Florida Homes and Condos for Sale: In a declining market prices decline....don't tell the banks!

In a declining market prices decline....don't tell the banks!

I posted the below excerpt on my other blog Florida Homes for Sale yesterday about a most timely topic - short sales. 

I stated.....

"I guess the more appropriate question is...do banks care if that short sale offer goes through to closing?

In a declining market prices decline....don't tell the banks!

They still think Washington will provide a golden egg!"

 Banks must not care about making money because they delay decisions on short sales until the selling price in the neighborhoods are lower than the offer they are supposed to be considering.

 


Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

www.moving2brevard.com

 

 

 

 

Read my blogs Florida Homes for Sale,  Moving to Brevard County, Florida, and  Brevard County Florida Real Estate Information.

 

8 comments • Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL • October 02 2009 08:54AM

Comments

ToulaRosebrock,comHi Gary:

I've often wondered that question myself and think that they really don't care...

At least, that's the case for some banks...

Posted by Toula Rosebrock -Broker/Sales Associate, Realtor, Lacey Township, Ocean County, (NJ, Diane Turton, Realtors, Forked River, NJ) over 2 years ago

It appears to me and has been my experience the big banks that got the big bailouts, don't care. 

Which is why I believe bailout create zero accountability and destructive behaviors. 

Posted by Mark Watterson Utah Real Estate (Principle Realty Group, Inc) over 2 years ago

We got a full price offer on a pre-approved short sale and then had the bank tell us to go back to the buyer and ask them to lower it.

Posted by Larry Gray (Realty World Homes of Distinction) over 2 years ago

Toula - It really makes me nervous when I have contracts that are higher than the market and they will not move. Thanks.

Mark - Scary but I think you are correct. Thanks

Larry -  Now that is some strange game they are playing...

Posted by Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL (Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge) over 2 years ago

that is definitely a fact no matter where. I've found some decisions are based on the detailed professionalism of the negotiators....and some not

Posted by Celeste "SALLY" Cheeseman, RA, CRS, HAWAII Real Estate & Relocations (Century 21 Liberty Homes) over 2 years ago

It seems to me that the vast majority of negotiators just don't have a clue what they're doing...and sadly, don't seem to care.  To them the customer is just an account number and a piece of paper. 

Posted by Fairbanks Alaska Real Estate Specialists Jesse & Kathy Clifton 907-328-9328 (Jesse Clifton & Associates, REALTORS®) over 2 years ago

Hi Gary!  I'm with Jesse--many don't know what they're doing and I feel that the smaller banks are the easiest to work with sometimes.  Perhaps because they didn't and won't get any bailout $$ ???

Have a great weekend...

Debe in Charlotte

Posted by Debe Maxwell - Search Charlotte Homes for Sale - Charlotte NC Neighborhoods (iCharlotteRealEstate.com Savvy + Company Real Estate) over 2 years ago

Sally - That is it...professionalism and responsiveness.

Jesse & Kathy - You are right. I believe the "people" involved are not real to the employee handling the files.

Debe - The "parties to the transaction" are people - something I think is forgotten sometimes. Have a great weekend.

Posted by Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL (Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge) over 2 years ago

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