Some Fallout

I had lunch with a friend of mine today who showed me a couple of letters he’s received at his house recently. It was interesting because I haven’t seen this type of letter at my house…but I suspect it won’t be long until I do. One was a short but sweet letter that appeared to be handwritten. It said simply:

Hi My name is _______ and my partner_________ and I would like to BUY your house at ___________

Please call me at ___ ___ ____

Simple, it sort of seemed believable to me. The interesting thing to me is the fact that it’s purporting to be from a buyer….not from an agent. We’ve apparently reached the stage where buyers are direct mailing homeowners asking to buy their place. The market is SO insane that now folks are independently going door to door looking for inventory!

The second letter my friend got was from an agent of sorts, but it wasn’t trolling on a listing. It said I want to buy your house and I’ll make it happen without an agent and save you a bundle. What I really think is that this individual is hip to how hot the market is right now and wants to find a seller with whom is uninformed about this heat. You could easily tell many people that their house is worth a November 2012 price and undercut its real value by about 25%. Seriously. The market has been SO hot that 3 month old comps are as irrelevant as 1995 comps. I really think this letter really was trying to pull a fast one on an unsuspecting seller.

But what do I know. Still, these are letters I’ve never seen before and it sure is interesting that my friend has received 3 of them in the last month.

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