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SD Realtor
ParticipantRacer do you know if it was a cash deal that was accepted? Should be easy to find out, go to the tax roll and take a look.
Sadly this sort of stuff happens in real estate and is quite unethical. Of course you cannot get the house but you CAN make things uncomfortable for that agent and his/her broker. You can go to the broker with your offer and show that broker the offer and ask what happened. If the broker has some compelling reason for why your offer was not selected such as an all cash offer or a very low loan amount, or perhaps no contingencies at all, or something like that, then that could help give you the answer you are looking for as well.
If there seems to be no compelling reason other then the agent simply wanted the best offer you can make a complaint to the DRE.
Understand this is alot of legwork on your part but if nobody complains about this behavior it WILL NEVER STOP.
I would strongly encourage you to follow up.
************
Sadly this happens alot and yeah perhaps you should consider going directly to the listing agent for an REO. However in doing so you should also abandon hope for quality representation. However if you have your wits about you, get a good physical inspector and ask someone knowledgeable for some help, then maybe it is the way to go.
Good luck with the next place and hang in there. There will be PLENTY more.
SD Realtor
ParticipantRacer do you know if it was a cash deal that was accepted? Should be easy to find out, go to the tax roll and take a look.
Sadly this sort of stuff happens in real estate and is quite unethical. Of course you cannot get the house but you CAN make things uncomfortable for that agent and his/her broker. You can go to the broker with your offer and show that broker the offer and ask what happened. If the broker has some compelling reason for why your offer was not selected such as an all cash offer or a very low loan amount, or perhaps no contingencies at all, or something like that, then that could help give you the answer you are looking for as well.
If there seems to be no compelling reason other then the agent simply wanted the best offer you can make a complaint to the DRE.
Understand this is alot of legwork on your part but if nobody complains about this behavior it WILL NEVER STOP.
I would strongly encourage you to follow up.
************
Sadly this happens alot and yeah perhaps you should consider going directly to the listing agent for an REO. However in doing so you should also abandon hope for quality representation. However if you have your wits about you, get a good physical inspector and ask someone knowledgeable for some help, then maybe it is the way to go.
Good luck with the next place and hang in there. There will be PLENTY more.
SD Realtor
ParticipantRacer do you know if it was a cash deal that was accepted? Should be easy to find out, go to the tax roll and take a look.
Sadly this sort of stuff happens in real estate and is quite unethical. Of course you cannot get the house but you CAN make things uncomfortable for that agent and his/her broker. You can go to the broker with your offer and show that broker the offer and ask what happened. If the broker has some compelling reason for why your offer was not selected such as an all cash offer or a very low loan amount, or perhaps no contingencies at all, or something like that, then that could help give you the answer you are looking for as well.
If there seems to be no compelling reason other then the agent simply wanted the best offer you can make a complaint to the DRE.
Understand this is alot of legwork on your part but if nobody complains about this behavior it WILL NEVER STOP.
I would strongly encourage you to follow up.
************
Sadly this happens alot and yeah perhaps you should consider going directly to the listing agent for an REO. However in doing so you should also abandon hope for quality representation. However if you have your wits about you, get a good physical inspector and ask someone knowledgeable for some help, then maybe it is the way to go.
Good luck with the next place and hang in there. There will be PLENTY more.
SD Realtor
ParticipantPretty funny CAR. Yes in a post several weeks ago I was whining about how much more my grocery bills were this year compared to last year.
SD Realtor
ParticipantPretty funny CAR. Yes in a post several weeks ago I was whining about how much more my grocery bills were this year compared to last year.
SD Realtor
ParticipantPretty funny CAR. Yes in a post several weeks ago I was whining about how much more my grocery bills were this year compared to last year.
SD Realtor
ParticipantPretty funny CAR. Yes in a post several weeks ago I was whining about how much more my grocery bills were this year compared to last year.
SD Realtor
ParticipantPretty funny CAR. Yes in a post several weeks ago I was whining about how much more my grocery bills were this year compared to last year.
SD Realtor
ParticipantCorrect on both points deadzone, which is why we come circle to the original posters thoughts. Two points you made, we are times unlike we have ever seen, and high rates will kill housing.
