Selling IPO

[quote author="lendingmaestro" date=1215124564]hardy har har!



It depends on how he prices it. WHo knows it could sell in 3 days if priced appropriately.</blockquote>


Not if the potential buyer learns that the house has a ?stigma? attached to it.

By law, they have to disclose that Ipop lived there.



This is going to be a great thread, I can feel it!
 
3 months.... longer if it is lower priced. From personal experience i've had to "grease the skids" to get any sort of schedule response.

It wasn't fun, but it did make the purchase go through easily. Good luck

-bix
 
1 to 3 months?! If I lived there, you know people will be beating down the door to follow in my footsteps! I think we are in escrow within two weeks and closed by September 1st...
 
West Irvine homes if priced right and if it has decent upgrades have been selling fairly quick. Funny thing would be if you actually sold this house to an IHB reader.
 
[quote author="ipoplaya" date=1215133099]1 to 3 months?! If I lived there, you know people will be beating down the door to follow in my footsteps! I think we are in escrow within two weeks and closed by September 1st...</blockquote>


I got a tetnis shot yesterday.

Before visiting your open house, I plan on taking a mega dose of antibiotics just in case I come into contact with any of your stuff.
 
Yeah it depends on how he prices it...and what his % is. If he prices it low and creates a pandemonium buzz, then slyly accepts a higher offers he can sell it within 1-2 weeks.
 
IPO,



Do keep us updated on the activity and what percent below your asking price people are offering? So how low can you go to move your property fast? I have a feeling that it is going to be really really DARK in the RE market from Sept 1 - Dec 31, 2008. Panda wishes you the best of luck to move it before September 1.



I spoke with my Chicago agent yesterday and he told me that people are going to have a real tough time getting loans after some type of federal tax cut that was implemented this month? Does anyone know anything about this?



Panda.
 
[quote author="PANDA" date=1215136143]

I spoke with my Chicago agent yesterday and he told me that people are going to have a real tough time getting loans after some type of federal tax cut that was implemented this month? Does anyone know anything about this?



Panda.</blockquote>
Federal tax cut? Can you be more specific? I can not think of any tax laws initiating that would affect home loans.
 
Sorry Awgee,



I know that my statement is vague, but my agent just seemed very down and pessemistic yesterday telling me that some law was passed effective this month that made loan mortgages much tougher to get, which is why homes sales are very tough in chicago.



I'm curious, are loans really that tough to get these days? Suppose I had credit score of 680 and making a household income of $130,000. Would getting a loan from Bank of America for $417,000 30 year fixed be very easy or would it be a challenge? I just get the impression that there are a lot buyers, but the standard on getting a mortgage loan is getting very very tough, which is why it is tough to sell in this market? Does anyone in the loan industry know the answer to this?



Panda
 
[quote author="EvaLSeraphim" date=1215124109]Per Troop's request . . . .</blockquote>


I added the 3 months line, but anyone who hit 1-3 months and wanted 3+ will just have to [strike]rant[/strike] make a comment.



Nice poll, I am in IR2's office right now making sure he has spell check turned on.
 
[quote author="PANDA" date=1215137033]Sorry Awgee,



I know that my statement is vague, but my agent just seemed very down and pessemistic yesterday telling me that some law was passed effective this month that made loan mortgages much tougher to get, which is why homes sales are very tough in chicago.



I'm curious, are loans really that tough to get these days? Suppose I had credit score of 680 and making a household income of $130,000. Would getting a loan from Bank of America for $417,000 30 year fixed be very easy or would it be a challenge? I just get the impression that there are a lot buyers, but the standard on getting a mortgage loan is getting very very tough, which is why it is tough to sell in this market? Does anyone in the loan industry know the answer to this?



Panda</blockquote>


I think 680 is B of A's cut off for being prime, so yes that score and income on that loan amound can be approved as long as there is 10% down and reserves.
 
[quote author="PANDA" date=1215137033]Sorry Awgee,



I know that my statement is vague, but my agent just seemed very down and pessemistic yesterday telling me that some law was passed effective this month that made loan mortgages much tougher to get, which is why homes sales are very tough in chicago.



I'm curious, are loans really that tough to get these days? Suppose I had credit score of 680 and making a household income of $130,000. Would getting a loan from Bank of America for $417,000 30 year fixed be very easy or would it be a challenge? I just get the impression that there are a lot buyers, but the standard on getting a mortgage loan is getting very very tough, which is why it is tough to sell in this market? Does anyone in the loan industry know the answer to this?



Panda</blockquote>


Panda - What type of agent? A real estate agent or ... ?
 
[quote author="awgee" date=1215141942][quote author="PANDA" date=1215137033]Sorry Awgee,



I know that my statement is vague, but my agent just seemed very down and pessemistic yesterday telling me that some law was passed effective this month that made loan mortgages much tougher to get, which is why homes sales are very tough in chicago.



I'm curious, are loans really that tough to get these days? Suppose I had credit score of 680 and making a household income of $130,000. Would getting a loan from Bank of America for $417,000 30 year fixed be very easy or would it be a challenge? I just get the impression that there are a lot buyers, but the standard on getting a mortgage loan is getting very very tough, which is why it is tough to sell in this market? Does anyone in the loan industry know the answer to this?



Panda</blockquote>


Panda - What type of agent? A real estate agent or ... ?</blockquote>


Yes, it was my real estate agent here in Chicago.
 
Sounds like you have an uneducated agent. There was no law passed in the last 12 months in regards to mortgages in the state of Chicago, or California. I think that's realtor speak for "I ain't sellin' no houses."
 
[quote author="PANDA" date=1215142440][quote author="awgee" date=1215141942][quote author="PANDA" date=1215137033]Sorry Awgee,



I know that my statement is vague, but my agent just seemed very down and pessemistic yesterday telling me that some law was passed effective this month that made loan mortgages much tougher to get, which is why homes sales are very tough in chicago.



I'm curious, are loans really that tough to get these days? Suppose I had credit score of 680 and making a household income of $130,000. Would getting a loan from Bank of America for $417,000 30 year fixed be very easy or would it be a challenge? I just get the impression that there are a lot buyers, but the standard on getting a mortgage loan is getting very very tough, which is why it is tough to sell in this market? Does anyone in the loan industry know the answer to this?



Panda</blockquote>


Panda - What type of agent? A real estate agent or ... ?</blockquote>


Yes, it was my real estate agent here in Chicago.</blockquote>
Panda - It has been my experience that there are few real estate agents who know much about tax code. and even fewer who know much about real estate.
 
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