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SD Realtor
ParticipantWhat you are going to see this year from the GSEs will be nothing short of extraordinary. I think you will see things like 100% GSE backed financing. You will see non recourse loans. You may even see some pretty extreme measures to reduce inventory. I also believe you may see presidential mandates if there are problems passing through the legislature.
While there may be risk here, this may be the catalyst to get the economy moving.
This would lockup the election as well.
ParticipantI think it is the other way around scaredy.
ParticipantThere you go Arraya! Nothing to see here.
ParticipantWell they may soon.. or maybe not. Again, I am not saying and I don’t hear you saying that there is an easy way out…. it is not dem or repub… it is just crappy and the way it is… kind of like a certain football team we all know… it sucked and it will continue to suck and we should all believe what we are told.
ParticipantCome on Arraya…. Really! Don’t bring us all down man.
All you have to do is read recent threads. Clearly the majority of people believe lock stock and barrel that the course of actions taken were the only alternatives. The image of a svelte president is what excites people. American think that we can inflate the value of these crappy assets to deal with the debt. Or even worse we just write the debt off or print more money. The reality that this is the last bubble is apparent to some but not others.
ParticipantAgreed Jim, late January/early Feb is a great time to list. Personally I think this spring is going to be pretty active as well due to limited inventory of quality.
Treehugger getting an attorney is fine. That probably would constitute enough representation for a cooperating brokerage to work with you and there should be no problem but you need to see if the buyers agent broker will agree to that. Again, it just depends on how risk averse that broker is. Having an attorney simply review a purchase agreement verses representing you may not be enough for the other broker. You are arguing your case to the wrong people, contact the broker and if he is cool with it then you are good to go!
The other point that others brought up is that you may be perhaps limiting your exposure. Really what is most important to you is what you net correct? So if you get a higher sales price that covers the higher commission wouldn’t that suffice? There are no gaurantees but that is the point.
This is not the argument of what good is a listing agent for and why should I pay that commission. I understand that argument and that dovetails into the whole discussion about the entire real estate model and its current faults.
So given that as a starting point, there are simply 2 issues here.
1 – If you feel that there is not a potential to fetch a higher price using the MLS to cover the commission costs then that is fine.
2 – If you have verified with the buyers agent that his brokerage will co-op with you given your representation model, then you are good to go. Seems like a quick call to the buyers broker will answer this question.
ParticipantJust for kicks I went and looked at about 20 sold homes from about 1.25-1.4 million. All of them were financed except one was all cash. The ones that were financed were all over the map. A few had 20-25% down while the majority of them seemed to be from 25-40% down and the rest financed.
ParticipantA few comments….
One of the reasons brokerages do not enter into contracts with FSBO (buyers/sellers) is because there is a serious liability incurred by the brokerage when the other side of the transaction is not represented. I say this because you mentioned that the other party does actually have an agent. (I will return to that point in a minute)
As for what commission you want to offer that agent as a coop commission that is entirely up to you. There is no legal/ethical requirement. The “average” coop commission is 2.5 or 3%. I am not saying this is legal/ethical, or reasonable, I am just stating what the common payment is.
Remember all commissions are negotiable. You can offer what you want and the agent can take it or leave it.
Getting back to the first thing I mentioned, if the broker that the agent works for doesnt want to risk dealing with a FSBO you will not have any decision to make at all. You may want to try to contact the buyers and deal directly with them but they may feel much more comfortable having professional representation.
In that case you may want to try to strike a deal with the agent letting the agent be a dual agent and represent you as a listing agent (for these buyers only) at a low commission. Then pay him the listing and the buyers commission as well.
Good luck either way!
January 2, 2012 at 11:28 AM in reply to: pulled the trigger on this 4S – Davidson Reunion house (shortsale) #735319ParticipantI agree with you recordsclerk. For all the poo pooing we hear about short sales, if you do have patience many of them do come through. I also congratulate the op!
ParticipantI could not believe that game. wtf… I guess the reality is that both teams are mediocre at best. The afc west has been a joke of a division for god knows how long.
I did NOT enjoy the game because getting useless wins is how the chargers have maintained mediocrity. I would have much rather had a few 4 and 12s instead of 8 and 8s. Get some decent draft choices in here, although with AJ hasnt had a decent draft for about 5 years.
So I was rooting for your raiders. Remember, if the game is meaningless the chargers play great.
ParticipantShut up Dan. I told you not to tell anyone about my secret!
ParticipantOf course interest rates are determined by many things, not just the size of the debt. However by all of the factors that are used to determine those rates, we don’t really measure up very well.
You seem to have an attitude that we are untouchable, that the USA is this economic force with no soft underbelly. That there are simplistic solutions like hitting a reset button and printing money or buying our own debt and retiring it will work out. What you fail to see is that there is not an easy solution, and you can convince yourself that there is. Good man.
Doesn’t seem like many people are buying into your logic.
Once upon a time the US dollar was not the reserve currency of the world. Our relative dominance as an economic force has been a blink of an eye temporally. It can be screwed up pretty damn quickly.
ParticipantSounds like you have it all figured out. Maybe you should give the white house a call and offer them your input.
I am certain all the top economists have overlooked such a brilliant solution.
ParticipantWhat do you mean in the US?
The jury is still out. The question about the US will not be resolved for years. Check back with me in 20 years about the US.
Your time horizon is quite distorted. Answers to these questions take years/decades to resolve themselves so try again on your answer.
What is happening now is slowly auguring down and making the problem worse. You know why? Because we don’t have any other choices. We don’t reduce spending, we don’t raise taxes, and our debt service is growing not shrinking. At some point, our creditors will no longer tolerate the situation and the cost of our credit will run much higher. Soon to follow the cost of goods/services will do the same.
How can the govt focus on employment when it has so much debt service. What about unfunded entitlements on the horizon? Last I checked it was not the charter of the US govt to provide jobs. The govt cannot “fix” unemployment. The govt can create policy that may or may not induce companies to hire. they cannot put a gun to someones head and say hire people (at least not yet).
You can only kick the can down the road so much.
Try again on showing a success.
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