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February 22, 2008 at 10:34 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158339February 22, 2008 at 10:34 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158348
SD Realtor
ParticipantCouldn’t agree more Rustico. Alot of times though it sucks because the listing agent doesn’t have a clue of whether the lender will approve the short sale. In alot of cases as well, the peskiness of the listing agent will make a big difference. I have been nagging and nagging and nagging the asset manager for a short I have listed for months on in quite often. I am always nice and kiss his ass. It does indeed look like the approval will happen. However I think in alot of cases listing agents give up on the listing even when an offer is in… and they just don’t do squat.
Anyways you covered it well. For buyers I am working with on shorts, I just tell em, submit the offer, then basically put in a mental closet. Move on to other properties. Then if it happens all the better. Make enough offers and one will come through. Also not to worry about being obligated to oblige if the offer is accepted months later. You can always get out of it via any of the contingencies.
SD Realtor
February 22, 2008 at 10:34 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158420ParticipantCouldn’t agree more Rustico. Alot of times though it sucks because the listing agent doesn’t have a clue of whether the lender will approve the short sale. In alot of cases as well, the peskiness of the listing agent will make a big difference. I have been nagging and nagging and nagging the asset manager for a short I have listed for months on in quite often. I am always nice and kiss his ass. It does indeed look like the approval will happen. However I think in alot of cases listing agents give up on the listing even when an offer is in… and they just don’t do squat.
Anyways you covered it well. For buyers I am working with on shorts, I just tell em, submit the offer, then basically put in a mental closet. Move on to other properties. Then if it happens all the better. Make enough offers and one will come through. Also not to worry about being obligated to oblige if the offer is accepted months later. You can always get out of it via any of the contingencies.
SD Realtor
ParticipantThius is a good thread. Very intelligent posts based on alot of thorough analysis. My quick two cents on a comparison between FBR and SL from a depreciation standpoint is that I really do feel SL is poised for a much higher fall then FBR. I think there is alot of speculative purchases in SL (alot by realtors/brokers) that will start to fall apart over the next few years. FBR just has so much old money and has alot more equity. You guys who have a few years to hang loose will possibly find substantial price cuts in SL. Raptor keep up the great work. If you never find a place you have done a great service in all of your legwork.
SD Realtor
ParticipantThius is a good thread. Very intelligent posts based on alot of thorough analysis. My quick two cents on a comparison between FBR and SL from a depreciation standpoint is that I really do feel SL is poised for a much higher fall then FBR. I think there is alot of speculative purchases in SL (alot by realtors/brokers) that will start to fall apart over the next few years. FBR just has so much old money and has alot more equity. You guys who have a few years to hang loose will possibly find substantial price cuts in SL. Raptor keep up the great work. If you never find a place you have done a great service in all of your legwork.
SD Realtor
ParticipantThius is a good thread. Very intelligent posts based on alot of thorough analysis. My quick two cents on a comparison between FBR and SL from a depreciation standpoint is that I really do feel SL is poised for a much higher fall then FBR. I think there is alot of speculative purchases in SL (alot by realtors/brokers) that will start to fall apart over the next few years. FBR just has so much old money and has alot more equity. You guys who have a few years to hang loose will possibly find substantial price cuts in SL. Raptor keep up the great work. If you never find a place you have done a great service in all of your legwork.
SD Realtor
ParticipantThius is a good thread. Very intelligent posts based on alot of thorough analysis. My quick two cents on a comparison between FBR and SL from a depreciation standpoint is that I really do feel SL is poised for a much higher fall then FBR. I think there is alot of speculative purchases in SL (alot by realtors/brokers) that will start to fall apart over the next few years. FBR just has so much old money and has alot more equity. You guys who have a few years to hang loose will possibly find substantial price cuts in SL. Raptor keep up the great work. If you never find a place you have done a great service in all of your legwork.
SD Realtor
ParticipantThius is a good thread. Very intelligent posts based on alot of thorough analysis. My quick two cents on a comparison between FBR and SL from a depreciation standpoint is that I really do feel SL is poised for a much higher fall then FBR. I think there is alot of speculative purchases in SL (alot by realtors/brokers) that will start to fall apart over the next few years. FBR just has so much old money and has alot more equity. You guys who have a few years to hang loose will possibly find substantial price cuts in SL. Raptor keep up the great work. If you never find a place you have done a great service in all of your legwork.
SD Realtor
ParticipantRay/Wanttosell – The highest number of closed escrows are typically March – June. Note that statistically this is when the most closings are. So you really have to back up at least 30 days meanings that in a given year the best time to get your house on the market is February – April.
So the seasonal bump in activity is ALWAYS in the spring. Things start to slow a little in May and by June/July things slow down.
SD Realtor
ParticipantRay/Wanttosell – The highest number of closed escrows are typically March – June. Note that statistically this is when the most closings are. So you really have to back up at least 30 days meanings that in a given year the best time to get your house on the market is February – April.
So the seasonal bump in activity is ALWAYS in the spring. Things start to slow a little in May and by June/July things slow down.
SD Realtor
ParticipantRay/Wanttosell – The highest number of closed escrows are typically March – June. Note that statistically this is when the most closings are. So you really have to back up at least 30 days meanings that in a given year the best time to get your house on the market is February – April.
So the seasonal bump in activity is ALWAYS in the spring. Things start to slow a little in May and by June/July things slow down.
SD Realtor
ParticipantRay/Wanttosell – The highest number of closed escrows are typically March – June. Note that statistically this is when the most closings are. So you really have to back up at least 30 days meanings that in a given year the best time to get your house on the market is February – April.
So the seasonal bump in activity is ALWAYS in the spring. Things start to slow a little in May and by June/July things slow down.
SD Realtor
ParticipantRay/Wanttosell – The highest number of closed escrows are typically March – June. Note that statistically this is when the most closings are. So you really have to back up at least 30 days meanings that in a given year the best time to get your house on the market is February – April.
So the seasonal bump in activity is ALWAYS in the spring. Things start to slow a little in May and by June/July things slow down.
SD Realtor
ParticipantHi Double –
Yep they closed at 760,500 as a short sale. Unfortunately that is well above the 606k that they paid for the home back in 2003.
Also more news that has irritated me as a potential buyer…The Riesling home that was at 695k-750k has been pending for awhile now. (That is the Cookie Lee lady) and the home in my cul de sac also went pending awhile back at 720k-770k. The activity that we have seen this spring was something that I 100% did expect and even predicted. Yet I am pretty sure that by the beginning of summer the depreciation will continue.
SD Realtor
ParticipantHi Double –
Yep they closed at 760,500 as a short sale. Unfortunately that is well above the 606k that they paid for the home back in 2003.
Also more news that has irritated me as a potential buyer…The Riesling home that was at 695k-750k has been pending for awhile now. (That is the Cookie Lee lady) and the home in my cul de sac also went pending awhile back at 720k-770k. The activity that we have seen this spring was something that I 100% did expect and even predicted. Yet I am pretty sure that by the beginning of summer the depreciation will continue.
SD Realtor
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