short sale: The banks are hurting themselves and hindering market recovery - 03/31/09 12:19 AM
As most buyer's agents know, the bank selling a home in foreclosure will often take a cash offer that is less than an offer which contains a financing contingency. That may make sense, and may seem harmless enough, but let's look at it in more detail.
By taking a cash offer, … (0 comments)
short sale: Maximum credit to FHA buyer on Countrywide short sale? - 02/14/09 02:02 PM
Does anyone know from dealing with Countrywide in short sales(where they are the first lien holder on the seller's home) if there is a maximum closing cost credit they will allow to an FHA buyer? I have heard 3%, but I just want to confirm. … (0 comments)
short sale: Short sale turns to bank owned. Will the bank come out ahead? - 07/24/08 04:26 PM
I had a buyer offer $360,000 4 months ago for 1706 Calle Platico in Oceanside's Rancho Del Oro neighborhood. We were beat out one month later by an offer at $378,000. Today the bank lists the home as an REO at an asking price of $325,000. Will multiple offers drive the price … (0 comments)
short sale: Third party simultaneous close on a short sale - 07/24/08 02:51 PM
Have any of you been involved or heard about doing a third party simultaneous close on a short sale?
I was contacted today by an investor who has the following business plan:
1. Find potential short sale sellers2. Investor writes a low offer to be submitted to the lender(s) along with the … (4 comments)
short sale: Arrowood Oceanside New Home Sales and Foreclosures Dominate Sales - 06/02/08 03:25 AM
Oceanside's Arrowood community, including KB Homes' Windham and Buckingham tracts, is an area of homes less than 5 years old with new construction still ongoing. Unfortunately, this mix has caused it to have some of the biggest price drops (from the peak) that we have seen in Oceanside.
As the inventory of bank … (0 comments)
short sale: Real estate agents own properties in foreclosure or are short sales - 02/20/08 10:38 PM
Since I've been doing BPOs(broker price opinion...kind of like a mini-appraisal on properties in financial distress) in the north San Diego County area, it has become increasingly obvious that a number of real estate agents in the area have homes with a notice of default(behind on their payments), or are attempting short … (6 comments)
short sale: Signs of hope for price stabilization in Oceanside? - 01/05/08 02:44 AM
The inventory of Active listings in Oceanside's Rancho Del Oro tract home community of about 1700 homes currently sits at about 48 single family detached homes. In August of 2007, that number was about 80 and for Jan-May 2007 it stood at about 55 homes, when sales were brisk with prices … (1 comments)
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As most buyer's agents know, the bank selling a home in foreclosure will often take a cash offer that is less than an offer which contains a financing contingency. That may make sense, and may seem harmless enough, but let's look at it in more detail.
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