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SD Realtor
ParticipantHi Gary –
The most accurate way is to simply search the tax roll to see the owner. However this is quite tedious and time consuming although Perry Chase did say he was going to be formulating this project in a previous thread!
Anyways the MLS doesn’t have a clear cut way to do this. One can do a text search on various fields in the remarks or confidential remarks but that will not be totally accurate. It is very useful to track the trends as sdrealtor has done.
The best thing to do would be to create a script that would parse through the database of tax rolls for all active listings. Definitely a great project for a software engineer.
The bottom line is that the countywide numbers that sdr logs in the short sale monitor thread indicate that the percentage of short sales is growing countywide. Not only that, the percentage as a whole of the active inventory is growing as well. I would surmise that in areas like El Cajon the percentages of shorts exceed the countywide ratios fairly substantially.
My opinion is that this trend will continue. Don’t be surprised if those under 200k drop to the 150k and lower within a year or less.
SD Realtor
ParticipantHLS perhaps you can sleep. I try to not generalize and imply that my habits or feelings match my clients. I have several friends who have paid off their homes with standard fully amortized loans. Some of them paid their loans off early and some didn’t. Other people I know have 15 year mortgages.
They all not only sleep very well, but they enjoy the homes they have that are paid off, AND they still have quite handsome portfolios.
They are nor have they ever been slaves to their mortgages. I am not saying one or the other is correct, I am saying that not everyone thinks the same.
SD Realtor
ParticipantHLS perhaps you can sleep. I try to not generalize and imply that my habits or feelings match my clients. I have several friends who have paid off their homes with standard fully amortized loans. Some of them paid their loans off early and some didn’t. Other people I know have 15 year mortgages.
They all not only sleep very well, but they enjoy the homes they have that are paid off, AND they still have quite handsome portfolios.
They are nor have they ever been slaves to their mortgages. I am not saying one or the other is correct, I am saying that not everyone thinks the same.
SD Realtor
ParticipantGood to hear doublewide. Funny as we are probably really close to each other. We live on Pinot Noir Circle. Anyways good to hear you found a place!
SD Realtor
ParticipantGood to hear doublewide. Funny as we are probably really close to each other. We live on Pinot Noir Circle. Anyways good to hear you found a place!
SD Realtor
Participantdoublewide just out of curiousity do you mind if I ask why you guys are leaving? If it is personal or you don’t wanna answer please pardon me for asking.
SD Realtor
Participantdoublewide just out of curiousity do you mind if I ask why you guys are leaving? If it is personal or you don’t wanna answer please pardon me for asking.
SD Realtor
ParticipantDon’t fall for any of the hype you hear from anyone. People used exotic financing vehicles because the majority of them were buying homes that they could not afford.
There is a small segment of homebuyers who are savy and they CAN make a better return on their money then the average joe. For these savy people it may indeed make sense to use leverage and not tie up money in a home when they can make a better return. If you are one of these types then more power to you. If not then don’t risk it.
No matter how great all of your friends are, when you are making an investment as substantial as a home, I STRONGLY advise you to shop with several mortgage brokers… compare programs, rates, and do what is best for you, not what other people do.
Personally, I am risk averse and stick to the old 30 year fixed rate, fully amortized loans and I buy the rate down. If I was savy enough to make a better return on investments I would possibly try a 10 year interest only loan but I am not.
SD Realtor
ParticipantDon’t fall for any of the hype you hear from anyone. People used exotic financing vehicles because the majority of them were buying homes that they could not afford.
There is a small segment of homebuyers who are savy and they CAN make a better return on their money then the average joe. For these savy people it may indeed make sense to use leverage and not tie up money in a home when they can make a better return. If you are one of these types then more power to you. If not then don’t risk it.
No matter how great all of your friends are, when you are making an investment as substantial as a home, I STRONGLY advise you to shop with several mortgage brokers… compare programs, rates, and do what is best for you, not what other people do.
Personally, I am risk averse and stick to the old 30 year fixed rate, fully amortized loans and I buy the rate down. If I was savy enough to make a better return on investments I would possibly try a 10 year interest only loan but I am not.
SD Realtor
ParticipantI bet it will be packed… AN you were at the last auction, was it pretty well attended?
SD Realtor
ParticipantI bet it will be packed… AN you were at the last auction, was it pretty well attended?
SD Realtor
ParticipantAN I think you are correct. I would expect to see a sentiment shift for all the reasons we generally discuss. I also noticed many of the same properties as well, those that used to be on the market and have not made it back to the MLS.
SD Realtor
ParticipantAN I think you are correct. I would expect to see a sentiment shift for all the reasons we generally discuss. I also noticed many of the same properties as well, those that used to be on the market and have not made it back to the MLS.
SD Realtor
ParticipantNYer, I assume it to be true because there is just to much to lose for an agent to do something dumb like that.
Also many of my buyers are MUCH more astute and selective. Most of them, will not even respond to a counter offer that indicates multiple offers have been received. Thus, in those cases actually scares buyers off.
Really though, what recourse do I have? I can call the listing agents broker to ask, but that is generally counter productive for the transaction. I think that in many cases the seller is wagging the agents tail. Again, listing agents don’t like to hold properties. It is always the next sale that is most important. You may be surprised in some cases that the listing agent is actually pulling to get the transaction done, but the seller is being ornary. If indeed you do find the agent to be lying, then absolutely report that agent, call his broker, raise some hell.
The worst thing about this post is that I am sitting here sounding like a shill for the industry and I hate that!!
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Your case sounds interesting. The provision that you qualify with a broker of the sellers choice is peculiar. Is this an REO? I represented a client who purchased an REO from Countrywide and we had to qualify with them, but not use them. Similarly just about EVERY new home purchase from the developer will require a qualification to be done with the preferred lender but you do not have to use them for financing. If yours is a resale and not an REO then you “may” have recourse. From the sellers point of view they may have asked of this because they don’t want any flaky buyers who were prequalified by Joes Mortgage company that operates in a dark alley… see what I am saying?
Look guys, in BOTH of your cases, multiple offers may be claimed, however offers do have expirations associated with them. BE MORE PROACTIVE!!! Or HAVE YOUR AGENT BE MORE PROACTIVE. If you really don’t believe that the offers exist ask when they expire. Keep tabs on them and press harder into it.
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