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Do your homework !

By George Tars

Real Estate Broker/Owner with PalmHomes LLC

August 25, 2008 04:36 AM

Do your homework !

Yesterday I was showing property to a buyer that wanted to save his money (dont we all) and requested to see foreclosed properties.... I went ahead and made the arrangements as well as I came across to BRAND NEW CONSTRUCTION for less or the same sticker price as the foreclosed and "short sales" homes and I decided to show them too...

And I ask... upon obtaining a exclusive listing agreement from a seller do we inform them correctly about what the competition is doing or we are just care to stick a sign outside the yard for extra publicity for our names ? or maybe we do not do our homework ....

Feel free to IM me at palmhomesllc(at)yahoo.com

visit me at http://www.homenest.net and or http://www.specconstruction.com and or http://www.palmhomes.com

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Aventura | Bal Harbour | Sunny Isles Beach | REALTOR® 786-229-7999

SIB REALTY, Llc // WaterWayRealty.com - Sunny Isles, FL

Very often, the prices of short-sales and foreclosures are higher than other available properties. Always do your homework!

Aug 25, 2008 04:49 AM

Mark Organek

And the United States of America - Mesa, AZ

It's not a game, it's your life.

Valuable point, especially if a short sale and an REO come in at higher prices than new construction. I'm sure there may be a reason for this but the short sale and REO listings should know to be more competitive. Just had a similiar experience watching a property trail the market. It makes me wonder who the culprit is, the agent or the seller.

Aug 25, 2008 04:50 AM

Brett Tousley

Keller Williams Realty - Richland, WA

Tri Cities Real Estate | (509) 420-0013

I've seen people overpay for the privilidge of buying a short sale here recently. Once you pencil the deal often times short sales are more expensive to purchase than a similar sized home in good shape.

I blame HGTV for this unusual trend. :^)

Aug 25, 2008 04:52 AM

George Tars

PalmHomes LLC - Palm Beach, FL

I sincerely do not know ... but since in the majority of the "short sales" cases the lender makes the current owner to sign a note for the balance of the loan .... the listing agent should be more pushing the bank to price it below the competition ....

Aug 25, 2008 04:54 AM

Ilyce Glink

Think Glink Media - Chicago, IL

Best-selling author, award-winning TV/radio host.

Doing your homework and using common sense can go a long way in this business. Keep it up!

Aug 25, 2008 06:12 AM

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George Tars

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