[SD Realtor]

NYer, 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!!

*****

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.

[SD Realtor]

Update time.

7/31/07 – 92131

Total Actives – 120 up by 5 from last week
Total Pendings – 43 up by 1 from last week

Closed escrows (sold) in the past week – 4 down 2
New listings added in the past week – 14 up 4 (I didn’t count but there were several relisteds I believe)
New pendings from 1 week ago – 7 up 2
New withdrawns from 1 week ago – 0 down 4
New cancelled from 1 week ago – 2 up 1
New expireds from 1 week ago – 3 same

Comments – None to speak of. A few more places came up for sale south of Pomerado. Would love to be there but they are in the mid to high 900’s. Not gonna happen for me at that price.

*****************

7/31/07 – 92126

Actives – 187 down 6
Pendings – 66 up 4

Closed escrows (sold) in the past week – 10 same
New listings since last week – 8 down 10!
New pendings from 1 week ago – 15 same
New withdrawns from 1 week ago – up 3
New cancelled from 1 week ago – 6 up 4
New expired from 1 week ago – 1 same

Comments – Still alot of activity in MM. We will be opening escrow on a listing in Summerset that has had alot of activity.

*****************************
7/31/07 Update

92129

Actives – 102 same
Pendings – 40 down 9

Closed escrows (sold) in the past week – 8 up 2
New listings since last week – 10 up 1
New pendings from last week – 6 down 5
New withdrawns from last week – 3 same
New cancelled from last week – 3 same
New expireds from last week – 1 same

7/31/07 Update

92128

Actives – 179
Pendings – 70

Closed escrows (sold) in the past week – 6
New listings since last week – 18!
New pendings from last week – 14
New withdrawns from last week – 1
New cancelled from last week – 4
New expireds from last week – 7

7/31/07 Update

92127

Actives – 241
Pendings – 72

Closed escrows (sold) in the past week – 13
New listings since last week – 15
New pendings from last week – 9
New withdrawns from last week – 5
New cancelled from last week – 3
New expireds from last week – 5

SD Realtor

Sorry but no more zips to be added.

[SD Realtor]

Update time.

7/31/07 – 92131

Total Actives – 120 up by 5 from last week
Total Pendings – 43 up by 1 from last week

Closed escrows (sold) in the past week – 4 down 2
New listings added in the past week – 14 up 4 (I didn’t count but there were several relisteds I believe)
New pendings from 1 week ago – 7 up 2
New withdrawns from 1 week ago – 0 down 4
New cancelled from 1 week ago – 2 up 1
New expireds from 1 week ago – 3 same

Comments – None to speak of. A few more places came up for sale south of Pomerado. Would love to be there but they are in the mid to high 900’s. Not gonna happen for me at that price.

*****************

7/31/07 – 92126

Actives – 187 down 6
Pendings – 66 up 4

Closed escrows (sold) in the past week – 10 same
New listings since last week – 8 down 10!
New pendings from 1 week ago – 15 same
New withdrawns from 1 week ago – up 3
New cancelled from 1 week ago – 6 up 4
New expired from 1 week ago – 1 same

Comments – Still alot of activity in MM. We will be opening escrow on a listing in Summerset that has had alot of activity.

*****************************
7/31/07 Update

92129

Actives – 102 same
Pendings – 40 down 9

Closed escrows (sold) in the past week – 8 up 2
New listings since last week – 10 up 1
New pendings from last week – 6 down 5
New withdrawns from last week – 3 same
New cancelled from last week – 3 same
New expireds from last week – 1 same

7/31/07 Update

92128

Actives – 179
Pendings – 70

Closed escrows (sold) in the past week – 6
New listings since last week – 18!
New pendings from last week – 14
New withdrawns from last week – 1
New cancelled from last week – 4
New expireds from last week – 7

7/31/07 Update

92127

Actives – 241
Pendings – 72

Closed escrows (sold) in the past week – 13
New listings since last week – 15
New pendings from last week – 9
New withdrawns from last week – 5
New cancelled from last week – 3
New expireds from last week – 5

SD Realtor

Sorry but no more zips to be added.

[SD Realtor]

dpsvend I would agree that the replies you are getting back are driven by the seller not the agent. Believe it or not listing agents don’t like to represent properties for months on in.

However, your point about the counter offers does sound dubious. Again, have your realtor ask his broker to call this agents broker.

Also your realtor should have already done a thorough analysis on what the home was bought for, and what the most likely equity position the sellers have in it. He can check the tax roll for the 4 most recent recordings and he can have his title officer send him a complete document set of recordings.

SD Realtor

[SD Realtor]

dpsvend I would agree that the replies you are getting back are driven by the seller not the agent. Believe it or not listing agents don’t like to represent properties for months on in.

However, your point about the counter offers does sound dubious. Again, have your realtor ask his broker to call this agents broker.

Also your realtor should have already done a thorough analysis on what the home was bought for, and what the most likely equity position the sellers have in it. He can check the tax roll for the 4 most recent recordings and he can have his title officer send him a complete document set of recordings.

