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SD Realtor
ParticipantSome quick facts of recent trannies I have closed that were short sales.
1 – There is not a single case where a second received anywhere close to full value on the loan.
2 – Just closing one in Vista. Second is getting about 18% of the total balance of which half of it is coming from the first and the buyer and buyers agent are coming in with the balance.
3 – From what I have seen the firsts generally offer the seconds about 3% of the balance. The seconds usually demand much more.
Most seconds do not choose to foreclose because of the existing risk. They then not only become responsible for the first, and the property taxes, and IRS liens, and other liens but it is simply not even close to profitable for them to do so because if it was they would be flipping properties right and left.
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If you want to check sdrs statistics guys, he does do alot of short sales so what he does say about the process carries alot more real life experience and truth then most internet articles and speculative statements made by posters. I do a few and cannot disagree with what he says at all.
ParticipantSome quick facts of recent trannies I have closed that were short sales.
1 – There is not a single case where a second received anywhere close to full value on the loan.
2 – Just closing one in Vista. Second is getting about 18% of the total balance of which half of it is coming from the first and the buyer and buyers agent are coming in with the balance.
3 – From what I have seen the firsts generally offer the seconds about 3% of the balance. The seconds usually demand much more.
Most seconds do not choose to foreclose because of the existing risk. They then not only become responsible for the first, and the property taxes, and IRS liens, and other liens but it is simply not even close to profitable for them to do so because if it was they would be flipping properties right and left.
************
If you want to check sdrs statistics guys, he does do alot of short sales so what he does say about the process carries alot more real life experience and truth then most internet articles and speculative statements made by posters. I do a few and cannot disagree with what he says at all.
ParticipantSome quick facts of recent trannies I have closed that were short sales.
1 – There is not a single case where a second received anywhere close to full value on the loan.
2 – Just closing one in Vista. Second is getting about 18% of the total balance of which half of it is coming from the first and the buyer and buyers agent are coming in with the balance.
3 – From what I have seen the firsts generally offer the seconds about 3% of the balance. The seconds usually demand much more.
Most seconds do not choose to foreclose because of the existing risk. They then not only become responsible for the first, and the property taxes, and IRS liens, and other liens but it is simply not even close to profitable for them to do so because if it was they would be flipping properties right and left.
************
If you want to check sdrs statistics guys, he does do alot of short sales so what he does say about the process carries alot more real life experience and truth then most internet articles and speculative statements made by posters. I do a few and cannot disagree with what he says at all.
ParticipantPQ is an excellent alternative to those who cannot afford Carmel Valley and/or 4S. Some of the elementary schools in PQ score extremely high and of course Poway school district does not hurt either. PQ is closer to the triangle then RB as well. No MR and HOA for most of PQ. Yes Poway, Sabre Springs, Carmel Mtn Ranch and Scripps are alternatives but PQ is a bit cheaper then all of those, a bit closer to the west and downtown, and has a higher demand (from a volume standpoint).
ParticipantPQ is an excellent alternative to those who cannot afford Carmel Valley and/or 4S. Some of the elementary schools in PQ score extremely high and of course Poway school district does not hurt either. PQ is closer to the triangle then RB as well. No MR and HOA for most of PQ. Yes Poway, Sabre Springs, Carmel Mtn Ranch and Scripps are alternatives but PQ is a bit cheaper then all of those, a bit closer to the west and downtown, and has a higher demand (from a volume standpoint).
ParticipantPQ is an excellent alternative to those who cannot afford Carmel Valley and/or 4S. Some of the elementary schools in PQ score extremely high and of course Poway school district does not hurt either. PQ is closer to the triangle then RB as well. No MR and HOA for most of PQ. Yes Poway, Sabre Springs, Carmel Mtn Ranch and Scripps are alternatives but PQ is a bit cheaper then all of those, a bit closer to the west and downtown, and has a higher demand (from a volume standpoint).
ParticipantPQ is an excellent alternative to those who cannot afford Carmel Valley and/or 4S. Some of the elementary schools in PQ score extremely high and of course Poway school district does not hurt either. PQ is closer to the triangle then RB as well. No MR and HOA for most of PQ. Yes Poway, Sabre Springs, Carmel Mtn Ranch and Scripps are alternatives but PQ is a bit cheaper then all of those, a bit closer to the west and downtown, and has a higher demand (from a volume standpoint).
ParticipantPQ is an excellent alternative to those who cannot afford Carmel Valley and/or 4S. Some of the elementary schools in PQ score extremely high and of course Poway school district does not hurt either. PQ is closer to the triangle then RB as well. No MR and HOA for most of PQ. Yes Poway, Sabre Springs, Carmel Mtn Ranch and Scripps are alternatives but PQ is a bit cheaper then all of those, a bit closer to the west and downtown, and has a higher demand (from a volume standpoint).
ParticipantI would consider PQ one of the hottest markets in the county right now. Will it ever drop? Yes I am sure it will. Has it bounced strongly? Absolutely. Check back in a year or two.
ParticipantI would consider PQ one of the hottest markets in the county right now. Will it ever drop? Yes I am sure it will. Has it bounced strongly? Absolutely. Check back in a year or two.
ParticipantI would consider PQ one of the hottest markets in the county right now. Will it ever drop? Yes I am sure it will. Has it bounced strongly? Absolutely. Check back in a year or two.
ParticipantI would consider PQ one of the hottest markets in the county right now. Will it ever drop? Yes I am sure it will. Has it bounced strongly? Absolutely. Check back in a year or two.
ParticipantI would consider PQ one of the hottest markets in the county right now. Will it ever drop? Yes I am sure it will. Has it bounced strongly? Absolutely. Check back in a year or two.
ParticipantI would not say it is a great time to buy either. I would like to see a posting where any of the regular realtors who post here say that.
Please point me to that post.
Also as a fact to consider, of the shadow inventory there are MLS listings that were sold that were distressed properties purchased by investors that would also reduce your shadow inventory count but now show up as a MLS distressed sale…
I guess reporting what we see which is strong sales activity is misconstrued by some as a “now is time to buy” mantra.
I do not understand why that is.
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