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Guiding Buyers and Sellers through Orlando's Sizzling Real Estate Market. Speciaiist in Seminole county including Longwood, Lake Mary, Winter Springs and the Markham Woods road area in particular.
My understanding is that we are allowed to talk to appraisers...they are just not allowed to talk to lender.
A very good understanding of why "the plan" isn't working. I am located in what is suppose to be one of the rapidly declining markets although I don't seem to have any problems with my production. What asset managers do no not understand is exactly what you are stating in your article. In fact, I heard through the grapevine that one of the asset listing agents was going to "shoot down my pricing in my subdivision" with a listing that was being prepared as a bank foreclosure. Now, isn't that charming. It is all just a game for those that are handling short sales and foreclosures. For me, I absolutely refuse to play along and will continue to market my listings as beautiful retail properties that most certainly have come down from 2006 levels, but that are value priced for a market (and appraiser) that can appreciate a buyer that just wants to buy a home that is fairly priced and in good condition. I have been told that we all need to be working short sales and repos - but, while everyone else seems to be following that advice I plan on doing just the opposite. Additionally, the author is correct in the statements regarding the sellers that are walking away. Those sellers are not inclined to try to sell a worthless investment. We need financing for homes that only worth HALF of what they were - for those that have been faithfully paying on their mortgages and have no intentions of defaulting, but who could really use help with a lower interest rate. Those are the people that will "shore up" our economy - not the ones that are walking away. If we don't help those people we will be faced with even greater distress in the year to come with more inventory coming on the market as those people will finally figure out that no one is going to help them.
Your article brought back memories of my very first listing over 20 years ago. I had a great manager who sat me down with the "for sale ads" and told me to start calling. On the 7th ad call I got a response and lined up the first listing appointment and the beginning of a wonderful career. It was 1987 and it took over 6 months to sell the darn thing...in those days interest rates were double digit. That listing appointment turned into a neighbor listing and so on and so on. There was no Internet - not even cell phones - can you imagine? Did we have fax - I don't think so. I loved going out on a beautiful day and knocking on FSBO's - all of which resulted in selling over 3 million in my first year and 75% was FSBO. I didn't know NOT to do it that way...ahh, naivety...I sometimes wish I was a new agent again!
