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SD Realtor
ParticipantYes that elusive capitulation… when will it happen… I battle that battle every day in listing appts. At least with the appts I have had, for nicer areas we are NOWHERE close to it. Another year or two of this is what we need. Then I think we will be there.
Thanks for thank you jp!
SD Realtor
ParticipantYes that elusive capitulation… when will it happen… I battle that battle every day in listing appts. At least with the appts I have had, for nicer areas we are NOWHERE close to it. Another year or two of this is what we need. Then I think we will be there.
Thanks for thank you jp!
SD Realtor
ParticipantYes that elusive capitulation… when will it happen… I battle that battle every day in listing appts. At least with the appts I have had, for nicer areas we are NOWHERE close to it. Another year or two of this is what we need. Then I think we will be there.
Thanks for thank you jp!
SD Realtor
ParticipantCurrently the two Silver Pine short sales are as follows. The first one listed at 720k has a 750k offer into the lender but the buyers are tired of waiting and have bailed. LA believes that the lender will accept 720. The other one at a range of 699k up has lender approved sales price at 775. LA moved the asking price down just to get some offers into the lender. There certainly is no hard in submitting lowball offers and trying. Just have patience because if you think you can submit your offer and have a reply back in a few days you are mistaken.
I would agree that 4S will come down. The timing of the depreciation is what is harder to figure out. SD Realtor
ParticipantCurrently the two Silver Pine short sales are as follows. The first one listed at 720k has a 750k offer into the lender but the buyers are tired of waiting and have bailed. LA believes that the lender will accept 720. The other one at a range of 699k up has lender approved sales price at 775. LA moved the asking price down just to get some offers into the lender. There certainly is no hard in submitting lowball offers and trying. Just have patience because if you think you can submit your offer and have a reply back in a few days you are mistaken.
I would agree that 4S will come down. The timing of the depreciation is what is harder to figure out. SD Realtor
ParticipantCurrently the two Silver Pine short sales are as follows. The first one listed at 720k has a 750k offer into the lender but the buyers are tired of waiting and have bailed. LA believes that the lender will accept 720. The other one at a range of 699k up has lender approved sales price at 775. LA moved the asking price down just to get some offers into the lender. There certainly is no hard in submitting lowball offers and trying. Just have patience because if you think you can submit your offer and have a reply back in a few days you are mistaken.
I would agree that 4S will come down. The timing of the depreciation is what is harder to figure out. SD Realtor
ParticipantCurrently the two Silver Pine short sales are as follows. The first one listed at 720k has a 750k offer into the lender but the buyers are tired of waiting and have bailed. LA believes that the lender will accept 720. The other one at a range of 699k up has lender approved sales price at 775. LA moved the asking price down just to get some offers into the lender. There certainly is no hard in submitting lowball offers and trying. Just have patience because if you think you can submit your offer and have a reply back in a few days you are mistaken.
I would agree that 4S will come down. The timing of the depreciation is what is harder to figure out. SD Realtor
ParticipantCurrently the two Silver Pine short sales are as follows. The first one listed at 720k has a 750k offer into the lender but the buyers are tired of waiting and have bailed. LA believes that the lender will accept 720. The other one at a range of 699k up has lender approved sales price at 775. LA moved the asking price down just to get some offers into the lender. There certainly is no hard in submitting lowball offers and trying. Just have patience because if you think you can submit your offer and have a reply back in a few days you are mistaken.
I would agree that 4S will come down. The timing of the depreciation is what is harder to figure out. SD Realtor
ParticipantI would not worry about the pricing differential of a short sale verses a foreclosure. Your question is close to impossible to answer because of the variations. Take an example of short sales that are listed very low in order to simply get a short sale documentation package to the lender. This home you brought up may very well have had some offers on it, and in fact I would be willing to bet they have an offer in at the lender at this moment.
The process of being a buyer of a short sale verses a foreclosure is something you should be cognicent of. Pricing of a short sale verses a foreclosure is something that you really cannot control and to speculate on whether the post trustee sale pricing will be less or more then the short sale pricing may drive you bonkers.
Instead consider the following. In a short sale as a buyer you do get to benefit from getting a disclosure package from the sellers, (although it may be arguable that this package doesn’t amount to much at all) while in an REO you do not. In fact in an REO you will sign a verify comprehensive if not airtight liability release. You buy an REO and you find 20 dead bodies under it and there is nobody you can sue.
What drives people crazy is the open ended nature of a short sale. As we are seeing standard processing times ranging from many weeks to a few months BEFORE your purchase offer gets accepted. Let me repeat that… You see a home you love. It is priced well, you write an offer. It gets accepted by the seller, then sent to the lender… then you sit… and sit… and sit… meanwhile the home is still sitting on the MLS as active. Meanwhile the sellers CAN FIELD OTHER OFFERS and send them into the lender. It drives people batty… Now what happens if you submit your offer, and many weeks later the lender comes back and accepts. However in the meantime you have given up and found another place… You are okay. You are not locked into acceptance by any means because technically your offer is expired. However if they do accept and you are still interested then yahoo… you got your home at a good price… it just takes EXTRAORDINARY patience.
