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reos: Are the Banks getting their wish of taking over Real Estate? - 02/10/10 12:36 PM
Remember a few years back when the banks kept pushing and pushing to enter real estate? We legislated this away, but look at what's really happening now.
In heavy foreclosure areas, banks are the king of the hill. They don't write counteroffers, they issue ultimatums. They work in their own world, on their own timetable, and do exactly what they please. Rules come and go.
In the under $300K market here, we've got 80% of the inventory either REO or short sales, so we deal with banks all the time. They have effectively "taken over" real estate in this part … (6 comments)
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reos: Anyone heard of 2nds buying hedge funds so they get paid big $ if foreclosed? - 12/01/09 02:58 PM
My buyers have paid for 2 appraisals, waited patiently for 3 months, the listing agent has worked her tail off trying to get the 2nd to agree in writing to a short sale AND has successfully gotten 3 extensions from the 1st while the 2nd has either: A) not responded at all, or B) kept wanting more money, but wouldn't put any amount in writing.
Listing agent asked them what they really did want and negotiator told her they'd get a lot more money if the 1st forecloses and they (the 2nd) collect on the PMI insurance. What?!? My lender just … (3 comments)
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reos: Econ 1A -- your Real Estate Refresher Course in 7 Simple Steps - 11/16/09 03:13 PM
Don't get stuck in Fantasyland! Real Estate always follows a few basic economic truths. Honor these realities, and you'll win what you want. Here's a 7-step quick tour through real estate economics. Pass, and you can have a fighting chance to get the house you want.
1. Supply and Demand: When there are more buyers out there than desirable homes available-- you get A) multiple offers, B) offers over asking price. This is what's happening now.
2. Location, location, location: Real estate is always local in nature, and #1 above is what's occurring in most of San Diego. If you read … (2 comments)
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Barb Fischer
La Mesa,
CA
More about me…
RD Brown Real Estate
Address: 2132 Boulders Rd , San Diego, CA, 91901
Office Phone: (619) 461-2244
Cell Phone: (619) 339-1396
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