More money to the “principal reduction” process for Real Estate. Over 4 billion dollars has been allotted. Don’t get too excited – this seems to only be coming in the form of Loan Modifications. We have yet to see anyone that owes 300K on a home that is now worth 150K, experiencing a hardship, then having their bank “lop off” $150,000.00 to bring their home back to fair market value.
How well do you know me? You may know that I was LAPD for 17 years. You also may know that I remained a current reserve officer with the LAPD. More cop than Realtor, I have a distinct ethical stance. My code, my conscious, that reflection that stares back at me from the mirror in the mornings. All of that binded My GOD and Creator… They all keep me on the straight and narrow path.
Received a call from a “man” about a bank owned listing that we have for sale in the Santa Clarita Valley. He asked if the property was still available. I said “Yes”. He then asked if we had multiple offers – I responded, “Yes we do”. He then asked who the bank was. I told him. He then asked how much the highest offer I had was. I said, “I cannot tell you that, I’d be unfair to all of those people that are wanting to buy this property…”
He said, “I’m not a real estate agent, I am a buyer and want to buy that property. “If you will let me know how much to write it for, I will use you and you can get more commission…”
Seriously? Apparently this fella did not know me. The bottom line is it would not be fair for everyone else that had taken the time to hook up with a real estate agent, get pre qualified with a lender, spending gobs of time searching and viewing homes, then writing the offer.
I am sure this was not anyone who had submitted an offer’s first time. I know this because of the frustration this market has created with it’s lack of “available and for sale” inventory.
There is no amount of money in the world that would make me change my ethical stance. At the end of time, my code is all I have. Be Safe and thanks for sharing, FB liking and RTing.
Here is the newest Foreclosure/Bank Owned home in Castaic – Let us know if we can help you with your Real Estate hunt in Santa Clarita Valley.
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