We Have Buyers

Beach Fanatic

Mar 23, '07 · 9:35 PM8,575

Ok, here is the scoop.
We are working with an Investor Group that is actively buying.
In fact, they just put in 4 offers with us this week on $1 million dollar plus homes. We have thoroughly checked them out along with our broker.
At this point, all is good and legitimate.
They are investors so they are slightly creative but not crazy.
Here are the basics of what they seek:

1. They will offer 65% of the Appraised Value.
2. The appraisal must be recent.
3. The offer may or may not be an assignment offer.
4. They will fully disclose the intent to find a 3rd party purchaser and their intent to make a profit. Also, they will fully disclose the exact amount of profit they intend to make.
5. After they receive the appraisal & survey and the offer is accepted, they have 30 business days to market the property to their buyer list.

If this sounds like something you or your customer would be interested in, please feel free to contact us and we can discuss things in greater detail.

Christine DeAngelis
& Racquel Morgan
Century 21 Beach Realty
850.420.3254 cell
http://www.buythegulf.com

Replies

SoWal Insider

Mar 25, '07 · 5:57 PM#27

We seem to have opened up some healthy discussion that hopefully has some positive impact in a round about kind of way. We appreciate all of the feedback though we think it is a big leap for some of you to judge this or make negative comments when you really don't have all the details.

2B,

It would be great if you did post all the details...but since you didn't, the best we could come up with is to read between the lines. That said, I don't think posting all the details will shine a more positive light on this type of deal.

I do, however, admire the way you fielded the questions up to the point you decided to drop the discussion.

.

Beach Fanatic

Mar 25, '07 · 8:36 PM#28

Should I take this all to mean that properties are overpriced on average by 25-35% ? Do others think that is a fair generality?

Beach Fanatic

Mar 25, '07 · 9:06 PM#29

Should I take this all to mean that properties are overpriced on average by 25-35% ? Do others think that is a fair generality?

We bought our beach property to enjoy, and we?re doing just that. We wouldn?t sell it for 35% more than an appraiser feels its worth. After taxes, commission, etc. we couldn?t duplicate the location and good times that we?re having there.

Beach Comber

Mar 25, '07 · 11:58 PM#30

Should I take this all to mean that properties are overpriced on average by 25-35% ? Do others think that is a fair generality?

Maybe so, if investors sold to investors during the boom and now everyone is relying on the end buyer??? To say, "we have buyers," like there are no buyers out there. There are buyers out there, it may be that there are not too many properties in their price range. Come on, $300K just for the lot? I think you have a narrow market of buyers when the current prices and that will change when prices are more reasonable. Just my 2 cents:idontno:

Beach Fanatic

Mar 26, '07 · 12:08 AM#31

Just my two cents. Some properties are over priced still but we are writing alot of contracts. If you know the area you know when something is overpriced in Todays market. To say the whole market is 25 to 30% overpriced would be wrong.

Beach Comber

Mar 26, '07 · 10:07 AM#32

It seems the "realtors" on this thread don't like 2bohemians style. I agree that if they don't have a pool of investors that they can turn the property on to, then it is a waste of time. But I happen to think that they aren't interesting in wasting there own time either. Yes, it's not a very risky approach but I have to believe that they plan on beating the bushes to find buyers.

I am in the process of selling some property and I have been unimpressed with the current order takers, I mean, realtors, in this area. I don't see any of them trying to create demand. Most just wait for the phone to ring and then complain about the market.

Beach Fanatic

Mar 26, '07 · 10:42 AM#33

It seems the "Realtors" on this thread don't like 2bohemians style. I agree that if they don't have a pool of investors that they can turn the property on to, then it is a waste of time. But I happen to think that they aren't interesting in wasting there own time either. Yes, it's not a very risky approach but I have to believe that they plan on beating the bushes to find buyers.

I am in the process of selling some property and I have been unimpressed with the current order takers, I mean, Realtors, in this area. I don't see any of them trying to create demand. Most just wait for the phone to ring and then complain about the market.

