I haven't logged on in awhile, so sitting at my Open House, I thought it'd be a good time to play catch up and read some blogs and post some while I was at it.
It's currently 9 degrees in Michigan and it's freezing cold, especially with the wind blowing at hurricane force! Ok, I'm exaggerating, but it's close enough! I'm at 4140 Crystal Creek in Ypsilanti, MI today. A beautiful 3 bed, 2.5 colonial that I'm trying to short sell.
At one point it was the 3rd lowest priced home, but according to the CMA I just did, puts it at 16th lowest. UNBELIEVABLE the prices for some of these gorgeous homes...
Anyway, this is my 2nd weekend in a row, I've been here an hour and no one's come to look yet. Last weekend, Superbowl Sunday, I was here from 12-2 and had only one couple stop in. And I've been getting 1 to 0 showing requests per week.
I think it's time to lower the price, but I'm already going to be asking for over $65k to be forgiven by the bank... I'm not sure if I can go any lower... but then again, it's not even really getting showings at the price it's at... The lowest comp was at $205k! What do you guys think? Will the bank go for it if I lower another $10-15K?
Anyway, I was trying to put up some Open House signs today and they kept getting blown over.Luckily, I was still in my car and saw it, so I just gave up, grabbed the signs and didn't put any signs out. Two of my signs, in a row, broke... and the other kind I have, the ground's too frozen to put them up. LOL... Just not my day... (Not to mention that I'm personally missing 2 garbage cans from my home... the wind blew them away and I couldn't find them, and I live between 2 dead end streets!)...
I just read in the paper today that they have officially stopped zero down loans in MI. Wow... More great news for this market... Foreclosures in Michigan rose 68% in 2007... Ouch!
You know, this isn't really anything new... There's articles in the paper on this and it's covered in the news daily... and yet, there's still homeowners in trouble that aren't asking for our help. It's incredible how many homeowners are choosing to just walk away from their homes without even calling their lender to discuss options or contact a realtor for help with a shortsale.
I bring this up only because I just learned in the last week that a neighbor across the street is getting foreclosed on. I didn't believe it because I had never seen a for sale sign in the yard, and I looked it up on the MLS, and it's never been listed... Sigh... I think that there should be more news articles and news coverages on short sales and options people have if they can't afford their payments.
Ok, now I'm just ranting...
Anyway- if you made it to the bottom of this blog, what's the most you've seen a bank forgive? If so, what banks? I'm currently working with Option One, GMAC and CMS. Thanks in advance!
Comments (6)Subscribe to CommentsComment