Stiff arming real estate sellers is not a good thing

    If I could only get my Audio podcast uploaded into Sound Cloud – I'd be a happy man…

     

    It was a great show, and I talked about the short sale process and how some buyers and most sellers can benefit from it.

     

    However, you know how technology is, sometimes it is and sometimes it ain't 🙂

     

    If home prices increased another 5% – then 1.8 million of the underwater 10 million homeowners would be able to sell their homes. (or at least be “right side up”)

     

    I watched a news release from REMAX on the wire yesterday, and those numbers staggered me.

     

    With 10 million people underwater on their homes – meaning they owe more than their homes are worth – which is down by the way, due to the ways residential real estate is increasing, we are better today than we were even 2 months ago.

     

    Lacking inventory is driving buyers of homes to do strange things. Or should I say, they could be being influenced by their agents??? Paris911.com/buyers

     

    Showing up at a sellers home to “talk them into” accepting your offer if not Kosher. In fact, it could be viewed as harassment. If your agent is telling you to do this, be weary, you could get into a lot of trouble, especially if the seller feels threatened.

     

    Finding out where the seller works, and showing up there or mailing them correspondence to their place of employment is also grounds for issues.

     

    The bottom line is that your offer is going to be accepted or it won't be. There are some things that a savvy real estate agent can do to facilitate the process. However, giving you advice about showing up at a sellers place of business, or calling them there, it not something you should agree with.

     

    The more that sellers realize that they are right side up on their mortgages, the more properties that are going to hit the market for sale. When this happens, we are going to see an adjustment of sales prices. Probably not declining, but flat lining for a while before increasing again.

     

    Be safe – have a great weekend – Happy Mothers Day to those mothers out there in the world.

     

    We will broadcast a “happy Mother's Day” show tomorrow. If you want to get our “daily real estate” reports, head over to our main real estate website Paris911.com and type into the MacBoX at the top of the screen the word “daily” – or you can click here – Paris911.com/daily

     

    Talk with you soon and thanks for reading and listening…

     

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