So what is a govt to do? Well first off they will do everything they can to sustain that housing market. This will include sustaining the bond market at all costs. This will also include a resumption of stimulating that housing market when needed including manipulation of inventory, incentives, etc…
Now we all know this is the game they have been playing for a few years now but the corners have slowly been closing. Furthermore the actions by the fed and treasury have kept the bond yields at amazing levels however that game cannot be sustained indefinitely. At some point our credit will run out and our creditors will not tolerate our behavior.
I don’t see rates running up and out of the galaxy in the near term but I do believe it will happen over time. I vividly recall the high rates of the 80’s and in a matter of a few years it was incredible how high they went.
It will be quite interesting how things pan out. I think Rich capped it well in his three responses above and I agree with them all. I do know that many many successful people I have met and know were successful by working with other peoples money. I think that the opportunity to borrow money at a staggering low rate in the face of a future that IMO will be one frought with very high rates…. well it is hard to pass up.
Indeed I DO believe there will be depreciation in the high rate environment. However I think it will be tempered in some form to prevent a massive collapse that would surely happen today if rates skipped up into say double digits inside of 18 months.
There are some scary numbers to consider looking at the 10 year treasury.
April 1 1980 – 10.09 %
July 1 1981 – 15.84%October 1 1976 – 6.81%
July 1 1981 – 15.84%To me that second scenario is our secular trend of the future. As you can see the first scenario was embedded in that secular trend.
Oh yeah and this is just the 10 year yield so mortgage rates are higher then the treasury yield.
So yikes is all I can think of. The 64k question is when will this all start.
SD Realtor
ParticipantCorrect on both points deadzone, which is why we come circle to the original posters thoughts. Two points you made, we are times unlike we have ever seen, and high rates will kill housing.
So what is a govt to do? Well first off they will do everything they can to sustain that housing market. This will include sustaining the bond market at all costs. This will also include a resumption of stimulating that housing market when needed including manipulation of inventory, incentives, etc…
Now we all know this is the game they have been playing for a few years now but the corners have slowly been closing. Furthermore the actions by the fed and treasury have kept the bond yields at amazing levels however that game cannot be sustained indefinitely. At some point our credit will run out and our creditors will not tolerate our behavior.
I don’t see rates running up and out of the galaxy in the near term but I do believe it will happen over time. I vividly recall the high rates of the 80’s and in a matter of a few years it was incredible how high they went.
It will be quite interesting how things pan out. I think Rich capped it well in his three responses above and I agree with them all. I do know that many many successful people I have met and know were successful by working with other peoples money. I think that the opportunity to borrow money at a staggering low rate in the face of a future that IMO will be one frought with very high rates…. well it is hard to pass up.
Indeed I DO believe there will be depreciation in the high rate environment. However I think it will be tempered in some form to prevent a massive collapse that would surely happen today if rates skipped up into say double digits inside of 18 months.
There are some scary numbers to consider looking at the 10 year treasury.
April 1 1980 – 10.09 %
July 1 1981 – 15.84%October 1 1976 – 6.81%
July 1 1981 – 15.84%To me that second scenario is our secular trend of the future. As you can see the first scenario was embedded in that secular trend.
Oh yeah and this is just the 10 year yield so mortgage rates are higher then the treasury yield.
So yikes is all I can think of. The 64k question is when will this all start.
SD Realtor
ParticipantCorrect on both points deadzone, which is why we come circle to the original posters thoughts. Two points you made, we are times unlike we have ever seen, and high rates will kill housing.
So what is a govt to do? Well first off they will do everything they can to sustain that housing market. This will include sustaining the bond market at all costs. This will also include a resumption of stimulating that housing market when needed including manipulation of inventory, incentives, etc…
Now we all know this is the game they have been playing for a few years now but the corners have slowly been closing. Furthermore the actions by the fed and treasury have kept the bond yields at amazing levels however that game cannot be sustained indefinitely. At some point our credit will run out and our creditors will not tolerate our behavior.
I don’t see rates running up and out of the galaxy in the near term but I do believe it will happen over time. I vividly recall the high rates of the 80’s and in a matter of a few years it was incredible how high they went.
It will be quite interesting how things pan out. I think Rich capped it well in his three responses above and I agree with them all. I do know that many many successful people I have met and know were successful by working with other peoples money. I think that the opportunity to borrow money at a staggering low rate in the face of a future that IMO will be one frought with very high rates…. well it is hard to pass up.
Indeed I DO believe there will be depreciation in the high rate environment. However I think it will be tempered in some form to prevent a massive collapse that would surely happen today if rates skipped up into say double digits inside of 18 months.
