Home Selling in 33912>Question Details

lindac247, Home Seller in Fort Myers, FL

If a house is not a foreclosure, why would it ever end up on several different websites as a foreclosure?

Asked by lindac247, Fort Myers, FL Wed Aug 22, 2012

We only seemed to be getting "bargain hunters" looking at our home & had two incredibly ridiculous offers - one putting just 1% down! Our agent had always been telling us the foreclosure homes were killing us & trying to get us to drop our price to compete - now we know why! Can anyone explain how or why this would happen? It certainly does not seem ethical or perhaps not even legal. Is it a scam of some type?

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Answers

11
I have performed thousands of valuations on homes for lenders.
John Sorenson
239-898-9515
Starlink Realty
http://WWW.SWFLORIDAPROPERTYMANAGEMENT.COM
0 votes Thank Flag Link Mon Nov 26, 2012
Hi Linda

1.) Ask your Realtor the same question
2.) Ask him for a copy of the MLS Listing, Agent Copy.
3.) Be sure that you have not missed mortgage payments and not short. Sometimes
when one misses payments or are short, some web sites deems you that
4.) The sites can be scams.
5.) Ask for a CMA and Sales Activity around your home.
6.) What marketing has been done
7.) What does Trulia.com, zillow.com, and realtor.com say about your property?

Good luck.
Ruth
http://ruthandperry.com/
0 votes Thank Flag Link Wed Aug 22, 2012
Linda, certainly there are bargain hunters out there, but there are also buyers who just want a good fair deal. Discuss with your agent how they are marketing your home and what suugestions they have to make your home more attractive to prospective buyers. consider curb appeal, the neighborhood, how your home shows, are the lights on, the drapes open? How does it smell? What is the feedback from the agents who have shown it? what have their buyers said? Unfortunately, some agents don't explain to their buyers that lowball offers can insult the sellers and they need to be reasonable. No scam or ethics issue, sellers can ask whatever they want and buyers can offer whatever. Its the agents job to get them to a happy meeting ground.
Good luck to you,
0 votes Thank Flag Link Wed Aug 22, 2012
Linda,
Asked your realtor to prepare a CMA for your particular neighborhood, than you will see how homes in your neighborhood are selling and you also will see how many foreclosures you’re competing with.
Your home should not appear on foreclosure websites.
1 % down is very acceptable for a cash transaction and quick closing, but if your offer is 99% financing, than you might want to ask the buyer’s agent for a pre-approval letter. In any case you should always ask for a proof of funds.

Best regards,
Kirsten
Kirsten S. Prizzi
FL Lic Real Estate Broker
Immobilienfachwirt / Immobilienmakler
Direct: 239.248.1667
Residential & Commercial Real Estate
Email: Kirsten@RealEstateFloridaUSA.com
http://www.RealEstateFloridaUSA.com
http://www.Immobilienmakler-in-Florida.com
http://www.VillaFloridaFewo.de
Location is just the beginning!
0 votes Thank Flag Link Wed Aug 22, 2012
Most MLS systems allow the home owner to determine if they want their home marketed on the 'internet." Responding 'Yes" to this option means your home data will be syndicated to a countless number of websites. These are referred to as aggregate websites that collect and display data but assume NO responsibility for that data. In many cases, including Trulia, data is changed, deleted, substituted or falsely presented. Such a situation is easily observed when viewing data on Trulia received from Realty Trac.
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The home seller and home buyer are placed in an environment where they are poorly served, systemically misinformed and potentially victimized by faulty evaluation, estimates and Zestimates.
-
Home sellers and buyers should be enraged at this misrepresentation of their home and community and perhaps regarding the material loss they incur as a result of such behavior. False community evaluations bring on the low ball offers and those bargain hunters.
-
But, the truth is, you are not enraged. You are right here on an aggregate website voicing your concern because you must believe the value you receive from aggregate sources exceed the harm you suffer. You may want to call the attorney general for your state if your home is shown as a foreclosure and it is not. Doing so, especially in the situation you describe, may compel aggregate websites to take the EASY steps needed to significantly improve the integrity of the displayed data. The source is easily identified, All that is needed is to terminate that feed.
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Now if your home IS in a community saturated with foreclosed homes, you ARE going to take a painful hit. No doubt about it! As long as many foreclosures exist, your market has not yet found bottom. You will need to clearly distinguish your homes exceptikonal VALUE from the foreclosures or compete with them. The latter seems to be what your real estate professional is advising.

