Lowball offers on short sales do not help anyone

You may think you are pulling one over on the bank by putting in a lowball offer on a short sale, but all you are really doing is wasting your time. A bank is not going to give the house away. If the house is worth 135k, the bank is not going to sell it to you for $84k. Any lowball offers are a waste of time for the banks, negotiators, agents involved and the home buyer and seller.

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Top 10 real estate posts of the day for 2/26/2010

top-10-logo 1) The 7 No’s of a Successful Realtor® – Ok this has some good information, read the list at the bottom for that good information. But that is not what has me fired up, think of the numbers mentioned towards the top of this post. 90% of all agents don’t make it out of the first year? Can that be right? That is probably worse then the amount of people who fail in some MLM schemes in the first year. This goes straight back to NAR and the requirements to get a real estate license. The entry is so low, the education provided to get your license is so weak, it sets people up to fail. Is that all they can care about is getting the money for those initial dues. Why not work on a system that trains people to succeed not just strive to have the same success rate as a quick MLM ponzi scheme.

2) Congress & Obama Clueless About How to Fix the Housing Crisis – What is disturbing about this is she is right, the housing market is not a priority at all to this administration. Their one attempt was going to help 4million homeowners, yet a year later it has helped closer to 150,000. A little short of the goal. The administration should realize that fixing the housing issues would make for a mobile economy which could then easily move to where the jobs are helping the economy even more. Then again, seeing their attempts to fix it in the past, maybe it is a good thing they are not focusing on it.

3) Thinking About Short Selling Your House? What No One Will Tell You. – Told like only Justin McHood can tell it. If you are not familiar with Justin’s writing style, it is typically blunt, honest and includes some humor.

4) Listing Price: What Matters, What Doesn’t – Heather sums it up pretty good here, pay attention sellers. What matters in pricing a house? How much it is worth. What doesn’t matter? How much you fantasize it is worth.

5) What conveys? More on fixtures, personal property, and those little contractual gray areas – Every state is going to be a little different, but I think this sums it up for most states. And as always, if there is ever any doubt or the potential for any doubt write it into the contract.

6) Why do Buyers Make Lowball Offers? –Some reasons why buyers make lowball offers. It is our job to educate them so they know what the market conditions are and the real value is.

7) Does Home Staging Really Work for Pasadena Real Estate Sellers – Those are some staggering numbers for how effective this home stagger is. I am sure not all are this successful, but these numbers will make you think twice about not hiring a professional.

8) Home Energy Audits, What’s Up With That? – A topic you do not hear much about, home energy audits. But I am guessing for a luxury traditional sale who is up against distressed properties, this could be a real value add if you had one done before you listed and provided results.

9) No, No, No, Yes. – Lesson to everyone, keep going and don’t ever take no for an answer.

10) Freddie Mac Posts More Losses – Good news for Freddie Mac, they only lost $25 BILLION last year, down from the $50 BILLION from the year before.

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