM to pencil out as a rental.

SD Realtor

[SD Realtor]

Yeah I know… he did not take the entire deposit but he dinged me for 1200 bucks. Before I signed the lease I told him we have a female german sheppard and that she would spot the lawn… we also have my mother in laws skipper key (aka the rat) so yeah when we moved out the lawn was spotted… I was going to dig up all the spotted areas and patch them but no way did I have the time once we moved. The lawn was not in pristine shape when we moved in anyways… So the long and short of it was yeah he billed me for the materials, new sod, and labor to have another lawn rolled out… I was to busy to fight him on it. I figure it is a karma play and in the end he will get his.

You are right those homes will probably be the last in MM to pencil out as a rental.

SD Realtor

[SD Realtor]

AN our favorite listing at Cheryl Ridge Court finally gave up as well. I think he was down in the 630’s and threw in the towel… and that nice new backyard lawn was courtesy of my rental deposit!!

SD Realtor

[SD Realtor]

AN our favorite listing at Cheryl Ridge Court finally gave up as well. I think he was down in the 630’s and threw in the towel… and that nice new backyard lawn was courtesy of my rental deposit!!

SD Realtor

[SD Realtor]

AN our favorite listing at Cheryl Ridge Court finally gave up as well. I think he was down in the 630’s and threw in the towel… and that nice new backyard lawn was courtesy of my rental deposit!!

SD Realtor

[SD Realtor]

Kaycee I believe what we need is for the government to try to focus on running the country effectively. Once they get that right then they can meddle in some of the markets.

Short sales are difficult because the loss mitigation group of the lender is exactly that, an independent team that performs their own evaluation of the property. I have a short sale listing and I have spoke directly to the loss mitigation group and they simply do not divulge (at least in this case) what they will accept or not accept.

Now the flip side is that most of the time, a Realtor can base the price of the home on comps and help the seller to show what price will at least make the home competitive. Similarly the realtor can also send in those comps with the offer to display to the loss mitigation team that this is a competitive offer (at least in the realtors mind). So yeah the short sale process is kind of a pain but I think as the depreciation cycle continues the process will work in a more favorable manner. One thing to remember is that all the lenders are facing a tidal wave of short sale applications now. (no this is not a sympathy plea for them) The point is that they have to grow these departments substantially and over time they will perform more efficiently.

I mean right now a NOD does not even get filed until someone is at least 3 months late. In my sellers case he missed almost 6 months before the NOD got filed!

So yeah I hear ya… it would be nice if the process was more streamlined… if I could call the loss mitigation group and go, “give me your bottom line” then market the home at that and then we all save time. If it sells at that great and if not then… auction time.

Like Rustico posted, he bought his home as a short sale…it takes more time but it does and can happen.

SD Realtor

[SD Realtor]

Kaycee I believe what we need is for the government to try to focus on running the country effectively. Once they get that right then they can meddle in some of the markets.

Short sales are difficult because the loss mitigation group of the lender is exactly that, an independent team that performs their own evaluation of the property. I have a short sale listing and I have spoke directly to the loss mitigation group and they simply do not divulge (at least in this case) what they will accept or not accept.

Now the flip side is that most of the time, a Realtor can base the price of the home on comps and help the seller to show what price will at least make the home competitive. Similarly the realtor can also send in those comps with the offer to display to the loss mitigation team that this is a competitive offer (at least in the realtors mind). So yeah the short sale process is kind of a pain but I think as the depreciation cycle continues the process will work in a more favorable manner. One thing to remember is that all the lenders are facing a tidal wave of short sale applications now. (no this is not a sympathy plea for them) The point is that they have to grow these departments substantially and over time they will perform more efficiently.

I mean right now a NOD does not even get filed until someone is at least 3 months late. In my sellers case he missed almost 6 months before the NOD got filed!

So yeah I hear ya… it would be nice if the process was more streamlined… if I could call the loss mitigation group and go, “give me your bottom line” then market the home at that and then we all save time. If it sells at that great and if not then… auction time.

Like Rustico posted, he bought his home as a short sale…it takes more time but it does and can happen.

SD Realtor

[SD Realtor]

Kaycee I believe what we need is for the government to try to focus on running the country effectively. Once they get that right then they can meddle in some of the markets.

Short sales are difficult because the loss mitigation group of the lender is exactly that, an independent team that performs their own evaluation of the property. I have a short sale listing and I have spoke directly to the loss mitigation group and they simply do not divulge (at least in this case) what they will accept or not accept.

Now the flip side is that most of the time, a Realtor can base the price of the home on comps and help the seller to show what price will at least make the home competitive. Similarly the realtor can also send in those comps with the offer to display to the loss mitigation team that this is a competitive offer (at least in the realtors mind). So yeah the short sale process is kind of a pain but I think as the depreciation cycle continues the process will work in a more favorable manner. One thing to remember is that all the lenders are facing a tidal wave of short sale applications now. (no this is not a sympathy plea for them) The point is that they have to grow these departments substantially and over time they will perform more efficiently.

I mean right now a NOD does not even get filed until someone is at least 3 months late. In my sellers case he missed almost 6 months before the NOD got filed!

So yeah I hear ya… it would be nice if the process was more streamlined… if I could call the loss mitigation group and go, “give me your bottom line” then market the home at that and then we all save time. If it sells at that great and if not then… auction time.

Like Rustico posted, he bought his home as a short sale…it takes more time but it does and can happen.

SD Realtor

[SD Realtor]

Cyclical inventory declines usually begin in June. sdr has posted his synopsis of this in the short sale monitor. The decline should continue through the fall and bottom out in the holiday season. Then start to move back up towards the beginning of the year.

Distress sales and foreclosures could alter the pattern, we will see.

SD Realtor

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