Profile picture for cleve.shirley

48 offers

This isn't much of a discussion...just thought it was interesting to share. One of my agents submitted an offer on behalf of his clients (bank owned listing). He learned that he lost out - to one of forty-eight offers on the property!
Further evidence that banks are pricing homes to sell!
  • February 02 2009 - Clairemont Mesa
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Answers (14)

Yup - it's different than it was in the early '90s.  Banks have learned from eBay and the like - price it low and let the buyers bid it up.  It works to thier advantage and I don't blame them.  Plus, it gets the bad inventory out of the system faster!
  • February 04 2009
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It's also a sign that the market is changing again. I mean, 1/2 year ago, there weren't 48 offers on a property and now, there are, those are 48 potential buyers! People are out there buying, good news for the industry!
www.oliverindra.com
  • February 17 2009
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Profile picture for interested_observer
Can you provide a link to the property you're referring to or at least let us know what the bank was asking originally and what the property ultimately sold for?
  • February 17 2009
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Profile picture for Jon Petersen
thats the way its been in so cal. I had a friend who had the same situation. There were 14 offers on mine after 3 dom.
  • February 17 2009
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Profile picture for Dennis Gergen
I get suspicious when realtors or agents make what could be self serving statements,especially in times when it may be more difficult to make a living,
  • February 18 2009
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Profile picture for Kaye Norenberg
The house across the street went into foreclosure and eventually ended up in auction.  One person turned up at the auction.  I can't see any big turn around here!
  • February 18 2009
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My buyers have to submit an offer sight unseen just to have a chance at our offer being considered.  The all cash buyers (investors) are beating the first time home buyers every time.  It is really hard to get clients a home.
  • June 19 2009
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haha...

if you price a house to sell guess what ....IT WILL SELL!

its the sellers that are trying to get even current market value that cant get any takers.
  • June 19 2009
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10-15 offers on average for houses under $200K, in Reno NV. Above $200K the story is very different and houses are moving like sludge.
  • June 19 2009
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"Trust me what Im telling you!  You don't need to look at the books!"




 
  • June 19 2009
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"Trust me !  Your investment is safe with me"


 





 
  • June 19 2009
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"At the NAR, we have the publics interest at heart"..


The NAR wields substantial power as a lobbying organization on behalf of agents and brokers; in 2005, NAR had the largest Political Action Committee in the United States. According to the Center for Responsive Politics, the association is the United States' third-largest donor to political campaigns, having given since 1990 more than US$30 million. Of this sum, an average of 47% has gone to Democrats and 53% to Republicans. Key political issues for the group revolve around federal regulation of the financial services industry.



 
  • June 19 2009
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Profile picture for space_acer
"The all cash buyers (investors) are beating the first time home buyers every time."

Near a depression, skimming off a deep recession!  GDP down, borrowing by banks (who got burnt by RE) down, unemployment up, RE investors declaring bankruptcy, and all of sudden we have investors sprouting up with cash!

Talk about a resurrection of the dead ! 



 



 
  • June 19 2009
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True
  • June 22 2009
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