I'm a Realtor in Concord North Carolina, a suburb of Charlotte NC and I'm getting rather frustrated with the way short sales/pre-foreclosures are being listed in our area!
In the Charlotte NC area, many agents are listing homes as short sales/pre-foreclosures before the lender is even contacted at all about a possible short sale. Agents are listing homes at ridiculously low, way below market value prices, which is hurting other sellers in the same neighborhood. I don't know where these agents are coming up with these list prices... I think they are pulling them out of a hat, because there are no comparable sales to support their VERY LOW list price!
Personally I think that there needs to be some rules set up for agents listing pre-foreclosures/short sales. The list prices need to be legitimate, not just some random amount that a listing agent dreams up. It is getting out of hand in our area and hurting other home owners who are trying to sell their homes at a price where they can at least break even!
Comments(15)