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