San Jose Foreclosures

[jimmatzen]

Fuzzy,

Thanks for the comment. In general, I think you are correct. But, there are occasions when you can get a property under market value if the perceived market value is incorrect. Also, knowing what they look for in offers and timeframes can get offers accepted.

There are some companies that have an edict to sell to first time home owners. I have gotten an FHA offer accepted that was below price of a cash offer accepted.

[jimmatzen]

Also, in some short sales you can get a below market offer accepted, many Realtors are too lazy to to make an offer on a property that may not close for 6 months.Things have changed quite a bit ( lower inventory etc) in the time since this story ran, and your comments are not off base. I still think a unique approach can save buyers $.I assume you are a Realtor too, lets keep giving the public knowledge & try to mitigate the damage done by the many terrible Realtors that got us in this mess

[fuzzywzhe]

@jimmatzen I'm not a real estate agent, but I have lived in 5 states in my lifetime, and I have personally witnessed 2 markets with real estate collapses.

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Valuations in this area are unsustainable, and there is nothing unique about this area. If you can't rent a property for a profit after 20% down, with a mortgage and including taxes and upkeep, it's over-priced.

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The majority of people are wrong about every market. Right now, we're on the slope of hope for house prices.

[fuzzywzhe]

Nothing sells for "undermarket" value.

The market determines it's worth. Banks can sit on these over-priced properties, but I can see they aren't selling any of them.

[wannabdynasty]

Amazing.

[dylanm6]

Very professional.