[SD Realtor]

Yes this is a tough one. I will be interested to see how it turns out. One thing that may help you out is the approval letters. If you have a copy of the approval letter from the short sale lender(s) that has the signature of the seller then that will help. If you read the short sale addendum then you will see there is text in that addendum that protects the seller in such a way that the seller does in fact not need to move forward even with approval. This may be the case where a lender demands a note to cover all or part of the deficiency.

I would agree with UR that you may want to try to sit down and work things out. What has probably transpired is somehow the seller has realized that they can continue to live in the house for free until it gets foreclosed on. They have decided that having a foreclosure is not any worse then a short sale with regards to credit history. Right or wrong that is where they are at. So… you can use vinegar or honey to try to get the home. It is a tough call.

[SD Realtor]

Yes this is a tough one. I will be interested to see how it turns out. One thing that may help you out is the approval letters. If you have a copy of the approval letter from the short sale lender(s) that has the signature of the seller then that will help. If you read the short sale addendum then you will see there is text in that addendum that protects the seller in such a way that the seller does in fact not need to move forward even with approval. This may be the case where a lender demands a note to cover all or part of the deficiency.

I would agree with UR that you may want to try to sit down and work things out. What has probably transpired is somehow the seller has realized that they can continue to live in the house for free until it gets foreclosed on. They have decided that having a foreclosure is not any worse then a short sale with regards to credit history. Right or wrong that is where they are at. So… you can use vinegar or honey to try to get the home. It is a tough call.

[SD Realtor]

Yes this is a tough one. I will be interested to see how it turns out. One thing that may help you out is the approval letters. If you have a copy of the approval letter from the short sale lender(s) that has the signature of the seller then that will help. If you read the short sale addendum then you will see there is text in that addendum that protects the seller in such a way that the seller does in fact not need to move forward even with approval. This may be the case where a lender demands a note to cover all or part of the deficiency.

I would agree with UR that you may want to try to sit down and work things out. What has probably transpired is somehow the seller has realized that they can continue to live in the house for free until it gets foreclosed on. They have decided that having a foreclosure is not any worse then a short sale with regards to credit history. Right or wrong that is where they are at. So… you can use vinegar or honey to try to get the home. It is a tough call.

[SD Realtor]

Yes this is a tough one. I will be interested to see how it turns out. One thing that may help you out is the approval letters. If you have a copy of the approval letter from the short sale lender(s) that has the signature of the seller then that will help. If you read the short sale addendum then you will see there is text in that addendum that protects the seller in such a way that the seller does in fact not need to move forward even with approval. This may be the case where a lender demands a note to cover all or part of the deficiency.

I would agree with UR that you may want to try to sit down and work things out. What has probably transpired is somehow the seller has realized that they can continue to live in the house for free until it gets foreclosed on. They have decided that having a foreclosure is not any worse then a short sale with regards to credit history. Right or wrong that is where they are at. So… you can use vinegar or honey to try to get the home. It is a tough call.

[SD Realtor]

I am pretty impressed to see cordiality on both sides here. Reading all the different entries shows vast differentials in perceptions. I would have to agree that at least for me “personally” the percentage of cash I take home that goes to the mortgage is higher then I would be comfortable with. However it is not about me, it is about the original poster and as he said, his priority is the home and the lifestyle. It may not be my priority (although it is my wifes) and although it is not many posters here, it is his and congrats to lots of you guys for not burying the poster because of his priority. Also congrats to the poster for listening to the input and not getting overly defensive or harsh.

To each his own, personally it is a bit to much for me but if it works for you, try to get the best deal you can.

[SD Realtor]

I am pretty impressed to see cordiality on both sides here. Reading all the different entries shows vast differentials in perceptions. I would have to agree that at least for me “personally” the percentage of cash I take home that goes to the mortgage is higher then I would be comfortable with. However it is not about me, it is about the original poster and as he said, his priority is the home and the lifestyle. It may not be my priority (although it is my wifes) and although it is not many posters here, it is his and congrats to lots of you guys for not burying the poster because of his priority. Also congrats to the poster for listening to the input and not getting overly defensive or harsh.

To each his own, personally it is a bit to much for me but if it works for you, try to get the best deal you can.

[SD Realtor]

I am pretty impressed to see cordiality on both sides here. Reading all the different entries shows vast differentials in perceptions. I would have to agree that at least for me “personally” the percentage of cash I take home that goes to the mortgage is higher then I would be comfortable with. However it is not about me, it is about the original poster and as he said, his priority is the home and the lifestyle. It may not be my priority (although it is my wifes) and although it is not many posters here, it is his and congrats to lots of you guys for not burying the poster because of his priority. Also congrats to the poster for listening to the input and not getting overly defensive or harsh.

To each his own, personally it is a bit to much for me but if it works for you, try to get the best deal you can.

[SD Realtor]

I am pretty impressed to see cordiality on both sides here. Reading all the different entries shows vast differentials in perceptions. I would have to agree that at least for me “personally” the percentage of cash I take home that goes to the mortgage is higher then I would be comfortable with. However it is not about me, it is about the original poster and as he said, his priority is the home and the lifestyle. It may not be my priority (although it is my wifes) and although it is not many posters here, it is his and congrats to lots of you guys for not burying the poster because of his priority. Also congrats to the poster for listening to the input and not getting overly defensive or harsh.

To each his own, personally it is a bit to much for me but if it works for you, try to get the best deal you can.

