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I quickly turned this one in to the mls, the list agent responded by putting it at $176K, typo, yeah right! Then on zillow they posted it at $214K. I see this frequently with this Listing Agent. Yes, it creates a flurry of offers, now know as bidding wars. First houses in the RE bubble are listed high with a over the top prices then are doubling in prices and sold with subprime loans to secure the mortgage.
The next scam is listing the house way below market value and getting multiple offers. This company also outscorces to India. You must go through a web site to place a bid and then wait. You can call in but trying to understand what they are saying or are trying to tell you is almost impossible. The list agent does not answer the phone period, and has listings covering all of So. California. Usually the homes are in disgusting condition, flithy, beat up and sold as is. No doubt he is doing minimum to sell these beasts, sometimes only one or two pictures, just enough to bait the hook.
This market gives new insight to "Buyer Beware". And makes the rest of us Realtors look bad! Funny how most servicers really do try to keep values realistic yet some are just into lost leaders, get rich quick and scaming the buyers.
Worse yet is when I try explaining this to me buyers. Really can't we just go full disclosure and stop playing games with peoples minds?
Allison James Homes & Estates
Realtor simple guideline to guesstimate a Homes values! Comparing apples with oranges? How to set values for embellishments? Do you think the old adage of Value equals Location, Location, Location, is true? Views, Pools, special interest additions can add desirability, and then Granite Counters, Travertine flooring, condition, square footage and any embellishments, upgrades, updates you can add to a property is worth 60-70% of the cost. This value will also be depreciated over time. Example would you consider if a twenty year old solid oak cabinette's value even in good condition is equal in value to cabinets in the newer current color, or are they? Objective would be desirability.
Location is the basis for value. Like Homes within a one mile radius share values, and can be evaluated by sales per square foot within the last 3+ months. Pulses
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.