good luck!

and personally, that shit would piss me off enough to file a complaint with the salesperson’s broker and the DRE

Price gaming to stimulate a bidding war is even worse at the higher range (700-850k).  Even REO properties are getting into the pricing game.

Thanks freedomCM, it is extraordinarily frustrating.  I’m going to dig deeper into the $399,000/$450,000 property and file a complaint if I can get some more solid info, i.e. who exactly (names) said what. 

Another extremely frustrating trend is the relisting of houses that I have made offers on - for less than my offer price.  An REO/short sale will list low, generate a ton of bids, go off the market and then come back on weeks later.  A$$holes.

yes, the market is too frothy.  all normal rules seem to be on hold.

personally, when I see a market like that, I stay far, far away.

this seems to be true for me personally both for RE and investments, I’ve withdrawn from the former by renting and latter by staying mostly in cash/bonds.

freedomCM - 10 November 2009 07:19 PM

yes, the market is too frothy.  all normal rules seem to be on hold.

personally, when I see a market like that, I stay far, far away.

this seems to be true for me personally both for RE and investments, I’ve withdrawn from the former by renting and latter by staying mostly in cash/bonds.

Absolutely too frothy.  The wife and I are pulling out after we hear about our latest offer.  We’re predicting big drops on the Westside when the interest rates creep up and the credits vanish.  I’ve been in CM for 15 years and know what the real values are.

CM_Dude - 10 November 2009 09:24 PM

freedomCM - 10 November 2009 07:19 PM

yes, the market is too frothy.  all normal rules seem to be on hold.

personally, when I see a market like that, I stay far, far away.

this seems to be true for me personally both for RE and investments, I’ve withdrawn from the former by renting and latter by staying mostly in cash/bonds.

Absolutely too frothy.  The wife and I are pulling out after we hear about our latest offer.  We’re predicting big drops on the Westside when the interest rates creep up and the credits vanish.  I’ve been in CM for 15 years and know what the real values are.

You might want to look into another agent; one that knows what to do on short sales. It’s a frustrating game but you can increase your odds if you know how to play it.

JCie - 11 November 2009 03:42 AM

CM_Dude - 10 November 2009 09:24 PM

freedomCM - 10 November 2009 07:19 PM

yes, the market is too frothy.  all normal rules seem to be on hold.

personally, when I see a market like that, I stay far, far away.

this seems to be true for me personally both for RE and investments, I’ve withdrawn from the former by renting and latter by staying mostly in cash/bonds.

Absolutely too frothy.  The wife and I are pulling out after we hear about our latest offer.  We’re predicting big drops on the Westside when the interest rates creep up and the credits vanish.  I’ve been in CM for 15 years and know what the real values are.

You might want to look into another agent; one that knows what to do on short sales. It’s a frustrating game but you can increase your odds if you know how to play it.

Agreed, a good agent is worth their weight in gold and there are some good ones out there (of course, they are outnumbered by the worthless ones).

.