Property Q&A in 32828>Question Details

Claire, Home Buyer in Orlando, FL

Thi's the only house wich price increased ??? Prices are going down, this month 4.7%. What're you thinking?

Asked by Claire, Orlando, FL Wed Sep 24, 2008

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This question is about this property: http://www.trulia.com/property/1066610332-3665-Cassia-Dr-Orl…

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Answers

6
Maybe it is a short sale property and the bank finally approved a price and it was higher than they had it listed for. Happens all the time.
Paul
1 vote Thank Flag Link Thu Sep 25, 2008
Hi Claire--Please allow me to answer Matthew here.

Matthew, What makes you think I was telling "everyone that it could take 2 weeks for a short sale offer to be accepted or denied"? I realize there was a lack of specificity, but I used "several" to indicate 5, 6, 7 weeks. I've had answers in as little as two weeks and as long as never (the buyer rescinds the offer), but on average you know something before two months. That is, unless the home really isn't a short sale and is being advertised as such by an inexperienced agent. I make sure of the status of the home BEFORE submitting the offer. That way, we cut back on the frustrations as much as possible.

Thanks for the opportunity to expand on my earlier answer.

By the way, Claire, I noticed that the price has been taken down from the link in your original question. It is, though, still listed in the MLS at $195,000.

Louise Warring
Coldwell Banker Residential Real Estate
0 votes Thank Flag Link Thu Sep 25, 2008
Louise, I suggest you do not tell everyone that it could take 2 weeks for a short sale offer to be accepted or denied. It could take as long as two months. I have sen this first hand.

:) Just a friendly FYI
0 votes Thank Flag Link Thu Sep 25, 2008
The statistics that you refer to are very vague and general. Perhaps Orlando as a whole experienced 4.7% decrease- but that certainly does not apply to every property and every situation. Often, when it comes to short sales- the actual acceptable price is higher than the listed price. The seller sets the list price without prior approval of the lender. In a short-sale, the lender wants all the documents from the buyer and seller in order to approve the transaction- only then do they accept or reject an offer. It seems a bit backwards- but that it the way it goes for now.
0 votes Thank Flag Link Thu Sep 25, 2008
Claire,

Not knowing the back ground on this home we can only speculate.

Generally when people increase the price in a market like this, it is because they have just completed an upgrade that they feel has improved the properties marketability significantly.

If you would like us to comtact the agent for a clarification, we would be happy to do so.

Good luck,
The "Eckler Team"

Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
0 votes Thank Flag Link Thu Sep 25, 2008
Hi Claire -- I don't know why it says that the price of this home is $218,000 in the link you provided. The home was listed in the MLS in July for $205,000 and has recently been reduced to $195,000. If you would like to see it, I'd be happy to show it to you.

It is a short sale, so please remember that it could take several weeks before an offer would be accepted. There are also quite a few others in this community in short sale that are similar to this home.

Good luck and Happy House Hunting.

Louise Warring
Coldwell Banker Residential Real Estate
0 votes Thank Flag Link Thu Sep 25, 2008
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