Comments on: Bait http://fostercityblog.com/2009/06/bait/ Foster City Real Estate...and so much more! Sat, 04 Sep 2010 14:59:23 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Chino Hills Homes Short Sale http://fostercityblog.com/2009/06/bait/comment-page-1/#comment-21531 Chino Hills Homes Short Sale Sun, 08 Nov 2009 19:32:01 +0000 http://fostercityblog.com/?p=2418#comment-21531 I see that a lot on short sales, listing prices that make absolutely no sense. The agent puts a price that is so far off market value. Now comes the hard part trying to explain this to my clients, well its listed for X why do we need to offer Y. We the appraiser from the bank will come out and appraiser the property before the banks approves the sale. Remember the bank only approved the short sale, they did not approve the listed or so called listed price. I see that a lot on short sales, listing prices that make absolutely no sense. The agent puts a price that is so far off market value. Now comes the hard part trying to explain this to my clients, well its listed for X why do we need to offer Y. We the appraiser from the bank will come out and appraiser the property before the banks approves the sale. Remember the bank only approved the short sale, they did not approve the listed or so called listed price.

]]> By: Jim Minkey http://fostercityblog.com/2009/06/bait/comment-page-1/#comment-13889 Jim Minkey Wed, 17 Jun 2009 19:02:35 +0000 http://fostercityblog.com/?p=2418#comment-13889 All I can tell you Yan is the same thing I would tell my own clients in this situation (and by the way...they are not writing!). A fair price is whatever you're ultimately comforatable with. Try to decide what your max is and follow very closely how many other offers there are. I wouldn't write the price on the contract itself until I knew for sure how many competitors there are. Your offer will be different if there are 3 offers as opposed to 10. Wait until the last minute, have your agent call you and then decide...having already established what your willing to spend at each level of competition. Make sense? I wouldn't even guess about the final price. Sorry All I can tell you Yan is the same thing I would tell my own clients in this situation (and by the way…they are not writing!). A fair price is whatever you’re ultimately comforatable with. Try to decide what your max is and follow very closely how many other offers there are. I wouldn’t write the price on the contract itself until I knew for sure how many competitors there are. Your offer will be different if there are 3 offers as opposed to 10. Wait until the last minute, have your agent call you and then decide…having already established what your willing to spend at each level of competition. Make sense?

I wouldn’t even guess about the final price. Sorry

]]> By: Yan http://fostercityblog.com/2009/06/bait/comment-page-1/#comment-13888 Yan Wed, 17 Jun 2009 18:54:47 +0000 http://fostercityblog.com/?p=2418#comment-13888 What is the fair price for 813 Peary? Any predictions on the final sell price? What is the fair price for 813 Peary? Any predictions on the final sell price?

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