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?
Tere Rice
Allison James Homes & Estates
951-693-0093
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