I pride myself in doing everything I can to sell properties for my clients. Sometimes, especially in a market like this it is really hard to get sellers to swallow reality. The hard ones are the ones that will not get right on the price and feel that we are doing something wrong. The market is great if you get a seller who will price his property right. I also have no complaints with what 2 bohemians are trying to do. It is all about disclosure and they have come right out and disclosed what their buyers are trying to do. Trying2makeabuc, you say you do not see "any" of them trying to create demand?? Do you know what we "all" do? Many of us work our butts off every day to try to create a demand. If you are having struggles selling your property it is more then likely over priced. I know many people feel agents just stick signs on the property and wait for calls but if you would like to come spend a day with me I think you will discover it is allot more then that!

Edited Mar 26, '07 · 10:54 AM

Beach Fanatic

Mar 26, '07 · 10:49 AM#34

trying2makeabuc

How can you be sure that "most" of these comments are from "realtors on this board"...might want to check your facts

Beach Fanatic

Mar 26, '07 · 11:56 AM#35

It seems the "realtors" on this thread don't like 2bohemians style. I agree that if they don't have a pool of investors that they can turn the property on to, then it is a waste of time. But I happen to think that they aren't interesting in wasting there own time either. Yes, it's not a very risky approach but I have to believe that they plan on beating the bushes to find buyers.

I am in the process of selling some property and I have been unimpressed with the current order takers, I mean, realtors, in this area. I don't see any of them trying to create demand. Most just wait for the phone to ring and then complain about the market.

I am no realtor but I would hope realtors do not see their job as creating demand. The market should drive demand. If demand is low then prices will fall until the demand picks up. I would think realtors would feel very unethical if they were thought to be influencing the market.

Beach Lover

Mar 26, '07 · 12:02 PM#36

I guess another way someone who wants to sell their propertyat 65% of appraisal would be to just put their property with a realtor using the MLS. That way a whole bunch of people will see the new lowe price.:bang:

I agree. It would be easy to sell a property for $650,000 that has a legitimate, accurate & recent appraised value of $1,000,000. I would buy one today with out a flipping clause. But it's not happening. I bought a couple of properties recently for approximately 50% of present value but sellers that despirate are VERY rare.

SoWal Expert

Mar 26, '07 · 12:10 PM#37

I am no realtor but I would hope realtors do not see their job as creating demand. The market should drive demand. If demand is low then prices will fall until the demand picks up. ...

I agree. I, for one, hope that all of the Realtors do not turn to arm twisting tactics in order to pressure sell. This feel of this area does much of the talking to the buyers. Creating false demands is not the business Realtors are in. Price, location and scarcity create demand.

Edited Mar 26, '07 · 12:11 PM

SoWal Insider

Mar 26, '07 · 12:39 PM#38

I am no realtor but I would hope realtors do not see their job as creating demand. The market should drive demand. If demand is low then prices will fall until the demand picks up. I would think realtors would feel very unethical if they were thought to be influencing the market.

True, however, in a down market, IMO, realtors need to think outside of the box with their marketing. It's not just price, open houses, balloons, and taking grayt pictures to put in the MLS. There's a whole world out their who have never heard of SoWal, the sense of community, and diversity the area offers.

When you watch an infomercial, is it not in a sense creating demand for a product?, or in realty a lifestyle?

I don't agree with the marketing plan 2B's are working with, I feel it may be a waste of their time, but I give them kudos for responding to the posts on this thread like Shelly, and as long as no one is harmed by the marketing plan, they are attempting something different, and for that I give them credit.

Disclaimer: I am not a realtor, or related to a realtor in Florida, or ever plan on ever being a realtor, (no offense, I prefer brokering mortgages in the NE) 😀

Edited Mar 26, '07 · 12:53 PM

Beach Comber

Mar 26, '07 · 1:22 PM#39

I have been trying to figure out what the concern here might be, and this article helped me to understand. I'm not saying I think the fraud component is there, because clearly they are finding properties under the appraisal.

http://www.azcentral.com/arizonarepublic/news/articles/0120mortgagefraud0121.html