{"id":11194,"date":"2010-02-06T19:28:12","date_gmt":"2010-02-07T02:28:12","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=11194"},"modified":"2010-02-06T19:33:32","modified_gmt":"2010-02-07T02:33:32","slug":"cant-find-a-nut-search-in-a-nut-house","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11194\/cant-find-a-nut-search-in-a-nut-house\/","title":{"rendered":"Can&#8217;t Find A Nut?  Search In A Nut House"},"content":{"rendered":"<p>Mortgage squirrels, searching for some nuts, during what I believe could be a long winter, might consider this idea:<\/p>\n<p>There should be a lot of listings hitting the market when the <a title=\"shadow inventory\" href=\"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=11158\">shadow inventory<\/a> eventually gets released.\u00a0 Banks are not very attentive sellers inasmuch as they care less about condition and price than expediency.\u00a0 Rather than pump money into property improvements or work with HOA&#8217;s to get the financial statements in order, they reduce the price until a cash buyer comes along.\u00a0 Zillow showed us that <a title=\"zillow\" href=\"http:\/\/activerain.com\/blogsview\/1468448\/white-paper-finds-nationally-foreclosures-sell-at-72-of-market-price\">REOs tend to sell for 3\/4 of the market price<\/a>.<\/p>\n<p>Equity sellers might be having a tough time moving condominiums because (a)- the REOs are priced lower and\/or (b) the HOA hasn&#8217;t taken the time to secure an FHA and VA approval for the complex.\u00a0 Mortgage squirrels can focus on (b) and add value to the sellers by broadening the market.\u00a0 While assisting the HOA secure complex approvals will help the REO sellers, those sellers often prefer cash offers.<\/p>\n<p>Consider targeting condominium owners who have had the property listed for more than 60 days.\u00a0 Send a letter to the owner and carbon copy the listing agent and HOA President.\u00a0 Highlight these points in the letter:<\/p>\n<ul>\n<li>a complex approved for FHA or VA financing will open up the market and attract owner-occupants<\/li>\n<li>more buyers means higher property values<\/li>\n<li>gov&#8217;t loans are assumable which could translate to even higher values when rates are higher<\/li>\n<\/ul>\n<p>It is possible that listing agents will be upset with you.\u00a0 When you explain that you are not an agent and you are trying to help them and their customer to sell the property, they will be open to your proposal.\u00a0 HOA Presidents may have no clue about this because property management companies (that manage HOAs) typically don&#8217;t want to address this with the HOA boards.\u00a0 The sellers may be skeptical but will offer you a chance to present your proposal.<\/p>\n<p>You have a chance to be a hero with (a) someone who intends to buy another home (b) a selling professional who could be a great referral source for future business. and (c) an influential owner within the complex who might <a href=\"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11194\/cant-find-a-nut-search-in-a-nut-house\/#more-11194\" class=\"more-link\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage squirrels, searching for some nuts, during what I believe could be a long winter, might consider this idea: There should be a lot of listings hitting the market when the shadow inventory eventually gets released.\u00a0 Banks are not very attentive sellers inasmuch as they care less about condition and price than expediency.\u00a0 Rather than [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,6,5],"tags":[],"class_list":{"0":"post-11194","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":11158,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11158\/a-scary-thought-on-the-non-existent-shadow-inventory\/","url_meta":{"origin":11194,"position":0},"title":"A Scary Thought on the (Non-Existent?) Shadow Inventory","author":"Sean Purcell","date":"February 4, 2010","format":false,"excerpt":"The shadow inventory has been a topic of interest with almost every agent I talk to lately.\u00a0 Most believe it is large and few understand why it isn't in the marketplace rather than held by the banks.\u00a0 Russell Shaw recently wrote about the shadow inventory being gibberish.\u00a0\u00a0 It is an\u2026","rel":"","context":"In &quot;Big Mother&quot;","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2010\/02\/Distressed-Mortgage-CHARTS.gif?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2903,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2903\/looking-for-a-bargain-in-phoenix-real-estate-add-some-elbow-grease-to-your-money-and-go-for-a-bank-owned-home\/","url_meta":{"origin":11194,"position":1},"title":"Looking for a bargain in Phoenix real estate? Add some elbow grease to your money and go for a bank-owned home","author":"Greg Swann","date":"April 5, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Looking for a bargain in Phoenix real estate? Add some elbow grease to your money and go for a bank-owned home Last week we talked about how home sellers can command a premium price in the current\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5554,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5554\/nar-promotes-housing-stimulus-plan\/","url_meta":{"origin":11194,"position":2},"title":"NAR Promotes Housing Stimulus Plan","author":"Dave Phillips","date":"November 12, 2008","format":false,"excerpt":"Here is a fresh bone for Bloodhounds to chew on.\u00a0 This 4-point stimulus plan was approved by the NAR Board of Directors this past Monday and is being pushed heavily in Washington DC.\u00a0 The National Association of Realtors\u00ae will offer a four-point legislative plan to reinvigorate the housing market, calling\u2026","rel":"","context":"In &quot;Big Mother&quot;","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14620,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14620\/upping-your-game-selling-real-estate-implies-selling-enough-that-you-can-add-the-staff-to-sell-even-more-for-me-that-means-concentrating-on-the-prospects-who-will-make-it-to-the-closing-table\/","url_meta":{"origin":11194,"position":3},"title":"Upping your game selling real estate implies selling enough that you can add the staff to sell even more. For me, that means concentrating on the prospects who will make it to the closing table.","author":"Greg Swann","date":"May 17, 2011","format":false,"excerpt":"This is a response to Robert Worthington's post on getting to the next level selling real estate. I don't want to represent myself as an expert on production, this for two reasons: First, because I know that is untrue. I'm a good real estate agent, and I think I'm becoming\u2026","rel":"","context":"In &quot;Flourishing&quot;","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11122,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11122\/redfin-coms-glenn-kelman-comes-to-scottsdale-to-beard-the-mls-lion\/","url_meta":{"origin":11194,"position":4},"title":"Redfin.com&#8217;s Glenn Kelman comes to Scottsdale to beard the MLS lion.","author":"Greg Swann","date":"February 1, 2010","format":false,"excerpt":"Redfin.com CEO Glenn Kelman is in Scottsdale today and tomorrow for the MLSCOVE Conference, a gathering of MLS executives from all over the country. Glenn made time for Cathleen and me this morning, buying us breakfast and regaling us with stories of the not-always-smooth path Redfin is traveling. In real\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5017,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5017\/point-counter-point\/","url_meta":{"origin":11194,"position":5},"title":"Point \/ Counter-Point","author":"Sean Purcell","date":"October 16, 2008","format":false,"excerpt":"Michael Cook wrote a thought provoking post earlier entitled What Happens to the Early Worm.\u00a0 So thought provoking that I found my comments drifting to post length.\u00a0 So how about a little point\/counter-point? Michael, a very detailed and thoughtful post. I would not disagree with you that cautiousness is a\u2026","rel":"","context":"In &quot;Real Estate&quot;","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/11194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=11194"}],"version-history":[{"count":4,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/11194\/revisions"}],"predecessor-version":[{"id":11198,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/11194\/revisions\/11198"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=11194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=11194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=11194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}