There are still 25 minutes to go before today’s broker open house list is final but so far, it looks like the fall season has ended. Just eleven listings, which include several rentals, a pile of retreads and one short sale in an undesirable (to me) area of town. Those owners are way underwater, there’s a $900,000 gap between what they’re asking and what they owe the bank (about a 35% difference) and short sales are so tenuous, time consuming and so likely to fail that, for this location, I’m not interested in even driving there to view it, let alone try to sell it.
If a client does express interest, I’ll advise them to wait for its title to pass to the bank via foreclosure and we can deal with a different, easier-to-get-along-with department. The employees handling short sales are a pretty incompetent bunch.