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SD Realtor
ParticipantI definitely agree with esmith and hopefully agree with pw.
SD Realtor
ParticipantI definitely agree with esmith and hopefully agree with pw.
SD Realtor
Participantsd-maybe for the first time in a long time I was not on line during my usual 11pm – 2pm hours. I had some code failing and had to gruel through it so I was offline…
Unfortunately I don’t have any unique insights to add because Jim and Rustico nailed it. Hey different agents, different efforts you know? Like I said, I will pretty much do whatever the client wants me to do. Most of my seasoned lowballers have learned the drill. That is, they will be pretty gung ho to submit offers at first… After several rejections it gets a bit repetitive and they are okay with me just calling the listing agent and checking to see if it is worth thier time (my buyers time) to submit a written offer. Even if the listing agent says no it is not worth our time, I will absolutely submit the offer if the buyer wants me to. However for alot of the properties we have been looking at, many of them either have offers or the banks will not look at the lowball offers so… well we sit tight.
This is again, why I really want to see some of the REOs that have been discussed where the sales price has supposedly been 50% of the listed price.
Lowball offers don’t have to be offensive. In the case where I call the listing agent I tell it like it is… I have a very well qualified buyer who is coming in with these terms but is very concerned about the depreciating market and wants to build in some margin. Mostly the listing agents are understanding but yeah some are snobby.
Hang in there sd-maybe.
SD Realtor
ps Rus and Jim thanks for the kind words. Jim I know you are only being nice to me cuz I owe you dinner.
Participantsd-maybe for the first time in a long time I was not on line during my usual 11pm – 2pm hours. I had some code failing and had to gruel through it so I was offline…
Unfortunately I don’t have any unique insights to add because Jim and Rustico nailed it. Hey different agents, different efforts you know? Like I said, I will pretty much do whatever the client wants me to do. Most of my seasoned lowballers have learned the drill. That is, they will be pretty gung ho to submit offers at first… After several rejections it gets a bit repetitive and they are okay with me just calling the listing agent and checking to see if it is worth thier time (my buyers time) to submit a written offer. Even if the listing agent says no it is not worth our time, I will absolutely submit the offer if the buyer wants me to. However for alot of the properties we have been looking at, many of them either have offers or the banks will not look at the lowball offers so… well we sit tight.
This is again, why I really want to see some of the REOs that have been discussed where the sales price has supposedly been 50% of the listed price.
Lowball offers don’t have to be offensive. In the case where I call the listing agent I tell it like it is… I have a very well qualified buyer who is coming in with these terms but is very concerned about the depreciating market and wants to build in some margin. Mostly the listing agents are understanding but yeah some are snobby.
Hang in there sd-maybe.
SD Realtor
ps Rus and Jim thanks for the kind words. Jim I know you are only being nice to me cuz I owe you dinner.
Participantsd-maybe for the first time in a long time I was not on line during my usual 11pm – 2pm hours. I had some code failing and had to gruel through it so I was offline…
Unfortunately I don’t have any unique insights to add because Jim and Rustico nailed it. Hey different agents, different efforts you know? Like I said, I will pretty much do whatever the client wants me to do. Most of my seasoned lowballers have learned the drill. That is, they will be pretty gung ho to submit offers at first… After several rejections it gets a bit repetitive and they are okay with me just calling the listing agent and checking to see if it is worth thier time (my buyers time) to submit a written offer. Even if the listing agent says no it is not worth our time, I will absolutely submit the offer if the buyer wants me to. However for alot of the properties we have been looking at, many of them either have offers or the banks will not look at the lowball offers so… well we sit tight.
This is again, why I really want to see some of the REOs that have been discussed where the sales price has supposedly been 50% of the listed price.
Lowball offers don’t have to be offensive. In the case where I call the listing agent I tell it like it is… I have a very well qualified buyer who is coming in with these terms but is very concerned about the depreciating market and wants to build in some margin. Mostly the listing agents are understanding but yeah some are snobby.
Hang in there sd-maybe.
SD Realtor
ps Rus and Jim thanks for the kind words. Jim I know you are only being nice to me cuz I owe you dinner.
Participantsd-maybe for the first time in a long time I was not on line during my usual 11pm – 2pm hours. I had some code failing and had to gruel through it so I was offline…
Unfortunately I don’t have any unique insights to add because Jim and Rustico nailed it. Hey different agents, different efforts you know? Like I said, I will pretty much do whatever the client wants me to do. Most of my seasoned lowballers have learned the drill. That is, they will be pretty gung ho to submit offers at first… After several rejections it gets a bit repetitive and they are okay with me just calling the listing agent and checking to see if it is worth thier time (my buyers time) to submit a written offer. Even if the listing agent says no it is not worth our time, I will absolutely submit the offer if the buyer wants me to. However for alot of the properties we have been looking at, many of them either have offers or the banks will not look at the lowball offers so… well we sit tight.