My advice for buyers who offer on short sales… have patience… submit your offers, then forget about the home…. continue to shop around and look around… maybe many weeks down the road you get that call of acceptance and you then can decide. However your buyers agent is powerless.. Your buyers agent CANNOT call the asset manager for instance. Only the listing agent can. It is very frustrating but can be rewarding.
The REO property on the other hand is great because you do get an answer in most cases quickly. However even in some cases the REO may indeed sit while the lender fields offers. I have seen that as well.
SD Realtor
ParticipantI would not worry about the pricing differential of a short sale verses a foreclosure. Your question is close to impossible to answer because of the variations. Take an example of short sales that are listed very low in order to simply get a short sale documentation package to the lender. This home you brought up may very well have had some offers on it, and in fact I would be willing to bet they have an offer in at the lender at this moment.
The process of being a buyer of a short sale verses a foreclosure is something you should be cognicent of. Pricing of a short sale verses a foreclosure is something that you really cannot control and to speculate on whether the post trustee sale pricing will be less or more then the short sale pricing may drive you bonkers.
Instead consider the following. In a short sale as a buyer you do get to benefit from getting a disclosure package from the sellers, (although it may be arguable that this package doesn’t amount to much at all) while in an REO you do not. In fact in an REO you will sign a verify comprehensive if not airtight liability release. You buy an REO and you find 20 dead bodies under it and there is nobody you can sue.
What drives people crazy is the open ended nature of a short sale. As we are seeing standard processing times ranging from many weeks to a few months BEFORE your purchase offer gets accepted. Let me repeat that… You see a home you love. It is priced well, you write an offer. It gets accepted by the seller, then sent to the lender… then you sit… and sit… and sit… meanwhile the home is still sitting on the MLS as active. Meanwhile the sellers CAN FIELD OTHER OFFERS and send them into the lender. It drives people batty… Now what happens if you submit your offer, and many weeks later the lender comes back and accepts. However in the meantime you have given up and found another place… You are okay. You are not locked into acceptance by any means because technically your offer is expired. However if they do accept and you are still interested then yahoo… you got your home at a good price… it just takes EXTRAORDINARY patience.
My advice for buyers who offer on short sales… have patience… submit your offers, then forget about the home…. continue to shop around and look around… maybe many weeks down the road you get that call of acceptance and you then can decide. However your buyers agent is powerless.. Your buyers agent CANNOT call the asset manager for instance. Only the listing agent can. It is very frustrating but can be rewarding.
The REO property on the other hand is great because you do get an answer in most cases quickly. However even in some cases the REO may indeed sit while the lender fields offers. I have seen that as well.
SD Realtor
ParticipantI would not worry about the pricing differential of a short sale verses a foreclosure. Your question is close to impossible to answer because of the variations. Take an example of short sales that are listed very low in order to simply get a short sale documentation package to the lender. This home you brought up may very well have had some offers on it, and in fact I would be willing to bet they have an offer in at the lender at this moment.
The process of being a buyer of a short sale verses a foreclosure is something you should be cognicent of. Pricing of a short sale verses a foreclosure is something that you really cannot control and to speculate on whether the post trustee sale pricing will be less or more then the short sale pricing may drive you bonkers.
Instead consider the following. In a short sale as a buyer you do get to benefit from getting a disclosure package from the sellers, (although it may be arguable that this package doesn’t amount to much at all) while in an REO you do not. In fact in an REO you will sign a verify comprehensive if not airtight liability release. You buy an REO and you find 20 dead bodies under it and there is nobody you can sue.
What drives people crazy is the open ended nature of a short sale. As we are seeing standard processing times ranging from many weeks to a few months BEFORE your purchase offer gets accepted. Let me repeat that… You see a home you love. It is priced well, you write an offer. It gets accepted by the seller, then sent to the lender… then you sit… and sit… and sit… meanwhile the home is still sitting on the MLS as active. Meanwhile the sellers CAN FIELD OTHER OFFERS and send them into the lender. It drives people batty… Now what happens if you submit your offer, and many weeks later the lender comes back and accepts. However in the meantime you have given up and found another place… You are okay. You are not locked into acceptance by any means because technically your offer is expired. However if they do accept and you are still interested then yahoo… you got your home at a good price… it just takes EXTRAORDINARY patience.
My advice for buyers who offer on short sales… have patience… submit your offers, then forget about the home…. continue to shop around and look around… maybe many weeks down the road you get that call of acceptance and you then can decide. However your buyers agent is powerless.. Your buyers agent CANNOT call the asset manager for instance. Only the listing agent can. It is very frustrating but can be rewarding.
The REO property on the other hand is great because you do get an answer in most cases quickly. However even in some cases the REO may indeed sit while the lender fields offers. I have seen that as well.