Best of success in the sale of your home,

Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727. 420. 4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Wed Aug 22, 2012
Most MLS systems allow the home owner to determine if they want their home marketed on the 'internet." Responding 'Yes" to this option means your home data will be syndicated to a countless number of websites. These are referred to as aggregate websites that collect and display data but assume NO responsibility for that data. In many cases, including Trulia, data is changed, deleted, substituted or falsely presented. Such a situation is easily observed when viewing data on Trulia received from Realty Trac.
-
The home seller and home buyer are placed in an environment where they are poorly served, systemically misinformed and potentially victimized by faulty evaluation, estimates and Zestimates.
-
Home sellers and buyers should be enraged at this misrepresentation of their home and community and perhaps regarding the material loss they incur as a result of such behavior. False community evaluations bring on the low ball offers and those bargain hunters.
-
But, the truth is, you are not enraged. You are right here on an aggregate website voicing your concern because you must believe the value you receive from aggregate sources exceed the harm you suffer. You may want to call the attorney general for your state if your home is shown as a foreclosure and it is not. Doing so, especially in the situation you describe, may compel aggregate websites to take the EASY steps needed to significantly improve the integrity of the displayed data. The source is easily identified, All that is needed is to terminate that feed.
-
Now if your home IS in a community saturated with foreclosed homes, you ARE going to take a painful hit. No doubt about it! As long as many foreclosures exist, your market has not yet found bottom. You will need to clearly distinguish your homes exceptikonal VALUE from the foreclosures or compete with them. The latter seems to be what your real estate professional is advising.

Best of success in the sale of your home,

Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727. 420. 4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Wed Aug 22, 2012
Linda, it's very strange your property is showing as a foreclosure where it's really a regular sale. Perhaps a mistake in the marketing I guess... In my opinion it's true sellers have to compete with foreclosures and short sales in this market. Many of the distress properties for sale are in very good condition nowadays. It would be wise to ask your agent what kind of advertising he is using and in what channels. Maybe ask him for an email of the MLS listing he made. Good Luck!

Matias Escobar, Realtor® GRI, SFR, CIPS
http://www.SWFLrealtysolutions.com
Cell: (239) 738-0451
Fax: (206) 337-9308
Office: (239) 415-5881javascript:{}
JONES & CO. REALTY
8695 College Pkwy #1071
Fort Myers, FL 33919. USA
0 votes Thank Flag Link Wed Aug 22, 2012
Hello Linda,

It shows up because there are services out there like realty trac who have an auto upload into the internet for any properties that have "lis pendens" filed against them--or liens. This gives the impression that homes are for sale far below market value because they show up for the amount of the lien.

On short sales or foreclosures, the bank is only going to agree to a sale price within the current market value range for the property.

Myke Triebold, GRI, LMC, ABR, SFR
MykeSaysSold@aol.com
850-305-6256
0 votes Thank Flag Link Wed Aug 22, 2012
I agree with Jesse - this is something you need to discuss with your listing agent. Properties that are priced right are selling very quickly right now so it sounds like you need to set down with your agent and view how your property is being marketed and the pricing.
0 votes Thank Flag Link Wed Aug 22, 2012
I agree with Jesse - this is something you need to discuss with your listing agent. Properties that are priced right are selling very quickly right now so it sounds like you need to set down with your agent and view how your property is being marketed and the pricing.
0 votes Thank Flag Link Wed Aug 22, 2012
I would have your agent explain......something does not seem right. We have a methodical approach to our marketing and know where our properties are being marketed.


jessemcgreevy@gmail.com
239-898-5329
http://www.Domain-RealtyGroup.com
0 votes Thank Flag Link Wed Aug 22, 2012
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