SD Realtor

[SD Realtor]

Mix if you can wait until 09-10 then you will be in great shape. Buy what you can afford, not what you cannot afford.

SD Realtor

[SD Realtor]

Mix if you can wait until 09-10 then you will be in great shape. Buy what you can afford, not what you cannot afford.

SD Realtor

[SD Realtor]

dpsvend I understand your frustration.

This happens alot.

A few things to remember… the agent works for the seller so the seller is most likely the person who instructed the agent to give you the amount on the counter. (as insulting to you as it may be)How long has the home been on the market? How much equity do the sellers have in the home? How motivated are the sellers?

If he has the other offers then so be it.

When he sent you a counter offer did he write in the multiple counter offers area?

*******

Verifying that there are multiple counter offers is not easy. If you really do not believe this to be the case then have your realtor call the broker and ask if this is true. What proof do you have that he is lying?

*******

If you have a complaint then you can call the California DRE. However, simply filing a complaint based on an assumption on your part cannot be backed up.

*******

Again, it is quite difficult to prove other offers exist but when an agent tells me that is the case, I assume it to be true.

Several weeks back I made an offer for a client on a home in RB. We gave a fair offer, in the lower 1/3 of the price range. The Prudential listing agent said they had another offer and they countered us in a similar manner that you complained about it. My buyer got pissed and walked. The home is still on the market.

As someone who is quietly shopping for his own own, I run across many sellers who refuse my lowball offers. Similarly I run across listing agents who drive me crazy. Hang in there, ask your agent to have his broker call the listing agents broker if you REALLY believe this to be true.

SD Realtor

[SD Realtor]

dpsvend I understand your frustration.

This happens alot.

A few things to remember… the agent works for the seller so the seller is most likely the person who instructed the agent to give you the amount on the counter. (as insulting to you as it may be)How long has the home been on the market? How much equity do the sellers have in the home? How motivated are the sellers?

If he has the other offers then so be it.

When he sent you a counter offer did he write in the multiple counter offers area?

*******

Verifying that there are multiple counter offers is not easy. If you really do not believe this to be the case then have your realtor call the broker and ask if this is true. What proof do you have that he is lying?

*******

If you have a complaint then you can call the California DRE. However, simply filing a complaint based on an assumption on your part cannot be backed up.

*******

Again, it is quite difficult to prove other offers exist but when an agent tells me that is the case, I assume it to be true.

Several weeks back I made an offer for a client on a home in RB. We gave a fair offer, in the lower 1/3 of the price range. The Prudential listing agent said they had another offer and they countered us in a similar manner that you complained about it. My buyer got pissed and walked. The home is still on the market.

As someone who is quietly shopping for his own own, I run across many sellers who refuse my lowball offers. Similarly I run across listing agents who drive me crazy. Hang in there, ask your agent to have his broker call the listing agents broker if you REALLY believe this to be true.

SD Realtor

[SD Realtor]

Last I heard Pienza was at 20k but you guys have been there more recently. I will be interested to see where they are at right now.

SD Realtor

[SD Realtor]

Last I heard Pienza was at 20k but you guys have been there more recently. I will be interested to see where they are at right now.

SD Realtor

[SD Realtor]

Yes I would absolutely agree that this case smacks of fraud. I took a quick look at the comps for the timeframe of the sale. Nothing gets close to it. This sale was not recorded on the MLS as well. The buyer financed it 100%. The originating lender was First Franklin.

How this appraised, I have no idea.

This is a definite fraud in my mind.

I wonder which tranche this loan ended up in…

SD Realtor

[SD Realtor]

Yes I would absolutely agree that this case smacks of fraud. I took a quick look at the comps for the timeframe of the sale. Nothing gets close to it. This sale was not recorded on the MLS as well. The buyer financed it 100%. The originating lender was First Franklin.

How this appraised, I have no idea.

This is a definite fraud in my mind.

I wonder which tranche this loan ended up in…

SD Realtor

[SD Realtor]

Jayesky the best thing you can do is pound the pavement and kick the tires of the different developments. Sounds like you have a clear view of what you want to do and when you want to do it. I can only give you advice on Discovery as I know that building well. However take some time and check them out. I think in your case the best advice I would give would be to work with a Realtor who is located downtown and who knows it very very well. There are some very good people downtown who do just that. They know all the developments and can give the comparison for which you are seeking. You may want to be a bit vague on the timeframe of the purchase with them.

SD Realtor

[SD Realtor]

Jayesky the best thing you can do is pound the pavement and kick the tires of the different developments. Sounds like you have a clear view of what you want to do and when you want to do it. I can only give you advice on Discovery as I know that building well. However take some time and check them out. I think in your case the best advice I would give would be to work with a Realtor who is located downtown and who knows it very very well. There are some very good people downtown who do just that. They know all the developments and can give the comparison for which you are seeking. You may want to be a bit vague on the timeframe of the purchase with them.

SD Realtor

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