lowballing?

socalmd_IHB

New member
What are everyone's thoughts on this given today's market? I've been thinking of throwing out some lowball offers in laguna niguel or newport coast.

Anyone have any success lowballing?
 
[quote author="socalmd" date=1213080092]What are everyone's thoughts on this given today's market? I've been thinking of throwing out some lowball offers in laguna niguel or newport coast.

Anyone have any success lowballing?</blockquote>
Really depends on how desperate the seller is to get out of the property. There are some banks that want to dump their REOs like a bad habit. You'll be hard pressed to get an individual seller (a warm body) accept a low ball offer especially if they have a significant amount of equity in the property. That being said, I think you'll have better luck in Laguna Niguel as it has more REOs than Newport Coast. PM me if you want to see some MLS listings (I'm a licensed agent but that isn't my day job as I work in the commercial real estate industry).
 
I get irritated when realtors tell me the bank is not going to take my offer on a short sale if it is too low. Well, then I will just take my business else where..... I am in no hurry to get a house, I would only purchase when the price is right and when I consider I have got myself a bargain (especially the way the economy is), I don't care if the lender or the seller is not happy with my offer, this is a buyers market, we are in control of what we want to pay, not what the banks tell us nor what the seller want..... we call the shots...... period!



I have been looking in OC for a while, frankly, other than Shady canyon (homes with acreage) or newport coast, OC communities/homes are not desirable at all in my opinion.... new homes with small lots or homes with a litter bit of land are often old and require major remodel.... I have yet to find my dream home that I just fell in love with, I mean, how do you fall in love with homes that do not offer any sort of privacy, look out to a see of roof-tops and you are looking at walls or windows of your neighbors every time you look out you windows? Irvine communities in my opinion are the most overpriced, flat land, cookie cutter, small yards....often with your backyard facing someones home and they want over $1million, yet people could not get enough of Irvine homes? it is a real shame how people just purchase without questioning..... So, wise up people, you paid outrageous prices for low quality living standard during the peak, never again!
 
<strong><span style="font-size: 15px;">FBI: Irvine U.S.'s safest city</span></strong>



<a href="http://cbs2.com/local/Irvine.Safe.Big.2.743862.html">This might have something to do with it</a>
 
I have had some success, but I went out to get to know the people.... Lunches, and all that other crap. It paid off when I purchased a house for about 40% of its foreclosed value. Then again, I was able to push the deal through in 7 days and walked in with 30% cash and a loan agent and paperwork already working on it.



good luck

-bix
 
From experence, bix way is the only way if you really want a discount and really want to get it done. You better have your ducks in a row. Normal buyers aren't going to bite, and banks won't deal on short sales. Yet.
 
[quote author="no_vaseline" date=1213152933]From experence, bix way is the only way if you really want a discount and really want to get it done. You better have your ducks in a row. Normal buyers aren't going to bite, and banks won't deal on short sales. Yet.</blockquote>
Short sales are the worst, just wait a few months until the short sale becomes an REO and then the bank will be a bit more motivated to move the property because it's on their books.
 
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