As of last night there are 36,897 residential active listings in Arizona Regional MLS in Phoenix, out of
those 10,781 are short sale listings, thats almost 30% of all properties on a market.
With Short Sale listing I'm assuming time is of essence and current owner wants to
get rid of the house as soon as possible.
Not so fast, many of short sale listings dont even have a lockbox and you need to
schedule an appointment to show the house. For some of those scheduling the
appointment is almost impossible. You need to send a text message to listing agent
who may or may not respond with a email address to his assistant. If you trying to
do this on a weekend forget about it assistant only works during business hours M-F.
After getting hold of they will provide you a phone number to the owner who you
need to contact. After two weeks I'm still waiting for a phone call back from the
owner.
So let me ask you this question out of those 10K listings how many sellers actually
want to sell their house. How many of them have a listing just so they have some
leverage in their loan modification process?
Andre Niemyjski
Solutions Real Estate
(623) 252-4350
smarthomeaz.com
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Keller Williams Realty Boise - Nampa, ID
I have run into many of the same obstacles as you in Idaho....we have a ton of short sale listings...and there seems to be almost no urgency from the sellers! uuugghhhh
Aug 16, 2010 04:57 AM
Dominion Real Estate Partners, LLC - Phoenix, AZ
A lot of those short sale listings have people living there who really don't want to sell, but are talked into it by a realtor who says it is better than a foreclosure.
Aug 16, 2010 04:58 AM
Realty One Group - Sun City West, AZ
Wade I agree with you but I also think the other way is happening as well when realtor is taken by a seller. He spends his time and money but seller doesnt want to sell it at all. On a side they either working directly with a lender or via loan modification company.
Aug 16, 2010 05:03 AM
Elite Realty-Luxury Homes & Condos On & Off the Strip - Las Vegas, NV
Las Vegas Condos & Luxury Homes Expert
I wish our MLS had a separate section for short sales so consumers do not get confused and think these prices are real. Your inventory levels are higher than our are in Vegas. Plugging along....
Aug 16, 2010 05:25 AM
Exit Realty Laredo - Laredo, TX
Homes for Sale in Laredo, TX - Texas, Realtor
Andrzej,
here in all metro denver area we use normal lock boxes, but in Colorado springs usually they use the electronic sentry lock that when you have to do a showing there, it's a kind of problem to get the agent to open the home.
Aug 16, 2010 06:14 AM
ReMax Select Realty - Pittsburgh, PA
Leasing, Property Management and Sales
We don't have that problem in Pittsburgh at all. But I will tell you this. I bet the sellers of these properties have no idea that you are going through such a hassell to show their property. It's a shame.
Aug 16, 2010 03:02 PM
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist
The thing that makes me crazy is when a short sale listing has an offer signed by the seller and submitted to the bank, but it still shows as active. Against out MLS regulations but done all the time.
Aug 21, 2010 03:50 PM
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info
Good question, sometimes I have to wonder as well. Now with the foreclosure halt, they will get to stay in their homes for a longer time before they get evicted.
Oct 18, 2010 04:06 PM
Equity Union - Calabasas, CA
Realtor® • GRI • HAFA • PSC • Short Sale • Probate
I specialize in short sales. I actually like them, since I do believe it is much better alternative than foreclosure or few other options.
Life happens, and homeowners are not always able to keep up with mortgage payments...with short sales they still have some control over the situation and it does not cost them a thing to hire a short sale negotiator.
Oct 06, 2015 04:55 PM
Realty One Group - Sun City West, AZ
Inna Ivchenko totally agree if its done right. If I remember correctly I wrote this post I was working with number of buyers and there were either REO properties and Short Sales and at that time there were many listings that did not had lockbox, showing by appointment only and there was no way to schedule an appointment. If you do want to sell the house wouldn't you want to try and do everything to get the house sold? At that time loan modifications were also very popular and in many cases seller didnt wanted to sell they just wanted lower their monthly payment and they used their short sale listing as a leverage.
Oct 06, 2015 05:07 PM
Comments(10)