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Registered
Joined
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3,012 Posts
Discussion Starter #1
Status:

Sold
LP:
$289,900
Sales
MLS #:
sold price.
$564,000
Orig.Price:
$289,900
Price:
MT:
14
APN:​

PUD
12/24/2008
AMT:
14
Listing Type:
N
CBB$:
3.00%
Call Listing Agent
Address:
City:
92078
MapCode:
1128B3
Bedrooms:
SAN MARCOS
Optional BR:
HAMPTON HILLS
Total BR:
3
Total Baths:
3
Complex/Park:
Est.SqFt:
1,315
Year Built:
1986
Jurisdiction:​
Media: 12
Wtr Dist:
Schl Dist:
Cross Streets:
LAKE SHORE
Age Restrictions:
N/K
Zoning:
EO:
N
Lot Size:
1-3,999 SF
Pets:
Prop.Mgmt.Co:
LS:
N
Acres:
Sign on Property:
Y
Prop.Mgmt.Phn:​
REMARKS AND SHOWING INFO
====================ATTENTION APPRAISERS AND AGENTS====================SOLD CONVENTIONAL FINANCING WITH NO CONCESSIONS. IN FAIR CONDITION.======================PLEASE NO CALLS CALLS UNLESS URGENT. THANK YOU.
Occupied:
Vacant
Occupant:
Occupant Phone:
Lock Box: Yes
Mandatory Remarks:
None Known​
LISTING AGENT AND OFFICE INFORMATION
Listing Agent:​


Add'l Phone:​

2nd Agent:
2nd Agt Phone:
2nd Add'l Phone:
Listing Office:​

Broker Office ID:
15681
Email:
Fax:​

Pager:​
SOLD INFORMATION
Off Market Date:
01/07/2009
Close of Escrow:
02/19/09
Financing:
Conventional
Selling Agent #:
117851
Selling Agent Name:​

Sale Price:
$564,000
Selling Office #:​

Selling Agent Office:​

Exp Date:
12/24/2009
Concessions:
N​
FEES, ASSESSMENTS AND TERMS
H.O. Fees:
$97.00/Month
Paid:
Monthly
HO Fees Include:
Common Area Maintenance
Other Fees:
$0.00
Paid:
CDF/Mello Roos:
$0.00
Paid:
Total Monthly Fees:
$97.00
Assessments:
HOA:
CURTIS MNGMT.
HOA Phone:
760-643-2200
Est % of Owner Occupancy:
Other Fees Type:
Terms:​
INTERIOR FEATURES
Stories: 2 Story
Approx Living Space: 1,000 to 1,499 SqFt
Interior Walls: Source of Square Feet: Assessor Record
Sub Flooring: Fireplace(s): 1
Fireplace Location: FP in Living Room
Floor Coverings: Ownership:
List Date:
Exclusive Right (R)
Court/Lndr Apprvl Needed:
CBB%:
CVR:
N
Possession:
1309 Hampton
Unit#/Space#:
San Marcos, CA
Zip:
3
Full Baths:
2
Community:
Half Baths:
1
Neighborhood:
BANK OWNED....SOLD AS-IS....ITEMS MENTIONED AND OTHERS MAY NOT WORK....LOCATED IN A NICE LITTLE DEVELOPEMENT. .
Confidential Remarks:
Directions to Property:
Showing Instructions:
VACANT. ON REGULAR SANDICOR LOCKBOX. PLEASE LOCK UP WHEAN LEAVING. THANKS
Cash, Conventional​
ROOM DIMENSIONS
Living Room: 17X12
Master BR: 12X15
Dining Room: 11X8
Bedroom 2: 11X11
Family Room: 0X0
Bedroom 3: 11X12
Kitchen: 9X9
Bedroom 4: Breakfast Area: Bedroom 5: Extra Room 1:
Extra Room 3: Extra Room 2: Searchable Rooms: Dining Area​





++++++++++++++++++++++++++++++++++++++++++++++++++​


NOW. I REMOVED THE AGENT'S INFORMATION........ BUT THIS IS THE WORSE CASE OF "BAIT AND BUMP" I HAVE SEEN YET! HOW ARE THESE AGENTS GETTING AWAY WITH THIS? Look at the LP / list price and then the Sold for price..... UNREAL!​

Anyone looking at these Shorts and REO's, PLEASE be careful..... this is what is out there. Agent's and Realtor's advertising these attractive low prices..... knowing they will sell for much more. Just Wrong in my book!​



"DO WHAT YOU SAY, AND MEAN WHAT YOU SAY! "​
 

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Punk in Drublic
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2,165 Posts
F%$kers! Hate any bait n switchers with a passion!:|err
 

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1,044 Posts
i have been trying to get the deals to get in since i am a first home buyer and have been put in a bidding war that gets out of hand everytime... kinda frustrating but still looking around!
 

