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March 26, 2008 at 10:57 PM in reply to: RP – Expecting your valuable comments on this property! #177155March 26, 2008 at 10:57 PM in reply to: RP – Expecting your valuable comments on this property! #177158
SD Realtor
ParticipantTheasian why did your agent tell you that the offer needs to be in the 520-530k range? Let me ask you a few things…
How long has the home been on the market? How is it priced compared to comps? Did your agent call the other agent to get information? If the home is really priced very aggressively then it would not surprise me if that is the case. If the home has been on the market for a few months at the price you are talking about then perhaps you are right.
Unfortunately looking at the last sale is meaningless. The lender doesn’t care about that. The lender will price the home at what the lender thinks they can get for the home. The process includes thier own analysis as well as the lender ordering a BPO, brokers property opinion. So take those things into consideration.
SD Realtor
March 26, 2008 at 10:57 PM in reply to: RP – Expecting your valuable comments on this property! #177247ParticipantTheasian why did your agent tell you that the offer needs to be in the 520-530k range? Let me ask you a few things…
How long has the home been on the market? How is it priced compared to comps? Did your agent call the other agent to get information? If the home is really priced very aggressively then it would not surprise me if that is the case. If the home has been on the market for a few months at the price you are talking about then perhaps you are right.
Unfortunately looking at the last sale is meaningless. The lender doesn’t care about that. The lender will price the home at what the lender thinks they can get for the home. The process includes thier own analysis as well as the lender ordering a BPO, brokers property opinion. So take those things into consideration.
SD Realtor
ParticipantSD Engineer –
I forgot but is there also a silent second on that program as well?
SD Realtor
ParticipantSD Engineer –
I forgot but is there also a silent second on that program as well?
SD Realtor
ParticipantSD Engineer –
I forgot but is there also a silent second on that program as well?
SD Realtor
ParticipantSD Engineer –
I forgot but is there also a silent second on that program as well?
SD Realtor
ParticipantSD Engineer –
I forgot but is there also a silent second on that program as well?
SD Realtor
ParticipantAll I can say is that I am on the ground floor and I see the activity first hand. I see the homes that go on the market in Mira Mesa that are priced aggressively get snapped up pretty darn fast.
Also I am not 100% sold on sites such as Foreclosure.com and Realtytrac. I believe that they are not updated in a timely manner when notices are cured and/or when trustee sales are delayed because offers are received from short sales. Finally I would be interested to see when a home that is marked as a distressed sale is removed from that list once the home is sold during a short sale or an REO.
Once again, this is not any disclaimer that Mira Mesa or any other neighborhood is at a bottom.
ParticipantAll I can say is that I am on the ground floor and I see the activity first hand. I see the homes that go on the market in Mira Mesa that are priced aggressively get snapped up pretty darn fast.
Also I am not 100% sold on sites such as Foreclosure.com and Realtytrac. I believe that they are not updated in a timely manner when notices are cured and/or when trustee sales are delayed because offers are received from short sales. Finally I would be interested to see when a home that is marked as a distressed sale is removed from that list once the home is sold during a short sale or an REO.
Once again, this is not any disclaimer that Mira Mesa or any other neighborhood is at a bottom.
ParticipantAll I can say is that I am on the ground floor and I see the activity first hand. I see the homes that go on the market in Mira Mesa that are priced aggressively get snapped up pretty darn fast.
Also I am not 100% sold on sites such as Foreclosure.com and Realtytrac. I believe that they are not updated in a timely manner when notices are cured and/or when trustee sales are delayed because offers are received from short sales. Finally I would be interested to see when a home that is marked as a distressed sale is removed from that list once the home is sold during a short sale or an REO.
Once again, this is not any disclaimer that Mira Mesa or any other neighborhood is at a bottom.
ParticipantAll I can say is that I am on the ground floor and I see the activity first hand. I see the homes that go on the market in Mira Mesa that are priced aggressively get snapped up pretty darn fast.
Also I am not 100% sold on sites such as Foreclosure.com and Realtytrac. I believe that they are not updated in a timely manner when notices are cured and/or when trustee sales are delayed because offers are received from short sales. Finally I would be interested to see when a home that is marked as a distressed sale is removed from that list once the home is sold during a short sale or an REO.
Once again, this is not any disclaimer that Mira Mesa or any other neighborhood is at a bottom.
ParticipantAll I can say is that I am on the ground floor and I see the activity first hand. I see the homes that go on the market in Mira Mesa that are priced aggressively get snapped up pretty darn fast.
Also I am not 100% sold on sites such as Foreclosure.com and Realtytrac. I believe that they are not updated in a timely manner when notices are cured and/or when trustee sales are delayed because offers are received from short sales. Finally I would be interested to see when a home that is marked as a distressed sale is removed from that list once the home is sold during a short sale or an REO.
Once again, this is not any disclaimer that Mira Mesa or any other neighborhood is at a bottom.
March 25, 2008 at 11:36 PM in reply to: Taxpayers May Be Liable for Billions From Bear, Mortgage Rescue #176288ParticipantNothing to see hear, move along. Funny how there used to be so many posts full of glee about how the lenders will be getting what they deserve. In reality the taxpayers will bear the brunt of shortfalls in one way or another.
SD Realtor
March 25, 2008 at 11:36 PM in reply to: Taxpayers May Be Liable for Billions From Bear, Mortgage Rescue #176642ParticipantNothing to see hear, move along. Funny how there used to be so many posts full of glee about how the lenders will be getting what they deserve. In reality the taxpayers will bear the brunt of shortfalls in one way or another.
SD Realtor
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