I would like to share an experience with you that happened today that made me scratch my head and ask myself, what was Bank Of America thinking? I have a Buyer that I am working with and we put an offer on a Short Sale, yes I know there is nothing short about a short sale. This particular short sale should have been a slam dunk, considering that Bank Of America (the first lien holder) was not going to lose a dime, just the second and third were losing. The second would have still got something and of course the third was out of luck all together. Now we started this process on October 6, 2009. Now here we are January 14, 2010 and we were told earlier this week, that the auction that was scheduled  for today was going to be postponed. I get a call this morning from the listing agent that the home had been sold at auction, that in itself was not the worst news, that came when the agent told me that the home sold for almost $50,000.00 less than what our offer was. Now you can call me crazy, but wouldn't that  be considered a pour business decision? You know I thought I heard somewhere that banks were hurting. I truly believe they are hurting because if this is how they do their business, then maybe instead of bailing these banks out, we should have just let them fail. This makes you wonder how many of these deals do they just toss $50,000.00 or more out the door. The purpose of this blog is hopefully people will read this and more people people will share the experiences like this and maybe if we are really lucky, our government will crack down on these banks and apply some really stringent  rules and regulations on these banks. It would not even hurt to apply some penalties on these banks.

 

Don't Be A Fence Sitter, The Time To Buy Your Dream Home Is Now.
12/11/2009
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This Blog started with a simple e-mail that I receive from another Real Estate Professional. The e-mail made perfect since to me and what she was saying and the point she was trying to get across. And the point she was trying to get across is, All… more
The House Passes The New Tax Credit Extension For Payson, Utah And…
11/06/2009
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I felt like this was worth a second look at, The New Tax Credit extension for Payson, Utah and the rest of the country, the news just keeps getting better. Lets just keep beating this dead horse, we might just get lucky and revive him. WASHINGTON,… more
The New And Improved Revised Tax Credit For Payson, Utah And The Rest…
11/06/2009
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I found this article from another site and thought that it was an awesome article and gave all of the info. I was looking for and I wanted to share it with my readers. It looks like the First Time Home Buyer Tax Credit may be sticking around a… more
Some Interesting Facts About Our Real Estate Market In Payson, Utah.
10/29/2009
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You hear everyday how bad the Real Estate Market is, so I decided that I wanted to see for myself and then share my results with my readers. I went to the (WFRMLS) Wasatch Front Regional Multiple Listing Service's web-site and then the fun began. My… more
Buyers Beware of Buying For Sale by Owners in Payson Utah
08/26/2009
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Here are a couple of things for Buyers to look out for when purchasing Real Estate (FOR SALE BY OWNER) in Payson Utah. 1. When you purchase a piece of Real Estate that is for sale by owner, a Buyer should always ask for a copy of the county tax… more
Finding The Right Real Estate Agent For You in Payson Utah
08/13/2009
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Well in order for me to be able to write on this subject I had to take off my Realtors hat and put on my home buyers hat. I would want a Real Estate Agent that works hard in his/her profession full time. This insures me as a buyer or seller that… more
Real Estate Market Report for Payson Utah
08/13/2009
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Today’s Market Report For Payson Utah Here is a quick market report on homes selling in Payson, Utah. From February 1, 2009 through August 6, 2009 there have been (73) Single Family Homes sold in Payson, Utah and (9) Condos sold in… more
Selling Real Estate Payson Utah
08/13/2009
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Here are a few more tips for preparing your home to SELL. Add Some Life: Living plants, not artificial, make any home come to life. Consider staging plants throughout the house. Create a Mood: It’s possible to create a mood, even if you… more
Tips to Preparing Your Home to Sell in Payson Utah
08/13/2009
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Here are a few tips for preparing your to sell. 1. Make it Spacious: Consider what you can do to make the house seem more spacious. You can start by finding a temporary storage unit or an out of the way location to store any items. Then begin… more
 
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Gary W. Jones

Payson, UT

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Address: 648 N. 900 E. Ste.#9, Spanish Fork, Utah, 84660

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