Mike Satterlee's Discussions

Definately depends on how the leinholder reports it. I'm working on one now & part of the negotiation is how the lenders are going to report it - they can call it whatever they want. This is all new territory so I'd be careful about making such difinitive proclemations.

Nobody's mentioned Inflation here. I'm no economist but doesn't anyone think that a. we can't have a true recovery without severe inflation and b. that the degree of inflation will ultimately cause home prices to rise?

My experience is that seller's somehow think the market does not apply to their home. If I list a home where the seller is not being realistic - I make sure we have an agreed upon strategy to lower price after a set amount of time. This strategy works well because it allows the seller to learn first hand how brutal the market is and it shows buyers that this seller is ready to negotiate once they lower the price. In working with buyers I find that they are looking for two things, 1. homes that have been on the market for a long time and 2. homes that have had one or more price reductions.