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buyers market: It's Not A Buyers Market! It's Not A Sellers Market! It's An Investors Market! - 01/12/11 05:26 PM

 
 
"Cash offers only""No FHA Offers Considered""30% Or More Down Payment""Looking For Cash Offer""Fixer, As-Is, Cash Offers Preferred"
This terminology is really becoming more and more prevalent in my market. It seems that short sales, bank-owned, flippers...even equity sellers are making it clear in the listing, or through their agent, that they are wanting cash offers.
I understand...I love them too. Quick sales, fewer problems (no appraisals, lender requirements). A cash buyer can buy a home that has HOA issues, leaky roofs and missing carpets.....lenders won't lend on some of these homes.
The low listing prices are also very … (22 comments)

buyers market: Needed!!! Loan Officers, Realtors, Clients Without Rose Colored Glasses - 03/07/10 10:39 AM
I'm afraid this might turn into a rant, so I'm going to try and keep away from that, ALTHOUGH THIS DRIVES ME CRAZY. Oops...I drifted :). Anyone who did not start their career in the last 12 months remembers the "good old days." Something like this?
Loan Officer "well the buyer doesn't have any assets or job, but we can work with that, their FICO is over 620"
Realtor "no problem my buyer will pay $10,000 more than the last appraisal"
Buyer "Can I use the same stated income/stated asset loan to buy the house next door to flip"
Remember? I … (9 comments)

buyers market: Equity Sellers.....Still a Buyer's Market on Those - 06/04/09 09:50 AM
We've seen lots of blog posts regarding the activity of our market. Every phone call made to short sale listings is met with "we have many offers." For the past few months, it seems all the listings are either short sales or bank owned properties and they all have had multiple offers. With so few sellers with equity listings....have we all assumed they were getting the same degree of activity? I'm not sure that they are!
I took a couple out to look for homes on Sunday and for the first time in years, most of the listings were sellers with equity. Of … (2 comments)

buyers market: Sellers....More And More Are Jumping Into The Market, But Should They? - 05/10/09 03:51 PM
We might be seeing a short spurt of increasing home values. I'm beginning to see a number of listings are those of  "sellers with equity." Throughout most of last year homes were either bank owned or short sales. I think that the slightly increasing sales price vs list price is encouraging sellers to test the waters.
I'm concerned about this for my potential sellers.
There are many reasons why someone would want to sell....even in a down market. This is a great time to buy a bigger home or an ocean view home. The more expensive priced homes are still fairly slow … (2 comments)

buyers market: Buyer's Learning Curve.....how to buy in a fast market. - 05/03/09 10:37 AM
We are still in a buyer's market in the sense that prices are low, supply is high and there are great interest rates available. But in my multiple offer market...the process has changed dramatically. It's becoming critical that buyers move fast....because the houses are moving fast.
Friday I took a couple out to look at homes who are more comfortable moving slowly....which is understandable. We did see one "turn-key" home they just loved. It was the first home they really felt worked for them. The price was right, the street was perfect, the schools were good! It was vacant and being … (14 comments)

 
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