#JP Morgan Chase Bank, A Square Peg in a Round Hole?
What you say?
#Chase Bank, history lesson. I am 55 years old, grew up in the Encinitas area (North San Diego Coastal) and started in real estate in 1984. I have worked distressed properties each down cycle since than, 3. I have performed somewhere in the neighborhood of 900 BPOs for lenders, servicers. I work in real estate full time. I see and recognize market shifts, trends, buyer, seller thoughts about the market. The media is generally behind the curve, price or otherwise, thus the public is generally behind the curve too perhaps 3-6 months in many cases.
#Chase Bank, I am sorry you sold a home at auction 2.5 months ago for $355,000 west of I-5 on a quarter acre. You want a BPO? #Chase Bank, do you want what the market is yielding today in Encinitas on the open market? #Chase Bank, why do you make me post values on the BPO that don't exist any longer? The most affordable single family home available for sale on the market today is $799,000. #Chase Bank, yes that is over 35% higher than your sale of $355,000 But how do you want me to list 3 like homes of similar size, age, condition, bedroom count etc within 35% of your $355,000 west of I-5 if there aren't any for sale. Besides, if an agent listed a home in the current market near $355,000, I think they would be in gross violation of the listing contract and the code of ethics.
#Chase Bank, the square peg will not fit in the round hole! #Chase Bank, I spend to many hours trying to make the numbers fit into your damn hole. You want the truth? #Chase Bank, I don't think you can handle the truth! Let me submit the real real estate picture to you for consideration!
#JP Morgan Chase Bank, A Square Peg in a Round Hole?
Sincerely,
Michael Blue
Comments(8)