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Regular Contributor
TheGreenBanker
Posts: 86
Registered: ‎12-11-2011

A plea to BA sellers

SELL YOUR HOME TO FAMILIES!  Don't sell your home to an investor looking to rent out the property or leave the house vacant.  Don't get lured by the all cash offers.  A 30-40% down with pre-qulification letter from a major lending institution is just as good.  It's BS how the foreign investors are snatching the American dream away from American families.  You, the seller, can do something about it.   

Gold Super Contributor
Jil
Posts: 3,150
Registered: ‎10-24-2011
0

Re: A plea to BA sellers

[ Edited ]

TheGreenBanker wrote:

SELL YOUR HOME TO FAMILIES!  Don't sell your home to an investor looking to rent out the property or leave the house vacant.  Don't get lured by the all cash offers.  A 30-40% down with pre-qulification letter from a major lending institution is just as good.  It's BS how the foreign investors are snatching the American dream away from American families.  You, the seller, can do something about it.   


You know how I got the last one? One realtor asked me again and again three weeks, Jan 2012 SS, to sign an offer seeing my pre-approval. I was hesitating as my kid's school was not over. How can I go in between school period as it disturbs them lot. She did not even get a single offer since then. Finally, upon her repeated ask , I gave the offer and luckily got the home. Prices went up after this incident...

 

During 2008-2011, many realtors requested for a single offer for months and no one cared...and all the people are waiting for prices to go down and down further...

 

Did any one save them during 2008-2011 when they were are distressed due to price fall? Why do they need to listen?

There are plenty of people on the market who does not even look at this forum. Are you going to hold a board at the city street junction like this?

 

 

 

 

Silver Contributor
kinectimal
Posts: 442
Registered: ‎12-18-2011
0

Re: A plea to BA sellers

if the family is the highest bidder I might choose theirs over an all cash offer.

Gold Super Contributor
norcalnative
Posts: 3,277
Registered: ‎05-04-2009
0

Re: A plea to BA sellers

If your selling a home that does not have issues that will cause a bank to balk at funding the loan- it doesn't matter who is cutting you the check your getting cash either way as the seller. I was involved in selling two family homes in the last year and a half. All cash offer would not have changed anything unless the cash offer was more than the other offers we had which were legit bank funded offers.

 

Funny how people think cash offers are some how different than proper bank funded offers given both are cash being paid to the seller. The only difference being if the seller is selling something a Bank will not lend against! Which case your standard buyer shouldn't be purchasing a property a bank will not take the risk to loan money against anyway!

Regular Contributor
hikergrrl
Posts: 60
Registered: ‎09-14-2011

Re: A plea to BA sellers

There is a strange sort of panic in the market right now that has buyers who have been waiting in the wings waiting for prices to fall even further, rushing in to get something, anything before it gets even nuttier - hoping they arent too late.

 

I have to wonder where all these people were in 2010 and 2011 when I was looking for a house? I remember going to open houses every weekend and often being the only one in the house and seeing agents bored out of their minds waiting on someone to come in, serious buyer or not. I had 4 or 5 nice bungalows to choose from in the summer/fall of 2011 - they had all been sitting for months, price dropping, with no buyers. I chose one and I bought it. 

 

People told me my house would be under water before I even moved in, they said I should wait, the market would fall further, but I decided that the house I found was something I wanted to live, fairly priced and I could afford it. I chose NOT to play the 'beat the market' game. 

 

These same people are now desperte to get a house 'before its too late' and doing everything they can to appeal to sellers  - letters full of details, asking sellers to consider families for the good of the neighborhood. Which is all fine if the offers are equal in money and terms, but when they are not? Why would a complete stranger basically 'give' away tens of thousands of dollars and/or time and energy on a longer, more complicated closing because you, like them, are a family trying to get the best deal for yourself?

 

Playing in the real estate and stock market is gambling. Play at your own risk, dont gamble more than you can afford to lose and be prepare to win some/lose some. If you talk to any successful gambler they will tell you they break even or come out ahead because they don't try to wring every single penny out of each deal. 

 

 

 

 

 

 

Gold Super Contributor
norcalnative
Posts: 3,277
Registered: ‎05-04-2009

Re: A plea to BA sellers

Hikergrrl -- heck even 2009 when we were looking which had homes sitting on the market for a year or more in some cases and being sold under their inflated asking prices in many cases with no more than one offer in the mix. As in our case we offered nearly 30% under the asking price which was very close to the going value and direct easily pointed to comps. Done deal seller finally sold a home they knew was over priced in a big way for over a year and a half. Seller was finally ready to sell and we managed to show up at the right moment.

 

When it comes to the Bay Area RE market there are small lulls in buyer action and that is when you shop for a home. If you sit around waiting for a major market drop across the board - you'll be waiting till CA slides into the Pacific ocean.

 

Getting a good deal in the Bay Area means avoiding the Lemings rush to buy a home. If you go to an open home and there are more than 10 people rushing it the moment the door opens - YOU ARE NOT GOING TO FIND A GOOD DEAL!!!!!! LOL

Silver Trusted Contributor
Michelle1x
Posts: 1,063
Registered: ‎02-17-2008
0

Re: A plea to BA sellers

I also want to point out that many families and non investors could have bought in the downturn but chose not to.  Sure some people didn't have gainful employment in the 08-12 period but do now... so this comment does not address those folks.  But for the most part, a similar number of *individuals* could have bought then vs now.  The big difference today is that the invesotrs are back and skewing the buying climate.

 

One of my loan officers keeps bothering me about this particular house I am trying to refi (the problem house) asking if I want to sell it to a client of his who is a teacher looking for a house of this type.  Sorry but the house has a mortgage of $330K but is probably worth $700K at this point irrespective of what zillow says, but anyway, where was this teacher in 2009?  He/she could hve bought up the wazoo then.

Gold Super Contributor
norcalnative
Posts: 3,277
Registered: ‎05-04-2009

Re: A plea to BA sellers

Having a few teachers in the family 09 teachers were under attack - most were working and still are working with no active contracts - and till prop 30 - they were facing cut backs and lay offs just like everyone else. So stands that a teacher in 09 who might have been thinking about a house had plenty of good reasons not to buy a house then.

Silver Contributor
MyCousinVinny
Posts: 504
Registered: ‎06-13-2011
0

Re: A plea to BA sellers

I think all buyers should stop buying and renting from investors. 

Contributor
Coastie
Posts: 14
Registered: ‎01-16-2013
0

Re: A plea to BA sellers

[ Edited ]

Im glad someone posted this.

For months I've been reading about how families are losing out on homes due to investors buying everything.

My husband and I have talked about this quite a bit as we will probably sell our house in about a year (due to a job transfer).

We for one would PREFER to sell our home to a family (meeting our asking price) before selling to an investor offering a little bit over. (Call us sentimental in believing that our property should remain in US hands.)

We know what it was like to look at home after home, hoping we would get one we liked, and we were blessed to have a family who sold it to us even though they could have sold it to an all-cash investor.