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Nobody Likes Being in Second Place: Possible Short Sale in Silver Lakes

By Charita Cadenhead

Real Estate Agent with eXp Realty

October 14, 2010 04:55 AM

Nobody Likes Being in Second Place: Possible Short Sale in Silver Lakes

Nobody likes being in second place but when you've got a home like this that's priced to sell quickly at the bargain basement price of just $265,000, you wouldn't even want to risk not being in position.

This home showed well right of the bat. Within the first week, several buyers had expressed interest, but waited just a bit too late and let someone slip in with an offer and acceptance by the seller.

We're just waiting for the bank's okay, but you just never know how that will go. Don't think for one minute that I'm worried or anything like that, but if you are one to recognize a steal of a deal and have the patience of Job, I'm just sayin'........................

Nobody likes being in second place but................

2829 Aster Lake Road, Bessemer, AL 35022

2829 Aster Lake Road

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Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Charita, Those darn silly buyers who sit and wait and miss the opportunity of a lifetime! I wish you success with the short sale.

Oct 14, 2010 04:59 AM

Charita Cadenhead

eXp Realty - Birmingham, AL

Serving Jefferson and Shelby Counties (Alabama)

Kathleen I know right? I don't even like to say "well we have someone else who is supposed to be submitting an offer" or "there was another buyer that expressed an interest." I hate it when people say that to me because you never know when it's true or not. But even when you tell them, they sometimes still take their own sweet time.

Oct 14, 2010 05:05 AM

Cinnamon Wright

Wilmington Real Estate 4U 910.547.1446 - Wrightsville Beach, NC

Assistant to Tish Lloyd

That's a heck of a house for $265,000! I'm confident that you will get the short sale through, but who wants to miss out on the opportunity of a lifetime? Call Charita! She can help anyone find the home of their dreams in Birmingham, AL!

Oct 14, 2010 05:55 AM

Craig Rutman

Helping people in transition - Cary, NC

Raleigh, Cary, Apex area Realtor

OK, I had to re-read the asking price for this home! That's just an amazing value. I hope you get multiple offers and a gazillion qualified and anxious buyer leads from this one Charita!

Oct 14, 2010 07:22 AM

Jane Peters

Home Jane Realty - Los Angeles, CA

Los Angeles real estate concierge services

This is a beautiful home, Charita. And I would definitely want to be in first place.

Oct 14, 2010 08:27 AM

Carla Muss-Jacobs, RETIRED

RETIRED / State License is Inactive - Portland, OR

Charita . . . you do your city a service by promoting it's affordable living, and with you as a realtor of such great integrity, you do both city and clients proud!!

Oct 14, 2010 09:26 AM

Charita Cadenhead

eXp Realty - Birmingham, AL

Serving Jefferson and Shelby Counties (Alabama)

CA I'm "banking" on getting this short sale closed. It was priced right from the start.

You read it right Craig. It's a spectacular home. Heck if I could afford it, I would have put in an offer.

Jane first place is always best, but no kidding, I'd take second in a hearbeat on this one.

Thanks Carla. I appreciate the thought and the compliment.

Oct 14, 2010 09:33 AM

Lisa Hicks

Hoang Realty - Augusta, ME

Serving Central and Southern Maine

Charita - like Craig, I had to reread your post to check the price. What a gorgeous house! I can't believe any buyer passed it up at that price.

Oct 14, 2010 11:06 AM

Christine Pappas - REALTOR®

eXp Realty - Willoughby, OH

When You’re Ready To Move, I’m Ready To Help

Charita, that will be the one that got away - regret city! Lucky for the one who recognized a great buy!

Oct 14, 2010 03:20 PM

Tish Lloyd

BlueCoast Realty Corporation - Wilmington, NC

Broker - Wilmington NC and Surrounding Beaches

Good Grief -- and me with no money!!! I would certainly consider being the back-up contract on this, if I were in your market!!!

Oct 14, 2010 03:50 PM

Simon Mills

Mills Realty - Toluca Lake, CA

$265,000...seriously....I'm packing up the family and moving to Alabama. In So Call that house is at least $1,500,000 if not more.

Oct 14, 2010 05:59 PM

Endre Barath, Jr.

Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA

Realtor - Los Angeles Home Sales 310.486.1002

Charita, sometimes buyers need to be "seasoned" too bad they have to miss out on one like this. Even if they are in a back up position the way banks take forever to respond the first one might walk away and cancell and 2nd place becomes first place.

Oct 14, 2010 06:15 PM

Charita Cadenhead

eXp Realty - Birmingham, AL

Serving Jefferson and Shelby Counties (Alabama)

Lisa, you know how it is: They want to think about it and they think themselves rigtht out of a house.

Christine if you have ever had that feeling, you definitely know what it's like (not pretty at all).

Tish I know, right?

Simon there are some homes that I list and then I always think, "I wonder what Californians would think about this price" or "how would this price compare in California?"

Endre that's exactly what I'm saying. You just never know.

Oct 14, 2010 09:59 PM

Ann Allen Hoover

RE/MAX Advantage South - Hoover, AL

CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

I KNEW someone would snatch this us quickly! I hope the bank will give you an answer soon!

Oct 15, 2010 05:30 AM

April Hayden-Munson

Brookfield, WI

Brookfield Wisconsin Real Estate

Gorgeous place, hope all goes well with th e bank and you get it sold, sold, sold!

Oct 17, 2010 02:41 AM

Beena Shah

Keller Williams Realty-Hoover - Birmingham, AL

I am working with a buyer on a short sale myself... Buyer and I both are about to lose our patience. Looks like bank is not in any hurry to make their decision. This would be their 4th offer. And if they don't act fast, they could lose this buyer too. You know what happens when next and next and next offer comes...It is always lower then previous, not to mention, even the price on the property drops every so often. I will be watching your progress on this deal closely as you are representing seller. Keep us informed on what happens next.

Oct 19, 2010 04:54 PM

Charita Cadenhead

eXp Realty - Birmingham, AL

Serving Jefferson and Shelby Counties (Alabama)

Beena, yes I definitely know about the price drops and the multiple offers coming after the rejection of each previous offer. So very unneccessary. I will definitely post the follow up on this deal.

Oct 19, 2010 11:12 PM

Beena Shah

Keller Williams Realty-Hoover - Birmingham, AL

Do you have any update on this? My short sale is making some progress I guess... I am representing buyer, listing agent is having to send BPO again and they are doing another appraisal on it too. Seller was even sent HUd by listing agent's closing attorney which they did not reject, We just don't know when they will give us green light to go ahead and close. Tell me something encouraging about your deal.

Nov 10, 2010 01:29 PM

Charita Cadenhead

eXp Realty - Birmingham, AL

Serving Jefferson and Shelby Counties (Alabama)

Surprisingly it's a BOA short sale and it's been going pretty smoothly. Closing date is scheduled for Dec 6th

Nov 10, 2010 01:33 PM

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