and claims to have solution to mortgage/housing market problems. This blogger wonders if his "solution" includes forfeiting a significant portion of his potential commission to cover the loss incurred by the taxpayers of this great nation in order to complete the sale of the property at the source of the frustration? Read more.
I'm on pins and needles just waiting to hear how everything can be "fixed" so I certainly hope more details will follow. Personally, I was under the impression that the Deep Creek real estate agents collectively solved all the housing market's problems several years ago when they announced that the bottom was near and suggested that buyers should once again buy with (irrational) exuberance. Fortunately for their sake only a few buyers fell for that one, but it still gives me pause when I hear that a real estate agent has a solution to the market ills that they spent so many months and years denying in the first place.
Don't forget to check back to Dan's Deep Creek Blog for your future updates on Deep Creek real estate.
Wednesday, March 9, 2011
Deep Creek Real Estate Agent Frustrated By Short Sale Process
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8 comments:
Do you have a link supporting this observation?
http://www.facebook.com/#!/permalink.php?story_fbid=1942004594707&id=1380223468
Hmmm...facebook is not letting me view that page. Maybe I'm not the poster's friend. Any other way to view it?
Were you shoved in a locker when you were a kid and are now taking it out on the world? Have you ever been through a short sale and understand any of the process? I have and think that this REALTOR that you so smugly bash is probably trying his best to represent his client and is frustrated at the process.
Sorry, I guess that is the way Facebook works.
Let's see, real estate agents, bankers, and their trade organizations fan a real estate price bubble that drives prices to unrealistic levels while still encouraging more new buyers with promises of spectacular investment gains, now just a few years later some of those buyers are faced with the loss of their entire initial investment, but those who fanned the bubble continue to make out like bandits. Seems odd to me, that's all.
An Agent is frustrated? What a tragedy. These guys are truly clueless. As I prepare to do battle with the board of assessments over their claim that my home lost only 2.5% of its value in the last three years, I remain incredulous at the behavior of the RE "Professionals" in this community, and frankly I think they are only half way thru this contraction in RE. We still need to see about 1/3 of the re sales firms and agents quit the business before it will begin to look better.
The next phase will be true competition in RE sales commissions. It has already started started since there is a discount broker already doing fair business at LESS THAN 1/2 of the major agencies. My home is worth roughly 10 times what it was worth in 1986, yet RE agents want the same 8% to 10% commission they were paid back in 1986. That is one hell of a raise for the same work they did 26 years ago. I know of no other industry or profession that can claim their rates remain unchanged after 25 years. Certainly the agents believe they deserve these fees - how else can they pay for the fancy offices and agents Mercedes? These guys are unprincipled lightweights and I for one am enjoying watching them squirm.
Thanks for the comments.
The fate of 199 Upper Highline Drive should be a useful data point in the effort to reduce your assessment. See my update to the 2011 short sales list.
199 UPPER HIGHLINE Dr: 2011 sold price: $650,000, another former DC Development LLC property gone bad. Seller (was it the bank or previous owner?) also contributed a $19,500 seller subsidy. Original 2007 list price was $1,099,900. Previous "owner" same as another active short sale listings at 342 Lakefront Links and an inactive, previously-listed, short sale at 335 Waterfront Greens - Morgantown-based LLC.
There are lots of function of the Real Estate agents. The Real Estate agents perform study of property listings and interview prospective clients. They discuss conditions of sale of the property.
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