Comments on: Can You Low-Ball a Short Sale? http://nwwayoflife.com/2010/02/06/can-you-low-ball-a-short-sale/ Bellingham, WA -- Every Adventure Begins at Home! Tue, 13 Jul 2010 21:31:02 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: OK, So Can You Low-Ball an REO? | NW Way of Life Blog http://nwwayoflife.com/2010/02/06/can-you-low-ball-a-short-sale/comment-page-1/#comment-409 OK, So Can You Low-Ball an REO? | NW Way of Life Blog Wed, 10 Feb 2010 05:58:54 +0000 http://nwwayoflife.com/?p=1414#comment-409 [...] Downer, asks the question: Can you low-ball an REO? This is in response to last weeks’ post about low-balling short sales, where we discovered that, according to NWMLS stats, short sales have been selling for over 98% of [...] [...] Downer, asks the question: Can you low-ball an REO? This is in response to last weeks’ post about low-balling short sales, where we discovered that, according to NWMLS stats, short sales have been selling for over 98% of [...]

]]> By: brandonnelson http://nwwayoflife.com/2010/02/06/can-you-low-ball-a-short-sale/comment-page-1/#comment-408 brandonnelson Wed, 10 Feb 2010 05:34:09 +0000 http://nwwayoflife.com/?p=1414#comment-408 Hey Debbie :-) Have I low-balled a bank-owned property, aka an REO? Let me address that in today's blog! Thanks for the comment! Brandon Hey Debbie :-)
Have I low-balled a bank-owned property, aka an REO? Let me address that in today’s blog! Thanks for the comment!
Brandon

]]> By: d downer http://nwwayoflife.com/2010/02/06/can-you-low-ball-a-short-sale/comment-page-1/#comment-405 d downer Tue, 09 Feb 2010 00:50:39 +0000 http://nwwayoflife.com/?p=1414#comment-405 there is an interesting war going on in this city (and state really) between those who feel the seller should be grateful for any and all offers, and those who believe the sellers hold the cards still. Seems almost political, and full of emotion. The outcome is not clear. Being a Downer, I fall in the camp of the low ballers....... But, I know that I have been wrong since about 2003, about when Bham left the fundamentals of the joe shmoe house should cost 3x the Joe schmoe annual wage. If nothing else, this is an interesting time in RE. Just the fact you can't effectivaly low ball a "short" but then they will drop the official price and get close to 100% of that is weird. There is opportunity and frustration in bank ownership, they have alot of this property on their books at the price they lent on, and the FDIC lets them play their games to make them look better. So, when they do sell, the loss is in the actual margin, but also in what they were counting as an asset on their books. Just the huge loss projected by the FDIC at Horizon, 500mil, as opposed to what Horizon was saying, shows the kind of games these banks have been playing with reality. Brandon, have you had anyone low ball on bank owned property rather than a short, just curious... there is an interesting war going on in this city (and state really) between those who feel the seller should be grateful for any and all offers, and those who believe the sellers hold the cards still. Seems almost political, and full of emotion. The outcome is not clear. Being a Downer, I fall in the camp of the low ballers……. But, I know that I have been wrong since about 2003, about when Bham left the fundamentals of the joe shmoe house should cost 3x the Joe schmoe annual wage. If nothing else, this is an interesting time in RE. Just the fact you can’t effectivaly low ball a “short” but then they will drop the official price and get close to 100% of that is weird. There is opportunity and frustration in bank ownership, they have alot of this property on their books at the price they lent on, and the FDIC lets them play their games to make them look better. So, when they do sell, the loss is in the actual margin, but also in what they were counting as an asset on their books. Just the huge loss projected by the FDIC at Horizon, 500mil, as opposed to what Horizon was saying, shows the kind of games these banks have been playing with reality.

Brandon, have you had anyone low ball on bank owned property rather than a short, just curious…

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