Is this a good deal?

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Submitted by donaldduckmoore on February 28, 2009 - 9:56pm

Per MLS 090012650, although the agent was cold and never got back to me, I decided to have a look at the house because it is quite cheap. Wow, the house is amazing. I wonder why they sell it at this price. Is the comp in that area close to that price? I saw bunches of people coming to look at the house and there were times when buyers and agents were waiting at the door. I thought the buyer pool dries up already. Is this a good deal? What is the chance of offer acceptance if offering the asking price.

Submitted by Eugene on February 28, 2009 - 11:15pm.

More expensive than houses on Park Run, way cheaper than anything else that age and size in PQ. Is it bank owned?

Try to sit in the backyard when the wind is blowing off the 56, think if you can live with that for the rest of your life.

Submitted by urbanrealtor on February 28, 2009 - 11:19pm.

Here is what I found for sold comps right around there.
http://tempo5.sandicor.com/Pub/EmailView...
THe other property on Pimpernel indicates that it is a good deal. It is not a screaming deal.

I have no recollection of what this street is like in person. Therefore, someone more familiar with that immediate vicinity might have a better feel or perhaps even specific experience.

Submitted by Eugene on February 28, 2009 - 11:35pm.

urbanrealtor wrote:
Here is what I found for sold comps right around there.
http://tempo5.sandicor.com/Pub/EmailView...
THe other property on Pimpernel indicates that it is a good deal. It is not a screaming deal.

The other property on Pimpernel is on a cul-de-sac and it's not above the freeway.

Submitted by Scarlett on February 28, 2009 - 11:50pm.

Yes, the noise and the pollution you get from 56 ARE VERY strong minuses. One has to go there and listen. Outside, where you may not be much of the time, and inside, with the double paned windows, where you will be most of the time. Think that you may want to stay in the house with windows/patio door open. Or in the pool. Does it have A/C?

Take into consideration (future) kids - it has a pool, I don't know if it's much else of the yard, you may not want that for safety reasons. Personally I'd rather have more backyard than a pool/spa.

I've been in the neighborhood a couple months ago and I thought that it showed some signs of distressed properties, a little patchy, some unkept front yards... Don't remember for sure if it was Pimpernel, or other streets nearby like Isocoma or Texana...

Overall, I don't think it's a good deal, unless you have to have a 4 bdr in PQ NOW as cheap as possible (now) and you can live with the 56 noise and the pool. Inside the house seems pretty decent otherwise. Still, in a year or two , this house will go lower.

Submitted by SD Realtor on March 1, 2009 - 12:11am.

I used to live pretty close to that area on Buckwheat. A few speculative observations on this home. They never intended to sell it at 449k. They smartly priced it to get as many offers as possible. It is a short sale and they need to clean the pipe out and get something into the lender for submission. In the end the home will go in the high 400's or maybe 500's.

There is alot of noise on Pimpernel.

Submitted by Eugene on March 9, 2009 - 1:43pm.

The listing is "not active". What's the deal with that, I wonder.

Submitted by DataAgent on March 9, 2009 - 2:00pm.

esmith wrote:
The listing is "not active". What's the deal with that, I wonder.

Probably a 'short sale.' The prior sale was $690K and taxes are currently delinquent. The lender might be hard to work with.

Submitted by SD Realtor on March 9, 2009 - 2:02pm.

A couple (but not all) of the possibilities.

1 - The offer or offers have been submitted to the lender and the seller does not want anymore showings. Thus the home is not pending, and the seller doesn't want to be bothered anymore and thus the home is correctly put into withdrawn status until the listing agent finds out more information from the lender.

2 - Similar to 1 but instead of offers being sent to the lender the seller is attempting to mod the loan and again, doesn't want any traffic during that process.

***

Actually if all of the actives that are in reality inactive because they have offers into the lenders and are either only fielding backups or they are simply not yet pending because they are waiting for responses back, we would see a reduction of actives.

The MLS really should create another category of actives because many actives are very misleading if they have offers into the lender. There are mandatory remarks now that you have to put in but that is not a sufficient flag to warn the public, especially for the 3rd party sites that listings go to.

Submitted by donaldduckmoore on March 9, 2009 - 4:44pm.

When was the transaction take place when it was sold for $690k? Is not active = sold?

Submitted by donaldduckmoore on March 12, 2009 - 11:17am.

Heard some rumor about this property that it already has offer before it was put on MLS. The rumor is that the agent is trying to sell it to a friend with a depressed price to make profit. Do you realtors have anything to say about this? I smell market manipulation.

Submitted by SD Realtor on March 12, 2009 - 3:31pm.

Donald we don't you ask your realtor to call the listing agent, and then simply ask for the status of the home. To do you a favor I did just that but got his voicemail. His name is Don Kovacs, 858 735 9767.

I am perplexed at why people like to post about rumors they hear and make obscure references rather then pick up the phone and make an honest effort to get to the bottom of things. It really is not that difficult.

I am sorry and do not mean to harp on you but it seems like it would be more constructive to at least make a half hearted attempt to find out some facts first wouldn't it? Then post what you find!

As far as market manipulation goes no I don't think that is the right term here. I would put this more in the category of the listing agent defrauding his seller if what you have implied is correct.

Submitted by donaldduckmoore on March 12, 2009 - 4:20pm.

Do you think the realtor will tell you the truth. It is my realtor who told me about this. If a thief steals something, he won't admit that he were the thief. Besides, this realtor is very difficult to reach, not to say you can ask him anything for that matter.

Submitted by SD Realtor on March 12, 2009 - 4:30pm.

Do our politicians tell us the truth?

Does that mean we should not vote?

All I am saying is make an effort. If you believe and trust your realtor then ask how your realtor found the information out? Did your realtor call the agent? Did your realtor call the broker that the agent works under if that agent was not a broker?

Look, I have a client who has been heartbroken because he has been outbid on some offers. The latest was a foreclosure but the listing agent answered my inquiry as to who the selling agent was (buyers agent) and told me I could contact his broker to verify if I wanted to. That is the best I can do for my client and when the transaction closes I can verify the information.

There is not anything else that can be done.

***********

Look at your post and what you wrote. You made no mention that your realtor had told you this, nor have you made reference as to how your realtor found this out. The home was on the market 6 days before it went into withdrawn status. Did you make an offer on it? If you think there really is a problem then take action. I have another client who made a complaint to the BBB against a listing agent because that person thought the agent was not dealing fairly. This client also went to the Prudential office and confronted the broker about the situation.

The point is that of course they (the realtor in question) will most likely not tell the truth but you can take more action if you want to. I agree that we are helpless to that sort of crime. The fact of the matter is that yes this kind of crap goes on and the more people do to combat it, the better. It may seem like complaints to the DRE and BBB are useless but they do not go totally unnoticed.

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