Via robert highsmith (west usa realty ):

I am sorry to bring this to your attention    but if we can  get the REO assett managers to turn off there CHEECH AND CHONG RERUNS  for awhile,  we might  get more  reposessions ,  bank owned ,  foreclosed ,and walkaway  homes sold.HOW ,do you ask ?, for example   here in phoenix,  arizona i  got another   bank owned REO   from an assett  mananger  this week  and  low and behold , same nonsense .  They  asked to list  it for only  $57,500  on a nice 3bed   2 bath ,with a pool   repo home .  SO  let the bidding begin   and really screw with all the  good realtors  with    normal clients  who need a  affordable home.To START WITH I WILL GET  MAYBE 20- 30  offers   and have all  20 -30 realtors asking  the same questions ,   where are we in price ,  are we highest  , did  they accept  my low ball  bottom feeder bid,  whats  your highest and best offer so far ?,so we,   reo listing real estate agents are bombarded with  calls  daily ,   when all the assett managers  need to do is list it a  a fair market  value  , eliminating  the  bidding frenzy. Have you submitted a bid  on behalf of your client , only to be held captive  by another realtor  who   will not dilvudge  where your  bid  is at, or they  have not selected a bid yet ,  timewise   it can take  you  2-3  weeks  to find out  your $65,000  bid was trumped by a highest and best offer  of say  $85,000    a fair market value .  SO  FOR YOU  AGENTS  WORKING  BOTH  BUYERS AND SELLERS  IN THE REO   arena  ,  good luck  on a back to normal transaction. Phoenix,  scottsdale ,      glendale ,  and  mesa  arizona are all going  thru   the bong  from hell  syndrome 

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2 Comments on WARNING do not read : 911 realtor ask REO MANAGERS TO PUT THE BONG DOWN

NOV
06
Outside Blog

Sounds like the asset manager came from San Francisco they have been operating up there that way to purchase for years and years.

7:57am • #1
Outside Blog

Don, What a nightmare to go through for the sale of an $85,000 property. Unfortunately it affects everyone involved for a less than likely chance of winning the lotery. You are right. Time wasted that could be spent selling another property.

8:02am • #2

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Donald Bradbury, 610-952-3578 REALTOR Bucks County PA

Quakertown, PA

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The Bradbury Team at Coldwell Banker Heritage

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