tag:blogger.com,1999:blog-4490173971918801689.comments2008-08-07T11:24:14.558-04:00Damienhttp://www.blogger.com/profile/08473489219671108708noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-4490173971918801689.post-65608318808892425642008-08-07T11:24:00.000-04:002008-08-07T11:24:00.000-04:00Jimi:<BR/><BR/>We are getting some traffic. More renters than buyers, but nothing has been solidified yet.<BR/><BR/>We priced the house aggressively for the area. It's the lowest priced as well as the most up to date as far as renovation. This is truly a tough market. I think buyers are still listening to the media and looking for the bottom of the market.<BR/><BR/>But I do agree with your suggestion as to being a more aggressive buyer. That's one of the changes I'm incorporating into my business model.<BR/><BR/>Thx for the comment!Damienhttp://www.blogger.com/profile/08473489219671108708noreply@blogger.comtag:blogger.com,1999:blog-4490173971918801689.post-2325144847278181212008-08-07T08:52:00.000-04:002008-08-07T08:52:00.000-04:00I hear ya!<BR/>Definately a Buyers market.<BR/>Are you getting much traffic/interest?<BR/><BR/>Put yourself in the Buyers shoes - is the competing inventory selling or also staying on the market begging for buyers?<BR/><BR/>If other similar product is moving, adjust your pricing accordingly. If all product is stagnant, you need to convert any qualified buyer to a sale! Take a small profit now and then go be an aggressive buyer!<BR/><BR/>My $.02,<BR/><BR/>jimiAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490173971918801689.post-75612009066871082392008-07-11T11:09:00.000-04:002008-07-11T11:09:00.000-04:00Yeah, Jimi, I agree! What a shame! I think the programs only help people who need down payment assistance. What is wrong with that? It probably would benefit FHA to do away with seller assistance as they offer similiar programs as well.<BR/><BR/>As for the scammers, maybe there can be some type of regulation of seller assistance. Nothing too stringent that would make financing more cumbersome. The new rules would be able to root out the scammers while keeping the program.Damienhttp://www.blogger.com/profile/08473489219671108708noreply@blogger.comtag:blogger.com,1999:blog-4490173971918801689.post-65248543112085737352008-07-11T07:18:00.000-04:002008-07-11T07:18:00.000-04:00This program has the highest level of defaults and fraud. Some sellers have gotten jacked up appraisals (say, market price plus 20%), a willing buyer at "nothing down", and then contribute 3% in "assistance". A high percentage of these end up in default.<BR/>A shame that a program designed for people like "Mama G" has been trampled.<BR/><BR/>jimiAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490173971918801689.post-79815314500012575742008-07-10T09:56:00.000-04:002008-07-10T09:56:00.000-04:00They are "bent out of shape" because these programs have the highest default levels and the highest propensity for fraud. FHA is losing money on this program.<BR/><BR/>There were scammers who would jack the price way above market(say 20%), get an appraiser to approve the sale price, then "contribute" 3% to the buyer to complete the sale.<BR/><BR/>Tis a shame that scammers may eliminate a program that was designed for people like "Mama -G"!<BR/><BR/>jimiAnonymousnoreply@blogger.com