SD Realtor
ParticipantI would not worry about the pricing differential of a short sale verses a foreclosure. Your question is close to impossible to answer because of the variations. Take an example of short sales that are listed very low in order to simply get a short sale documentation package to the lender. This home you brought up may very well have had some offers on it, and in fact I would be willing to bet they have an offer in at the lender at this moment.
The process of being a buyer of a short sale verses a foreclosure is something you should be cognicent of. Pricing of a short sale verses a foreclosure is something that you really cannot control and to speculate on whether the post trustee sale pricing will be less or more then the short sale pricing may drive you bonkers.
Instead consider the following. In a short sale as a buyer you do get to benefit from getting a disclosure package from the sellers, (although it may be arguable that this package doesn’t amount to much at all) while in an REO you do not. In fact in an REO you will sign a verify comprehensive if not airtight liability release. You buy an REO and you find 20 dead bodies under it and there is nobody you can sue.
What drives people crazy is the open ended nature of a short sale. As we are seeing standard processing times ranging from many weeks to a few months BEFORE your purchase offer gets accepted. Let me repeat that… You see a home you love. It is priced well, you write an offer. It gets accepted by the seller, then sent to the lender… then you sit… and sit… and sit… meanwhile the home is still sitting on the MLS as active. Meanwhile the sellers CAN FIELD OTHER OFFERS and send them into the lender. It drives people batty… Now what happens if you submit your offer, and many weeks later the lender comes back and accepts. However in the meantime you have given up and found another place… You are okay. You are not locked into acceptance by any means because technically your offer is expired. However if they do accept and you are still interested then yahoo… you got your home at a good price… it just takes EXTRAORDINARY patience.
My advice for buyers who offer on short sales… have patience… submit your offers, then forget about the home…. continue to shop around and look around… maybe many weeks down the road you get that call of acceptance and you then can decide. However your buyers agent is powerless.. Your buyers agent CANNOT call the asset manager for instance. Only the listing agent can. It is very frustrating but can be rewarding.
The REO property on the other hand is great because you do get an answer in most cases quickly. However even in some cases the REO may indeed sit while the lender fields offers. I have seen that as well.
SD Realtor
ParticipantI would not worry about the pricing differential of a short sale verses a foreclosure. Your question is close to impossible to answer because of the variations. Take an example of short sales that are listed very low in order to simply get a short sale documentation package to the lender. This home you brought up may very well have had some offers on it, and in fact I would be willing to bet they have an offer in at the lender at this moment.
The process of being a buyer of a short sale verses a foreclosure is something you should be cognicent of. Pricing of a short sale verses a foreclosure is something that you really cannot control and to speculate on whether the post trustee sale pricing will be less or more then the short sale pricing may drive you bonkers.
Instead consider the following. In a short sale as a buyer you do get to benefit from getting a disclosure package from the sellers, (although it may be arguable that this package doesn’t amount to much at all) while in an REO you do not. In fact in an REO you will sign a verify comprehensive if not airtight liability release. You buy an REO and you find 20 dead bodies under it and there is nobody you can sue.
What drives people crazy is the open ended nature of a short sale. As we are seeing standard processing times ranging from many weeks to a few months BEFORE your purchase offer gets accepted. Let me repeat that… You see a home you love. It is priced well, you write an offer. It gets accepted by the seller, then sent to the lender… then you sit… and sit… and sit… meanwhile the home is still sitting on the MLS as active. Meanwhile the sellers CAN FIELD OTHER OFFERS and send them into the lender. It drives people batty… Now what happens if you submit your offer, and many weeks later the lender comes back and accepts. However in the meantime you have given up and found another place… You are okay. You are not locked into acceptance by any means because technically your offer is expired. However if they do accept and you are still interested then yahoo… you got your home at a good price… it just takes EXTRAORDINARY patience.
My advice for buyers who offer on short sales… have patience… submit your offers, then forget about the home…. continue to shop around and look around… maybe many weeks down the road you get that call of acceptance and you then can decide. However your buyers agent is powerless.. Your buyers agent CANNOT call the asset manager for instance. Only the listing agent can. It is very frustrating but can be rewarding.
The REO property on the other hand is great because you do get an answer in most cases quickly. However even in some cases the REO may indeed sit while the lender fields offers. I have seen that as well.
SD Realtor
ParticipantJosh that is the point. The government can’t do a bailout. Note I am making these postings not to crow that the decline will stop, or that these are good ideas. All this is doing is delaying things, is postponing inevitable problems, and most important preserving solvency of all the investors of funds that people don’t seem to want to believe are important.
In essence, our government is willing to spend whopping amounts of money to try to keep things afloat. The foreclosures don’t mean a thing. What is readily transparent to most of us here is not to pretty much everyone. That is, the reason things need to be preserved is more then likely due to the fact that there will be some pretty ugly solvency issues with many many investing entities that most of us didn’t realize invested in these vehicles we always talk about.
SD Realtor
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