[SD Realtor]

I am pretty impressed to see cordiality on both sides here. Reading all the different entries shows vast differentials in perceptions. I would have to agree that at least for me “personally” the percentage of cash I take home that goes to the mortgage is higher then I would be comfortable with. However it is not about me, it is about the original poster and as he said, his priority is the home and the lifestyle. It may not be my priority (although it is my wifes) and although it is not many posters here, it is his and congrats to lots of you guys for not burying the poster because of his priority. Also congrats to the poster for listening to the input and not getting overly defensive or harsh.

To each his own, personally it is a bit to much for me but if it works for you, try to get the best deal you can.

[SD Realtor]

Sorry for not answering sooner but have not had time. What I was trying to say in simple terms is that the govt will try to do whatever they can. Now to me that is two fold, first off yes throw in every stopgap they can to slow things down. However, even Obama himself has said that we need to get the values of houses back up. Does that mean to 2005 levels? I don’t know, on its own it is an ambiguous statement isn’t it? What do YOU GUYS think the president meant by that statement.

I mean it IS abundantly clear to me at least that the govt MUST at least try to stem things AND the only way to really get the wheels grinding again will be to increase sales, to get people to buy, and to get prices up.

So, did I specifically mean 05/06 prices? Well not really but I do believe the govt ABSOLUTELY wants to see price increases. No doubt in my mind at all.

[SD Realtor]

Sorry for not answering sooner but have not had time. What I was trying to say in simple terms is that the govt will try to do whatever they can. Now to me that is two fold, first off yes throw in every stopgap they can to slow things down. However, even Obama himself has said that we need to get the values of houses back up. Does that mean to 2005 levels? I don’t know, on its own it is an ambiguous statement isn’t it? What do YOU GUYS think the president meant by that statement.

I mean it IS abundantly clear to me at least that the govt MUST at least try to stem things AND the only way to really get the wheels grinding again will be to increase sales, to get people to buy, and to get prices up.

So, did I specifically mean 05/06 prices? Well not really but I do believe the govt ABSOLUTELY wants to see price increases. No doubt in my mind at all.

[SD Realtor]

Sorry for not answering sooner but have not had time. What I was trying to say in simple terms is that the govt will try to do whatever they can. Now to me that is two fold, first off yes throw in every stopgap they can to slow things down. However, even Obama himself has said that we need to get the values of houses back up. Does that mean to 2005 levels? I don’t know, on its own it is an ambiguous statement isn’t it? What do YOU GUYS think the president meant by that statement.

I mean it IS abundantly clear to me at least that the govt MUST at least try to stem things AND the only way to really get the wheels grinding again will be to increase sales, to get people to buy, and to get prices up.

So, did I specifically mean 05/06 prices? Well not really but I do believe the govt ABSOLUTELY wants to see price increases. No doubt in my mind at all.

[SD Realtor]

Sorry for not answering sooner but have not had time. What I was trying to say in simple terms is that the govt will try to do whatever they can. Now to me that is two fold, first off yes throw in every stopgap they can to slow things down. However, even Obama himself has said that we need to get the values of houses back up. Does that mean to 2005 levels? I don’t know, on its own it is an ambiguous statement isn’t it? What do YOU GUYS think the president meant by that statement.

I mean it IS abundantly clear to me at least that the govt MUST at least try to stem things AND the only way to really get the wheels grinding again will be to increase sales, to get people to buy, and to get prices up.

So, did I specifically mean 05/06 prices? Well not really but I do believe the govt ABSOLUTELY wants to see price increases. No doubt in my mind at all.

[SD Realtor]

Sorry for not answering sooner but have not had time. What I was trying to say in simple terms is that the govt will try to do whatever they can. Now to me that is two fold, first off yes throw in every stopgap they can to slow things down. However, even Obama himself has said that we need to get the values of houses back up. Does that mean to 2005 levels? I don’t know, on its own it is an ambiguous statement isn’t it? What do YOU GUYS think the president meant by that statement.

I mean it IS abundantly clear to me at least that the govt MUST at least try to stem things AND the only way to really get the wheels grinding again will be to increase sales, to get people to buy, and to get prices up.

So, did I specifically mean 05/06 prices? Well not really but I do believe the govt ABSOLUTELY wants to see price increases. No doubt in my mind at all.

[SD Realtor]

Hi Scarlett

I have been in this listing. I forgot how many offers on it because I called recently but it was pretty active. I do not have anything groundbreaking to say as the previous posters have already covered it. PQ is and always will be a destination for many people as a cheaper yet pretty much quality alternative to 4S and Carmel Valley. Indeed the bounce in PQ in my mind has been stronger then the bounce in 4S and CV for this year so far.

The bottom line is that if you are going to buy now then you WILL overpay if there is anything redeeming about the home. It is simply a matter of crappy supply and this IS A MANIPULATED MARKET. I do not believe the market will up and run away on you so if you can wait then wait. Don’t sweat the 8k tax credit as I will be willing to bet you that there will be another incentive on the heels of this one expiring.

If you think PQ is going to do an abrupt 180 and plung back down to where it was 6 months ago then wait. I do not think it will but everyone has thier own opinion. I think that down the road if there are interest rate disruptions then yes PQ can head south but that will be at the cost of a higher rate. If you have large cash reserves you are in the catbirds seat.

You need to measure out what is right for you in terms of having the home verses waiting for the bottom.

[Author]

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