There are some scary numbers to consider looking at the 10 year treasury.
April 1 1980 – 10.09 %
July 1 1981 – 15.84%October 1 1976 – 6.81%
July 1 1981 – 15.84%To me that second scenario is our secular trend of the future. As you can see the first scenario was embedded in that secular trend.
Oh yeah and this is just the 10 year yield so mortgage rates are higher then the treasury yield.
So yikes is all I can think of. The 64k question is when will this all start.
SD Realtor
ParticipantCorrect on both points deadzone, which is why we come circle to the original posters thoughts. Two points you made, we are times unlike we have ever seen, and high rates will kill housing.
So what is a govt to do? Well first off they will do everything they can to sustain that housing market. This will include sustaining the bond market at all costs. This will also include a resumption of stimulating that housing market when needed including manipulation of inventory, incentives, etc…
Now we all know this is the game they have been playing for a few years now but the corners have slowly been closing. Furthermore the actions by the fed and treasury have kept the bond yields at amazing levels however that game cannot be sustained indefinitely. At some point our credit will run out and our creditors will not tolerate our behavior.
I don’t see rates running up and out of the galaxy in the near term but I do believe it will happen over time. I vividly recall the high rates of the 80’s and in a matter of a few years it was incredible how high they went.
It will be quite interesting how things pan out. I think Rich capped it well in his three responses above and I agree with them all. I do know that many many successful people I have met and know were successful by working with other peoples money. I think that the opportunity to borrow money at a staggering low rate in the face of a future that IMO will be one frought with very high rates…. well it is hard to pass up.
Indeed I DO believe there will be depreciation in the high rate environment. However I think it will be tempered in some form to prevent a massive collapse that would surely happen today if rates skipped up into say double digits inside of 18 months.
There are some scary numbers to consider looking at the 10 year treasury.
April 1 1980 – 10.09 %
July 1 1981 – 15.84%October 1 1976 – 6.81%
July 1 1981 – 15.84%To me that second scenario is our secular trend of the future. As you can see the first scenario was embedded in that secular trend.
Oh yeah and this is just the 10 year yield so mortgage rates are higher then the treasury yield.
So yikes is all I can think of. The 64k question is when will this all start.
SD Realtor
ParticipantCorrect on both points deadzone, which is why we come circle to the original posters thoughts. Two points you made, we are times unlike we have ever seen, and high rates will kill housing.
So what is a govt to do? Well first off they will do everything they can to sustain that housing market. This will include sustaining the bond market at all costs. This will also include a resumption of stimulating that housing market when needed including manipulation of inventory, incentives, etc…
Now we all know this is the game they have been playing for a few years now but the corners have slowly been closing. Furthermore the actions by the fed and treasury have kept the bond yields at amazing levels however that game cannot be sustained indefinitely. At some point our credit will run out and our creditors will not tolerate our behavior.
I don’t see rates running up and out of the galaxy in the near term but I do believe it will happen over time. I vividly recall the high rates of the 80’s and in a matter of a few years it was incredible how high they went.
It will be quite interesting how things pan out. I think Rich capped it well in his three responses above and I agree with them all. I do know that many many successful people I have met and know were successful by working with other peoples money. I think that the opportunity to borrow money at a staggering low rate in the face of a future that IMO will be one frought with very high rates…. well it is hard to pass up.
Indeed I DO believe there will be depreciation in the high rate environment. However I think it will be tempered in some form to prevent a massive collapse that would surely happen today if rates skipped up into say double digits inside of 18 months.
There are some scary numbers to consider looking at the 10 year treasury.
April 1 1980 – 10.09 %
July 1 1981 – 15.84%October 1 1976 – 6.81%
July 1 1981 – 15.84%To me that second scenario is our secular trend of the future. As you can see the first scenario was embedded in that secular trend.
Oh yeah and this is just the 10 year yield so mortgage rates are higher then the treasury yield.
So yikes is all I can think of. The 64k question is when will this all start.
SD Realtor
ParticipantThat is my point PB. The post is not to knock MH or PL, nor did I ever say nobody buys there. Plenty of people buy there, but for a YOUNG family just starting out or with young kids it is a no brainer. Alot more convenient to walk the kids to school a few blocks rather then drive them to a private school.
I don’t mean to be politically incorrect but lets take the young Asian couple who both are engineers with a child and together they pull down 200k. You guys tell me where you think they would rather raise the family.
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