This is again, why I really want to see some of the REOs that have been discussed where the sales price has supposedly been 50% of the listed price.
Lowball offers don’t have to be offensive. In the case where I call the listing agent I tell it like it is… I have a very well qualified buyer who is coming in with these terms but is very concerned about the depreciating market and wants to build in some margin. Mostly the listing agents are understanding but yeah some are snobby.
Hang in there sd-maybe.
SD Realtor
ps Rus and Jim thanks for the kind words. Jim I know you are only being nice to me cuz I owe you dinner.
Participantsd-maybe for the first time in a long time I was not on line during my usual 11pm – 2pm hours. I had some code failing and had to gruel through it so I was offline…
Unfortunately I don’t have any unique insights to add because Jim and Rustico nailed it. Hey different agents, different efforts you know? Like I said, I will pretty much do whatever the client wants me to do. Most of my seasoned lowballers have learned the drill. That is, they will be pretty gung ho to submit offers at first… After several rejections it gets a bit repetitive and they are okay with me just calling the listing agent and checking to see if it is worth thier time (my buyers time) to submit a written offer. Even if the listing agent says no it is not worth our time, I will absolutely submit the offer if the buyer wants me to. However for alot of the properties we have been looking at, many of them either have offers or the banks will not look at the lowball offers so… well we sit tight.
This is again, why I really want to see some of the REOs that have been discussed where the sales price has supposedly been 50% of the listed price.
Lowball offers don’t have to be offensive. In the case where I call the listing agent I tell it like it is… I have a very well qualified buyer who is coming in with these terms but is very concerned about the depreciating market and wants to build in some margin. Mostly the listing agents are understanding but yeah some are snobby.
Hang in there sd-maybe.
SD Realtor
ps Rus and Jim thanks for the kind words. Jim I know you are only being nice to me cuz I owe you dinner.
ParticipantUmmm… not sure if the slope is slanted. The other one we discussed was Mesa Norte. That ended up selling for 1.775M and it originally went for like 2.2 or something like that.
SD Realtor
ParticipantUmmm… not sure if the slope is slanted. The other one we discussed was Mesa Norte. That ended up selling for 1.775M and it originally went for like 2.2 or something like that.
SD Realtor
ParticipantUmmm… not sure if the slope is slanted. The other one we discussed was Mesa Norte. That ended up selling for 1.775M and it originally went for like 2.2 or something like that.
SD Realtor
ParticipantUmmm… not sure if the slope is slanted. The other one we discussed was Mesa Norte. That ended up selling for 1.775M and it originally went for like 2.2 or something like that.
SD Realtor
ParticipantUmmm… not sure if the slope is slanted. The other one we discussed was Mesa Norte. That ended up selling for 1.775M and it originally went for like 2.2 or something like that.
SD Realtor
ParticipantI would say this guys… the more you anticipate steep price drops the longer they will appear to take. I have two different price shoppers in Mira Mesa and one of them is very astute. Together we have witnessed first hand the effect of the lowest priced REO sales going into pending status very quickly. The most successful REOs have been those that have been priced aggressively and found a demand which has been not altogether surprising to me. What is good is that in the long run these will all form the new comps for homes that hit the market a few months from now. The bad thing is that both my Mira Mesa clients will need to remain patient for the price range they are shopping in.
As for PB I think that it will lose footing but it will take awhile. The seeds of denial are sown deep in PB. Also I would not take much stock in Realtytrac. One of the problems is that NODs and NOTs that are cured never seem to be reported by Realtytrac for a LONG time. Also short sales that are NODs and have offers on them that are into the lender already are not considered either.
Don’t mistake this post for insinuating that PB is a sanctuary to the depreciation cycle because it is not. It will just take awhile.
SD Realtor
ParticipantI would say this guys… the more you anticipate steep price drops the longer they will appear to take. I have two different price shoppers in Mira Mesa and one of them is very astute. Together we have witnessed first hand the effect of the lowest priced REO sales going into pending status very quickly. The most successful REOs have been those that have been priced aggressively and found a demand which has been not altogether surprising to me. What is good is that in the long run these will all form the new comps for homes that hit the market a few months from now. The bad thing is that both my Mira Mesa clients will need to remain patient for the price range they are shopping in.
As for PB I think that it will lose footing but it will take awhile. The seeds of denial are sown deep in PB. Also I would not take much stock in Realtytrac. One of the problems is that NODs and NOTs that are cured never seem to be reported by Realtytrac for a LONG time. Also short sales that are NODs and have offers on them that are into the lender already are not considered either.
Don’t mistake this post for insinuating that PB is a sanctuary to the depreciation cycle because it is not. It will just take awhile.
SD Realtor
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