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Slum Lord
Joined
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2,854 Posts
F%$kers! Hate any bait n switchers with a passion!:|err
That's whats happening....they are putting these super low listing prices and sit on them til the offers creep up.....they don't have to accept any offers just because.
I'm seeing 2400-3000sf homes in Temecula being listed under 200k.
 

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Registered
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3,006 Posts
The banks/REO sellers play by different rules. They can drag it out and sell the home as is. Without any real disclosure since they never lived in the home. A common technique is to sit on offers. List low and wait 10 days, take the best of. The buyers are in many cases working against themselves. Don't like it? Don't make an offer.


On the flip side. I found success in going after Relo's. The company's always over price based off of comps and after sitting for 6 months over priced they find religion and take a qualified sure thing offer to get it off the books.
 

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5,838 Posts
I deal with these unethical dipshits everyday. Dont worry, 95% of them (REO agents) have NO people skills or sales skills. They will be out of business once the repos are gone. Most of them sold less than 5 homes a year before 2007. Its amazing the banks give them these listings, but in my opinion, they can keep them... I wouldnt want to become a "property manager" like the REO agents are. I see what a lot of those guys/gals get paid on the listing side on our escrow instructions/ bank addendums and its not worth it to me for the work they do. Id mush rather be on the selling end!

Now some of them are really great agents and I always look forward to doing more transactions with them in the future, but again, thats a very small %.


FYI, when submitting REO offers, make them as complete as possible. make sure your agent is on top of that REO agent or his/her asstistant. most of them like to communicate with email.

If its a good deal they will go quick, I always reccomend my client to go over asking if they really want it. I will pull up last months closings, show what they were listed at, then show the sold price (usually higher).
 

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Full Of It.
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787 Posts
This is not that atypical nowadays. They do it to generate interest in another of many many listings on the market. If they can get it sold any sooner they are ahead of the game. A regular feeding frenzy, like a mini sized auction.

It really sucks for the listing agents who have to upload and present the dozens of offers they get, and then fight off all the annoyed buyers' agents who are trying to win the house for their clients.

The paper said 25% of homes in the county are worth less than the mortgage balance.
 

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Registered
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3,006 Posts
This is not that atypical nowadays. They do it to generate interest in another of many many listings on the market. If they can get it sold any sooner they are ahead of the game. A regular feeding frenzy, like a mini sized auction.

It really sucks for the listing agents who have to upload and present the dozens of offers they get, and then fight off all the annoyed buyers' agents who are trying to win the house for their clients.

The paper said 25% of homes in the county are worth less than the mortgage balance.

Very true. I didn't have the energy to type it. It seems that only certain agents do the low list, submit best & final.
 

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1,205 Posts
$564K

Who's the lamer? The guy who listed a house for 289 and got 560 for it or the guy who paid 564 for a house listed at 289????????

I understand the problem in California now. The people are IDIOTS!
 

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Full Of It.
Joined
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787 Posts
$564K

Who's the lamer? The guy who listed a house for 289 and got 560 for it or the guy who paid 564 for a house listed at 289????????

I understand the problem in California now. The people are IDIOTS!

The agent can recommend a price, but the lender actually sets the list price. The listing agent is pretty much stuck with it, whether its too high or too low.

Apparently $564,000 is what the house is worth, because that is what a well informed buyer was willing to pay. The house got a lot of market exposure due solely to the price point they chose.

The price it low policy is a lot of work for the agents, but the lender was probably well served in choosing that strategy.
 

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Premium Member
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892 Posts
Perfectly legal and also considered ethical. A listing price has been held by the courts to not be an offer. It is an invitation to make an offer. This is no different than house prices getting bid up beyond the listing price five years ago. This house obviously sold for fair market value. If I put my house on the market with a listing price of 500K and I get ten higher offers, I think I'll go with the highest one.

Here would be the question. If there was only one full price cash offer would the seller have sold? He didn't have to, but if he didn't, he would still owe the agent the commission.
 
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